| Show BANK BANI TO 4 WRITE INSURANCE Important Question Now Before Before Belore Be Be- fore lore Legislature of Bay State BILL HAS STRONG BACKING Elaborate Financial System Is Formulated ty ly Friends of Measure Boston Doston May 20 Although attracting S up UI to tins this time timo comparatively little at attention lt- lt out outside of or Now ow England an un Important Im hn- movement mo to reform tire till eon conditions comB condi l- l Lions of industrial life liCe insurance lure has come into prominence In etts Consideration of a bill to permit an any or UI all of or the tIme savings saving's banks of or time tho Da Bay state slate to establish d departments oCI of oC in industrial life Insurance is scheduled to lu take lala place In Limo legislature within I lh Lire IH next few days 1138 The file measure i ilIa Is lIa based ed upon the plan Juan llan first proposed b by Louts I D D. whose Investigations lions Into the time cost of Industrial life insurance insurance in in- In- In have ha been lu published and wl widely wide wide- eh e- e ly h reo read I ITile TIme Tile bill Is fathered b by UCH Norman II It White of Brookline Behind cl the time mon movement L Is the tire Massachusetts Savings Sa Jn Insurance urance It league nue with a n membership mem mem- In iii time the neighborhood of or ono hundred thousand an and amid growing ro ln at the tIre rate mate of or live JIve thou thousand a week II of f I It Is commonly believed that the tIre bill will pass jass and anti that on or after Novem Xo November hem ber 1 next un any sa ln savings 8 bank In Iii the thc commonwealth LIt ilia may irmay after aftel Complying wI with Lit certain restrictions begin a huh huh- orto form furor of or competition with I tile the three great gleat life Insurance companies companies com corn manles that do tie ama nn arl industrial business s h I 1 I C At the oUI outset lt of or the time present session it Il I was vas predicted that tire ilio measure would set get through h In n a single Mingle year Cill Massachusetts IUS U as all the tire world knows Is a talc state with a large larg-c clement of conservatism but has tins til ways lcd Icil tire Ole way vay ay in III great nil ath van nc cos connected with savings sn institutions The timer r olk campaign pu tiC ut f t the lie Massachusetts oUs Savings S. ln s Insurance League IJ by l While I Us Lil secretary has resulted in bringing tire tile question to lo an i Issue Isue with within I n sl six x months this a after nea the time for for- or- or m matlon of the organ A long bug series of recommendations In m addition iou to the tle approval al of ur the measure mea mca s sure ure b by leading leading- business men of or till Lime s tate slate lIaM hun contributed to cause thc thiC legislators leg Jeg- i of If both bolh houses to lo take tho B measure ca very serious serious- l h ly y The rIlL rec ss Insurance committee c c curly III in the tIme winter declared strongly J In m favor or a ol ul the time plan Then Governor GO G Guild in iii his Ills inaugural was as outspoken en f for 01 or It Il In iii alt all Its essential f features Jn us Fir ir After tIre tho bill had hiatt been formula ted U b by y Mr Mm Brandt Is els with due ue it went wont to tu the thc Insurance committee of ti the re legislature leg whence Il It emerged with witha a record of only two t opposing votes voles It n now es comes carries before th representatives c- c ch I h cS wh where l' l a majority Is said al to have hav ave promised to lo vote vole for 01 it It I Time The light If an any airy Is coming coining at all uti will willbo 1 bo 10 0 In Ira the time senate In that body the bill Mill h hm lias hus as a number ur of stanch friends though m many any of the time senators are ame still non iron I c committal I It Is 14 riot not known that re will win be beany a any imy organized opposition to the tire measure urea mea s sure um-C In iii either ranch branch of time the legislature A At t time thc hearings before th time the c committee the tiui Metropolitan nun and JohnJ John J h Hancock ancock Life Insurance companies leI les both of or which do o eUl air IntI Industrial us trial business busi busi- l- l h ness lIes ess' ess were represented b by their Ice vice l presidents who stated staled expressly that they would woul not oppose the bill hill t nt l l It II Thi TIll The c a lr t most comum commonly y J hl u tire the project Is that Ihal It ii ItIs ItIs Is one OUe o of uC the mun many good causes C espoused d by r na flay state slate scuLl scuLl- but ul that thai III In pra it il wont won't WI work 11 People will nIs always have lmae to be bl i len tl tl to tu do iho their their- Jl d duly du Ly and In hui Insure In- In I sure t their heir t lI lives hives suy Il time the representative n of the time Xe Not Xul l until human nature I Is changed will voluntarily KO gu 1 to a savings Sl bank to tu purchase life Insurance policies mil even n If Ir those the were vre offered at loss cost St than the tire now pays In lit reply repty the Lire Savings 3 I III Insurance league le points to lo a lung bug hish S ot of successful men of ur affairs wio JiO ha have their belief heller In Iii the time ability of time tile ln Ha saving bank it to tu mal make c tt l III H HIn 4 In Insurance urance practicable timid and popular Th president nt of thc Lire ln league uc Is IK ux cx William L. L Douglas Douglas- who Is hI also ahlO preMI- preMI deal of or time till Peoples People's s 's Savings a o ol of r The fill rs of the Lime Ita league ue bellev c that Ihal time the plan of saving insurance 4 to be administered rell In lit c lon wILl I the general tt waving l trusts Is IN thorough thoroughly ly Iy feasible feasible- an and that thai at nt all events C I It h L should have t a ml fair all trial No Xo tta III saving JoI bunk bank will be ho obliged lu lo I mole make the ex oune one tan ian undertake It II without with with- out complying with a number of re res re- re s t Ik III In order order- to become a ni Ha 1119 and anti In In- In sura nee bunk a A new ne title till If the this bill Li t pact the project ct be bw au- au by 11 n two thirds s vote volo of or tim the U trustees tr of tle bank Next ext there lIHI must t 5 lJ bo be a 1 vote vole of or the lIlI h In corpora tors After that th a guaranty ry fund of not nol It irs less n ns s than o must be supplied l to 10 till thu hair bunk in by f spirited public or fd td d br arils or T trade Tim Insurance com com- It I- I t tj of 01 the tilt tIe stale att must Ct certify thu that thai it r t time II fund Is In large lurg-e rg e Fin Tim fill 0 bunk bk r and amid the Insurance e department I be bl In nl lIt that thai the time bank IH Is in Kon Rood good g general gener gemmer- al ul condition to 10 Once lire u bank has liars resolved to lo become a saving savings Insurance bunk tIme the of or o the time Interests of the time public continue l A general guaranty guar guar- URr- URr hut anty fund funt protect Individual banks Hater an and f im to tu be lie US used In iii the time say av- avI I K are arc mixed h by his' a u state Mate actuary timid and and-a suite medical I The Time limitations a at as to III In Investments which now apply to savings sa banks will III a apply to aca Having and amid insurance banks anks Ih Tim The whole hol ch m upon the hypothesis which Mr IT I n and sir Mr II While hu have hare et forth frequently In their thela public addresses that lite ln ur- ur truce anee Is lt simply a t specialized of or ln lIa an and amud should be so 0 regarded by the time law Ian |
