. Review of reviews and world's work. ce, much less hearty and unreserved ap-pi-oval, within and without the State. This hasbeen the experience of Senator Armstrongs in-surance committee, which held public sessionsin New York City during the last four monthsof 1905. It has now reported the results of itswork to the Legislature, together with a seriesof recommendations designed to put an end tomany of the abuses brought to light in the courseof the investigation. Among the most radicalof these propositions is the prohibition of syn-dicate operations on the part of insui-ance offi-cials. The com
. Review of reviews and world's work. ce, much less hearty and unreserved ap-pi-oval, within and without the State. This hasbeen the experience of Senator Armstrongs in-surance committee, which held public sessionsin New York City during the last four monthsof 1905. It has now reported the results of itswork to the Legislature, together with a seriesof recommendations designed to put an end tomany of the abuses brought to light in the courseof the investigation. Among the most radicalof these propositions is the prohibition of syn-dicate operations on the part of insui-ance offi-cials. The committee would also limit the writ-ing of new business by any company in a singleyear to the sum of $150,000,000, and wouldstrictly limit the nature of investments of lifeinsurance companies. Many other recommenda-tions wexe derived from the various lines oftestimony followed by the committee under theable direction of its counsel, Mr. Charles On the much-discussed question of de- 394 THE AMERICAN MONTHLY REVIEW OF REI^ StereiJti|ili- (IPjriylU, 1905, by Underwnod &? Inderwoixl, N. SENATOR WILLIAM W. ARMSTRONG, OP NEW YORK. (Chairman of the legitslative committee which has com-pleted the most exhaustive investigation of insurancemanagement ever made.) ferred dividends, the committee declares its opin-ion that such dividends shouhi be prohibited,that there sliouhl be an annual distribution ofsurplus, to be applied in reduction of premiums,in purchase of additional insurance, or in cashpayments, at the option of the insured. Theresume of the testimony taken at the publicsessions of the committee is a remarkable pieceof work, and renders effective for legislative])urposes an immense amount of informationwhich, but for the uni(]U(^ ability of the commit-tees counsel, must have remained undigested,and lience practically useless. The insurancecompanies have availed themselves of oppor-tunites offered by the Legislature to presenttheir Objections to the several
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