New-York tribune., 1908-12-05
TO HONOR CLEVELAND
DR.. J. H FINLETS PLAN
Preserve His Birthplace, He Sug-
gests to Insurance Heads.

Life Building, DR.. John H. Finley, president or
the City College. suggested that the American PEG
pie purchase and preserve as national memorial
to Grover Cleveland the old house In Caldwell.
\. J., IN which he was born AS a close personal
friend Of Cleveland. Dr. Finley spoke to menl-
bers and guests about the dead statesman. who
during the last three years of his life was chair
man of the association The NOR ing session Of
the meeting was given up to exercises in Cleve-
lands honor
DR.. Ffnley's suggestion was received with evt
dent favor by the insurance present, who rep
resented about a third OF the n life insurance
companies in the United States and Canada He
also urged that rugged stone wall be erected on
both sides of the road leading up the hill in New
Hampshire which Mr.. Clevelands country home
stood. Mr.. Cleveland had expressed the wish, he
said that day the tortuous road leading up
the hill might be straightened and made easier for
and beast. Since the former Presidents
death DR.. Finley said he had personally seen TO II
that srraighter road had been built. but he
now wanted to stone wall on either SIDE
with great granite posts at the ends. THIS Work,
he thought, should also be undertaken by the ma
ton proof of the gratitude :t felt for sA
Cleveland had done for his country.
TRIBUTE FROM MR. PEABODY.
Charles A Peabody, president of the Mutual Life
Insurance Company, presided chairman Of the
meeting Mr.. Peabody paid brief tribute TO Cleve-
land whose name, he said, had been bulwark
Of strength to the association. He then introduced
Paul Morton. president of the Equitable Life As
surance Society, who spoke Of his personal rela-
tons with Cleveland, Of whose second Cabinet his
father was a member; Of the former Presidents
connection with life insurance affairs, his regard
for economy his keen interest in the small policy
holder and his broad view of the duty which led
him 10 lend his influence and reputation for nice
honesty TO the Of rehabilitating the insttu-
ton Of life insurance in the minds OF ths peoples
Dr. Finley followed Mr. Morton, telling any
anecdotes illustrate Clevelands concern for the
public welfare above personal considerations or the
interests Of friends.
Letters OF tribute were read from Hilary A Her
bert, Judson Harmon Governor-elect Of Ohio, and
Governor Hoke Smith of Georgia, all Cabinet ON
GERS under Mr.. Cleveland, and from Adlai Steven
son. Vice-PIesident Of the United States during
Mr. Cleveland's second term David R. Francis OF
St. Louis. another member Of Clevelands Cabi-
net, his tribute in a telegram. Mr.. Harmon
said IN his letter:
He companionable, agreeable and oonsid-
crate. He was greatly amused when told him !
his official advisers The general idea that
them at al Y aid so aus an act of Useless foTmaiity
But he was always glad to ask and consider sug-
SUBMIT important a % matters for discussion save
the case OF his famous Venezuela message 1ms
he read to the Cabinet but did not submit
Mr.. Herbert wrote of Mr.. Cleveland as the first
great pacihcator between North and South In
his first term. he said. he abolished the political
watohwords of Southern brigadierS' and bloody
shirt" The letter continues:
He chose the most effective r1ethod-ex-Coufed-
crate soldiers and eK-Unton soldiers were alike
made Cabinet officers, postmasters, foreign minis
Of so;utbern dtsioyaIty was andsd The fidelity, 70
their Of Confederate officers was the com
plete answer, and a of good feeling pc
gan, Kindler relations sprang up at once be
gan to study for theInseiVes the ko[IloIe . as
tiS,-S the south il -''1 0-''-'' ''''' ''-' 49,
Nj Stevenson wrote:
The ability and lofty statesmanship Of MI Clsve-
land are qwn to the ne Public & eas ri. o the great sX
ecutive Office is known best to those with whom he
was in official Ably and 1gi with aHnt na9te
Fftua3ion. sit and the Tecord he left will safely
abide the test of time.
CONSIDERED IT A DUTY.
The telegram sent by David r Francis who was
Secretary Of the Interior under Mr., Cleveland. in
cluded the following:
When he assumed the duties Of trustee IN con
nection with life insurance he did so because. as
to e the fSG wor Of his new position the same pansta
sre Ins F his ana oc @ Hs Should hsye ded
after His taking off off T ssf qnTy nfeTe nGt 10 0RG %c f
was giving his attention but because the influence
ing IN safa and ish2 I n beneoiaL 9 his ' exsps is Prise
less herItags Ss5 OF % Men s fn'e IN Rns ouE c6n{ry
due appreciation.
At the business meeting early IN the morning
r L Cox general counsel and manager 81 the
association presented the financial report Of the
year. II showed that the entire cost to the nine
teen companies constituting its membership had
been sS9 Il for each million dollars Of assets held
bv the companies. AS the companies had out
standing policies to the number of nearly twenty
million the expense Of the. association TO each
rolicv was on the average about four-tenths of
per cent The Washington Life Insurance Com
panv. Of New York applied for and admitted
to membership.
Mr. Cox was reelected 10 his Office. The mem
hers also reelected the executive committee, con-
sis+fng of T A Buckner, vice president Of the
New York Life; s. c. Durham, president OF the
Travellers Insurance Company, Hartford, Conn
Haley Ftske. vice-president of the Metropolitan
Life: L @ Fouse president OF the Fidelity Mu-
tisI Life Insurance Company Philadelphia; George
z Ide president of the Home Life; Paul Morton.
president Of the Equitable, and Charles A Pea
BODY president of the Mutual Life.
The afternoon session given up to addresses
on the taxation Of life insurance. Mr.. Cox led off
by speaking On The Objects of the Conference
and Necessity for Cooperation" He said among
other things
a TG obtan "a Dres9n rsf rae 4 and and Ros Of taaon
Of life insurance ts not your personal prooein ex-
sep sRyAs IN Anv further concern on your part arises
from the duty deyolvn upon you TO- l0oR olT Tor
This meeting is therefore being held mainly to
discuss ways and Of bringing legislator @ n and
burden imposed upon polcyholdeTs by leslSlauFe
We have heard much OF the burden OF life in
srancs taHap9q t9 as fs IN eoopeTat
sharing OF losses caused by the HntiInsly death OF Of
he suPpot 81 S"o 6nd That his burden is borne
SOLELY nv policvhulders is not well known, nor
has It hitherto been seriously considered by policy
While expenses Of management are very properly
being carefully scrutinized 1t may be wen 70 Isn
nearly equals the salaries paid executive officers,
administering the affairs Of the companies at ther
home Offices.
FRATERNAL INSURANCE DOOMED.
IL Of VALE