New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-11
INSURANCE IN THIS STATE.
What Southern Correspondent Thinks of Re-
cent Action of Senate.

To the Editor of The Tribune
Sir: What spectacle is the action OF the great
state Of New York-the Empire state-toward the
policyholders in its insurance companies! With
a great flourish of trumpets years ago through its
Legislature, the state established what they called
and probably was at the tme-a great safeguard
for policyholders In its insurance companies, viz,
the State Department OF Insurance. l am only one
among the great army Of unfortunates who were
led into large investments In insurance policies in
your state. We told that the most rigid and
advanced laws had been formulated and passed
and were most vgilantly to be enforced looking
70 the conservation of the interests OF the policy
holders. This held out as a special reason
why New York companies should be favored Tn,
people Of the great Empire State with all their In
teilisenSe and honor. We're behind these rigid laws
Inc ofnceTs OF the companies made much OF this
point IN their favor, and heraded It far and wide
rang the changes on ii day and night. Besides We
Were fooASh enough TO believe that the great firan-
Of Industry were riv b as inc great captains
We thought they had in legitimate business hon.
really needed, and hence there was no reasonable
cause f Tor them TO act unfairly toward any one
bs tG an unWiedy mass and poured into
holdi this great protective department. which we
were too - tSrci6ly was organized for spe-
cial pIotecuon by the people of New York through
their legislative assembly, has been turned into
ectfuiy for the ene[ desgnedly or neg
Slckehihg details are laid bare. to some extent at
@ be 99% e StS our sr9nd e9ndenSe in the
exposure would cause it all to be rectided, addi
tonal laws would be- passed, and above all hon
est capable and efficient officers would be set over
the department. So again lulied to sleep
however a wave Of righteousness swept over the
state. and Mr.. Hughes-the very man who had so
successfully probed the rascaty under the Arm
strong commttee-s elected Governor and thera-
upon we take heart afresh. He Immediately dis
misses the head of the department as incom9etent
nhing ne had retained In complete control of ths
department the identical men who had charge Hn
der the old administration and by whose neglect or
oonniyance the old scandals had arisen. -
Well, We supposed, of course that this opv boa
corrected.
Legislature interiors; and says he is too good a
man Tor as 10 let go; we need him in business
or something to that effect; Now. we put the
question TO the honest Intelligent people Of New
York, the people who make up that great Empire
State OF which they proud Are YOU going 10
keep faith with us or not? You promised us pol1
icyhoders scattered through all the other FORTY
five states that. If we put money with you YOU
would see II protected and conserved Are yon
going 70 do 1t or not? That is the question we
are asking. and awaiting your answer with the
greatest interest. If you are going TO keep incom-
petents or grafters In that department. then we
must get out and save what we can and as we
need insurance must organize ana ratronize
home companies: and do everything we can to get
our several states 10 pass laws prohibiting the
New York ccmpanies from soliciting business with
In our boundaries. In order TO save our friends
and neighbors the sad experience we have had in
dealing with YOU. JOHN B. NJ FERRAN "
LOUISVILLE May ., 1871 A Polcyholder