Evening star. [volume] (Washington, D.C.) 1854-1972, 1913-05-26
SENATOR SCORES
INSURANCE FIRM
Williams Declares Campaign
Contribution by New York
Company dishonest"
EXEMPTION FROM NEW
INCOME TAX is ASKED
President D. P. Kingsley Wants All
Insurance Not for Profit Elk
cluded From Assessment.

Darwin +. Kingsley. president OF the
New York Life Insurance Company. ar
pealed today to the Senate subcommit-
tee handling the income tax section OF
the tariff bill To exempt all insurance
written for protection and mutual
benefit and not for profit. lie had
spirited exchange with Senator Will
liams over campaign contributions dis
closed in the Hughes investigation sew
eral years ago.
When your company paid $50 coo
to a campaign fund" asked Senator
Williams. none OF that money ever
ers was it,"
Then that proved that your COM
pany's assertion that polcyholders
participated in all the earnings OF the
| company was false. didn't it,"
1T proved" Mr.. Kingsley returned.
that the Judgment of the compa ny 3
officers who paid this campaign con-
| tribution thinking il WAS necessary to
protect the assets of the company was
bad.
Calls It Absolutely Dishonest
1T proved more than that as
| serted Senator Williams 1T was abso-
lutte dishonesty. / was a policyholder
| and democrat. and you took part OF my
| money and give il away TO protect me
against my own party. But has all that
sort of thing been done away with ia
| the insurance business?
absolutely" replied President kings
ley. He explained laws which prohibit 1t.
/ President Kingsley submitted a detailed
| statement of HIS company bus ness and
resources to show that II conducted bust
! ness actually on mutual bass. The total
4 of the last wear we're
| $7i900O.OOO and he declared not dollar
/ was kept back from the fund In which
| policyholders participated
Shoe Manufacturers Protest.
Shoe manufacturers protested before
Senator Johnson's subcommittee today
against the free shoe" provision OF
the Underwood bill. ]. r. McE.wain
of Boston declared English shoes were
made at "A labor cost of "a cents per
pair less than American shoes
I'VE want free raw materials ard
enough protection to put us on an
equality with the English manufac-
turer," he said.
Stanley King of Boston urged that
IL the Senate left boots and shoes on
the free list 1T should take the duty OH
all materials entering into their pro-
duction.
Reduction or Uuty urged.
Frank SamueIs of Philadelphia told
the senate finance subcommittee, pre-
| sided over by Senator Stone, that tue
| present price for ferromangahess
ore. the Is per cent duty in the tn
| derwood bill, would be nearly 500 per
| cent higher than the present tariii
| rate He urged reduction of the duty.
/ e. c. Young of Chicago. asking Tor
an Increase OF the Underwood rate OF
| Is per cent on sewing and embroidery
| silks to 80 per cent, predicted that the
| Underwood rate would practically de-
| stroy the industry.
Clothing Makers Indifferent.
Senator Pomerene of Ohio said to-
day that large delegation of manu-
Ifacturers of clothing for men and WON
en- from Cleveland. Cincinnati and
Ohio cities had called and Informed
him that they did not care one way or
another about the tariff placed upon
ready made clothes.
"They told me-" said Senator Pom
creme, that they were ready right now
lto go into foreign markets and compete
with the foreign manufacturers on
ready made clothes. What they are
after is that the date for the schedules
Of the tariff bill to become effective
shall be put off long enough after the
passage OF the bill to enable ,hem 10
| adopt their business to the new rate.
| Senator Pomerene pointed out that
| these men represented the largest cen
ters of the ready made clothes in TINS
country, outside Of New York. He said
their request that the date when the
! tariff rates should GO into effect De
postponed was being given serious con-
federation.