The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-11-18
Unaerwrsters, Conxcn.,o,,

Ihere was large attendance OF the lead.
ing Underwriters Of the country. A. Ion.
uoh snowdcn, president OF the Fire Asso.
smllon OF Philadelphia and Director Of the
Mint, presided. VI ''''
Inc meeting was called 10 order Ut,io
after ii O'Clock. About 900 delegates re-.
sponded 70 the roll-call. Nearly loo COM
panies were represented. The president
tnen delivered his address. lie said fbat
me outlook for insurance companies WIS
hopeful. What VAS most desired I'm fbeir
business was unity of action, confidence i'm
each others integrity of purpose. and fair
ana honest dealing among the companies.
He urged the necessity Of uni,orm moI,c,.
form In the various States.
The report OF the treasurer. II. n. IIull
showed balance OF S3,373.03 in the
j.. n. Durham, Of Springfield. Mass
reau paper ON "TaNation 81 Fire-In-
surance Companies" He said the old doc
trihe OF ono taxation withou. representa-
ton ;. had been changed to "get all YOU
can from the corporations" lie had no
lal'h IN the law-making powers. The taxes
on companies altogether were nearly per
cent. OF the capital, and II new company
should start and invest its capital in Gov
eminent bonds the interest account
would not pay the taxes. lie de
CARED reciprocal taxation to be ga diplo-
matte title for retaliation" In conclusion.
Dir. Durham offered the following resoI-
ton:
Resolved, That the whole subject of tax
alton, licenses and deposits be referred % a
committee Of five, with authority to core
spond with or appear before the officers and
legislators Of the various states. and also to
present the facts in the ease TO the Insu-
rance Commissioners Of the several States
individually, and also to appear before said
commissioners at their neXtannual convon-
ton, IN person or by counsel, TO urge the
importance OF uniform legislation relative
10 taxation in all it, forms, and to ask said
commissioners to join us in q request to the
several States they represent for relief in
part, az least, from the heavy and unjust
burden now borne by the firc-insurance
companies.
With m amendment instructing the COR
mittCe TO give special attention 10 the repeal
OF reciprocal laws, the resolution WIS
adopted.
Thomas E. Chard, OF Chicago, next read
q paper on Legislation" treating Of the
value OF cooperation in preventing UnWIse
aud promoting sound legislation, both ~
respects the companies and assured per-
sons, and the best methods OF securing
such cooperation. I'm conclusion he offered
resolutions urging the Association to con-
tinue TO take into consideration plans for
securing the defeat OF unjust and danger
Gus measures, and to encourage the enact
ment and enforcement OF wise laws. There
was considerable discussion over the Tcso-
lutions which were amended and adopted.
George +. Hope, Of New York, read the
next paper upon the "Ilistory OF the Fire
Insurance Policy lie said that there were
not half dozen Insurance companies in
this country whose charters extended be-
yond 1920. Up to 1885 the companies were
few and insignificant. Since then their
growth had been very rapid.
y. hoffman, Of New York, read y paper
on "Codiiied Policies Can they be made
safe for the assured! Ought this Associa-
ton to recommend to Legislators FOR adop-
ton any form OF standard policy" lie
said there WAS no doubt Of the first. As
for the second question, Il codified policy
would interfere with individual right Of
contract. With such policy insurance
companies would always know the worst
10 be expected in court. In conclusion he
offered resolution, which was adopted,
that the insurer should have the framing OF
the conditions Cf the policy, but when the
subject came before legislature, the Adj
yisoIy Committee OF the Underwriters
should offer for adoption "a STANDARD pol
icy preserving the form and force in other
States"
A paper on Cooperation" was read by
A. :. Gillette, OF Philadelphia. He said
that honorable companies found agents OF
a like character. Many old barriers in I'M
derwrting had been broken down. The
form Of adding policies was an abominable
feature. This paper was followed by one
on the changers OF Electric Lighting" by
w. \. Anderson, Of New York. At its con-
cluson resolution was adopted with
reference to taking necessary measures for
guarding against these dangers.
II. +. Atwood, Of Rochester. followed
with paper on "The Hazards OF Pctro-
lcum and lis Products" He offered reso-
buttons that laws regulating the sale and in
sltection Of kerosene should lie more strir-
gent; that q lash-tost Of at least 1909 should
be substituted for fire-test; thai action be
taken against the Use Of gasoline, and that
no permits be given for the use OF gasoline
stoves. These were referred to the Com !
mittce on Business.
John 6. Paige, Of Boston, read the Inst |
paper OF the day on "Froper Reserve for |
OF Outstanding Risks" He /
aid that further legislation was OF doubt |
'ul utility. lie offered resolutions that the |
Advisory Committee be authorized TO COM
on the subject with the commit !
ce OF the Insurance Commissioners Con- |
fention. This. and a resolution by Mr.. |
Hope that members should communicate |
with each other regarding /
Unworthy agents, were referred to the Com
nittce on Business. -Nelo YOric tribune.