The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-02-19

ITO afford the fullest projection possible the great in
WIN s
% the
OF conducting the affairs of the numerous companies
look for ths a h hsafsy
S Of the e w the 70 hs
RICHNESS and value OF the formal statements annually made"
s Ss Sn up mot say
The and almost sae bs
general well the insurance the whole country
cpay made IN the New YORK Re 0na'HeS pr'
To charge number One-cOrrupt legislation and
the foreign companies She says
equa with the companle. OF our own State had
the foreign companies enjoyed privileges and
in after tns 81
as & SS own &c
bal inaccuracies which the foreign companies claimed would
Sat
@ In @ BY the liable and
prepared brief Seeing evident necessity Of
% Foreign Gas and ho% n
e.
snd .aslacory to ~ Interested TN. ana the
.sresd upon By ne A%ercan each every
tee OF the New York Board OF Underwriters.
The proofs OF the correctness Of the above state
ment are found In the following letters:-
New YORK, Feb. 4, 1871
DEAR Strive, the UNDERLINED, committee appointed
ssv.s # the foreign Are Insurance. bu.
sCmpsns: The ioo!inE happy
close herewith We submit proposed to YOU and hope
o we & Or ha 1S And
sensd 70 the Legislature and give your and sup
very yEs,psSsf s% your NJ. Geedien. servants,
A. B. MCDONALD for Royal ms Co a"0 '00' ms TO-
SAMUEL p BLACK, FOR forth the North British.
ALEaE shos tss sss Hsen: for tn.
oE Assyranc g cS O. ag. Of Lon-on.
S SiSaxSD T. s SSssAzDiso.
Committee OF the New York Board of Underwriters
NKw YORK, April 81, 1871.
fhe officers OF the foreign insurance committee have e1.
amned the OH now 5eore YOU on the subject OF such com
among them and the local comp the approval
They viii therefore be grained with your ap-
ny in s'
gone to Europe With his family upon the strength OF this
MES The state pay s4pen:s: si sum
ps mes " Ii.
ves Of the foreign and home companies just leaving
Calsa c.p.sy xthoush srdnsy urged By sever. comps
asked for or from any Whatever nor has
the State had to pay the The making these
en- That proof ha. not been produced before u:
Ss and
Insurance Convention. he says:The warning 70 the va
chuset superintendent and stay away howeves
avail As a the wonderful exposure
blackmaina Of the in May instead Of esnteen
bic superintendent from MASSACHUSETTS,
her, This same paper during the sessions OF the Convention
having been called, Of It's Importance and probable
fu results This report however, VIII not be extended BY
making quotations"
These he embodies In the testimonial made to him
by III officers or insurance companies, endorsing
MS action In calling the Convention. He then re-
spends to charge Qllegal retention Of fees:-
Ihas been charged that the has collected
been paid the State treasury particularly the Of
one per cent on the transfer Of sscae. eeeced n, andr
semOy duty examined this subject The testimony Of
ersoS bcoxEeepsr Of department That all Of
s Of Ss s Sa ss
per cent has been paid over to the Superintendent
fee his and that al other fees Of every description
had @ nS %s @ the
law and besides being entirely admitted
5 the s % hs S Ss1 rs
regularly Eep. under tho Instructions OF the SUPPLEMENTARY
cay established the received win readily be paid
law the Superintendent proposes amount re-.
STATE 'As .pes
not mace cy nre insurance companies OF this or
made exclusively by lie companies and com.
panies Of foreign countries few life companies make
nearly all the transfers, but just that this
special and responsible should paid by hose
companies Tor whose sole accommodation Is done
proportion 70 the amount of such service performed. II
charged Tor simply making deposit withdrawal 10
only where one security Withdrawn and another subst-
fees deparmen their into the sressuy
~ sAs
that the securities deposit $4,000 OO
have been safely kept and the books
been correct and the fees paid into the treasury
Tne report proceeds give resume OF the laws for e.
amnaons and appears that Miller has examined seventy
teen OF which life companies latter two were
found not In condition to continue business, and were
view Of the condition discosea by the er
animation, paid additional capital
more perfect protection OF policy holders Two Others have
least three others are negotiating with view selling
and winding up Five others were examined at the
ips well 81 as .So and s because smsons
superintendent deemed that public and hrs duty
a. an officer demanded The total number Of nre nsur
the two years 1870 and 1871 was sixty.
or these six examinations made upon the application
under section TO- aepers Fire ss, OF I'VE Of which
made by the Superintendent In and he received from
each 800 the expenses Of such examination, wnca
the generally paid to commissioners FOR similar
under the preceding administration, ana
certainly more than proper sum 10 cover ne
merely Of such examinations -,..,,.. a. h. |
Thirteen upon their own application 70 no
admitted 70 do business IN ms STATE IN eli cases eSces he
thirteen named upon statements and proofs wncn we're
satisfactory To- the wsou b 40 smeunt pad
FOR been reported or REQUIRED