Show TO RESTORE confidence OF INSURED governor odeal outlines legislation whish would curb irregularities of big companies newburgh N y july governor odell upon being asked be had asen the evidence secured by superintendent hendricks n the equitable matter published in the new york world today replied that he had when hi attention was directed to an editorial in the same paper h said that any inference that he was concerned ned in the preparation of the report was absolutely without foundation continuing he saidi at a with 9 governer govern pr jn albany just prior to the preparation of his message to the extra session ot the legislature this subject was discussed I 1 believe the people expect legislation which will remedy the existing evils stad restore the confidence of the pol who have so much at stake sly observation has led me to believe that the connection of the life and other insurance companies with subsidiary corporations such as trust companies and banks is dangerous and that a feces alfy exists tor a divorcement between these interests then the connection af pf insurance officers with other insel often leads them to disregard the obligations which are upon them as officers ot insurance companies or the purpose of advancing the interests of such other com panics and syndicates through which real estate and other schemes are worked and I 1 believe that legislation should be framed and enacted to prevent such acts on part of insurance officials in the future further U seems to me that tha scope pt investments should be reau and there as no reason why insurance companies should not be safeguarded in the same or a similar manner as savings banks 1 I am confident that if insurance investments were restricted and safeguarded there would come a great volume of money for legitimate real estate investment and it would bs impossible tor a logs to occur to the insurance company such as the so called depew land investment of the equitable lite 1 I believe further that it would be a great mistake on the part of the republican organization and the majority SH the legislature to refuse such relief as beems to bs demanded by the present condition of affairs in the in aurance world |