New-York tribune., 1922-06-17
rn,crmver Urges Law on
lakewood Committee:
Hear Experts Give Proof
of Advantages TO Public
vschold Seen in NewRole
aouse Speaker, Who Fought
Fire Insurance Curb,
|. Director in n Company

| ...t,tc- i.t- '"'N f'-~
....-s opposition that has been
.s,..S toward tho proposal in GER
..,s,rs. samuel Jrtermyer pro-
=, !. array o. experts and docu-
y. ,.,,re tho Lockwood committee
....,v ir final cfrt 20 drive home
sTist
..,5.,es q; thc last session OF the
.,,.ur. hgt failed of passage be-
4 vas said. o. the delay in It's
"a srd the obs;ructionist tactics
J,s.a.e insurance companies. Con-
- Of the great benefits that will
Ito tho workers Of the state from
-,po,ai. NJ Uutermycr is deter
! - ia. &. shall Be enacted into law
.., ,s1t session Of the Legislature.
=, oscst.ors on this point came as
,,rirg shot from Mr. Untermyer be
!, bis departure for E@-ope on tho
~r-,., to-day lie expects to return
D.. s,,.euber So. The committee ad-
.-s5 for the summer 20 be recon
sd A. the call of Chairman Lock
| ros.
Tlr, Insurance Investment Curb
g.i.r. reaes ne tho subject o. work
.,., eorpe-ra-ion insurance Mr. Tn
,-y,r oaersi additional testimony on
Z, cr,s, losses suffered hy FIRE insur-
-, eorparies through their dealings
specgiat.ve' stocks and invest
-rs L is h.s contention that these
~--arles should b. restricted 90 the
| az hrd o. investments as arc the
:, Insurance companies. 10 was
,.-,5 that through these restrictions
~, money would be made available
i- .s.dinr operations and assisting
= i'us.rg situation.
Aai covering che subject was also
.,sa,s3 A. thc .ast session Of the Leg
,t..rs. tie respons 5iity for which
4, rniermyer placed upon tho shoul-
.,r Of Speaker II Edmund Machold,
2 ts House. who is % control Of the
f.'s. Committee. which had the mat
%. In charge lr this connection an
rA.s., was placed IN the record which
esved that Speaker Lachold Is a di-
-,;or o. the Agricultural Fire lnsur-
r,e Company ~ Watertown. y. y.
hsordrc 70 The testimony. the varied
tNkht'i1gs o. this company showed
. depreciation Of S-52,7l0.
Before proceeding with his oXamina-
sion. NJ. Un,srmyer announced that
following Q conference with Morris
Z 1.i.. eogrsei for tie jew. sh Bak-
sn U's,. he bad recommended Jnat
tts BAL o. the thirty-s.x indicted Of
ffti d the -nl0n De reduced from
iAl each % $1,000. The closing Of
ne rival sho? opened by the union next
% 'sst o. Max Scflessinger as the re-
! SIT Of union sqlabble viii have no
'1sei on the course Of the tria! OF the
.-ion men fer conspiracy, said Nh
.slsnysr. lie will try them himself
sad, upon his return from Europe
Labor Leader for State Monopoly
lshn y. OHanion, Of Troy. y. !.
iErman q the legislative committed
,he State Federation Of Labor, was
= first witness called IN connection
r;s workmcr compensation insar
rt. Nr. O'Hanion said that tl'
'ssTat'0n WAS strongly IN favor Of
a.s monopoly Of this business. an'
tried 20 some Of the advantage
az could be derived from th'
.gge ston.
u the first place. there would be
rat saving TO the people. he sald
Ohio. where there is state monop
Of the business. the premium pal'
employers for the insurance is onl'
re or four per cent. while in TIM
riV. where 10 is nearly al writer
l. private companies. the premium
.ii t.om thirty-hve % forty per cent
ias witness said that other states have
,s. tvare Of the benefits Of state
-s-s7eiy, including Nevada, Washing
i,a. California and Nebraska.
W O'Hsn.on testified that under
pfsssr, sonditiors, with private COM
Stliss IN charge Of most Of the busi-
,sss, Tie workers suffered numerous
i.sstesa They rarely received their
'-I temrensatior. they were driven
10 Unfair compromises and some
s-ss lost nearly an the compensation
: Which they we're entitled through
1sn-out litigation Under state con-
s he observed that payments were
'in promp, and litigation dis
spared.
A Saving Of Millions
lt'sr prescn, circumstances he said
e. y per cent o. the compensation
i.'a,ee .n Oh state was written by
ne eomrar.es and only Q per cent
1ssie flad This class Of bust
ar THIS state totalled $4,000 600
e-ght. o. which only one-tentn
sruer b. she state board. Mr.
ic'a then described how the pri-
s1pan.es are attaching the state
-rh cries Of Insolvency and re-
- "a; payments 20 injured work
a., 10; mes promptly. There Is
,.ia IN these reports whatever
yHar.or emrhat.cally.
tv.tless declared that g saving OF
az Noo0o000 q premiums would
',tcied y the state handled this
~ Insurance exclusively. Mr. IN
ger Observed that the saving would
4 s..isf $24000.000 and would mean
\ s.soooo more in saved premiums
-s employer OF the country u
20 BY other 'ates.
Dawson. an insurance actlary
y. ,si.na'iona. fame, who made a
- N Vorsmcn's compensation for
states, foreign governments
variable agencies such as the
y sage Foundation. testified that
ili,heipal advantages OF state
10y we're the reduced cost OF
.n' ard assurance 10 workmen
- ~ would receive jus; considera-
y 'heir claims By the stat.
N'lisn. Companies Argument
-....spy % a question from Mr..
-.,.. ssi' Nr Dawson said that the
q, companies attack exclusive
s,hifoi W.,h the argument that
\, !. opening wedge for socialism.
~. '.2 claim, be- said, that state
rst u any business is inefficient.
d ~ 4lniiied was true in "a sense,
49,. not true o. The insurance
t.,A 1s he has ob.erved IL all