Inter-Mountain Republican | 1906-02-26 | Page 9 | Doesn't like the Report

DOESN'T LIKE THE REPORT Sees sc no Advantage J II C In Arm Arm- Ucc tin II t St. St Paul Minn Feb Feh 25 Regard RegardIng Regard Regard- Ing lug the report fJ of the tho Armstrong insurance In Insurance In- In committee of New York In InsuranCe Insurance Insurance In- In Commissioner OBrien O'Brien of this state twirl said today I dont don't think the recommendations go 0 far ar enough in the matter mailer of In- In There should be a 0 system tem not only for fOl restricting the character char- char actor acter of or investments s but requiring their distribution These New York companies should distribute their asset as- as set seli b by judicious Investments throughout through through- out the territory from rom which they derive derive de de- rive rl their thell incomes The Armstrong Armstron report doesn't loud touch upon the Iho tant t- t ant question Iut of or distribution of assets as- as a sets sels and I b believe just as ns long Inns as lite these Immense assets are an Invested through the large centers In a 0 class of oC securities securities ties tics the thc notation flotation of which constitutes so large a portion of or the business oCth of oC th the brokers or 01 promoters just so long longwill longwill longwill will the temptation exist to conti control 01 these companies In the Interest of partle other than policyholders The Iho suggestion in the Armstrong Armstron report made for Cor the tine purpose pUllO e of or glIne giving gl ing Ine the tine policyholders better boiler control of at the management In my opinion are alC of no value alue Tho The New Xe York Life has practically adopted that system already The suggestion that lists of policyholders bo bl pled filed with the insurance Insul ance department for fOl public nubile Inspection Is very Important and might have considerable effect but beyond boond that the plan proposed Is no Improvement Improve Improve- ment An Any group s-roup of oC policyholders numbering num num- bering Is given the right ht to mal make a nomination but no system is su suggested suggested sug sug- by which the policyholders can take un any united action except as to tle directors nominated b by Ihu tiu t Irus- Irus us- us tees lees There Thero Is no solution of this Ihl problem fit except the tho Introduction on of a representative c form fern olm of or government go I