New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-03
Ask Hearing on
Teuton Insurance
Local Underwriters Going
to Washington, Fearing
German Spy Menace
By BRIGGS

OtHdJOE Il IeIlhsn Sch hSINhNS VI
his amendment to the trading with the
enemy act, by which German insur-
ance companies are permitted to re-
main in business in the United States,
sustains the argument of these who,
realizing the aid these companies are
in a position to give to the German
spy system. would bar them from the
insurance field"
This declaration was made at con-
ference in the Lawyers Club yester-
day, at which it was decided to ask the
Senate Committee on Commerce, before
which the trading with the enemy act
is pending, for hearing on the FIRE.
linghuysen amendment. At this hear
! ing it is purposed to submit mass Of
testimony from leading underwriters
showing that such companies are not
in any way essential to the business.
That part of Mr.. Frelinghuysen's de-
fence of the German companies quoted
as sustaining the contention of those
who would bar all German companies
from business as one way in which to
reduce the spy menace, reads as fol-
lows:
Maps Open to All Agents
"All the maps showing water lines
and such other information as is vital
in writing insurance on property is
open to all agents"
This" one speaker argued, ais not
an argument for the retention of the
German companies. 1t is an argument
for the exclusion af all Germans from
insurance circles, whether as agents for
German companies or American, and
sustains everything that has been said
in favor of such exclusion"
A sample of the information avail
able to such agents is pink sheet
issued by the New York Board of Fire
Underwriters in possession of The
Tribune. Labelled Strictly confiden-
tial," it notes changes in the handling
of explosives at this port, specifying
the yards and terminals in which ex-
plosives in bulk are handled ard
where ammunition is stored.
Then in detail it gives the location
Ct the several yards and in some in
stances the method in which explo-
sives are handled. 1t further gives
list of the dynamite magazines in the
city together with the amount of ex-
plosives each is supposed to contain.
To any one wishing to keep tabs on
the movement of munitions it is an
excellent guide, while for the person
would would inaugurste a reign OF
terror by causing series Of Black Tom
explosions, it would save lot of time
and trouble investigating.
Ii is a fair sample of the mass of
information of military value in circu-
lation in insurance districts.
Will Follow Example
Discussion of the action of the Law
yers Mortgage Company in putting a
ban on all insurance companies doing
business with German insurance COM
panies developed the fact yesterday
that similar action is under considera-
ton by other large lenders of money
on mortgage. Private lenders have al
ready followed this course TO a con-
siderable extent. as is evidenced by a
switching of policies to strictly Amer
lean companies.
An interesting feature of this change
Is tne comparatively large NUMBER OF
policyholders with German names who
figure in the new policies.
IAN indication of safety first ten
denotes" is the explanation of the
underwriters.
Ricahr VI. Hurd. president of the
Lawyers Mortgage Company and chair
man of the board of trustees of the
American Defence Society, told the
Rotary Club yesterday that any Amer
lean insurance company that leans on
German company for reinsurance is
trusting to a bankrupt concern. He
spoke at luncheon given at the Hotel
McAlpin.
Germany, in my opinion. is bank
rupt now" Mr. Hurd declared.
He also warned against German peace
offers.
at is not true" he said, chat we
! have no quarrel with the German peo-
pie. II the German people were not
back of the Kaiser and militarism
there would be no war. The Germans
are indicted by their own peace writ
ingh"