| Show HOW THE excess loading of premiums and rebate commissions As disclosed by one of the officers of the equitable LANDS FOR PEASANTS NOV 22 the state department today received a ca mr addy the charge daf faires ot the american embassy at st petersburg cringing this information the imperial proclamation today states that during the year tho payments on land granted to peasants will be diminished by one half and will cease entirely on january ast 1st 1907 the peasants then becoming owners of the land for peasants who have not taken up land the emperor will afford increased facilities through ala peasants banac to advance them money so that they may profit ty the new arrangement new borit nov 22 gage E tarbell second vice president of the equitable life assurance society who was on the witness stand when the insurance investigation committee adjourned last night resumed his testimony regarding the agency system of the equitable he submitted a specimen contract made with agenda which was offered in evidence as also were letters which accompany contracts explanatory plan atory of the allowance of commas sir tarbell aid the figures in the report of the prick investigating committee as to tho commissions to equitable agenas were made without any investigation whatever mr said the system of loading premiums was originated to ensure the ability c companies to meet any contingency of claim or ex penso he bald that premiums are placed higher than is necessary for safety and the excess loading is returned to policy holders in dividends of surplus of the equitable society at tho end of mr tarbell said about is set aside for deferred dividends lut the company does not recognize any right of the policy holder in tho until the policy has matured or reached the point at which it haa earned its dividends this could bo used to defray any contingency that may arise mr tarbell said that an extra commission of 10 per cent waa allowed general agents on business written between july and december 1905 this was done witness said to enable the agents to make a compensation on which they could because of tho difficulty of getting people to ina tire mr tarbell said ho and his family were insured for about in the equitable society he said he received commissions on this insurance and also received the renewal commissions although the insurance was written through a general agency he paid tho premium to tho equitable society and received the commission through the general agency he also ha insurance of in the now york life insurance company in the travelers insurance company and in the aetna lite insurance company in all these cases ho received the agents commissions fand the policies taken out about 10 or 13 years ago he arranged his policy and in the new boik lite with george W perking said he thought thin has al waya been the general practice for officers of the insurance companies to draw commissions on their policies cither in their own company or in others ho declared that it wag not rebating he thought he was entitled to tho commission |
