The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-07

BANQUET At THE GRAND LAST
NIGHT AN ENJOYABLE AFFAIR.
Speeches by w. II. Hart. Mayor Tag
CART, Attorney General Tay-
Tor and others.

| Surance Association given at the Grdnu
| Hotel last night will be remembered by
| the hundred or more guests present not
] cniy for its tempting menu and elaborate
/ service, but for the good fellowship and
| fraternal spirit generated among many
| representatives of different insurance COM
panies. Competition was forgotten for the
time, and every one present did his best to
promote general good time
When the coffee had been served and ci-
| gars lighted President Henry Coe, of the
Indianapolis Fire Insurance Association,
| POSTMASTER. arose and read a letter from
| Governor Mount, In which he expressed his
regret at not being able to be present.
After announcing with regret the absence
of Aaron M. We'll, of Evansville. president
| of the Franklin Insurance Company and of
the Indiana Local Agents who was to have
responded to the toast of Local Agents
| Associations" the POSTMASTER called upon
+. b. McWhirter, who said in part: This
| company is a representative body of
| shrewd business men, and / can tell them
nothing new with reference to the insur-
| ance business. The world is large, and We
are fast growing into the time when there
are nc longer any petty jealousies among
the different companies. There is room
| enough for us all. Ideal relations between
employers and employees are difficult to at
| tain, but we will gradually approach a bet
| ter state OF perfection.
| When the POSTMASTER announced the
| next toast and introduced William H.
Hart, auditor of state, every guest present
arose to his feet and with one accord greet
| ed him with such an ovation as is
rarely accorded an after-dinner speaker
His toast was Legitimate Insurance"
lie said In part: Insurance is one bust
ness In this country for which there is no
| United States. The courts and Constitution
do not recognize it as being subject for
interstate commerce, and so each State
exercises a good, bad or Indifferent SUPER
| vision, and In the babel of legislative enact
ment the unjust and onerous condition of
diversified statutes exist that can but en-
barrass the executive functions of fire I'M
derwriting. There is sane reason why
the insurance code I'm all the States should
not be uniform instead of crazy quilt of
forty-hve patches. am believer In ra-
tional state supervision, but If there cam
not be uniformity Of laws between the
states and uniformity of rules and prac-
tice within the different departments then
an amendment to the national Constitu-
ton recognizing insurance as a commerce
cannot come too soon so that this greatest
or business help can be protected and con-
trolled by national supervision. 1t is not
the purpose of the State Department to
extend a miserly hand to insurance COM
panies and, like the children of the horse
leech, cry. Give. give But by enforce
L
with the law against the organizations Of
| fraud and personal greed, that lodges in
ana out or states, piratfng business as do
foraging guerrillas In a defenseless coun-
| try. You. gentlemen, represent one of the
| strongest supports upon which the COM
| mercial interests Of Indiana rest. The fire
equipment that minimizes losses confers
| maximum benefits on the community Bet
ter laws, better buildings, better co-opera-
| tive agencies are the practical means in
combating the annual increase of fires and
Il vxil COlx he pf nfncv tac
And so charge official duty with the re-
sponsibility of insurance superintendent i
plead here and everywhere for justice, for
| protection to, for cooperation with I'm
| every practical remedial way along the
lines l have somewhat limited at for the
insurance companies authorized by the
some States and pursue insurance inter-
ests with the crusaders sword"
w. L. TAYLOR'S REMARKS.
Attorney General VIM. l.. Taylor respond
ed to the toast of 1.-THE Insurance Laws of
the State" He said, in part: 1.-THE insur-
ance laws of Indiana fill a hundred pages
of the statutes. These laws regulate the
organization, taxation and operation of the
companies. They also define the method of
payment of losses and provide for the Sc
| curity and protection of the insured. Yet
there Is not a page of the statutes devoted
to the prevention of fires; there is nothing
in the statute that locks the stable door be-
| fore the horse is stolen. The two great
burdens that property bears are taxation
| and insurance. These burdens have grown
so great as to have lessened the value of
tangible as against the intangible property.
| The breach between the two is gradually
widening. That which all States need most
at the present time In insurance legislation
are some regulations for the prevention of
| fires. To-day the actual earning power of
unhazarded money is about per cent. per
annum, and yet in many communities the
| total tax and insurance rates alone exceed
that amount. We are making great strides
by way OF improvement and cheapening
I the cost of government. Taxes and insur-
ance ought to grow less rather than great
er. The way to lessen the cost Of insurance
} is to regulate the construction of buildings
with view to the prevention of fires.
Taxes and insurance have not decreased
| with the ncreasing earning power of
money. They are substantially the same as
when the earning power Of unhazarded
| money was about per cent. per annum.
| Ii is true that when taxes are collected the
money changes hands and there is no ac-
tual loss to the community Not so with a
fire. The value of the property destroyed
is lost forever. Next to the preservation of
lives. society is interested in the preserva-
ton of property"
MAYOR TAGGART TALKS.
Mayor Thomas Taggart responded to the
toast, 1.-THE Relations of City Administra-
tons to Fire Insurance Interests" Mr..
| Idggart began with the statement tnat the
| relations were at that moment most agree
able, and his face was wreathed in smiles.
Just as he finished the smiles were changed
to frowns. probably because of the sounds
| of a fire alarm which reached the ears of
the banquete-s.
| Mr. Taggart said. in part: "As mayor of
| this city L have taken some pride in the
, | last few years In the condition Of our fire
| department and the small losses we have
sustained i'm Indianapolis. but 1 must say
that since the first of the year We have re-
| ceived black eye. During the last few
years We have seen a great many buildings
that have been defective and unsafe.
| have known that fire department was
not sufficient for our needs, and in my
} annual message there was q recommends
ton for additional fire equipment and the
| | Board OF Safety is now working on these
, matters In such a manner as / think will
| meet the requirements. / do believe we
, have as good fire department here as any
, | city of its size in the country. but / must
| say we have not as large fire department
| here as we should have in case of a gen.
| eral conflagration. We are now preparing
| an ordinance which will provide for an
, | electrical inspector whose sole duty shall
be the inspection of electric wiring. for
believe that more fires in this city have
been caused from improper wiring than
from any other cause. The fire de-
partment Of indianapolis will give the in.
: surance interests everything they have in
their power and to Indianapolis upon a
basis that will be fair to the insurance
interests and to the taxpayers of the city