The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1906-03-08
Special to "The Jersey city Newa.''

Special to "The Jersey city News.'')
TRENTON, March 8, 1906. Senator
Colby's effort to bring about the inyesti-
CATION of the Prudential Insurance Com
many and the Fidelity Trust Company.
of Newark, is likely to bear fruit before
the present Legislature adjourns sine die.
The judiciary Committee Of the Senate
now has the matter under advisement
and the probabilities are that the COM
mittee will present report to the Sen
ate next Monday evening. Whether
they will recommend such a searching in
vestigation Of the Prudential Company's =
affairs as Senator Colby has proposed is
not known, but it is generally thought
that the committee will recommend a
compromise resolution providing that the
scope of the investigation be limited to
the Prudentiars connection with its al
lied interests.
The Judiciary Committees of both the
Senate and the House gave hearing
on Senator Colby's resolution yesterday
and again last evening. The Prudential
and Fidelity interests were represented
by former Governor John w. Griggs, r.
V. Lindabury, Samuel w. Belden, Fred
erick w. Egner, Uzal H. McCarter, Will
bur S. johnson, Edward Gray, William
Hamilton and Anthony Kuser.
Senator Colby had associated with him
Corporation Counsel George L. Record,
of Jersey City; Sheriff Frank II. SOM
mer. Of Newark, and A. r. Woodruff, of
Railway. They prepared strong argu-
ments why the Legislature should APP
point a committee to make searching
investigation of the Prudential affairs in
the interests Of its policy4holders- While
they made no direct charges, they never
theless limited that it would be found
that the Prudentiaps large surplus was
not being handled as it should be-
Senator Colby, in urging the investiga-
ton, presented the subject in lengthy
address, covering about the same ground
as he did in introducing the resolusi IN
last week.
Corporation Counsel Record referred
briefly to the profound sensation ocea-
stoned by the disclosures of the New
York insurance investigation. These toli-
ditions, he said, could not be believed
until actually proven as they We're with
the pathetic ruin of men who only q few
short weeks before had been regarded as
pillars of society.
"It is reasonable to assume, Mr.. Rec
ord continued, that similar conditions
exist in New Jersey, where we have at
least one large insurance company With
prominet trust company identified with
it and indirect trolley, gas and electric
connections. do not say that the same
conditions that existed in New York COM
panies exist in New Jersey but While
there is a reasonable suspicion that it
does, the investigation is demanded in the
interest of the public, who are paying
their moneys into these corporations"
Mr.. Record intimated that it was the
bounden duty of the committee to order
the investigation if the evidence offered
furnished even a suspicion of the neces-
sity for an investigation.
Senator Hillery asked Mr.. Record if
he held that committee should report
all bills.
81 do quickly retorted Mr.. Record,
'for government by committees is most
infamous and contrary to every principle
Of democratic form Of government.
Every bill, no matter Of what character.
should be reported and acted upon
Sheriff Frank Sommers followed by
reading cleverly arranged address,
made up in part of the evidence takca
before the Armstrong Investigating Com
mittee, by which he showed the eonnec-
| tions of the Prudentiaps president, Sem
ator John +. Dryden, through subsidiary