Items of Interest February 24, 1906 Issue

Items of Interest

Some recommendations by the committee which investigated insurance matters in New York State are, —

New policies may not be written by a life insurance company beyond $150,000,000 in a single year; limit of salary for presidents of life insurance companies is placed at $50,000 per annum, and must depend upon the earnings of the company; standard forms of life insurance polices are provided, and a company can issue but one style of policy, straight life or conditional; fraternal societies may not hereafter be chartered in that State; borrowing from his company by an official is prohibited, and participation in syndicates for the purchase and sale of securities is also forbidden. Infringement of this provision is made a misdemeanor; mutual corporations must deposit $100,000 with the superintendent of insurance.

In connection with the visit to Wellesley College of the Chinese Commissioners who have been in the United States studying political, industrial, naval, military, and educational methods, announcement was made by President Caroline B. Hazard that the Board of Trustees had recently voted to establish in the college three scholarships for Chinese women who should be duly qualified for study.

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