The Montgomery advertiser., 1906-02-03
PASS RESOLUTIONS
INSURANCE COMMISSIONERS CON
 CLUDE MEETING.
SIX States Vote Against the Report Of the Cummlns Committee, While Et Is Favored By Twenty
 Three.

Chicago. Feb. 2.-Ths delegates, to the national insurance convention em- bodied today the business of their two days deliberation iu a set of oompre- hensive resolutions which were sub l scribed to by the convention as whole 1 Six states voted against the adoption nf the resolutions, and twenty-three voted in the affirmative The State 1 of New York winch was represented. dId not vote. its delegates declaring that they did not care to express an opln- | ion on a matter recommending legls- lative action until after the presenta- ion of the report of the Armstrong Commission.
 The future action of the States and Territories represented In the conven- ton was committed to a committee of fifteen members. the power betng given to the committee, however, to enlarge fts membership as 1t deems proper. This committee is to prepare a re ort which will be submitted at a meeting which will be held at the same time as the next meeting of the National Insurance Commissioner which is now set for an indefinite date in the month Of Soptem- hAr in Washington D. c. The mem hership of the committee as at present composed, Is as follows:
 F. Prewitt. Kentucky; R. E. Folk. Tennessee; T. F. Drake, District Of Col ilIlDlds W. R. dItitfGEs lAi&SOuElt M. Wolf California; A. I. Voorys. Ohio; B. F. Grouse. MaryIand: T. O. O'BrIen. Minnesota: 2. M. Host Wisconsin: W. E. ~arroli Iowa; J. l. Pierce. Nebraska: E. r. Young. Minnesota; J. Nj. Mayer, New York; George Fl. Adama. New Hamp- shtre: J. F Bird. Michigan
 Governors Beckham, Of Kentucky. Johnson of Minnesota; Davidson. of Wis eonsin: Elrod. of South Dakota; searIes. of North Dakota and Cummins. of Iowa. who were present during the convention, were made advisory mcln- hers Of the committee
 The report of the committNs On res- olutions which were presented by the chairman. Governor CunInina. of Iowa. and which wits adopted by the convS.,- ton As Q whole, Is as follows:
 Fi-st-We believe that thP syst4Yn commonly known as the deferred d. Vidcud plan, which consists in deter ring all dividends to the end of a nee rIod named. and of ferfeiting thr. shares cf the sur luH justly belonging to these policy-holders who either Iapsed or died before the end of the period. is unsOund in principle unjust In its op- eration. and such Legislation should be enacet5 as will remove the evils of this system.
 With respect to policies of that char acteT already issued there should be 'NqNAA AAOAh AhAo NiliiG an uAl- nual statement and provisional appor- tionment of surplus to such policyhold- CTS and the aggregate so apportion ed to such policyhoiders should be charged as liabilities of the company.
 With respect to all future policies there should be an annual accounting of the surplus. an apportionment to be- gin at a proper time after the issuance of the policy to each policyholder of his share of the entire surplus Of the preceding year. after reserving a req sonable margin of safety and an op- ton on the part of the policyholder to withdraw his share in money. Other options relating to the purchase of ud- ditional insurance may be included.
 second-With respect to the repre- sentative form of government of Tau- tual insurance companies we have care fully reflected upon all the plans that have been proposed. We recognize the difficulty In accomplishing the much desired result.
 We are impressed with the necessity of a change in the present methods. and we suggest for consideration by the committee the adoption of some plan whereby there will be fin eorh rputu9j conrany a division of Jurisdiction with the right of the policyholders of each jurisdiction to select a representative or representatives to attend the an- nual meeting of polieyholders; the de- talls of such plan to be devised SD os to bring as nearly as possible to each Dollcyholder the convenience and nrae- disability of exercising hls right to n voice in the management of his com- pany.
 Third. with respect to publicity. we believe that the existing laws Of many states are sufficent to authorize the Departments of Insurance to call for whatever information Is desired. The their insurance departments like pow CTS
 Fourth--With reference to invest mentS, we believe that while ali in-