New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-02-14
ARGUED BEFORE MIR. MORTON
A HEARING ON THE INSURANCE RETAIL
ALTON BILL.
JOSEPH H. CHoATE DECLARES THAT 1T Is
MEASURE OF PERSONAL SPITE DESIRED
ONLY BY TWO LIFE INSURANCE COM
PANIEs-REPI.IEs AND REToRTS
BY POULTNEY BIGELOW
AND OTHERS.

Albany. Feb Ex-Governor Morton this afternoon
gave a helrrg on the Insurance retaliation meas
OF Assemblyman Hustled. providing tha' - any
foreign Government shall refuse 10 permit any IN
surance corporations Of NewYork state 10 90 ouSi-
ness in its territory Superintendent OF Insurance
Of this State shall refuse TO allow the companies OF
such foreign country 10 do any business IL New
York. and also that II any insurance corporations
Of such foreign countries now Represented ia '"'s
State, the State superintendent shall revoke
the licenses issued 10 them Among those VINO APP
peared before the Governor to discuss the bill were
Joseph II. Choate J. hoffman and l. K Kennedy
representing the Prusslan National Insurance COM
pany and the Munich Fire Insurance company.
Among those VINO appeared in favor OF the Dil'
DR. Emory McCntock and Chandler L. Lewis
Andrew Fields y. p. Knslay, r. A. "lcks'
Judge Andrew Hamilton. representing the Mu'ua''
NewYork and Equitable Life Insurance companies
and George +. Sheldon president Of the ihehM
Fire Insurance Company. OF Brooklyn, VINO also
represented the Home. Continental. United states
Empire city, Citizens. Williamsburg city Green
wich Stuyvesant and American fire insurance COM
panies. favored the bill.
The frs; speaker +. r. Kennedy. he op-
posed the bill. and presented letter from the H.
Il. Clahin Company. OF New-York. and other Dig
concerns saying that ii would largely increase theIr
difficulty IN securing adequate Insurance. lie also
presented a petition signed by bankers ana mer-
chants, protesting against the BILL. letter iro"
Charles stewart Smith, as a director OF an Amer
team fire insurance company was read IL SAID
that the retaliation proposed was too harsh ana
would operate 10 the end that there would be an
Inadequate capital employed in FIRE Insurance ousi-
in this State hereafter. He doubted that the
Prussian Government has Disseminated against
New-York companies
GEORGE T. sheldon, OF New-York. appearing Tor
a number OF domestic fire insurance companies
spoke in favor OF the BILL saying IT was the only
kind OF legislation possible TO cover the case
Every fire risk abandoned by Prusslan companies.
he said. would be taken Of by the companies
now doing bus ness here. and nobody would suffer.
Mr.. hoffman IN behalf OF a number OF foreign fire
insurance companies. appeared In opposition The
present law he said. was fair. equal and reciprocal
and should not be changed for the improper ana
unfair measure proposed Because Of the desires OF
life companies. fire AMI marine companies were 10
be debarred from doing business in this State The
fire and marine companies were not at auIt ana
could remedy the trouble u the lie companies
In Prussia AS TO the emergency calling for the
bill. Mr.. Notmln said question OF fact Was IN
VOWED which could not be determined by the Ia
ecutive within a fortnight There 10 reguia-
in Prussia aimed against American lie com
pan.cs which Ia force against the com
panies Of any other nation and German companies.
companies the New York state laws.
Professor Charlton T Lewis spoke ID 'avoT OF me
bill. lie SAID tina; the German Empire had 10 IA
surance laws. but the Insurance business was JnarT
dom or principally. There were i'riees ana ofae!s
innumeIabie 1A~ harshest eecrees "ere those ~
Herr Koenler Pruss.a's Minister % state. VINO
had sworn a great oath that The American com
pauics should bc tr!ven from Prussia. and hal
REPRESENTATIVES tn message and representative Of
the New-Nork Superintendent Of INSURANCE hal also
said he lrew the IN at the request Of me STATE
Superintendent o., Insurance and believed that I
Joseph II Cnoate spoke against the bill The meas
he said would innict an injustice on the eusi.
and all he rif Of .
AZ the Instance Of NO lie insurance companl's AMI
gerenHes with the of,iccrs 4 the Kingdom o,
Prussia Mr Choate argued that, under tn BIZ.
bu, must, when a New-York State company Is Us
s sgaiea o. ha, t5rcs G' aion from his Sac
Nj hoffman declared that commercia! crcdi, IN
n. Enslish insurance compauies
Judge ANDREW Hamilton. Of Albany. spoke n
favor Il the bin. lie asserted that conran.es not
German had been all Nd TO 90 business In Prussia.
and had not complied with ne rcsiriciions whi'n
had been pat upon the Ne"-fork life insurance
companies. a.
the bill bat the i~o He insurance companies As
eg ~aa asansi the iii boz reprc!rnia,ives o; the
rrusslan companies. Mt Cnoaie SAD ne ispres'ht
senator Burns ana Assemblyman Hustled declared
and that ample tine had been allowed for hearings
FoUltney B.seO~ ~" cmlssary u the New- DIX
Drpartmcrt who was sent TO Prussia recently. sal
mat when n. PRESENTED himself 20 tho Prussian
Minister that Official told him that American inslr-
ance companies were rotten 10 The core. ana they
would De driven on, OF irussia.
Mr. Choaie broke In A. this point Win a state
nent that the Governor must plainly see that i
was persona. spite ana temper that had prompted
this lcgslaiion and that II the State was bound 10
get even with Prussia. the proper course WOMB no
to exclude the Insurance companies OF that country
from doing bust In ms state
Governor Morton. IN dismssng those present. said
that he had listened VITA interest 10 all that had
been said and he would give The matter careful
consideration before taking action.