The Providence news. (Providence [R.I.]) 1891-1906, 1906-01-06

ceive the attention OF the law makers.
and attempts shall be made 10 cure evils
by legislation, and IT is therefore. clear
that II will be for the best interests OF
life insurance that some laws shall be
passed. / have been asked to make sug-
gcstions in this line. and / trust that It
may not be without interest TO take up
some OF the points which have been con-
sidered by the public as a result OF the
recent Investigations.
on PUBLICITY.
l. Publicity. The present form for re-
turns TO the various insurance depart
ments is amply sufficient for showing the
company, and II the answers TO all the
questions are full and accurate, and the
required oath ls carefully considered 10y
those who ,,.S sign IL; the operations of any any
gest in addition TO the present require
ments, that companies be prohibited
from including I'm any profit and loss OF
similar account any disbursements for ex-
penses OF any kind. and that such ac-
count be allowed 90 include only credits
and charges on account of assets, and
that detailed report OF any such account
be furnished the Insurance commissioners.
2. ! suggest that looking Into the dis
tant future II might be wise To establish
a limit In tho matter OF outstanding in
surance. beyond which company should
not 40, excepting for reasons which might
apply 20 some particular institution. II
might be well IN this connection 10 pro-
vide that the Insurance commissioner
should have power, In view OF conditions
which might be made known to him. to
issue "a written order permitting an eX-
tension OF this limit Of such conditions as
10 locality and amounts as might seem To
him on the whole desirable.
DIVIDENDS DEFERRED.
2 I suggest that life Insurance com
pany. n II be permitted TO Issue deferred
dividend policies. should be required To
annually declare and credit 20 each policy
on any such plan a certain dividend. but
allowed 20 couple with n a provision that
e. together With any further accumula-
tlons, should be payable only I'm event OF
the policy being continued I'm force for
n certain number Of years. Any policy
holder should be permitted 90 know the
amount OF his aCCumulations az any time.
and I'm any event should be Informed az
periods not longer than FIVE years
A. Statutory provisions az 90 invest
meuts while prohibiting syndicate ana
financial underwriting trnnsa Ctions, should
not be as drastic as the provisions cover
ing Investments Of savings banks. These
latter Institutions are mainly local IN
character, and dividends 20 depostors are
based only upon the not returns OF In
terest which they receive upon their i'm
vestments.
8. I suggest that laws be proposed pro-
-r+rJiting contributions for political.
benevolent or charitable purposes.
6 IN seems proper that the law should
provide that All business transacted at
directors meeting should be brought 80
the attention OF the directors present IN
such n wav that their responsibility shall
be determined solely by tho record ~
their votes. To that ond I would sug-
gest individual record books for each d.
rector. comprising q printed record of
business ~ be reported AZ each meeting.
These individual record hookH sre for
use - The directors only az their meet.