Capital journal. (Salem, Or.) 1893-1895, 1895-02-25
The New Law to Tax Foreign
Companies.
HOME COMPANY'S WORK.
Its Officers Among the Best Men
in Oregon.

The Insurance men haye been caus.
ing considerable activity 10 Salem Of
Iate- One day last week a furry was
brought on by the local agents of the
companies represented In the city cut
ting the rates usually charged for prem.
lums to about one-third the customary
price. But this is hardly a circum.
stance beside the interest that is being
manifested by the officers of the
various companies over the Passage
OF bill in the legislature to tax
all foreign insurance companies two
per cent Of their gross earnings. This
Is the law Of many other states, and
gives neat sum to the income of the
state government. 1t is tax that Ore
gon companies are compelled to LAY to
10 business In other states, and WHY
should not outside companies that
come into this state to do lucrative
business pay here?
This action is certainly justifiable.
when 1t is considered that one company
in this state, the State Insurance Com
pany, of Salem, pays as much taxes as
most Of the foreign combined pay into
The State Treasury of Oregon.
The State Insurance company also
docs business In Washington and
idah", where 1t pays the Q per ccnt
Eros1 premium tax, aside from all its
other expenses From this 1t is easily
seen that an Oregon company Is at q
great disadvantage under the old law.
One OF the remarkable things that
under all these disadvantages, the
STATE Insurance company has built I'D |
one OF the most prosperous institutions
of its kind Oh the Pacific coast. II
limits It's business very closely In all
centers OF population, 80 that no great
conhagratlan, like the Seattle or Spo-
sane fires, can possibly cripple its
financial condition. It's business
methods are conservative, and all its
policies are written with the intention
OF having its face paid In case of an
honest loss.
At the last annual meeting this
strong company took another telling
step TO the front IN the way OF addin.
new blood 10 its list Of officers. ii. w.
Cottle, the old manager, aud up-buildeT
Of the company, was elected second
vice president, aud his place was filled
with Edmund q. Giltner, late assistant
secretary Of state, who is widely known
as q gentleman commanding the high
est respect Of the business people Of
Oregon,
Dr. Rowland, who has served long
aud well ss president, has been sue
eeeded by the one nRn IN Oregon who
Is best lifted 10 assume the burdensone
aud responsible duliis dey0lylng upon
the head of so great BUSINESS ss this,
Hon, Phil, helsehan, the present stat
treasurer " Oregon, MI, Mstsobsn II
knowp as one of tho most thorough
and paioslakipg buslnaas men ,oDs Who
gives ghhteyef le pnaefihkes hlh ol0s
asi psIsonal pilsnll0p, tia nnanoisl
slanding aud personal ialsgnty are
alogs Teproseb Mr AsisShsp 10
lnsp gho has worked bis wsy up fIop
ths b0tlGm round " ihs commercial
ladder iie has besn lspsatsdly bop
ored by bis psople AZ bouls agd W ihf
stats " Oregon, snd he hss ~ al llnsf
been fauna ilus ~ hls Dusii ~ shat
egsf pasillep hs hss bssp, A. president
VI ihs klsie insuIsnes eolppspy hF
bnngs lpio lhsi business ap espellsnpf
N pnYsis snd puddle silsils possessed
~ bni isw asp ig Visseai sag qusil
Iles sbleb Apsl eanlllbuis greatly w
sng psipslpsilns ibf seaa
nslns Ebleh bio egupspg Rlissag
I,,,aass@fs lhfovRbevi ibs faelne pelih