Mr. Jackson to Mr.
Olney.
Embassy
of the United States,
Berlin, August 7, 1895.
(Received August 26.)
No. 328.]
Sir: Respectfully referring to my dispatch,
No.300, of the 12th ultimo, I have the honor to transmit herewith a
copy, with translation, of a memorandum to-day received from the foreign
office in reply to that left by General Runyon, in compliance with the
Department’s Instruction, No. 313, of June 4 last. A copy of this
memorandum has been sent to Mr. McClintock, of the Mutual Life Insurance
Company of New York, but it is understood that no discussion of it is to
take place for the present, at least until after a reply to the
memorandum left by me with Baron von Rotenhan on the 9th ultimo has been
received.
I have, etc.,
[Inclosure in No. 328.—Foreign
Office.]
pro memoria.
At the commencement of the year 1890, detailed instructions were
issued by the Prussian minister of the interior regarding the manner
in which the accounts of insurance companies—both domestic and
foreign—should be rendered. These regulations have been complied
with by all the life insurance companies holding concessions in
Prussia, with the exception of the American, Mutual, Equitable, and
New York Life Insurance companies. The regulations issued refer,
among other things, to the manner in which the accounts are to be
rendered regarding tontine business. The assertion of the Mutual
that it does no tontine business is contradicted by competent
experts. As the Mutual does not think that it is able to comply with
the provisions as to the manner of rendering its accounts, the
withdrawal of its concession is threatened. On the strength of the
memorandum which was presented by his
[Page 440]
excellency Ambassador Runyon on June 26 last,
the minister of the interior has again had the matter investigated;
as the result of this investigation, he does not find himself in a
position to revoke the injunction placed upon the Mutual to refrain
from issuing new insurance policies in Prussia; in the contrary case
the withdrawal of the concession would necessarily ensue.
No reply has as yet been received at the foreign office to the
memorandum presented by the chargé d’affaires on the 9th ultimo,
which, with its inclosure, has been referred to the minister of the
interior.
