New-York tribune., 1906-04-16
FOWLER REPORT SOON.
Many Changes in Management 10
BE Recommended.

Work on framing the final report Of the Fowler
investigating committee Of the New York Life In
surance Company will be begun next "Wednesday
the first meeting after the return or Thomas p
Fowler the chairman. who is expected from Eu-
rope to-day
II has been decided 20 have the report ready soon
after thc adjournment of the Legislature. One OF
the members or the committee said yesterday that
the report would he ready 10 present the tr7is-
lees IN two three weeks. III is understood that
number OF changes in the general manag cement and
the conduct of the departments win be recon-
rnended. These. however viii probably closely fol-
low the lines OF the Armstrong bills. They win also
tend toward simplifcation OF the organization
an6 reduction OF the running expenses The
member Of the committee referred TO said:
Air Fowler's absence has not interrupted the
work OF the committee, but AZ the meeting on
aSe acopehsG % Our 3 %e next % report % Will be our
nnal report and that will be ready in two or three
viii cover all the conditions and every detail of
the management.
..W!n you recommend any drastic changes?' was
asked
II don't believe many changes will be necessary
was the reply. The report will. we believe. be
most satisfactory TO the committee. BY that
mean the policvholdcrs. for this is mutual COM
pany. you know
''Nin you start any more suits for the recovery
OF money!"
II we find any more money missing we will"
viii you bring any suits against the estate Of
the late President McCall?"
That matter is entirely in the hands OF the trus-
tees"
A statement given out from the offices of Paul
Morton. president OF the Equitable Life Assurance
Society shows that the small policyholders who
aliorve5 their policies lapse account OF the
unsettled conditions in the insurance world are
taking advantage OF the opportunity offered 10
them in a special communication from the presi-
dent about weeks ago 10 be reinstated in the
company. The statement says in part:
Investigation shows that the fears engendered by
Developments OF the year resulted in the lapslng
policy for S250eA0 allowed 10 lapse or the
entire volume of lapsed policies in the Equitable
eighty-four were for $500 less.
In the last ten days more than four thousand
zpulications for reinstatement have been received
at the home office Many applying TO their
agents throughout the country. and applications
are coming in At the rate OF more than two hum
dred day.
Commenting on The result OF his efforts TO re-
store the standing OF lap<ed polcyhoders Presi-
dent Morton said:
My belief that the small policyholder the chief
sufferer from the agitation and excitement regard
ing life insurance is confirmed. The holders OF
policies OF 500 and upward generally men OF
business experience; they recognized the strength
Of the companies and were not disturbed. hut there
small policies. Through fear. based msappre
bension Of the real facts. and often misrepr
sentaiion. thousands of them allowed their policies
TO lapse. felt many would wish to return after
the entire solVencv OF the society had been demon
strated by the report Of the chartered accountants
and we have made IL as easy as possible for them
20 come hack.
The present management of the society IS deter
mined 10 conduct its affairs for the best interests
of the pollcy holders. and with such economy that
insurance will hereafter be furnished minimum
cost.