Morning journal and courier., 1883-03-14

1 however.
 The discussion was opened by Senator | Hills, of the First, chairman of the Commit tee on Insurance. He briefly stated that the l resolution was not an unusual one, that 1t had received the careful attention of the l committee, and after a thorough investiga- tion of the whole matter they had unani- 1 mously agreed that the bill should pass. Senator Yale followed in opposition to the passage of the resolution. He said that he was member of the House when bill was introduced to increase the capital stock of the Etna company from $150, 900 to S750,- GOO and was vetoed by Governor Hubbard. When this bill was introduced he recognized it as similar one to that introduced at that time and he moved to table 1t. He then quoted from Governor Hubbard's veto mes sage where he pronounced the bill as iniqui tous and he (the Senator) took no exception to the Governors remarks. The Senator in sisted that the capitalization of the amount asked for was coming out of the pockets of the policy holders, This company he said was a mutual one, and the policy holders who have paid in millions to it are to have no share in the increase of the capital, which was originally $150,0OO and then raised to $750, GOO. He characterized the whole proceeding as fraud. Others beside GoyernorHubbardp pronounced the former in- II he believed 1t would be found out to be such. Continuing, he said the policy holders were to be heeced worse than any lambs were ever deeced in Wall street. There would not be 8 handful of wool left upon them. The people were to be heeced and the managers of the company were to be made rich there by. There was not as much of this to go in to the pockets of the policy holders as you could put in your eye. He thought the Gen eral Assembly had just much right to in crease the capital of the treasury of the State, but they had no right to take the peo- ple's money in this way. He should move to continue the matter to the next General Assembly and perhaps before the close of the session should move for commission to investigate this whole matter.
 Senator Clark said he approached this mat \ ter with great deal of diffdence. He had ! thought there was not time enough given for | the consideration of this matter. He said, | however, he could see through it all ques- tion of equity. He said this company should be just before they were generous, and if they l were not, this Legislature should compel | to be so. He thought that if this money belonged to the company it would be gen. erous thing for them to increase their capi- tai stock to this amount, but not from the money belonging to the policy holders. With the Senator from the Sixth CYale) he thought that time should be taken and an examina- ton made before allowing the company to increase it's capital in the way proposed. He thought commission should be appointed to adjudicate this whole matter.
 ! Senator Scofield said he could not intelli- gently vote upon this resolution with the knowledge he had of it and he thought it should be further considered. He said if he was satisfied that one single dollar of this l money was to come out of the pockets of the policy holders he would not vote for it. He called upon the chairman of the Insurance k0 Aok1 1hoE6 money to be used for increasing the capital stock belonged to the policy holders. If they had found after careful and diligent con- l sideration that it did not, then he would vote l for the resolution.
 Senator Hills, in closing the debate, said | the trouble seemed to be that it was 8 mixed company, part stock and part mutual. He \ said the committee had satisfied themselves \ that there was no clashing whatever between l the mutual and stock companies. It would seem, he said, that there was no doubt but | that the accounts were kept separate. He ! said that the committee were satisfied that not one mill of the mutual department funds had gone into the stock department.
 Senator Scofeld said that after the tx planation of the Insurance committee he was satisfied that no part of the mutual fund was to go into the stock department. He said there could not be one single dollar taken from the participating department and be capitalized under this bill. The language was plain and it could not be done. He said that nothing could be done without the con- sent of the insurance commissioner, who stood between the company and the people.
 Senator Yale moved to continue to the next General Assembly, but the chair ruled the motion out of order. The Sem ator then moved to indefinitely postpone.
 Senator DeForest said he had listened at- tentively to what had been said, but he still felt that he was not prepared to vote on the question without further investigation. He hoped, however, that the motion to indef- nitely postpone would not prevail.
 Senator Yale then withdrew his motion and made one providing for the continuance of the matter until next week on Wednesday, | when it be made the special order of the day l at Il o'clock
 The motion was opposed by Senators Hills and Scofeld The motion was lost by vote l of II to ,.
 The resolution was then carried by vote l of 15 to 3.
 There was but little business transacted be- | fore committees this afternoon. The Tenn l perance committee were in session and heard | a few parties interested in the proposed l changes of the license law. It is thought they will be able to report sometime this week.
 | The Judiciary committee were in session, l and it is thought they will get rid of consid- erable of the business before them during ! tu0 pE66cn6 W66A.
 1 There was hearing.before the Railroad ! committee on the Hartford and Harlem rail | road matter, the point under discussion being ! the proposed layout through New Britain. I Following is the business transacted in the Senate and House to-day.
 The Senate.
 l The Senate was called to order at 12:3O | D. m., Lieutenant Governor Sumner in the chair. Prayer was offered by Chaplain Parker.
 House matters were concurred in as follows: In referring Fridays business from the House, including the acceptance of the resig- nation of Assistant Judge J. P. Studley, of | term as judge of the court begins to day. Mir. l l.. P. Demipg has already been chosen as- sistant judge, and also takes his office to l day.
 MT Schofield, from the conference com. mittee on the bill regulating the practice of medicine, reported in favor of concurring with the House in referring the bill to the Judicia ry; so ordered.
 l Mr. Alsop, from the conference committed
 on the bill regulating fishing in Mill river,
 reported substitute bill making the penalty
 not less than $25, nor more than $1oO, or
 imprisonment not more than 60 days or both.
 report accepted and bill passed
 Committee reports were made as follows Fisheries, Chairman Gilbert-Substitute
 bill amending the act establishing a State
 commission for the designation of oyster grounds calendar. Unfavorable amending the act concerning shell fisheries calendar
 Agriculture. Chairman Alsop-Unfavor- able on the petition of Francis Burrett and
 others to SO modify the law relating to the
 shooting of rail that it's provisions shall no apply to New Haven and Fairfield counties,
 and petitioners given leave to withdraw.
 The resolution giving the A5tns Life lnsur
 ance company power to increase it's capita stock was then taken up and acted upon ai elsewhere reported.
 At 2:45 the Senate adjourned until Wed nesday morning at 10:3o o'clock.
 The House.
 The House was called to order at 12:30 p m. by Spesker Pine Prayer was offered by