The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-12
The BILL is NOT APPROVED.
General WhaTtOn'S Eea uVe Rejected By
The Stllte Committee.
TEE VOTE WAS ALMOST USAFINOUS.
Only Two Members Voted In Favor OF the
Actor Ihr, Houfs there Wasan In
tefestiug Debate Major s;ringfei-
low and Nj. Cooke speak.

The Senate Committee on General
Laws with only two dissenting votes last
night decided 20 report with tho recon-
mendation that 1T do not pass the Whar-
ton bin TO prevent combinations among
insurance companies for the purpose Of
controlling rates.
This measure IS designed TO break up
the Southeastern Tariff Association.
Tho committee met in the Senate cham
perJand there were many interested per
sons in attndauce
Among the Insurance people present
we're Mcssrs. w. IT, Paxton. Buena Vista;
W. j.. McChosncy Staunton; w. f. Tins
ler Clifton Forge. $. II. Hansborough,
Winchester. w. - Deckort Harrison
bure. J. A. Edmurds. Halifax Court
house. j. T. West, Suffolk; j. W. Gordon,
o.. l.. Alfucnd. Williamson Talley.
George e. jefferson and J.. r. Warren,
81 ,his city.
10 was decided 10 hear argument until
IL o'clock. The proceedings begun by the
reading OF the bin by Clerk Niemeyer.
THE PATRON TALKS.
General Wharton, the patron Of the
measure. made O. brief statement as to
why bee had offered ths bill and told of
the committee Of the House and by the
House itself. He had q pack OF letters
from all parts of the State from persons
who complained of She rates fixed by the
Southeastern TMln Association. In con-
clusion, ne spoke OF the increase IN the
rates since thc Southeastern Association
was formed nnd he frankly admitted that
the object of tho bill was 10 break mp
this association.
The next speaker was Mr.. S. II. Hans
borough. a local insurance agent In
winchester lie said there was no cry
from the great valley OF Virginia Cor the
passage of the Wharton bin There was
no complaint as 10 excessive rates since
the formation Of the association.
I'm 1cply 10 a question from Senator
Massie. he said rates were really lower
since the association was formed than
before IL came into existence.
MAJOR STRINcrFILOWS ARGU-
MENT.
Major Charles S. Stringfenow in begin
ming his remarks paid a pretty tribute
10 General Wharton as soldier. re
admired his splendid war record, but he
was convinced that the General was for
once in his life wrong and the 'neaker
b0ncd 10 prove this TO the satisfaction
of the committee. His first argum nl
was that the committee should not con-
slider alone thc object of the bill as
stated in the title but 20 also consider its
erect By way OF illustration. he related
tho story OF one off tine biggest banks in
New York. 20 was organized I'm the
early part of the century under the pro-
vision of "a bill that chartered a COM
pany 90 furnish pure water to New YORK
and "for other purposes. This bank
has survived al financial wrecks and
the war and is doing q big business now
under the charter referred 20. lie call
ed attention TO the fact that the Nir-
tlnla legislature after chartering the
American Tobacco Company had repe'I-
cd she act.
sixty days thereafter the state Of New
Jersey chartered thiG company which
was now doing a business in Virginia
and employing over 900 people. tad
Nrduia's charter remained IN effect the
state would De receiving the tax on SaO.-
10000 Of capital and there would be no
need of au the cry about rc.rcnchment
and reform.
AS To COMBINATIONS.
tn, Major then went into a mastery
argument 10 show that combinations
were not always hurtful 90 the interests
of the people. lie cited the case of the
STANDARD OH Company 3nd reminded the
committee OF how the price OF oil to the
consumer had been reduced A spien-
did argument was made 9s 20 the OBJ
iects and aims of Insurance. The Ma
ior Ukened the insurance companies 20
the cndOrser on note. a man OFTEN
could borrow money if ne could get n
man OF financial star ding TO endorse his
paper Iie wanted TO know what man
would seek to strike down or weaken
the person who was surety on an evil
dcnce Of debt. Yet this would be the
effect OF this bin. Insurance companies
were simply rulrantors that "a certain
amount Of money would be paid under
certain conditions. A blow at them
would be disastrous TO those who held
policies.
The Major said 10 bring the question
down 20 IFS plainest Interpretation. IT
was whether or not the Southwestern
Tariff Association was an advantage or
O. disadvantage 90 the policy holders. fle
presented figures to show that upon the
whole risks upon property have been
reduced since the ASSOCIATION was form
ca Upon certain properties, risks had
been increased but upon other properties
there had been decrease There had
been an adjustment or an equalization
II rates He contended that there was
no justice I'm compelling the companies
Il give the same rates In town with
out any FIRE department. as iu Richmond
where the lrc department has been
brought up 10 tho highest state OF perfec-
ton. Figures Wtle Etdu NiA0NshS NtitAA
since the association was formed rates
had been reduced on country property. lie
read a bin offered In the North Carolina
LEGISLATURE in 1897. which provided that
rates on country property should not be
higher chan that on farm property in
Virginia and arcred theretrom that mas
much as the Virginia standard was ac-
cepted the rate in this state could not
be exorbitsnt
MALI. IHOIIT
After speaking OF the heavy losses OF
Insurance companies IN Virginia. and the
profit OF only per cent. during a period
of years. ;he Major spoke OF Insurance
rates IN Norfolk and explained that they
we're high there. on account Of the cot
ton warehouses lie produced a laugh
on Mr. Cooke by telling Of the Cotton
Trust ia Norfolk. He did not object 70
this trust however.
The Major called attention 10 The fact
that there could be no insurance on GER
ialn properties under this bill. For in
stance. IL companies could not combine
10 Increase rates they could not combine
70 decrease rates. There had 10 be a
combination OF insurance companies 10
insure such properties as those owned BY
the American Tobacco Company In Nir-
ginia. the jefferson Hotel, the Tredegar
and Locomotive Works. In this city, and
the Riverside MINIS. In Danvilie.
The Major. toward the close OF his
argument. said:
Il tell YOU YOU are doing a dangerous
thing when you endeayor 10 change the
rules Of evidencc in such a m inner as