The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-01-14
THE REASONS WHY.
The Governors Veto on the Board Of Un-
.derwriters' Bill aud Other Bills.
The veto of the G. Governor on the Board Of
Underwriters bill. passed by the Legislature,
Is 50 full Of points that II Ia given In full:

The veto of the Governor on the Board Of
Underwriters bill, passed by the Legislature,
Is 50 full Of points that II is given In full:
Ceatlenen-I have examined with attention
bill entitled An act to ineorporate the New Or,
leans Board OF Underwriters, which originated
IN your honorable body during the last sessio
Of the General Assembly. and feel compelled
TO return the same to your honorable body with
the following ohIecttOna:
The object OF this bill Is to create q private
CORPORATION, made up Of the presidents and
agents Of u number Of insurance companies,
specifically named therein, and Of such others
admission. under by laws which tho corpora
ton Ia au, horned to enact. | opnfiue myself In
this message to those PORTIONS OF the bill upon
which my objections are. ,founded,, and eatl
therefore special attention to tho SIXTH
seventh, eighth and ninth sections OF the bill
and It's title,
con paues and agents If insurance companies
dol, business in this city, not satisfied that
their risks were covered to the extent they
deemed sufficient by the instrumentalities fur
nished by the public authorities for protection
agatnst FIRE. organized some years since what
IL known ~ IAN underwater salvage corps and
fire extiuguisher department. the obi Act Of
which was TO bring M the standard OF protec-
ton to the point they deemed sufficient
The outlay pce,sary Tor thia purpose nus
been large. and has. up to this time. heen
met by voluntary subscriptions from the COM
panies and agencies which took this view OF
their interest "A certain number Of agencies.
mostly / nm told, If not fnreikn. have con
stantly refused TO JOIN this voluntary assoola-
ton or TO contribute to II, and will con
tinue to refuse unesa made TO do 80 by
law. whether this refusal has been the
result Of u different opinion Hs TO the
ment. or whether II be that holding the same
opinion as the others on thar subject they have
thought proper, TO BECOME the Insurers OF their
own risks for the differences between full and
partial protection, Certain II Is that they had
perfect freedom of thought decision and action
III respect to this matter. which was essentially
interests AMI private business. There ~
no law to force man to guard his own
private interest otherwise than according to hts
own wish and Judgment. and there Is no law
making 1t the duty q insurance, companies TO
guard the interest of the general public or the
risks OF other companies. These companies
are private corporations. organized for private
gain. and though useful q d beneficial tn the
community, the good which they accomplish is
understand that the companies which have
heretofore carried On tho salvage corps COM
plain bitterly OF the course adopted by inc non
contributing companies ar Erncies Ihey as
sert that the salvage corps lures TO the beneh
Of these very companirs-that TINT CORPS attend
all fires and ave all property without steppit Z
TO inquire whether Ii he insured NJ all. or II In
sured, o inquire by what com panies II Ia so,
| They claim that not only 10 the non -eontribu-
| tttg companies thus gain the benefit OF the
4 labor anu money OF others without bearing any
| burdens. but that the very fact OF n-contrib
utiuE. by lessentnE the running expenses Of
those institutions. gives an advantage 70 them
/ over the home ompanies. which should not be
| permitted They are OF opinion that all COM
4 panies other than those of the States should be
| made, by law. to contribute to the salvage AID
extinguiShing corns. on the ground that the State
/ has the undoubted right to say UPON what terms
and conditions such CORPORATIONS should dc
business Ia Louisiana, and they claim that the
present proposed act Is merely the proper ex-
ercise of such righr.
The home com panies tor rather those com
panies who have united in the organic .tion Ui
| ths salvage corpsl have urged their view OF the
situation with force sufficient to cause the Gen
| eral Assembly to adnot 1t. It has therefore
| passed the bill which am now discussing and
| which grants them all that they ask. private
| corporation called The New Orleans Boar o.
| Underwriters il created. This CORPORATION Il
| authorized TO call al annual meeting In Janu
ary of each year. at which not only the mem
beers Of the CORPORATION can participate and vote
but also all other com panies and agencies doinG
| bu ,iness In New Orleans who thtak proper K
do so. This meeting determines. By majority
vote of the companies AID agencies present
whether tine salvage and the extinguishine
corps shall be maintained for the currcn
year, aud II maintained. determines tht
| amount of the expenses for carrying on tue
same, not 10 exceed a certain percentage Of the
nat premiums received, aud makes an assess
ment as understand. not only upon the com
. 4nies consuming to this arrangement. bu
upon all companies and agencies doing bust
ness in New Orleans, whether parties to II OF
not, and this assessment Q IN be collected ny the
corporation through the courts OF law. With
view or ascertain ng the basis apon which thtt
assessment Is to be made, the corporation /;