Mr. Sherman to Mr.
White.
Department of State,
Washington
,
May 25,
1897
.
No. 5.]
Sir: I inclose for your information copy of a
letter of the 18th instant, from the Hon. Cushman K. Davis, chairman of
the Committee on Foreign Relations of the Senate, in relation to
American insurance companies, [Page 206]
and particularly the Mutual Life Insurance Company of New York. A copy
of the Department’s reply is also inclosed, together with a copy of
Senate Ex. Doc, No. 140, Fifty-fourth Congress, second session.
It would be well for you to apprise yourself fully of the present status
of the matter by conferring with Mr. Uhl as soon as you reach
Berlin.
Respectfully, yours,
[Inclosure 1 in No. 5.]
Mr. Davis to
Mr. Sherman.
United States Senate,
Washington
,
May 18,
1897
.
Dear Sir: I have the honor to transmit
herewith a letter from an esteemed constituent of mine, Mr. E. W.
Peet, of St. Paul, respecting the action of the German Government in
regard to American insurance companies, and particularly respecting
the Mutual Life Insurance Company of New York.
I also inclose Senate Doc. No. 140, Fifty-fourth Congress, second
session, in which many of the facts in this matter are presented in
convenient form. I have the honor to request the attention of your
Department to this subject. I shall take early opportunity of
conferring upon it with you personally.
Yours, truly,
[Subinclosnre in No. 5]
Mr. Peet to Mr.
Davis.
The
Mutual Life Insurance Company of New York,
St. Paul, Minn.
,
May
15, 1897
.
My Dear Senator: May I ask your kind
offices in the matter of the pending application of the Mutual Life
Insurance Company of New York for readmission into the Kingdom of
Prussia.
Since my interview with you on this subject in March last there has
been no material change in the situation. The long-pending
application of the American life insurance companies for readmission
into Prussia was considered by the Prussian ministry, but no
conclusion reached.
The concession to the Mutual Life Insurance Company of New York to do
business in Prussia was granted in November, 1886, but was canceled
by decree of that Government in 1892, although they had in the
meantime complied with all of the requirements of the Prussian
Government and spent a great deal of money in establishing their
business there, and erected a building in Berlin and invested in a
great many of the Prussian securities, relying upon the continuance
of the concession (which was unlimited in time), and they are now
and always have been willing to comply with all reasonable
conditions that the Prussian Government may impose.
As you are aware, the only avenue of approach to the Prussian
Government open to the company is through the State Department and
its ambassador to the German Government.
I now especially request that at your earliest convenience you will
personally bring the subject before the honorable Secretary of
State, and urge him to request the present ambassador, Mr. White, to
use his good offices in furthering the interests of American life
insurance companies in Germany and in obtaining favorable action
upon the pending application for readmission to transact business in
Prussia.
The entire history of this subject and all the correspondence between
the State Department and the German Government will be found in
Senate Doc. No. 140, the publication of which you so kindly
procured, copy of which I inclose. The letter of the president of
the Mutual Life Insurance Company of New York, commencing on page 4
of that document, gives the history of the entire case, and many
cogent reasons why the concession should not have been canceled.
[Page 207]
The American life insurance interests are of great importance and the
action of the Prussian Government in canceling the concession of the
three largest companies, the Mutual Life of New York, the New York
Life, and the Equitable Life, has already done great damage to these
interests, and the continued refusal or delay in acting upon the
question of renewing the concessions is a serious matter, and you
will be conferring a great favor not only upon me personally, but
upon the officers of the Mutual Life and its policy holders
throughout the world, by assisting in obtaining through the State
Department the renewal of this concession by the Prussion
Government, as their refusal to grant permission to do business
there not only prevents doing business in that country, but
unfavorably affects the business throughout the whole of Europe.
Thanking you in advance for this great favor, and hoping that you
will find it consistent with your duties to give the matter your
personal attention, I beg to remain, Very sincerely, yours,
[Inclosure 2 in No. 5.]
Mr. Day to Mr.
Davis.
Department of State,
Washington
,
May 21,
1897
.
Sir: By direction of the Secretary of State
I have the honor to acknowledge the receipt of your communication,
inclosing a letter addressed to you by Mr. E. W. Peet, of St. Paul,
Minn., in regard to the interests of American life insurance
companies in Prussia, and particularly respecting the Mutual Life
Insurance Company of New York.
In reply I have to inform you that the important subject in question
has had the Department’s constant attention, and considerable
correspondence has been exchanged with Ambassador Uhl since Senate
Ex. Doc. No. 140 was printed, but without materially altering the
situation. When the lately commissioned ambassador, Mr. Andrew D.
White, was recently in this city receiving the instructions of the
Department touching the duties of his office, particular
consideration was given to this question of the revocation of the
license of American life insurance companies to do business in
Prussia, and Mr. White fully understands that he will be expected to
continue the urgent representations made since 1895 against this
action of the Prussian Government.
Respectfully, yours,
William R. Day,
Assistant Secretary.
