Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1880-03-18
DAILY REC0RD.UNI0N sFRIEs.
VOLUME II-NUMBER 22.

Mr.. BRAuSHART said the bill proposed to have a
system of competition in the insurance business,
and open the doors for other companies TO come in
Mr.. CoRc0RAE favored the bill. 1t would enable
farmers 10 organize mutual mpanies and have
safe means OF insurance. 1t was, be thought, q
good measure.
Mr.. SIMON could no objection to the bill It
was good thing il four with house apiece
Should agree to pay so much to any one If his house
is burned down. II was better than the present
plan.
Mr. YouNs favored the bill. There is he said
large class of people who interested. The nsur-
ance business is of gigantic Importance, and of
course legislation will meet with much opposition
when it is proposed to extend the privileges
hr, MAY said II was to subvert the new Constitu-
ton ard hide money from the Assessor.
llr MAYBELL said it was fight between the big
and little fishes. The big fsh trying to gobble
up the little fish.
Mr. FISLAYseN said part Of the bill was very good,
but the mcst OF it was very bad. The bill was
fraud and a humbug, and panderng to the public to
get their money for no consideration He said it
was contrary to all principles Of insurance. The
bill allows this mutual admiration society to go
about and take insurance, and when the property is
all burned UP, who viii pay the loss. But the slo-
gan Of "eOrpoF ations" has been sounded and the
demagogy Of the "poor people" Is rampant, and
reason Will avail nothing.
iir. LANE said there was just much capital
mere as there is in most Of the biz companies. IL
every man was his own insurer there wouldn't be SO
many large fires
Dir. BESSgTT said this was a wrong principle. Its
foundation is sand. There 10 nothing 10 back it, 1t
sends out agents all the State 10 rope people,
The whole thing is based upon a system OF credits
which will not hold water. The State cannot open
the door for such rascaly proceedings.
Mr. BRUNER was in favor of the principle under
lying the BILL though he was not necessarily in favor
OF this bill as II stands. He believed there should
be more insurance.
Mr.. MERRY said the law was ne new thing. The
States of New York and Pennsylvania are full Of
them.
Hr Fox said there was only one of these COM
panies in the state Of Pennsylvania that is solvent.
Mr. MERRY said the law vas over hundred years
old. 1t has been tried before
Mr. Fox denounced it a violation OF every
principle upon which corporations are founded.
Here is company without one cent Of capital as q
guarantee to the men who deal with il. 1t was, he
said, most outrageous proposition, He did not
propose to ndorse any such idea, and then set it
up above the laws governing other corporations.
1t is another of those things which it is gin to
worship for there is nothing ike il in the universe.
blr. M4YBELL replied. He said the capital was the
property of the eorporatoTs, which is better than
the empty safes OF the giltedged companies that
now have the monopoly OF the insurance business.
The bill proposes to keep the money at home which
goes out to European companies every year.
Mr. FELTON, said two-bit cigars, Cliff House roads,
and the wrongs Of widows aud orphans, had satiS-
fled him, and he moyed the previous question.
Lost.
MIR. hcISTosu said il twenty farmers want to get
together and insure 1hemselye5 they ought to have
the right. But the old companies do not want any
such thing, for it takes away their most profitable
customers That is the whole milk in the cocoanut
Mr.. TYLER said this was q simple arrangement for
Duncan right over agaip, as Mr. Finlayson had so
apty said. The President can appoint thousand
agents all the world 1t is one Of the finest
traps to catch gudgeens that ever invented.
The author said that the "parties interested .
wanted it just in this form, and it will be curse to
the State.
Mr.. BRUNER said these corporations would be
amenable 10 all the laws the same as any other
company. 1t is on sounder basis than the old
companies.
Mr.. SALE moved the previous question, which
ordered. On the call of the roll, the motion
to postpone lost by a vote of % ayes to SO
The bill was amended and ordered read third
time.
Assembly Bill No. 251-An Act to amend Sections
$50 and 353 of the Penal Code, and to add new
section thereto, to be known Section 1877, in
lation to gaming (by Mr.. Sayle)-amended and
passed to a third reading.
After the v,'te was taken and before the vote
announced, o'clock having been reached, Mr..
TYLER moved to adjourn.
The CHAIR ruled it ont Of order, on the ground
that the Chair had the floor to announce the vote
Mr. TYLER appealed from the decision Of the
Chair. The Chair was sustained.
The bill was ordered read third time.
Adjourned.