Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1875-02-19
PUBLIC LEDGER.
0Hlcss No. Is Madison Street.
LARGRsT OITY OIROULATI0l
THE CITY.
M L. M II HIS
Friday Evening. Feb. 10, 1875.
THE INSURANCE INTEREST.
Memphis COmpanies RemOnstrattnP
AgalnAt the Rond DepOaIl Ril :.

Memphis Companies RemOnstrattnR
Against the Bond Deposit Bill. >.
The following memorial has been laid
before the General Assembly:
Your memorialists, representing insur.
ance companies incorporated BY the
State Of Tennessee, would most respect.
fully, but earnestly, demonstrate against
the passage Of House bill No, 81, emit.
tied an AN act to require insurance
companies to deposit bonds with the
Comptroller of State and against the
passage of any and all other bills con-
tanning provisions of q kindred charac.
ter.
We do not believe that the public in
terests require the passage of any such
act, while it is uhdeniably true that its
passage would work irremediable dam
age to the interests OF insurance compa-
MES chartered by this State and doing
business in other States.
The supervision and control over in.
surance companies exercised in accord.
ance with the provisions of existing
laws, by the Commissioner of Insurance,
including the right of ascertaining the
correctness Of ample annual reports
made by the companies to the depart
ment, oy a personal and thorough exam
ination Of their assets and liabilities by
the Commissioner, or his deputy, renders
any such deposit entirely useless.
In addition to this, the existence in
many States OF what are known as retail.
atory laws, will, if this measure becomes
a law, make it necessary for u own
companies to deposit a like amount in
such other States, or cease to do bust
ness therein.
Several Of the companies represented
by your memorialists have extended their
business into many Of the other States
of the Union, the result of which has
been the introduction of large sums of
money into this State, but if this bill is
allowed to become a law, they will be
compelled TO close their agencies in such
States and con6ne their business to this
State alone, to the manifest injury of the
public interest.
W. W. BERRY, President,
WIN. A. WEBB, Secretary,
Equitable Fire ms. Co., Nashville.
W. CHIDsEY, President,
Widow and Orphan Fund Life ms. Co.,
Nashville.
I. A. NELSON, President,
Ben MAY, Secretary,
Southern Life Insurance Co., Memphis.
{. M. APPERsoN, President,
HENRY j. LYNN, Secretary,
Memphis City Fire and General ms. Co.
j. ". JEFFERSON, President,
G. W. l.. Crook, Secretary,
Washington F. and M. Ius. Co., Memphis.
W. B. GREENLAw, President,
j. A. SIMMONS, Secretary,
Peoples Insurance Co., Memphis.
7. B. DILLARD, President,
II. GRogADER, Secretary,
Mississippi Valley Ins. Co., Memphis.
d. T. PORTER, President,
D. h. TOWNSEND, Vice Pres't,
WIN. GOODMAN, Secretary,
j.. G. LoNsDALE, Jr., As'tSec'y,
Planters Insurance Co., Memphis.
THos II. ALLEN, President,
4. r. CLARKE, Secretary,
Phoenix Insurance Co., Memphis.
THos. H. ALLIES, President,
Life Association of America.
II. l.. MEAoHAM, President,
A, N. Mckay, Vice Pres't,
VIM. GAY, Secretary,
Merchants Insurance Co., Memphis.
WV, RUFFIy, Secretary,
Lie Underwater Association Of Mem
pssis.
W. d. MoRcAN, Acting Pres't,
JNo. r. PEAR0Y. Asst Sec'y,
Nashville Life Insurance Co.