Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-03-26
Require Annual Distribution.

suggested by the minority of the spe
cial legislative insurance commission
that was in session last summer.
The bills are house file 361, limit.
ing the expenses OF life insurance
companies; house file 273, to require
.annual apportionment and accounting
OF surplus of life insurance policies
and house file 274, to require an an
nual apportionment and accounting
OF surplus of life insurance companies
as to policies heretofore issued.
The bill limiting the expenses OF
the life inIirance companies does not
apply to the Indebtedness of indus.
trlal insurance nor to stock companies
issuing and representing themselves
as issuing nonparticipating policies
only 1t provides that after this year
no company shall expend. or become
| maple for an amount exceeding the
total gross premiums for the first year
OF insurance received in the year,
less 80 per cent of the cost of one
year term insurance, with interest at
per cent for commissions on first
year premiums. compensation, not
paid by commissions. for services in
obtaining new insurance exclusive of
salaries paid in good faith for agency
| supervision, for medical examination
ana FOR advances to agents. No COM
| pany shall make or incur any expense
| except actual investment expenses
| and taxes on real estate in excess of
certain amounts.
Inc annual apportionment and ac-
counting bill provides that every life
insurance company in Iowa conducted
| upon the mutual plan or in which
pollcy holders are entitled to share
| IN the profits or surplus shall make
an annual apportionment and account
ing of the Invisible surplus to each
policy helder beginning not later than
the end of the third policy year is
sued after Jan. 1, 1908. A contingent
reserve fund is provided for.
The holder of each participating
policy after Dec 81, 1907, shall be-
fore the end of the third policy
year and annually after that, have
submitted to him the following op-
lions for the application of the appor-
toned surplus: paid in cash; applied
toward the payment of any premium;
applied to the purchase of paid-up adj
ditions to the policy or remain with
the company, subject to the right of
the insured to withdraw with all ac-
cumulatlons at any anniversary of the
policy.
1t is also provided if within thirty
days the insured fails to designate the
manner of the application of the sur
plus the company shall apply it to
payments upon premiums if any are
due and if not shall pay it in cash.
The insured is given the right to sur
render his policy at any tilpe within
one month after date of default and
shall receive within six months the
cash value otherwise available for the
purchase of paid up or extended in.
surance.
The third bill requires an annual
apportionment and accounting of sur
plus of life insurance companies as to
policies that have previously been is
sued.
Four Industrial State High Schools.
Senator Kline and Representative
Jones have offered bill establishing
four industrial, agricultural and man
ual training high schools, one in each
quarter of the state, and appropriate
ing one-tenth of mill tax for their
support. This tax will amount to not
to exceed 25 cents for each farm in
the state. The schools are to be
branches of the Ames college and in
them shall be given instruction in the
elements and science of agriculture,
stock judging, stock .aising and feed
Ing, forestry and horticulture, manual
training in all its branches, domestic
science and allied subjects, in addi-
ton to such instruction in the sci
ences, history, mathematics, civics,
literature and other kindred subjects
usually taught in high and other first
class secondary schools of the state,
as in the Judgment of the board of
trustees may seem fit and proper.
Shift Districts for congressman.
Representative Mercer has intro.
duced bill to reorganize the congress
slonal districts of the state, making
numerous changes, in accord with the
plan which was outlined about
month ago. The change would cause
Congressman Dawson and Cousins to
exchange districts, would shift Bird
sail over into the Tenth and shift
Conner over into the Ninth. Changes
would be made in every district save
the Fourth but the congressman nam
Il D,,l