The times. [volume] (Richmond, Va.) 1890-1903, 1902-12-05
IMPORTANT BILLS
ON MANY SUBJECTS.
Mr.. Cumming Tackles Corpo-
rations.
FOR AN INSURANCE BUREAU.
Great Fight Brewing on This Subject.
MIR. Foxes to Continue Battle tor
Laborers-Finance Com ittee.
Capitol Commission to Meet.
FOR AN INSURANCE. BUREAU

Capitol Commission to Meet.
Hon S. Gordon Cumming, of Hamp-
ton, offered two important companion
| measures in the House yesterday, both
designed to conform the statutes of the
State to the corporation section of the
new Constitution. They are designed to
establish a Corporation Commission, pro-
vide for the creation of a bureau of in
surance and a bureau of banking. each
one under the superintendent of the
officer appointed by the commission
at a salary of s.. clerk. bailiff.
ard two assistant clerks also ap-
pointed by the commission at the follow
ing salaries: Fifty thousand dollars is
appropriated for the expenses of the
Corporation Commission, including sal
aries. witness fees, etc. The secretary
of the commission is directed to pre-
pare suitable quarters for the commits
sion. who are to meet and organize on
March /, 1903 The chairman of the
Corporation Commission Is to receive
salary of forty-five hundred dollars and
the other two members four thousand
dollars each One bill repeats Chapter
AZ. of the Code, and provides a general
stock corporation law setting out gener-
al powers and provisions. governing all
Joint stock companies. such as the liza
bilities of the stock holders, election of
the directors and transfer of stock. stock
holders meetings, etc. Its purpose is
to provide a general law for the govern
ing of corporations, as between cred-
tors. stock holders and directors. but
does not include the creation and or
ganization of corporations nor their
rights and liabilities.
Mr.. Cummings has In course of pre-
paration a general bill covering these
features Of the corporation articles in the
Constitution.
The bills of Mr.. Cumming and others
on the same line indicate the evident de-
termination OF the Legislature to have
2 Bureau of Insurance, and other bills
offered i nboth houses on the general
subject of insurance are going to bring
up one Of the prettiest fights of the
session.
The Senate bill No. 10, offered by Hon.
w. ". Sale, of Norfolk. known as the
antitrust measure, which, while not Of
fcred for that specific purpose Virtu-
ally revives the Wharton anti-combna
ticn laws. will be earnestly resisted by
come law. it will again drive the South
eastern Tariff Association oat of the
State. It might seem inconsistent that
Legislature which, at a former session,
repealed the Wharton law would now
desire 1t restored but members say
the result has not been what the insur-
ance people promised, and the contention
is made that instead of rates going down
they have advanced since the Wharton
ID tal-o "a ct a ia h0olSc
It looks now as if Senator Sales bill
will pass. though the insurance people
are going to offer urgent and persist
ent opposition. The entire scheme Of in
slirance in the State is likely to undergo
violent changes, owing to new consti-
tutional conditions, and after the holt
days great lobbies will be almost daily
l:eld at the Capitol looking after the
after.
Hon. E. c. Folkcs said last night that
he proposed to make the fight of his
life for his bill requiring semi-monthly
settlements with mine and factory oper-
atives when the adverse report Of the
Agricultural Committee shall reach its
proper stage in the House.
81 modified my bil,'' said Mr.. Folkes,
"as I thought. to meet the views of
members Of the committee, and I there
fore had strong hopes OF it's adoption.
That these poor people had soma pro-
lection there is no doubt. and I am
sure from what Know on the subject
that the present laws governing the
subject are being violated every day.
Men who deve in the earth for their
daily bread should not be compelled to
buy at high prices their provisions at
company stores. But I waived this and
asked that they be offered relief in the
matter of speedy payments, and still
my colleagues on the committee could
not view the cause as righteous one
Mr., Folkes is a game fighter and may
be expected to stir things UP any time
he ''breakS loose.
Hon. William Henry Boaz. the popu-
lar chairman of the House Committee
on Finance. who is considered eminent
authority on this great subject. said
last night that he hoped his committee
would be able to make full report to
the House early in the coming week.
This will probably be the first report
made. and when the revenue measure
comes from the hands of Mr.. Boaz 1t
will be in good shape for speedy dis
position by the House. Mr.. Boaz SAID
last night that many of the recommen-
dations of his committee wo''ld he on
the lines of the present revenue scheme.
II,
new features made necessary by the
changes in the Constitution. Mr.. Boaz
was a leader on the Convention Finance
Committee. and is therefore Thoroughly
IA r,;liar with all the changes in the
revenue system Of the State
Under the laws of the State Of Vir-
GINA all attorneys appearing before
committees of the General Assembly
in advocacy Of or in opposition to
measures, which have been presented to
that body for consideration there IS
tax of one hunded dollars for each SEES
sion. There are just ten lawyers VINO
have paid the tax in this State Those
who have paid for the year ending
September so, 1902. are:
Messrs. Joseph T. Lawless, Nor
folk, December TO- 1901 ...-....-..- 500
John L. JeTries, Norfolk. Decem-
Der u, 1901 loo
a. B. Gmgo,,. Richmond, December
&c. 1901 ACKNOWLEDGEMENTS. ioo