The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1870-02-10

umns, will only refer to the case of the Man.
ufacturers' Company, Of Boston. that being
made prominent in the report of Mr.. Paine. as
one OF the most , successful in 1863, showing
stands the case with them? The companv maid
1928 900 losses in the city of Portland in ises
and are now nearly 800, 900 out Of pocket for
their business in Maine. The Metropolitan
Company, of New York, has paid S25ooOO
into Maine since 1868, and has received Sin 2iS
in premiums during the same time, The old
Hartford, Etna, Phoenix and other HartSord
Boston, Springfield and New York comnanies
show balances against them of more than s5oO :
O0O "Most lucrative business thisr' ''00'
Other companies, nearly seventy in all. show
that in the aggregate they have paid to the
people of Maine nearly 100000 more than
they have received from them in prem;nnos
Truly, this is "paying" business, but narinr
dearly for the privilege of doing business in
Maine.
Now let me ask, is it not uneratefn, IN +ho
extreme to attempt to impose on these com.
pap1es such burdensome restrictions and tayea
as will prevent them from recovering. 80 far a
, may be possible, some part of their lost cant
tai, so lavshly poured out for the benefit of tha
suffering and unfortunate citizens of Portland
and other cities and towns in the State? And
here let it be remembered that these fore;on
companies paid into the pockets of the peoDle
of Portland for losses in the great 4th Of Jniv
fire in 1866 more than $3OO0OOO. while the
home or State companies tailed to pay less than
100000, or only per centage of their losses.
In this view of the case would here ennn;ra
in what condition would Portland, Aupnsta,
Bangor, Ellsworth Rockland, Eastport' Rel,
fast, and other cities have been in but for these
foreign insurance companies.
If the people and the members of the Ieois-
lature would but scrutinize this matter ..
they should, they would be disposed to driv vs
this very disinterested Commissioner from q N y
further service in their behalf for the decan.
ton which he is attempting to practical On
them under the guise of a special regard for
the public treasury, the public schools and the
dear people for whom he now processes fo he
special guardian, when the truth will show
that he is looking after the fruits of this. to he
tat cow" which he desires to milk. nrovidod
he can, by any means, engineer his pronosed
scheme through the Legislature. No one
apprehend, has any serious objection to the an.
pointment of a commissioner. But what Is
wanted is one who is fully competent for the
position, and not mere novice, who has neve,
had any experience in the business of ;nsnr.
ance until seated in this most important nosi
ton by favor of the Governor.
Neither is there any other design on the part
OF any one, put to protect the public from inn
position and fraud by bogus and unsound com
panles This we desire to do by every possible
safeguard; and with this in view, the under
I1etald have prepared with
has gone to the Legislature) providing mo-
only for the appointment of Commissioner
with such power as is deemed necessary anf
proper to protect and guard the people from
every attempt to defraud them, In any way
either Dy home or foreign insurance compa
MES OF any kind; and this we believe is ali tha,
is called for, at the present time, from any
quarter. Not petition has ever been pre-
sented to the Legislature for ann tax. anf
nobody believes such thing is expedient in
asmuch as Maine has little or no insuranc,
capital with which to supply the wants of tn,
business community in this particular.
If companies in other States are willing t,
furnish the capital for this business, why driv,
them out and thus prevent our people from
procuring their insurance ON the most favor
able terms and at the least possible expense,
Should the tax be laid, they will be compelled
| to pay it in increased rates, should these com
| panies continue in the State.
MT Paine may continue to scout the ides
that the large companies would withdraw, a.
too absurd to need REPUTATION; but probably he
IS not aware that several of the old and bes
| companies have for long time been seriousl,
contemplating taking themselves out of Maine
not only for the reason of their severe losses
but for the reason that every insurance com
| pauy in the country consider the laws O
| Maine touching this subject, and especially
that derislvely known as the "Fox law as thu
most "odous" Of any on the statute books o
| any State in the Union, inasmuch as thew ar,
like the 'handle Of jug, all on one side,' 81
that an insurance company does not stand :
| ghost OF chance of getting anything like jus
tee or equity in the courts of the State, anG
thus fraud upon them is encouraged.
Now as to Mr.. Paine's comments relative I,
the circumstances SO largely poured into tn,
Legislature from the people, who are know
to be Numerically opposed to this scheme,
have only to say that probably not ten per
sons in Portland or one hundred persons il
the State ever saw or heard of any circular t,
which he sneeringly refers, as got up to influ
ence the minds of the six hundred intelligen
business men of Portland, who of their owl
volition SO readily signed the remonstranc
from this city. .-
There is no need of referring to the subiec
of Lite companies in this already too length
communication, that subject having receives
full attention in your columns and from othe
hands; therefore omit saying anything at thi
| time in reference thereto UNDERwRITER.