New-York tribune., 1910-11-27
G.. {. IDE URGES CAUTION
Speaks for Life Insurance Inter
ests at Rate Hearing.
WARNING TO COMMISSION
Protests Against Any Action
That Would Injpre Securities
Held by Companies.
IF-om TIE Tribune Bureau.

Washington. Nov. 26.-George f. Ide.
president OF the Home Life Insurance Com
psny OF New York. urged before The Inter
state Commerce Commission to-day that
The 20 eaa.eeo life insurance poucyholders n
the United States be considered before any
decision was reached on the proposed in
crease IN freight rates In injecting this
new element into the investiea lion Mr
Tde was the spokesman for the Association
os Life Insurance Presidents. and his views
have been submitted 10 and approved by
Paul Morton, head of the Equitable Life
Assurance Society President Ide declined
- express an opinion as 10 the justice Of
the proposed increase in freight rates. but
he impressed on the commission the neces-
ssty OF dealing with the problem in a man
ner which would not depreciate the rail-
road securities owned by the Insurance
companies as trustees for %. 90 90 persons.
NJ Ide declared that a false step by the
commission would seriously affect a vast
number OF citizens who We're indirectly but
in- -.1nately interested in the prosperity Of
-he railroads. and that whatever action was
taken would he regarded as q precedent 20
guide the commissions of the state. The
individual investor. he said. had his rights.
h..- vas unable 10 appear for himself. In
de- the general economic system the small
saver. who might become the future capI-
talist was a partner in these enterprises.
~. contended that anything which IN
r ora bIv affected the rrosnertcy and exten-
sion Of Ire railroads ultimately would be
felt hy the small saver. whose welfare was
o. vital importance 10 The upbuiIding OF
the nation
- ra S4a IN
raT-oads Of this country, amounting TO
g Us. .0G0 Ga0'' said NJ. Ide. The life insur-
ar~e comparies doing business in New
York state hold Sl.13e. .e.l CSC. or one-eighth.
TIE twenty million policyhol6ers are all
collectively and individually interested fn
t-e integrity - Jhis investment Any move
v~-.ch even sentiTnentaIly affects unfaTor-
sr-v the railroads Of the land viii strike
2 slow at these securities It = not neces-
So m reduce tire railroads 10 condition
- bankruptcy before the value Of the
underlying securities Is affected
why sach trepi6arion al This tmec
asked Commissioner Lane. when last year
was the best year the railroads ever had2'
IL Is as 20 the future" replied Mr.. lde
-- know that such sentiment exists
NJ Ide said the same plea might well ne
extended 10 safeguarding savings banks
ard educational institutions d.
The railroad securities hold by his CON-
rzuv. Mr.. Ide said, paid an average Of -
oe- cent. which he declared 70 be some
what lower than the return on the invest
1lenI i've years ago.
E z Williamson. freight commissioner
fo- the commercial organizations Of Gin
oinra1i. resumed his testimony, telling
zbour the -'-ema-ha hly good financial con-
-f--or7 If -Ha Ar---ican railroads He said
-hRt since the passage Of the Hepburn act
re public had been ConrTi b71tiUg greater
revenues 70 The railroads. and that The ef-
fecrive enforcement Il The lax against re
hates practically meant the difference be