Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1900-06-21
State Insurance Commissioners
Report Result of Their
Investigation.
IN BAD FINANCIAL SHAPE
Had Wiped Out Its Surplus Capital
Stock and Had Further Deficit Of
$115, OOO-Drec Exonerated-
Insurance Legislation Recon-
mended.

ers OF the State of Vermont for the end
ing December q, 1899, is published and
some of the most important features are
given.
After giving a resume of the changes in
fire and life insurance companies the sub
Ject of legislation is taken up. They say
The commissioners do not favor any
radical insurance legislation at the APP
preaching session of the General Assem-
bly,. They believe that the business of in
surance, Ike other interests, is fully as
likely to suffer from an excess as a want
of legislation, and that stability and per
manance in insurance conditions more
than offset the benefits which accrue from
that kind of legislation which proVokcs
agitation dsproportionate TO it's advanta-
gcs.
No. II of the Acts Of 1893 provided that
no fidelity company of another state
should do business in Vermont unless it
have a deposit of good securities with the
insurance commissioners of the market
value of 100000 No company has
made such deposit and as "A
consequence the sureties on pro-
bate bonds in this State. in
which a collective liability of about : y
millions of dollar Is annually assumed,
are residents of the state who in most cas-
e. assume the liability as d personal ac-
cummodation and without compensation.
In some instances the surety is in turn in
.i ~ - ~ ~ ~ ~ ,,,.,,.
~ AUTHORIZATIONS i .ii, t,.,,
talion. it sccmsneCcSsary that there should
be in the state attaChabe property OF the
surety on probate bond, and a good held
for business is open to thecompany which
, lt, W. ,ta, tto ,,,ar,inoof
',,. .,,,j,' ~, iroto+a ho,de oe "a n,atter
80 ',,I,r tia,, ,,,tu ha iarrolv discon-
ti,,,,,S .hr, ,os,>o,,.,hio e,,retv c0nn.nins
,.o ~, , ,'os,.io,, ~ ass,,r,c tbis iinbilitv
,rh. 10 u, roi,,t,,r - tba colinc,io, of da-
. r,.,,1-.',t,,.. d., io.,'., So. ,,.orl,ea e,,is
s..'i .t .,,S,,,,t To- ,,,orl,. an
,a..as roo5il,, ,u,nisLi,, tho roouircd in
fo,,,,+io, As aunoaetod In Tho last ra
49,. ~ af. ~ -, i-,,. &C. ,ho, 4, ,,.o
,.ida, No ,,oathod Gov Tho disco,ar,, Of lace
80 l,,, ~ h ~, ir,, o r.b|,ro
tho in.,,,.naa - IN ,,,or,raniyed cornnanias
,rho ,nn,ilro,, ia 40 se,'orai ,tetns is to.
,,.r,.,1, no l,.o,ttor 90 - sonoratr o,,n., Ia
;,,.,.,..i.,,.a d.. ,,1 ,oi1aot dato r.spoc+
49, -, n.,,,,,,i,, ,ba. I,ar,oor+ doas
,,H, ,,t II 80 .,,.,.a ,ho oaico Of fro
,ss,a, :. -. ,ta. 49,, 1 ~, .bo,,id no
a,,ordad en- a. ,o ror,od, tbo defect 70
sar,a1 80 T., ~. tIa,,,n,h;ro n ,s rv
.,t,. ~, ~ co. o,,riroa,s ~
.ota,',,,,i' ~ i,,,.o.,io,,a 49, 70 rar,rt
,ha rn.,,ite -, s,,oh t,,,,asticatio, "a tho
- ,.t 80 -, 49,, =. -; "a
80 ~ , Ii, -, H. a -, aoh g, :,
,,,ortbs Nv f,,r,ish tho i,s,,r,,,co dew,
months 10 IorIisn Inc insurance a uepn arr
n,.a ,ri ;,'s,a, ,a,,u,,ssiorar 90 Nm
uannehira assures this denartmcnt that
the law has worked satisfactorily and
without being any expcnse to the state
The commissioners recommended that our
statute be reinforced by a law similar to
that inst described as being lucrative in
- ,t.t.t, Mn - ,i 49, 49,
state feels like incurrine additional OK
penee I'm this direction such sunplementa-
nv LEGISLATION will he VOL ada ntad TO our
needs
The domestic mutual fire comnanies
have as usual written , larpo share Of
tho business done in tho state ,rbev have
heon of such valuo 10 tho sta+o botb nv
furnishire insuranco M minimum, cost ana
h,, +hoir innrarcn u,oo ratas ,bot .hai.
nernopenco and stabilitv oro Of tho gro,t :
oct in,nortarca rhev have ana deserva
ruu confidence If mo insurine, nubIic b,t
II soone only fair tbat in nrosnerous
voars when If can no dono uitbout ,oal,
ING an assessmont of over fvo nor cent
tbov .bould ha norr,i,,ad h.. ,,t,to -
accumulate q lip,,tod eurnI,,c u,bich NM,
serve ne a balance wheel in rogI,a tin,
rates fro,n ,,oa,. 70 ,.oar ha a ,ai1s,,ra,,ao
reserve o,, tboir stock husiross ana f,i,.o
the comnaniae an oven oddod s,ropgtb a,d
etobilitv rrbo comr,issiorors Nc nro
waved ana viii racor,rand a ,,oas,,ra -
tbis ord ono No, oblira low. mo, w. oo,,,
NAMES I'm, u.Li,b Iii narn,i+ ,ha ,o,io,
abnvo outIiraJ Wv
rho q hndroue poro,.o,or, cooio., to