The scandals connected with the administration of the New York
insurance companies have had a remarkable develop- ment during the past week. In consequence of Judge O'Sullivan's ruling that the payments out of insurance com- panies' funds for political purposes constituted larceny, Mr. Perkins, ex-vice-president of the New York Life Insurance Company, has been arrested for having been reimbursed from the funds of that Company for a payment of $48,000 made by him to the Republican National Fund for the Presidential campaign of 1904. Mr. Perkins's counsel, however, has secured a writ of habeas corpus, which will carry the case at once to the Supreme Court. We may note that Mr. Peabody, the president of the New York Mutual, has issued a statement to the effect that his Company will do in Great Britain whatever the laws of that country require, and will abide by every demand. He further adds that they would be very glad to have several representatives of British policy-holders on their board of directors. The Bill unanimously passed by the New York Senate on Wednesday indicates the resolve of the State Legis- lature to deal in drastic fashion with the insurance question. It was announced in the House of Lords on Tuesday that the Government have decided to appoint a Committee to consider under what conditions non-British insurance companies should be allowed to do business here.
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