The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-06
INSURANCE
MEN. HEARD.
They Appear Before the Sen
ate Finance Committee.
SEVERAL SPEECHES MADE
Ask for Relief from Local Taxation and
Urge that the Tax Fixed by
the House Bill Be Re-
duced.

The Senate Committee on Finance last
night buckled right down to work 1t
tackled the revenue bill. 10 deal With
this Important measure, to carefully con-
slider It and to guard every interest or
the Commonwealth Is no easy task 1t
ia q lob that no ,one runs around hunting
FOR. Chairman Wickhnm and the other
members Of tho committee wore upon
their faces expressions Of quiet resignn-
ton to the condition that confronted
them as they came into the Senate cham
Der and took their seats.
A schedule had been made out for tho
hearing Of each interest that would be
affected by tho act. 1t must be stated
that the committee Is not hearing people
simply as a matter of courtesy, but that
the members are digging down deep 70
get information that Will serve them IN
acting ntclligently upon this measure.
Senators do not hesitate to ask questions,
oven though those questions be penctrat-
ins and, perhaps, sometimes. embarrass-
ing to those who are questioned.
MIR. BOAz WAS THERE
Chairman 13onz, Of the House Com
mttee on Finance, was an Interested
spectator, and he watched the proceed
ings with his hawks eye. 1t is to be
presumed that tho Senate Will nuke
amendments to the bill; it will 60 back
to the House, and Mr.. Bonz made some
mental and written notes for his guild
ance.
The night was given over to tho insur-
nnce people For two hours the commit
tee heard lawyers, who spoke as counsel,
and agents, who talked as practical busl-
ness men.
Mr.. Eppn Hunton, Jr., lawyer whom
the members Of tho Legislature always
delight In listening to, forshe always has
netting to say that contains food for
thought, spoke for the Life Insurance
Company of Virginia and Lao South At
lantic Life Insurance Company.
Mr.. William II. Sands, who was loaded
with figures and facts, talked for certain
foreign insurance companies; Mr.. D. r..
Midyettc appeared for the Fidelity Mu-
tual Of Philadelphia; Mr.. Cunningham
Hall for the Underwriters Of Virginia:
Mr.. N. D. Sllls for the Sun Life, and Mr..
Robert Leo Trayor for tho London and
Liverpool and Globe
The sum and substance Of the argu-
ments advanced by the insurance people
was that the bill which has passed tho
House placed too great burden upon
thqm. They. or at least some of them.
want to get relief from local taxation,
and they want the tax upon their gross
receipts TO be reduced from 1-2 per cent.
toll per cent.
MIR. NVTCKIIAAI INQUIRIES.
Mr.. Traylor did some very plain talking
and during his remarks he told of one
company that had left Virginia and In
timated that others might go.
Mr.. Wickham asked him IL any law
could be pa ssed to prevent a person in
this State from going to New York, Bal
tlmore or some other city and buying
insurance.
Mr. Traylor Is not a lawyer by profess
sion, but he knows n good deal OF law
and he answered with q great big en-
phatic mo
The object of the question was appar-
ent Mr.. Wickham is a lawyer and a
most patriotic Virginian. He wants the
state to get taxes that might be lost u
insurance companies are driven out or
Virginia, and could still do business here
The committee simply heard arguments
and arose at 10 clock.