The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-05-30
TIE INSURANCE CONGRESS.
FIFTH DAYS PROCEEDINGS.
The Foreign Companies Requests Disagreement
on Assets and .Investmsnts-Mr William
B. Barnes Before the Congress-
Actuarios' Arguments

B. Barnes Before the Congress-
Aotuarios' Arguments
Tho Insurance Convention again assembled at tho
ONCE OF the Fire Underwriters, Nos. 1850 and 16S
Broadway, yesterday. President Miller In the chair.
WHAT THE FOREIGN COMPANIES WANT.
Z. W. CRowELL, or the Imperial or London, ap-
peared, and addressed the Convention In the inter.
ests OF the foreign companies.
MT. ). p. BLAaDEs, or the North British and Mer-
camille Insurance Company, read the following
report:-
10 Hon. GEORGE W. MILLER. rresidcn. Insurance Con.
81 V.sgq have tho
able report OF the Committee OF the New York Board OF Fs
It is the desire o. companies furnish full salts
s @ s e f %
mea. Of the business IN hs country Of course es made
deay necessary IN order 70 hsar from the various les in
@ s ae 81 ha 80 s os
the year until about the LIST OF July succeeding and would
fiiss ss
saa a I eds 70 Is o. tine
haks Tor The ieraon shown BY the several ocia
I5e only points which would especially auds
pl considered in the report Of tho committee referred
force against the separation OF the Of foreign compa
vii 5s the go nss and woa
mcnt q the STATE which The nepal ONCE IN This country
inc nay O tho
TN ss IN XII. sSa
Try In return for , AZ ss, can be expected aad az tina.
same laws entitled e The same privileges as the COM
are po spss
fully protest against discriminating taxes and laws to hsr
They claim this position with the because
dons in that doanry Where
ss 9 snd ess with the home
Asking your Kind consde Of these points and Your
IL 5 ,s sa %
ys aoe.
ema q a. And asD's' syf a
Fire INSURANCE Germany Lyergool and London Samuel
E Fss HHasa 81 es'sas ss Ss
Aes
Lon ION. !.
The communication was referred to the Commit
tee on Deposits.
Mr.. WILLIAM BARNES, superintendent OF Insur
ance OF New York. addressed the convention by in
vitation ana gave very Interesting history Of the
early examinations OF New York companies which
showed in some Instances that companies with
5000 had only from 5000 10 $4,000 assets AZ
present, lie declared no country IN the world had
soundness and Their fahfuness In making their re-
ports as the United States. He advocated the crea-
llnu Oh an TeScTVc iuuu w uctt SUI.
den CONTINGENCIES y epidemic OF connagralon.
MIR. SAEALgs, OF California, also gave some remi-
niscences OF fhe early insurance companies 0. the
CITY aid the organization Of the Insurance Depart
ment or the State.
Mr.. ROW, or Michigan, moved st'a
Resolved That the committees to whom s,bects
have been referred 70 requested to The same to tho
New % ' on hs @ On
October 10 complete the WORK for which has assembled
MIR. PAINE, OF Maine, moved
Resolved. the of OF
liabilities income and expenditures under designations
naars IS an evasion that the csndence
company to suspicion.
Referred to the Committee on Blanks
Mr. PAINE also offered the followlng:-
Resolved, That reciprocal retaliatory sinful
IN Their INCEPTION n their operation and IN thes
county and in the opinion of TINS Convention should cease
Referred to Committee on Miscellaneous Business
MIR. M. ID. MORGAN, OF the North American ad-
dressed the Convention upon the subject Of assets
and the preparation OF blanks, but also touched
upon the general manner Of Keeping Insurance ac-
counts.
Ihe convention took recess, to meet at the Fifth
Avenue Hotel at three O'Clock p. M.
The Convention was called to order at the Fifth
OF the report OF Mr. Paine, chairman OF Assets aud
Investments. During the absence OF President
Besse Wisconsin, The delegates took M the
! report, which appeared III full III yesterdays
| HERALD, and discussion at once arose upon the
first paragraph, which defines the KIND OF securities
In which companies shall Invest Mr. Paine strongly
advocated the adoption OF the clause, which
was opposed by Gencra Smith, OF Kentu ky,
VINO desired that the laws or all the States bearing
on the subject be examined ana he read the laws Vi
Kentucky. lie advocated careful examination Of
the character OF the securities deposited II the
! surancc departments by tho companies who might
buy up bank stock and RON the banks DR.. Atkin-
son, OF Kansas, believed 1t nnwse to limit the
panes TO the nature OF the securities they should
they could get The highest interest and give the
greatest security. Mr. BrinkerhoG,. OF llll-
| nos, thought all companies should he
| prevented from investing In insurance
Stocks lest in case OF calamity all would be dropped
| down together. There should be limit 10 the
Oi Michigan also opposed Investments IN Insurance.
stocaS Colonel Coldwc, OF Indiana, moved to lay
the report upon the table. THIS called out an AMI
mated discussion In which Mr.. PANE declared tias
1t was too much for the Convention TO dictate TO $50
Or 200 companies what securities they must invest
In but they should bo compelled 10 deal In respon-
STOLE securities Other gentlemen spoke Tor and
against tho adoption OF the first para
graph after Mr. Coldwell had withdrawn
his .oulon to table, but after two hours spent III
ment as when they commenced. and all burned
uutil to-day. Ia the evening the committee on Val.
nations, &c. mot at Tue IiIth Avenue Hotel To hear
rgumcnt RON aciuaries as to Inc best means Of
airiyIIg at basis Tor policy valuations In winding
up the alar5 OF COMPANIES. Addresses were made
by McssIs. sheppard Romans, Consulting Actuary;
ID. T.. facElsr Consulting Actuary; r. s. Lincoln.
Actuary; A. +. Harvey, ActuarY Of Missouri; W. Il.
Harvey, Actuary OF the Illinois Department, and Il.
w. Bryant, New York state Actuary.
GERMAN tJAE wAGSLEas.
The twelfth biennial singing festival OF the North.
ooetorn Siprarai Union which ipcuaaa tho (,arm0u