The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-05-19
Big Companies MayWish
to See Local Concern
Go Down.
COL. BUTTONS TRIP
WITH rTHOS. f. RYAN.
All These Things Are Recalled
in Controversy Between the
Commission and Actuary
Over Life Insurance
Company Of
Virginia.

v
Not in many years has any public
matter created more general interest
in Richmond than the controversy
arising out of the investigation OF the
affairs +of the Life Insurance Company
OF Virginia by Mr.. S. II. Wolfe. an
Independent examining actuary Of Ne"
York City. who was employed BY COL
onel Joseph Button. State Commission
or OF Insurance, to make the INQUIRY.
II is being talked of on the street
corners. in hotel lobbies. and wherever
men meet. and frankness compels the
statement that public sentiment is
overwheimingly Oh the side of the
Corporation Commission. which tri-
bunal. being the court of last resort
in such cases. absolutely rejected and
discredited the report of Mr.. Wolfe.
after fun hearing. at which both
Colonel Button and Mr.. Wolfe--bcing g
cross -examined-declared that they had
nothing further 10 say.
May Not Undc rstnnd.
1t will be recalled that Mr.. Wolfe
brought many indictments against the
company six of which were called
particularly to the attention OF the
commission by Colonel Button In the
latter's report. submitting the conten-
tions OF his New York actua-y.
All these SAKE ono, were Knocked
sout" absolutely by the commission, and
the actuary was charged in the opin-
Ion OF this distinguished bodY with
exceeding the lines of any nnihorizcd
Legal inquiry. and with making state
,nents against the company when had
no.foundatIon in fact.
But here arises the curious par. OF
the whole proceeding. wl,irh would
seen. 10 indicate that Mr.. WOLF loss
I.nt quite understand that lie is not The
head OF the insurance business in this
State but was merely cmpiovcd by
Commissioner Button to eNaniira3 inc
the affairs Of the COMPANY. aud that
when his report passed into the nands
Of Colonel Button 1t had to go TO tho
latt.r's stipcriors--the cor2pra ton
CclnnNssion-for final Judgment.
he company. whose good name had
been put in Jeopardy. comes forward
and asks tho commission for a.hearing
upon all the facts, and this Is readily
granted. Mr.. Wolfe Is put upon the
stand and cross examined. and accord
ing 10 the opinion Of the commission.
he could not sustain his contentious
by the facts he songh, to prove.
Demands Publication.
The commission hands down an opin-
ion. giving the company a clean bill
of health.'' and severely critlcizing
Wolfe for his findings. The latter. not
satisfied. makes the contention through
certain large New York insurance jour
nails that he has been badly treated
and that he will see that the public
knows the details OF his report. He
goes further; he gives out certain por-
tions of II. and then writes Colonel
Button an open letter. which is widely
printed. demanding that. in justice to
himself and the noicyho of the
company" his report be published to
the world.
He also wrote the Corporation Com
mission a letter along the same line
which that body thought and charac-
terized in communication TO Colonel
Button as 'insolent"
Not In Sympathy.
AT this pointit should be stated that
although Colonel Button employed Mr..
Wolfe, as he had a right to employ
any expert accountant or actuary
either in or out Of the State. he has
no sympathy with the position Of the
latter in either giving out or demand
ing the publication of his report.
Colonel Button is out of the city, and
will not return here until to o-morrow,
but his Deputy Commissioners, Mr.. j
N. Brenaman. yesterday sent the fol-
lowing letter to the commissioner In
answer to that addressed to his chief
by Messrs. Stuart and Willard, who
sat In the case:
Honorable Commissioners Ilenry C.
Stuart and Joseph u. Willard.
Richmond. Va:
Genuemen.--I am in receipt OF
your communication Of even date,
addressed to Hon. Joseph Button,
,,,t.n ,rf T,,r,
Ing copy OF letter from Mr.. S. II.
Wolfe.
will state that Colonel Button y
out of the city on official business,
but I expect him to be in his Office
on Monday next, when I will de-
liver to him your communication.
In view Of the statement being
made that "Mr Wolfe has the ac-
q tive cooperation Of Commissioners
Button" beg to hand you here
with all correspondence between
this department and Mr.. Wolfe
since the issuance OF your order.
May 1st. in re: Determination and
report upon the affairs OF tho Life
Insurance Company of Virginia"
Colonel Button will. communicate
with You Immediately upon his re-
turn to the city. In the meantime,
s4 desire TO say that the course pur-
sued by Mr.. Wolfe does not meet
Y With the approval Of tho Bureau
of Insurance.
Very truly yours,
(Signed) j. IN. BRENAMAN,
Deputy Commissioner OF Insurance.
Other Companies Active.
This is sufficient to satisfy the peo
rle that Colonel Button is londln,
neither aid nor comfort to the effort
OF q, mere clerk OF his department L