The Washington herald., 1907-12-07
CLEVELAND In CHAIR
EX-PreSident Leads Meeting
Of Insurance Men.
UPHoLDs HONESTY
Tells Presidents OF Companies, Mem
bers OF New Association of Inspec-
tors, that They should Establish
Thorough Confidence with Policy
characterization Discussed.

New York, Dec. 6-Grover Cleveland
seeming well and in good spirits despite
the recent reports Of his serious illness
as chairman opened the deliberations OF
the first annual meeting of the Associa-
ton or Life Inspectors at the Hotel Bel
mont this afternoon.
Mr. Cleveland read an address on the
present situation Of life insurance as
regulated by recent legislation, and kept
the meeting adjourned, after 8 O'Clock.
Aside from the lengthy and. at times,
vehement outline Of evils that have arisen
from too much regulation Of insurance
companies. delivered by the ex-President,
the address of Darwin p. Kingsley, pres
ident of the New York Life Insurance
Company, upon the fight between the
big New York companies and the Legis-
lature of 1906. which passed the Arm
strong bill. was the feature of the after
moons session.
Flaws I'm Armstrong Bill.
Kingsley hit out from the shoulder at
the work of the Armstrong committee
and the features OF the Armstrong bill
Senator Armstrong. who sat behind one
of the curtains near the entrance 10 the
parlor where the session was being held,
smiled broadly when Kingsley. after fin
ishing his speech. happened 10 stumble
over him on the way out
4 have been greatly interested in all
that l have heard this afternoon" Arm
strong afterward said to the reporters.
OF course. IL would have been a marvel
II the Armstrong bill was perfect | am
glad 10 hear how imperfect some people
think it was
State Insurance Commissioner Kelsey
was also an interested listener TO the
speeches Of the afternoon. He said that
he was only there TO listen and had moth
ing 10 say.
Aside from Mr.. Kelsey, there were in
surance commissioners from ten States.
Speaker Ekern, OF the lower house of the
Wisconsin legislature whose recent in
surance legislation has caused great COM
motion among the insurance companies,
was among those present Among the
presidents of insurance companies repre-
scented. were G. X Johnson, OF the Penn
Mutual of Philadelphia; J. NJ Taylor.
VI the connecticut MUTUAL OF Hartford /.
Charles a. Peabody, Of the Mutual Life
OF New York; Paul Morton. of the
Equitable Life. and United States Sena-
tor NJ. II. Buckley, of the Aetna Life of
Hartford.
Mr.. Cleveland Speaks.
EX-President Cleveland opened his
speech with a strong plea for honesty
and integrity in the insurance business.
telling the presidents that they could
not afford at any time. particularly dur
ing the present searching Investigations
of legislature. TO lose caste with the peo-
PIE through broken promises or delusive
misrepresentation.
Those that control life insurance com
panies should be absolutely and disin-
terestedly devoted 10 the interests of the
Insured. he said. land the relations be-
tween policyholders and their companies
should be friendly. trustful. and CO.
operative. Laws professedly regulating
life insurance should be free from sense
less resentment, predatory acquisitive-
ness. or demagOgic appeal"
Among the Commissioners Of Insurance
present were Krauss, Maryland: Drake.
District Of Columbia, and Col. Button. OF
Virginia.