New-York tribune., 1871-05-30
THE NATIONAL INSURANCE CONTENTION

FIFTH DAY-ADDREss FROM FOREIGN INSURANCE
CoMPANIEs-INsURANCE SUPERVISION.
The rooms of the Fire Underwriters we're
well filed again yesterday by the delegates OF the Ma
tional Insurance Convention superintendent Miller
presided The resident manager OF the Imperial ihSur
ance Company Of London l.. H. Crowel, addressed the
Convention, in maintenance OF the views already pre-
sented by the Fire Underwriters and the Chamber OF
Commerce He dwet particularly on the fact that the
six foreign companies doing business here arc all repre-
sented by American citizens as agents lie sald tha1
these companies have always endeayored to give COM
reto statements to the as sof s Of the
business OF this country can be made az the tine NJ
pointed for American companies ihe IOItSh lon nor
done in any given period Is necessarily reCeiEcu ,
that of the American busnes OF the same tne te
question of dep9?s very tne on I'll The s subject
apply equal force against the separation OF te asoo
OF foreign companies These companies WISH 10 nave
such funds deposited as Will best secure lne PV@i,oy @
holders, and think that this can be done Ry pachS tnen
I'm the hands OF American trustees, who shal nc APP
proved BY the head OF the Insurance Department OF te
State in which the principal office In TINS country may
ss @ 600 in the United States in connection with their
business and all they ask in return Ia mat they may
American companies. They consider that they have
right to claim this, because American companies are
gland The address signed by Alfred PelI A. b. Nc
Donald VIM H. Ross Samuel r. Bagde E " Nth 1ToRT ,Tit
ish and Mercantile Insurance Coz London had III
support of the address, It was referred " the oooo
York state spoke concerning fraudulent insurance com
panies especially OF the great number OF sucn COM
panes discovered by him In 1855, when ne began us
official work wished to the office OF insurance
superintendent recognized constitutional in each
State the Union. Ii would be sufficient reward Ior
the abors OF the Convention they could agree upon
single point which would he accepted by all the states
Mr. Barnes dwet at considerable length upon the hecga
sity OF a solid fund for each company lie
instanced many OF companies that had done 9oOd
business for but were no better on tnan "ieh
they began because they had divided all the profits
Mr. Skeels OF California, after euogllng Mr Barnes
claimed for himself the Orgnation OF the Insurance De
partment in this State. ,-,- -,,., -.
Mr. Paine OF Maine offered the following, which was
referred to the Committee on Blanks: , ,.,..
items O assets
designations
manner not evasion that tends 70
In the correctness aud integrity
OF whole report neaous justly the Com
pany to snspicon . . -, - 49,, ,.... 4 .,
Mr Paine offered the following, which was referred TO
the Miscellaneous Committee: ...,..
Rssolred reciprocal ato laws simple IN tlef lhctP
ton their operation and IN their nature yost'e tue
est principles comfy and the opinion 'hs Convention
exist. -
n d. Morgan OF the North American Insurance COM
pany spoke for half an hour on "commuted e0minls
sions aud in opposition to met valuations Adjourned