Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1906-07-05
LIFE INSURANCE PRES. TALKS.
Rawson, of Des Moines Company. o
Stand Before Commission.

Des Moines, la, June 30.--C. L. Raw
son, president of the Des Moines Life
Insurance company. told the Insurance
commission yesterday that the Des
Moines Life had reduced his salary
from $l2, eco u year to $500 year. This
taken at the suggestion of Auditor of
State Il. F. Carroll, who advised that
the salary was higher than the size OF
the company would warrant. He said
he was In favor of high salaries but
that other salaries of the officers We're
reduced the total reduction amounts
ing to over Sll 900. He said he was In
favor of separate insurance depart
inent with n competent insurance ex-
pert in control. was opposed to the
governor appointing two directors of
each life insurance company, was OPP
posed to a uniform policy law and de-
MED that his company had ever con-
trihuted to campaign funds or paid any
money to Legislative lobbyists.
President Rawson was the first officer
of the Des Mones Life to be examined.
He testified that he had received $4,000
from the Des Moines Life as salary
during the fourteen years he had been
connected with il. In 1900 he received
1000 a year and his salary had been
gradually raised till it reached $4,000.
Last January ii and all the other sal
aries We're lowered nj the request of the
state auditor. He testified that his Wife.
Mrs G. T.. Rawson, is vice president OF
the company and receives $3.50, but
previous to January she received S..
ECO She had received $4,000 from the
company in fourteen years. He testi-
fled that his company had it's invest
ments i'm land. having Sl50.000 i'm mort
cages ON lowe. farms and other in
vcstments i'm land mortgages in numer-
Gus western states.
Questions put TO President Rawson
by members of the commission and also
questions put to Henry Nolen, secre-
tary of the Bankers Life, showed that
the commission is giving considerable
attention 10 the uniform policy mat
tiers and the annual distribution OF
dividends. requiring insurance COM
panies t.. make statements 10 it's policy
holders of the salaries of its officers.
and Il separate department for insur-
ance separate from the auditors office.
Henry Nolen suggested that the gov
ernOr appoint two directors on each
director board. President Rawson OPP
posed 1t. President R;lwSon also OPP
posed the suggestion that the salaries
paid officers be reported to the policy
holders.
IF the salaries paid should be pub
lished there would be 5000 polcyholders
offer 20 take my position at a salary OF
s.. 900 n year" said Mr.. Rawson to the
commission ~ believe in paying salar-
les that will get the best men. We can
operate temporarily on our reduced
salaries but we cannot hope to hold the
class of men now I'm the Des Moines
Life unless we can soon reinstate the
old sale ries."
-Four forms of policies are being coi-
sidered by the commission. The linn
tied life. limited payment life. ordinary
life and endowment life. The plan is
to allow all insurance companies to
write these four kinds of policies hut to
require Il uniformity as between insur-
auce companies the state providing the
form of the policy.