, 1877-09-21
INSURANCE,
Convention Of State Insurance Offtcia1s
at St. Paul-.-Resolutions
Passed.,
Tho Unvarnlshed Opinion OF Men Who
Know What They AFRO Talk.
Ing About.

sntetai NsodscA 10 7as Gateaao TrfsnaA
BT. PAUL. Mimi, Sept. 20.-Thc National
Convention Of State insuranco officials as.cn.
b!el here to-day. Ths following important
resolutions we're passed.
wnEnEAs, + appsars essential that The Ss.Ioaa,
ecutsan Of insurnnce laws IN their respective
seatca, now assembled IN st I'aa!. Minn., Tor m
exchange Of !icwa shonld give some pnbitc
Rtsoirta, THAT. while our confidence In The b,n..
efficiently managed /. in no way atatcd BY lie ~.
auIts Of our examinations, We deem ii lncumh.e,
upoa m to aenuancc a. radically wrong, hnd with
attaching H. lie busfncrH. mofn partIeniafiy H.
enormous sal1EiEs torueca, and percentages ;efsI
70 themselves by the ocsrs Of nn,nfer Of Hls iifs
tn1rtunce cun1lanies. far exceeding ttlr tnnnsw
value at human skill and effort; that it ts out Gui,
to cea.nre sush practices, and IN our ,n.crcoarss
nn, iG Ses nfc 20 u.ng 'nsm ta e corpora
insured In thts teprchensbte manner, @'
~ Essosstd. Tlat every etiost 70 project policy.
preservation Ut l1er rights Ii our paramount Intxs
tha In v'er Of the cxsssoF!aary eHren'ss growing
al.tent with eatety that will avoid tGe disspsI1@n i'm
Of trust funds By auc exorblaant fees and charge.
that tho n'ers,ti Of
management, and, II necessary, a pro rata dimIno
tlon uf the 1muunt nsdrett. '11
1FSUetEtts Hhk VIZ l1u1S6G tu0 law nHNtGh bx
tho last Legislature Of New York to prevent in,nt
ance companies from Advortrlng "a at+st,
amounts that arc not araIlablc Tor tue a.. pay.
acted h1 the last !celalatnEu, Of Michigan.
giving 10 the. tnsnrcd equal rLghts with ihs
companies In tho cancellation Of nre.tnsatantes
policies; that We advice lhe Legislatures OF onr ,s
tpectve States to pass similar laws where the sans
| arc not in fosce.
R<1ofred, That tho enactment Of law BY INV
Stats requiring in.nrnncc companies to rake a.! ~,
posts for tho special protection OF po1cy -bode1s
Of ruch State, thus creating prefcrrei cycdttors il
pernicioIs in lts results, md that sucb dcpp.jts
should be allowed Assets on1y to the extent nj
| the liabilities In that state,
Resoirsa hat The tlMG has arrived when tQsur.
arce companica should ecunomiza IL tarlr er.
pcnac*, which, 1t Ia apparent, urc Ia many eatts
out Of proportion A. compare will, those Of oIbsr
branches of business; that tho tnauring puhlic Az
compelled to bcar this burden without 6ayIng anT
| chnttol over tho same, and, whslu tho e1pculI.
| turca In alt other classes Of busIncss an
reduced in accordance with tho necessities of ths
| timer. tho rntL0 Of expense caused by EXCESSIVE
| salaries and commissions aud the demands III
worthless iRaurAncc Journals, make Insurance
conpanIcs the exception to the general rule,
] Httoirtd That In all life. insurance compantes
| partly stock and partly mutual, rolicy.itojIen
slI0ua have voice in Tho election Of officers and
| management Ut affairs.
Rtxotr:d. That, In our Judgment. from "a
prnsnectlyc rate Of interest na Indicated by tho
succcssfut efforts OF the Government IN placing tbe
| per cent loan. life .lanrancc companies rlnuId
NOT he permitted TO declare dividends except from
| surplus In c1ccsa OF n / per cent rcgcrve.