New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-22
SIXTH NATIONAL INSURANCE CONVENTION

SIXTH NATIONAL INSURANCE CONNENl1)N.
ADDRESS OF PRESIDENT CHAPMAN-EFFoRrs To-
WARD HARMONY OF ACTION AND TOWARD
WEDDING OUT FRAUDULENT COMPANIES RECON-
MENDED-ArPoINTMENr or COMMITTEES.
The sessions of the sixth National Insurance
Convention OF the United states were begun on Monday
III Underwriters Hall, at No. 1856 Broadway. Orlow W.
Chapman Of NowYoIk presided and made the following
suggestions with others, to the Convention
II is very desirable that unite upon general nsur
law which viii at once harmonic alirrehco ana
Whatever this Convention can DO III the inter
est Of harmony uniformly ana IeeipTovi'S .nonS anu
between the various state Insurance Gep ihrhts' e.
sisten with safety should he done lnce THIS wac me
germnal idea rom which sprlng this organizations IL
has already done much in this direction II can 90 much
more. .,-,
borne IN mind that the one ultimate good we are ali
reaching cut after is security for policy holders As
were. between thousand million OF dollars on ne one
hand and half many seattted risks on the other be
tween aggregate capital which IL power and segregated
eT ~ the insured Everything else must Weld TO
tnat which viii give to them safety. Just 80 far as we
can 20 the path OF uniformity and reciprocity without
periing safety should but not one step urther
". should so FAR possible take such action VIII pre-
vent the creation and existence III orr several STATES OF
fraudulent compans5 No h hI se nov yo yep r
that IN multiplicity OF hs duties he may NOT he able
fegsiature may hamper his action by laws but
il he honest active ingenious and persistent
stat"s. and 10 overthrow The fraudulent his
While then, this Convention IL recommending such
action Will induce harmony, uniformity, ana reel
procy should not forget to adopt such measures as
will tend 10 the wedding out Of fraudulent companies To
the encouraging and uphodng OF me Young ana si,.
companies FAR rs II can be done consistent WIN saety
10 the insured and TO the strengthening OF all honest
companies.
The deliberations OF the Convention were resumed
Yesterday with Superintendent Chapman in the chair
He announced the appointment OF the following com
mittces: On Blanks Tor Annual observation-disclosures Row,
Rhodes Nye Pillsbury and Welsh Assets and Invest
ments-Mcssrs Nye Rhodes, Welsh, Finch, and Howell
on Rate of Mortality Rate OF Interest and Reinsurance
Labilty-Messrs Smith, Pllsbury, Forster, Finch and
Howell
Commissioner Rhodes said that there several gen.
enen present representing insurance interests IN the
Dominion of Canada, and motion the privilege OF the
floor was extended them during the present session OF
the Convention. The following Committees also
appointed On Legislation - Messrs. Smith, Row,
Rhodes. Nye and Finch; Oh Miscellaneous Ques-
tons-hlessrs Rhodes, Smith, Howell, Row. and Forster
Commissioner Smith, of Kentucky, made partial
port from the Committee Legislation, which dealt with
the definitions OF companies, agents and commissions.
with the duties commissioner and disqualiacations
The report reconmitted to the Committee Commits
soner Row offered the following resolution which
finally laid on the table:
Resoircd OF this Convention That the
sent practice OF life and fire Insurance companies III
oaung money the stock OF other lie ana fire nslr
companies as COLLATERAL 10 efoutOus anu sHOulu NC
abandoned.
The various committees directed TO meet in the
afternoon at the Fifth Hotel and the Convention
then adjourned until This morning. After the sub-com
mittees had opportunity To arrange the details
the work Ia be done, longer sessions VIII be held The
grets the interests involved great affecting the
entire country.