The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-05-31
THE INSURANCE CONGRESS.
SIXTH DAYS PROCEEDINGS.
Important Reports on Assets, Fees, Taxation
Deposits and Uniform Blanks.
PROBABLE ADJOURNMENT UNTIL OCTOBER

PROBABLE ADJOURNMENT UNTIL OCTOBER.
The Congress OF Insurance Superiniendents and
Commissioners met yesterday IN room SO, Fifth
Avenue Hotel, President George W. Miller In the
chair There was informal discussion on gene
raj matters while waiting for quorum, but no con-
illusions were arrived at
Mr., /. BREEsE OF Wisconsin, from the Committee
on Taxation, Fees and Deposits. reported
That the matter of taxatton Ter matters con-
proey between he assrsn, s,a,es The re while We
tina, ssae wsu INC @
"a. Of one and cnehai per centpm gross premiums
State except the State in which organized in lieu
@ s ssP: for
@ pT G ss Ss1 IL M
any fraction thereof for oci. examination the actual
expenses incurred
Your committee deprecae the requirement OF deposits IN
States dong business therein companies
souS hs Or . Of
held in trust for the common protection and benefit OF all its
deposits whatever deemed necessary except the
mend that single deposit least ssOoOOo required
as s o all srs ~ IN Is. be held
The report received and ordered to be printed,
Mr.. Caldwell dissenting from the majority report.
The resolution to adjourn on Thursday until the
third Wednesday In October was called up and dis
cussed, many members being In favor OF such ad-
jourDment Mr.. Paine declared that discussion SO
far showed that the delegates are not agreed upon
some matters and 1t was very doubtful II one could
now agree on the points sought TO be harmonized.
For this reason ne would support an adjournment,
but wished that the reasons for the non-agreement
OF the Congress be put before the country in the
form OF a preamble and resolution. committee OF
three was appointed to draw up resolution on the
subject OF an extra session In october.
Mr.. SKEELs, from the Committee on Reciprocity
and Miscellaneous Business, presented report In
favor OF free trade In insurance consistent with the
interests OF the public. The report as follows:
The committee having in charge miscellaneous subjects not
been
Atom have been weighed With ss much dsibsIanon a. the
views and conclusions are submitted for the q
insurance legislation which is termed recip
rorn or reaaory had m origin r. the re- Of laws
s 10 y ss:
Of 6 for r. q Ne"
York in 1853 but was applicable only to fe Insurance.
n sas IS
@ Of % Of ~ s %s %
sarance companies reached $4,000 Other
ss ;.
a ssyeaa % ss
capital would b fa
must pao. or he old and experienced compa
mics woadoe compsled to retire within narrower limits
y e: su.
e0Sn:rs But he @ he
system soon began % its III effects. and We have
States California Wisconsin and oSio once con.snnsted
We prepared hold tina. States which have passed
1ns
mating in fsvo. Of home institution: and laying burden:
h.. BY, for his Ie...ory lsg.a.,On should have wit
more nvidous distinctions between domestic and other
For these reasons condemn re,aatory lssisla
ton but rather DO we the cause The
nevissS and
81 END Ss q
s1serns deposits and imposing severe sa1aon has been
me properly o. N. stat. b insss.:say
trade and win regulate such matter, beyond the
to as STATE Sy the S az nn son s
she which unerrinsly Regulates the
NY policy soas! not sak.assa y The :eG:sssisn
n s'' @
in ss vsy snS ns so
Sn at s .nS IN
tons we would uniform requirement BY :. The
The STATE wherein Is located he chief osc. Of the conn
made y
We would also recommend in behalf Of foreign corporation
OF and
s.n e .ss sGSay 's
capital and commerce Of every kind must suffer- as are
Rs
o. nch If n
Qurement be made and similar one applicable to do
AN publications made. the convenience Of the public
By no means deprecis,e the proud position 'u ss
ssnsd p % capital Ends, the
sugsrysGD defective 2: Is n 3, some gsca..: . COMES
res. Britain to-day taking herself copyns
FROM e. % fact wSs no
Guua eoncss.i0ns eliminate some Of ne ineon.
legislation, securing uniformity statements that
u ss &c The o
BILE and fraudulent, corporations sprgng into existence
The asssnsass present. spec.
an been 70 he
legislative powers Of the States and without examples
opinion Of your committee secondary in Importance only to
Of our paGn: fs Wise
+. Of evssy ss' ns n.
Say than =. S.nIn, ssD. q
- estimated 70 greatly exceed the aggregate exPsndares
The banking interest Of the country has within few
been and however great may have been the
tsin rights Of the States In the which led to
he formation of the giant system, hesitates to
knowledge the oonvenee accruins from uniform valua
ton attached TO a Treasury note. So may 1t be
when system OF insurance laws In the several
States sseimaed, and practicable to do
u New New Uss sa
N its production, TO It's and TO
The pubic OF security and uniform value not less than
borne on the face OF Treasury note Anticipating there
system q Tsciprocai Inter Legislation your conn.,
snee would member Of the Convention
return 10 his constituency n In will and resoute in deerm
patton advocate the nearest possible approach to free
rade IN Insurance consistent supervision
which shall guarantee entire safety to the public
a.. q. l.. SkEELS, Chairman.