The Birmingham age-herald., 1910-11-27
RIGHTS OF POLICY
 HOLDERS UPHELD Insurance Man Takes Up the
 Cause of Railroads MONEY IS INVESTED George E. Ide Appears Before the In- terstate Commerce Commission to Speak in Behalf of High
 CT Freight Rates

Washington, November 26.-The inter ests of the life insurance companies With their 20O00,00O policy holders, in tht avoidance of any federal action tha might impair their investments in rail read securities, was called to the atten ton of the interstate commerce commis. sion today by George E. Ide, president o- the Home Life Insurance company oi New York.
 MT. lde testified that he appeared be- lore the commission in it's investigation or the proposed increase in freight rates as the spokesman of the Association of Life Insurance Presidents and the vast army of policy holders He declared a raise step by the commission would seri- ously affect vast number of citizens who were indirectly but intimately related in the prosperity of the railroads. and what ever action the commission took would be regarded as precedent to guide the commissions of the various states.
 MT. Ide declared that the individual in- vestor had his rights, but was unable to appear for himself. Under the general economic system the small saver who might become the future capitalist was a partner in these enterprises. He con- tended that anything affecting unfavora- Ely the prosperity and extension of the railroads ultimately would be felt by the small saver whose welfare was of vital importance to the upbuilding of the na- ton.
 or the entire bond issue of the steam railroads of the country amounting to SJ.ll lA.fn a Mr Tda f11a1 Co ance companies doing business in New York state hold $,1S9, ,000,000, or one eighth. The 20,00000O policy holders are all collectively and individually interested in the integrity of this investment Any move which even sentimentally affects rnfavorably the railroads of the land will strike a blow at these securities. It is not necessary to reduce the railroads to a condition. of bankruptcy before the value of the underlying securities is af- fected"
 Why such trepidation at this time? 2" asked Commissioner Lane when last year was the best year the railroads ever had?"
 Tt Is looking to the future" replied MT. Ide. T know that such sentiment exists.''
 MT. Ide said the plea for investment se- curity integrity might well be extended to safeguarding the savings banks and educational institutions.
 E. D. Williamson, freight commission CT for the commercial organizations of Cincinnati resumed his testimony, tell ing about the remarkably good" finan- cial conditions of the American railroads He said that since the Hepburn act the public had been contributing greater rev. enues to the railroads, and the effective enforcement of the law against rebates practically spelled the difference between bankruptcy and prosperity for the rail- roads.
 He declared that the basis of credit of nearly all the railroads was good He told of what he termed pessimistic pam phlet prepared , by Chairman C. C. Lane of the Trunk Line association which he said was distributed by rail- roads. though 1t seemed to "bear the mar ket against themselves" the document deploring the rate situation as threaten mig the stability of the railroads. He se- verely criticised that pamphlet as reflect ing on railroad security integrity
 He dwelt on a letter in reply which his commercial organization had sent to President Brown of the New York Gen. tral deploring such pronunciamento from the railroads. He told of the pur- chasing agents of the Chicago Great Western, the Chicago, Rock Island and Pacific and the Chicago and Eastern H. linois soliciting signatures of shippers to head off opposition to increase In rates, similar letter being sent out by the Grif- fin Car Wheel company, railway sup ply concern of Chicago.
 The rate increase hearing will continue next Tuesday.