, 1877-08-15
LICENSING INSURANCE.alEN,

As an abstruct principle It would seem To he
no more thun right that IN Insurnncc-brokcy,
who receives benefits from tho ctty a,ltI pu In
cotne frDtn tits business, should be taxct for
those benefits and OIL that inrohlc by being
compelled to pay liccnsc, as his business
brotl,cr the insurancc.agcnt, or tho company lie
represents, which arc In the cyc Of the law ouo
and tic same. Il compelled to lo. And III
practice It has becn founI wise to nIace re-
stslctions on this rlass. Many Of then, uro re-
sp0nslblc, honorable buslncss men, but too
many are OF tho kind best described ns t,nv-
Ing their offices In their hats and their
dcposfts at tho friendly pawnbrokcr's. This
latter division of the craft is generally lrrc-
sponsiblc, living on tho outskirts Ut tho busI.
ncss, placing risks, forcing unwilling con,,ns.
slolls from agents, and, ~ us not inrcuuently
IT, mS sa,s wis5a M 5e.ns ms. sn aeIp
tlsctf own pockets. In cusc 0f loss, an Ins,Ir-
ance company simply scnudia,cs tho brokcr,
deniss 1 cyrr ~, ha.'ng .erelvcd any premium, ani
It reards a. really ito ngent, " t,laku good tic
ioss Tho only wonder Is tl4t thirugo las been 70
late In placing any restrictions OIL thIs r1ass. In
t!its at!e has heeh behna most of sho prominent
cities in thu country, whtci, compel them TO
have licenses. titus tendtr,E to cut down thcIr
numbers attl weed t.!t nearly all hut tho rc-
spectacle portion. ,rhr Council passed an orui-
ange ,m 'aht ,foe foeday m.t, WIT" %tt to effect
cense fec of 800 per annul, Tor tho privilege Of
doing brokerage business. 1t need l,ar.lIy lu
sald that tho ordinance Is received with fayor by
tho respectable lncn In the business, agents and
brokers alike, the general Idea being that It il
step III The direction Of
| CLEANING our THE lRREsross!uLH "cuRs.
sT0Nan CLASS.
A reporter epcnt an hour yesterday morning
In ta,kng with several insurance men on th}s
! subject. Atnong them was Mr.. j. II, Sfot,re,
Of Moore Il james. who was tilspoAcd to think
that thu prospect Of 4 revocation Ut a lr,ker's
to 4 company, would deter him froin such Il
| course. Moreover, only the better c!ass cnuli
would have to drop out. Tho public hsul hect,
Ilu cIs.s, sna II va: btgh tine esesss t" retorn
| tho eril. Mr.. >toorc referred especially to Tho
casc Vi certain laSAlle street brokers who cut-
lcctcl iliousaMls Of dt'llars from their patrons,
and never turned the monry over 10 tl'e r"n.-
pantes III which they pretended to Insure them.
Thr companies sent notires to the patrons tllat
| ths tl!a Lad failed to pay the premiums, und
that the Insured would have to fo,t their l0sscs
sano thing. The new law eo.'ll not hut meet
with gnynr fruln tho better cls,s Of brokers, aud
from thr publlc generally.
M5. !. critcLcl Thought tho ordInanco 4
good thing, as 1t provided for y tlass ot persona
who did business a1,tt paid nu taxcs while they
received tho benefits for which others were COM
PEELED to pay. thought tho ordinance would
4Afc teAuGncf ~ FGalueo TUE nutancf VI tua9
loose, irresponsible class.
Mr.. 8. Al. Moore would have liked it better II
the liecn.e isc ha4 been made $ato tu sl.lNo III
steud Of $l0o. hauy of The ''eurb-stot,c" nrt-
Isis would raiso the sl00 and piy tt,clr trade Us
usual. while fee uf S5tW ur ii ,0U0 would i1ccxs
out vi but ths better glass Of brokers.
Mr, u. y. West. VI MrColnick Bros. d Find
iay, was pleased With tho new Iuw, although, tho
iast thut broker xas compelled to paw q
license would perhaps giyo hin. legal exist
cpce. and he would perhaps cease to ha scgur.i-
ID ~ the agent Of tho irsulcl, SIN, should
th!s question ever b. rased in the COURTS lho
ssa xGald s BE- detstrasA By Question Of act
Mr. dcurge G. Clarke said the new law was a
step tn tic right direction, but was inclined to
slI,nk the ftc was not n.als high enough.
ar Lyon, u pueat l& LYON, took . neutral
ton. and while on general principles II looked
fair enough that bsokcE sb1uil be taxed aa
well as eou,pany OF "a agent, sslll tiIs license
harl-woralug brokers whose buHkucks really did