Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1908-04-11
PAUL MORTON SAYS TAFT
Predicts Nomination on First Ballot
and Election of Secretary.
SAFE LEADER FOR THE NATION
Three sons of the Late J. sterling
Morton Come 20 Omaha to
Hold Family Re-
union.

Paul Morton president Of the Equitable
Life Assurance s6ciety and former sec
retary Of the navy and vice president of
the santa Fe Railroad, spent Friday in
Omaha, discussed insurance, political and
commercial questions with his friends,
said he was proud to he one of Senator
La Follettes "one Hundred" who control
the commercial destinies OF the country
that Taft would be nominated and elected
president and that the insurance business
had passed from an era Of investigation
into one of appreciation.
Mr.. Morton arrived in Omaha at 1:35
Friday morning, and soon after break
fast went to the office of H. D.. Nicely.
manager of the Equitable society for Ne
braska, where he spent the morning look
ing over the business affairs of the office
and comforting with the companys repre-
sentatives.
Doubts Right to Place.
How did you get into list of 100 kings
who control the commerce of the country,
according to Senator La Toilette and how
do you like being there?" Mr.. Morton was
asked.
We'll, canddly, I don't believe I be-
long there, but / see I have been placed
among them by Senator La Toilette" re-
piled Mr.. Morton with a laugh. "As I
understnd it the list is of 100 men who
control the commercial destinies of the
country. The senator from Wisconsin does
me great honor in associating me with
that particular crowd.
But l would much rather be known as
one of the captains of industry who are
trying to upift and advance the country's
welfare and promote it's commerce. than
l would to be known as a major general
of politics. leading force calculated to
dwarf the business interests of the nation.
1T is better to be booster than a
knocker."
Taft n Sure Winner.
Asked about the national political situ-
alton, Mr.. Morton said without hesitancy:
Il think William II. Taft will be nomi-
mated on the first ballot and elected in
November. He is big broad shouldered,
well informed. all-around statesman of
vast experience and the country will be
| absolutely safe under his administration. -
The panic vindicated the great life in
surance companies according to Mr. Nor
ton, who said in reply to the question as
to what forms of investment insurance
money was seeking;
"The intention of the Equitable Life So
| ciety is to invest its funds where II gets
its business All we have for investment
is our reserves.
our reserves on outstanding insurance
amount to about 2O.0O0OO0 in Nebraska
while ouI total investments in this state
approximate over 100000 These invest
ments are mostly IN railroad bonds. al.
Though we have some real estate mort
cages and some policy loans
II know of no better way a great finan.
cial institution can more generally serve
its constituency and a community than by
supplying money to afford adequate trans
portation facilities, as it is absolutely neces-
| sary to have distribution in order to stimu-
late production.
BeIOnE to POIicyhoIders.
"The big life insurance companies are
owned by the polcyholders and the rail-
road securities held by them belong to the
pollcyholders. The Equitable society alone
holds about S2OO,OO0OO0 in American railroad
securities. l imagine the New York Life
and Mutual own as much again or together
$500, 100000 or $7OO,OOO,OOO. These bonds be-
long to the people, so do the railroad Sc
curities held by the savings banks, trust
| companies and other similar institutions,
and 1t is well to remember in dealing ad-
versely with the carriers of the country
that it is the common people who have to
foot the bills
"The life insurance business is improv-
ing; the business is 60 per cent better than
last year. We have passed out of an era
of investigation into one of appreciation.
The panic emphasized the fact that life
insurance is necessity, not a luxury.
"The very fact that our society alone was
able to lend its policyholders more than
100000 per week during the three months
following the financial furry in the coun-
try with no other collateral than their
policy contracts; that these loans were
made at a low rate OF interest and very
promptly al a time when it was impossible
to get money elsewhere. made most favor
able impression on the country"
For several weeks Mr.. Morton has been
touring the Pacific coast country and ex-
pressed himself as having the very best
kind Of time and finding everything in
good condition in the west. He will leave
Omaha early Saturday morning.
NEELY GIVES PRIVATE DINNER
Nahwaakm -