davidaulloa/AmericanStories huggingface dataset:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

nrut nf laws concerning fire insurance
mas been given the attention Of the de-
rar;ment. With the great increase of
business and the necessity Of present
ing more of The dt tails of the official
supervision. the later life reports have
lacked the Interesting pages of person.
HI suggestions. perhaps unnecessary
now in the present condition of the
business.
The taxes paid by the life insurance
companies in 1874. four wears after the
law Was passed. imposing taxation,
to S3.3f1.4i. while that in
1903. 20 years later. WAS SJ4.65453 IT
has been estimated that the life insur-
ance companies of America have paid
in the last 40 years to the various
states taxes to the amount of 500. 900
600. and that at the present time the
annual charge for the privilege of en-
Sagins in the great benefcent enter
Prise amounts to $4,000, 900. Such a
tax would be onOrouS and oppressive if
these Institutions We're merely money
making enterprises. but as distin-
Suished senator from sachusetts.
Charles Sumner once pointed out upon
the floor of Congress. insurance is not
"a money making but money saving
business" and these enormous license
taxes are, therefore, direct taxes upon
thrift.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

II is to be regretted by many OF the
most economic minds of the State that
savings banks and insurance funds
wherein are garIiered up the widows
mites and the all Of thousands OF pa
tient men and toiling women, who earn
their daily bread by the sweat of their
brow should have been so extensively
exploited for the purposes of taxation
one of the elementary principles of
taxation is that it should not be made Il
needless burden 10 those who are taxed
;nd that thrift should be encouraged
rather than pclIalized. The hopc is ex-
pressed that when these great inStitu-
lions are supervised by the Federal
Government as tnry now promise to ID
in the near future. the people will be
i"Iicl ed Of this burden-indccd, as
pen these words a bill is being intro
ducrd into the United States Senate by
Il Maine boy, born in Pennington, Gov
triu2 this VCtN point of NatioiEi! Su-
perVision OF insurance communicative
us kipling says. this is another Story.
Portland, Me, Feb -, 1903.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

in the sixth annual report of this
department. attention was called to the
great importarc" of persons, IN I'll con-
Gltiops AMI circumstances of life. in
vesting 4 portion of their surplus earn
inSs III carrying a policy of insurance
III some good life company. There are
but few men VINO cannot do this. a
large part of our people spend yearly
for trilleS. AN amount that would paw
the premium on sum that would be of
great benefit to the family in case of
cedth. No institutions in this country
ale more stable today than are our life
Insurance companies. The wise man
insures his property against fire, and it
is equally wise for all 10 insure against
that great change. more sure to come
than fire"
The yearly reports of Commissioner
Eye, after giving the statistical facts
connected with his office. persistently
places before the people the dcsirIrilitv
Of life insurance, saying among other
things in his report Ia" 1871. 1.-THE his
tory of lite insu 'auce will prove that
for safety no business In the past has
ever exceeded it. Let those who are
Lot insured hasten to secure a no!icy
for as large an amount as they can
carry. in some reliable company.
Let those whose lives are now
insured hold onto their policies. feel
ing assured that no Investments they
can make will prove safer or more re-
runera,ive to their families when they
are called away than those made in
good life insurance companies"
This report for 1917 closed the first
- ca'ie OF state supervision of life i'll
surance companies. and with it the
Years Of depression that had preceded
il.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

premium. There can be 10 doubt but
this deception lras been used in thou
sands If instances, much to the disan
Monument AMI disgust OF the parties
insured.
"Another great cause OF dissatisfac-
tion is produced by agents going about
the country soliciting business, and in
their great anxiety to make money.
saving everything false IN regard to
other companies, hoping TO create dis
trust IN the minds of the PEOPLE against
all save the on" represented by them
selves IT makes no difference how
old the company. hon' larg" the assets.
how honorabiy they have always
transacted thcir busin ass, nothing good
can be said of them by these profess
Sinnal 'bummrrs.'
IF agents would attend to the bust
ness and interests Of their own COM
pancs. saying uil that they can that
is good in regard II them, and nor
spend 50 much If their time in mis-
Il presenting others the business of life
Insurance in the State would become
StiH more popular ana persons solicit
ing for the same WouIG rot be look, ID
upon with so much suspicion as many
of them are at The present time BE Il
gentleman in any business should he
The watchWord of all.
'Another custom is becoming quite
prevalent with certain class of
agents. They engage with a company
and after working for it more or less
come two or three years. engage with
arOthc". and 1t on" commence the
work of visiting their former patrons,
pretending they now repre- sent a better
company. with more liberal terms and
paying larger dividends than the for
;rer. The true secret is in their desire
to make all the money they can for
themselves.
Let the people give this class %
agents a wide berth and have nothing
to do with them. for rest assured every
such agent is n fraud. and thinks moro
vi a dollar to pnt into his own pocket
tl.an he cares for the welfare of his
Eeighbor and family.
During the last year anonymous
circulars have been put in circulation
al over the State by some of these
agents. without doubt supplied by the
comnanioS they repre- sent, dcfaming
certain other companies il competition
with themselves and accusing them of
transactions. which if true should
place the managers of said companies
i'll a felon's cell. Nothing is meancr
than an anonymous communications,
intended to stab under cover or in thu
dark.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

anyone. either girl or q mn
not care what his past has hoo, 10
,heV behaVe themselves while thev a. Il
mere they can stay; if not. thev ho e
10 leave. We have been very s,,coa 'e
al 50 f"r. There has been ahcoi,,'s
no rouShHcss or anything diy,..,, y
ana we feel very much cnco,,u'y'
~ person has led Il vicious lifa ~.
IS a chance for him or her IA r,. ''is
Eut We will tolerate absolutely '"
except the utmost respcctahiIi hing
here" 'iity-
Don't you think tie neigbhort,
around the docks ANA factories Mil.
pretty tough and isn't that ayai,,y, -,
Vcnturc?' 'ae
1t hhSnt been. You see. v.b.,,o..
TWenty-first street is. Tv9.,,t,.
IS fairly decent, ana If one con,.s '"a
IWenty-third, even late at nigh.
WIN ma II" trouble on the two hIocr-
down 70 Twcnty-first. Besides M
Afbirkic has made arraIgcman,s ,t
after ilN" O'Clock Il free omuibu, 9.
run bet tween the .hoter' ana NJ LII M
Railroad waiting room at Tu.r,.
lhird street. and women only are u,
mitted in this free bus. We tbonnt,
We might pns>ihlv have some yi;nt
trouble but Commissioner McAdoo ba,
assigned a special policeman to MAID
over our people between here 49,
TWcntT-tIird street. He hasn't ba,-
kept busy. More Of The preca1tior.
we have taken haze proved Necessary
MI. Arauc'llc. Wh"u seen ~ his bo,,
IL brooklyn. said there was nothing II
add to the already published renor,x
The experiment is still in forma,iy'
condition, but, ne added. IT has M,
our expectations. We are greatly en-.
cour"ged." There is no doubt that !,
ms "lS" ne; IN" expectations of the
Opinion.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

compiled by Franklin II. HazeItoh''
Having personal curiosity 10 iooA
into the insurance records OF Inc Std'
and discover if possible the pfllieif''
personalities responsible tof the lilcep-
ton OF the first insurance laws anu inc
contamination Of life Insurance anu
Knowing that there are many persons
who. like the writer, know NIUE ~
nothing of it's earlier operations, Is tiie
only excuse at this tine offered LOT
undertaking to exploit subject 'iie
records of whicn are not readily ac-
cessible to the general reacef-
Moreover, an institution thdt ii'''
distributed to Maine men on their lalil-
lies as beneticiari"5, IL the last 81
wears. the munificen- sum eAcee"'7
$40 100000 and which at the present
time carries 4 contingent FISK oi o\ei
SS7 600, 600 upon the lives OF Maine iie"'
certainly does, and should appear "
and interest every intelligent person III
the economic PRINCIPLE involved. Lie
insurance in word may be dehhed
aud Hkened unto the savings baHk
r,,nd and is for the gathering together.
nrotection and wise distribution or the
savings of the people. the savings BANK
beinp more particularly for the pru-
aont moor whereas life Insurance goes
a little farther. serving the rich and
poor alike.
The Protector of the Banking and In
surance Laws.
Before he hal achieved his greatest
distinction and when Colonel Joshua
Lawrence Champcrlain, 4 Bangor boy
by birth, began to attract pubic at
tention and to bring order out of chaos,
as he did at the historical battle OF
Little Round Top it was only the
beginnings of his military, civic and
literary career For early after the
close of the War of the Rebellion. 1860.
and the return of the general to his
native State, from his remarkable cX-
perience therein, he was elected Gov
ernor of Maine. And right here, early
ir the first administration he became
the protector of the Banking and In
surance Laws of Maine.
AS at the beginnings of the battle of
Little Round Top" SO in Augusta as
a statesman he found things very
much mixed and OUT of order in mat
ters concerning banking and insur-
ance. A bill was drafted by him of a
statute originating and creating the
office of Bank and Insurance Exam
iner." which was at once enacted by
the Legislature. 1t did not take the
Governor long to decide whom to place
at the head Of this department and the
appointment of his old friend and
cordial supporter in the convention
that nominated him, the Hon. Albert
w. Paine a we'll known and celebrated
lawyer of Bangor immediately fol-
lowed. Mr.. Paine is still living at the
ripe age of % and in the full vigor OF
his intellectual faculties.
Lack of Official Information.
Previous to the year 1868, the first
term of Mr. Paine. tie insurance bust
ness had been conducted practically
without any state super vision, as in
dictated by his first report. He says
In entering upon tn- duties of this
department. the examiner found an en-
tire want OF system and lack of official
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07
Thirty SEVEN YEARS. HISTORY
Of LIFE INSURANCE IN maine

the Office in 1873 His report for that
year piyes the following figures:
Number Of companies doing business
in the State. s..
Number of policies issued during the
wear. S.7..3: amounting to $5193,36'.
whole number of policies in force at
end of wear. 1871; amounting to SD
i05,257.
Amount Of premiums received for the
wear. $l.019,491.29.
Losses and claims paid, $500 ,966.Z9.
The First Tax.
prayious to the year 1874 the HE M
s,,rance business of the state was iiot
,,xad. At the session of the LeSlsla-
ture Of that year u law WAS enacted to
,.,x the premiums of all companies ad-
mittel to do business in the State at
the rate of two per cent on premiums
received after deducting claims pald.
In the first report Commissioner Nyc
issued April 18th, 1874, he refers to the
matter as follows:
1T has ever been the policy of this
State up to the present year not TO tax
insurance companies on their business.
our domestic companies have paid tax
es on their property as other corpora
tons ana individuals have done. 1t is
true that efforts have been made occa-
sionally to pass a law to tax insurance
companies but the unanimity with
which such measures have always been
defeated shows plainly the policy of
the people in regard to the matter.
There seems to be no valid reason why
the business of insurance companies
should be taxed. while that of other
corporations and individuals is exempt
II ON taxation.
Universal Need Of Life Insurance.
AS Il result of this taxation the State
leceived from the 33 life insurance
companies doing business in this State
in the year 1874 the sum of $1,47I.10.
Following IN the footsteps of mis- prcdc-
q ssor Commissioner Nye in his report
issued April l. 1876. calls attention to
the great vllue OF life insurance i'll the
following language:
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07
Commissioner Nye Condemns Methods
Employed by the Pagan Agent.

A great reproach has been cast
upon insurance. especially life. on ac-
count Of the manner in which some
agents have transacted their business.
Many letters have been received by
this department full of complaints
against agents for the deception and
fraud used by them in taking applied
tons for life insurance. Some are
accused Of promising the parties in
sured that in very short time. two or
three years at least. the dividends
would nearly CT quite, cancel tba
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

In this report ne d2vOtes many pages
to the subject of life insurance. pro-
ducing many arguments in favor of it
and discriminating against cooper
alive insurance. He continues, Life
insurance is not a tax, but an invest
ment. When Il mans situation in life
is such that n death he may leave de-
pendent persons. parents, wife or chill
dren. to suffer for that support which
IN life he gave them. it can hardly be
regarded otherwise than his most re
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

i}r has not succeeded i'll Going more III
this fed Of philanthropy to convince
the whole people Of th"i' duty in carry
ing out its principles; anG opportuni-
ties
The course pUrsu"d by both InSur-
ancc commissioners Paine and Nye. in
presenting the matter OF life Insurance
i'll its most favorlbl" light. and offering
suggestions and opinions III regard to
the business evidently had great effect
upon the legislature Of the time. as well
as upon the insurilIg pubic.
Insurance Commissioners CT Maine.
For the 81 wears that the life insur-
ance business in Maine has been under
State supervision. put eight men hnve
held the position of insurance commits
sionrr. as follows:
1%6S-!H13. Albert ". Paine. Bangor.
1N13-1S1S Joshua Nyc. IAil field
1879. William Philbric.< SkoWhcstn.
1>Hol>S.. Joo,pi l., Peaks. Dover.
1SS3. Or1mandal Smith, I.itchlicld.
1874. Frank +. nv" Fairfield.
1S>J-lo9., Joseph o. Smith. Skowhe-
gan.
1899. Stephen W. Carr. Bowtlcinham.
Prominent Residents OF Maine
COW living, who carried licenses to So
Ii, il life insurance in the seventies are
i:X-Shcli III i. :. Webb. BridSton; Gem
erai john y. Anderson. Gray; EX-Scna-
tor Harrison Hume CherrYiield; Att"r-
l'ey :. II. McAlpne. Portland: Colonel
Fred -t;Wo"d. Niut.rpurt; Attorney A.
+. IId.cy, KcNnehunk; J. Is. Drake.
Path; Albert y. Austin, Buckfield: Ma
inr Henry \. Shorty. BridGton; En-
Representative Charles :. Pearl Fan
r"r; frtvlnmd Howe. Norway: EN-
Senator George L. MaconIbcr. Angus
Ia; EH-!;ei'rcscutatiVc II. y. Fair
banks. Bangor: Eank Cashier Frank
Nelson, Calais; Insurance Commissions
or stephen ~. c;tlr. BoWdoiuham; EN-
Governor Srldrn ConunY. Augusta;
Hon. r. r. Richards. camden: William
+. Ferna!d. Uld Orchard
Women in Life Insurance.
Many have been lei lo believe that
only untll recent years have women en-
gagged in the pursuit of insurance. Ii
- TIA" that Il greater effort has been
rut forward by the Various companies
10 enlist women il the work. ana that
u larger number have ls Il consequence
become inter, st..d than III any other
l'crioi in the history of insurance in
Maine. We tina by the last directory
| issued iy commissioner Carr no less
than Al women licensed to do business
AS ii matter of record. however. woman
IN
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

established for purpose of revenue but
rather as a protection OF the people.
Our people gladly welcome 10 her
borders the responsible companies OF
other states, as she does, without the
imposition of taxes of any kind Or
odious fees The uniform promptness
and Iiberality with which companies
now working here have met their obli-
cations have certainly merited and
CORES ponding success
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

kH"Wh, nothing more would be Wani-
l"g To convince the people of the vital
linpoi lance II life insurance. In re-
view Of the la3ors for the past six
ye;tis in this department., the insurance
commissioner has only 20 regret that
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

the State. The number of policies
written for that year was 1856.
to S6S06S4O.
Whole number of policies in force at
end IF year, 1896. amounting to S21. .
510.1S4
Amount of premiums received. $685.
1904
Mr.. Paine was succeeded by Hon
Joshua Nye of Fairfield, who assumed
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

lgious duty 20 provide against the con-
tinGency Of his death by a policy N
some sound respol sible Well tried
company, to help, AZ Least, make up
for his loss when removed. To help
the party to select his company I'M
derstandngly IS one Of the objects for
which the Department of Insurance
has been cstablishcd.'
Licenses.
The law Of 1870 was that every for
eign tout Of the Statc) company doing
business should have Il license and pay
Il fee Of $50 for it-"Which fee is in full
of all charges to be paid by the COM
pauy fol the year. no taxes. nor any
fees fOr filing statement or other ser
vice being exactcd. except agents Ii
cenSeS.'' The fee for each agents Ii
ccnsr 1t that time was 81, and for each
brokers' license S.. At present the fee
tor each agents license has been in
creased to 81, ana brokers' license to
$40
AT the close Of the year 1872, after
five Years of efficient service, during
which time he had prepared ana seen
placed upon the statute Book numcr-
Gus laws regulating the insurance bust
ness of the State. being substantially
all and the same that now exist on the
subject in Maine. Mr.. Paine retired
from the office of insurance commits
sioncr to resume the practice of law.
Through his executive and administra-
tive ability had come order ana effoc-
tiven"sS where before WAS chaos and
disregard of law. His labor for the
five years had resulted in incalculable.
good for the State.
l,e;pee, ~ 1869
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07
A Field of Philanthropy.

During the six years of the adj
r2inistration Of Commissioner Nye. the
losses and claims paid. Oh the account
Of life insurance in Maine amount to
the large sum of 81. 49, 213S This fact
alone should a thousand times Offset
the objections to life insurance. Could
a true history of tn, haEpinses caused
by the distribution of this money be
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

education will have the effect in the
future to Very much improve the per
sonnet Of all life agency forces
throughout the State.
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

Information Of a reliable character Of
any kind pertaining to the subject;
what Insurance companies existed in
the State. what their condition or even
their locality ro record in any office of
the state government shows. What
foreign or out Of state companies We're
engaged in business in this State and
to what eXtclt and what their names
and responsibilities. We're also matters
of fact equally unknown. The sCanty
provisions of four laws. which impose
the duty Of making returns or reports
to the Secretary Of State. or otherwise
have been am almost entirely dead let
ter upon the Statute Book. Under this
condition of Things the examiner of
course compelled to commence de
novo.''
Mr.. Paine. the "Father" of Maine In
surance Laws.
Mr.. Paine exhibited great interest in
the two departments of which he was
the executive head and during his
administration of five years prepared
the drafts of many laws that We're en-
bodied in the Statutes of later years
that are practically those which govern
the insurance business in the state
today.
While in his reports for 1868 and 1869
as Bank and Insurance Examiner he
advocated the taxation of the premi-
ums received by the out o. State COM
panies. yet in his later report of 1870
as insurance commissioner. he wisely
falls in line with the voice of the peo-
pie as expressed through their repre-
sentatives, that they do not want their
savings taxed and says: IN giving
construction to the very numerous pro-
VISIONS of the new law regard has
been had particularly to what was the
Will of the legislature in. enacting it.
The distinct expression of the last two
sessions not to tax foreign companies
ooing business here has been regarded
as decisive of that question and also
as indicated that the system was not
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07

rt Tine being Tretnont street, I:o ~ - if ~ =
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07
Deposits are Placed on Interest tho
First Of Every Month.
Augusta Trust Go.


Opera House Block. Augusta, Me-.
Trustees-J MANCHESTER HAlNEs
President
George z. Macomber W. II Gannelt.
Edwin c. Burleigh. +. S. Lyman.
II. NJ Heath, Chas. II White,
F. w. kinsman, Byron Boyd
Arthur w Whitney. W. Scott Hill
George N. Lawrence, Nathan Weston.
l.. j. Crooker. Ira II Randall,
Fl. Z. Bowditch. G. T. Stevens,
Thcs. j Lynch John r. Gould.
Frank Z. Smith,
Deposits received subject to check and
INTEREST PAID on THE DAILY BALANCES.
In Savings Department.. interest paid
QUARTERLY at the rate of 4 per cent
per annum on deposits remaining
THREE MONTHS. or more interest
computed from the first to the 18th Of
each month.
All Deposits Subject to Check snd
Strictly Continental.
Savings Deposits legally exempt
from taxes.
Burglar and Fireproof Safe pspost
Boxes to Let.
FRANK T. SMITH. Trcarurer
HIRAM J.. PISTON, Assistant rrefs.
Banking hours . to daily: except sat
lrday: Saturday. to LEO
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07
Business of 1863.

Al the end of his first years admin
iNtration in lH6N. there We're 80 life in
suranCe companies doing business in
Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-03-07
Remarka BILE Growth.

the
At the lUt below: