The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-04-10
LOCAL INSURANCE INTERESTS ARE
ALARMED OVER BILL IN LEGISLATURE

ting in the state of Illinois. About
seventy-fVe A insurance companies
now doing business in Cairo will be
affected by the measure and, in the
opinion of Cairo local agents, they
will all be out of business should The
bill become a law.
Although more far reaching in its
effect upon insurance companies, all
otter interests combined for the pur-
pose of establishing rates are equally
affected. Railroad companies would
be prevented from making uniform
rates on transportation and freight
as would telegraph and parallel tele-
phone lines, while such combinations
as the Fruit Growers Association,
which has proved of such benefit to
Southern Illinois, would be clearly il
legal, as is indicated by the second
part OF the fourth provision of the
bin
The law will work an equal hard
ship on both the Illinois state and
foreign corporation. the former for
feiting its charter upon violation Of
any of the provisions of the act and
the latter being denied the right OF
transact ng business within the state.
The various methods of evading such
a law such as the issue of trust GER
tificates, etc, is carefully blocked and
any contract or agreement entered in
to in violation of any section of the
act in addition TO calling for the pen
ally prescribed is of itself rendered
absolutely void"
Another important feature grants
the right of suit to any person or
persons injured in a business way
by any person or corporation by rea-
son of anything forbidden or declared
10 be unlawful in the act and to re-
cover two fold the damages susi aimed
and the costs of suit as WELL
Every corporation is obliged to file
an affidavit setting forth the fac that
it is not a member of or party TO any
pool, trust, agreement. cOmbinGt ON
or confederation, Failure to file this
affidavit each year between the first
day of October and nrst day of De
cember calls for a penalty of $4,000
and there is the usual fee of $l0O
which the Secretary Of State is au-
thorized to oolIect for receiving and
fling the affidavit.
The penalty for violating the pro
posed law is not less than $500 for
the first ofense, increasing TO not
less than $4,000 for the third and 3d.,
900 for every subsequent violation.
Provision is made for a trial by jury
1t is the fifth provision of the
that gives insurance men
such general concern. 1t is stated
that if this clause in the bill becomes
a law the state would suffer a repeti-
{ on of the chaotic condition of affairs
that exists in Arkansas today. Being
unable o operate along the only lines
of business and conservatism the in
surance companies would be forced
% withdraw from the state. VITA SUI
fic ent fire insurance unobtainable all
markets would be closed 20 the mer-
chant on a credit basis. Banks and
building and loan assoc ations would
be Obliged to call loans not protected
by insurance and the merchant would
he able to carry a stock of goods on
ly al his own risk so far as fire loss
is concerned. Building would be re-
stricted 10 the man who could afford |
to lose his investment, which means |
that f. would largely cease. mas |
much as all insurance would termin
ate with expiring policies ipcendiar
SIN would increase and a most un- |
settled condition Of business would |
result.
The unfortunate phase in the SIT /
nation is IN the fact that in many |
.aspecis. tae bill is an excellent one |
md in the interest of public pol cy. /
rhe danger Of trusts and combina-
ions is well known. the error being
n including the Insurance boards un-
Ter the head of trusts or combina-
ions seeking to create or carry out
.estrictions in trade.
II is understood that Representa-
i've Charles NJ. Gauni. of Mound city,
this. the Fiftieth Dis
ret. voted for the bill. Mr. GaunI
: an insurance man and in defense
# his vote has stated that he did no.
,now the bill contained his provis-
on. state Senator Otis II. Burnett,
# Marion. has written letter 20 par
les in the city saying tlat, in hs
,pintcn. the bill is a good one and
hat he expects to vote for IL.
Local insurance men affected by
ne bin include practically every
rencv in the city. The Cairo board
5 made up of the firms of H. ii. Can
lee & Son. c. r. Stuart & Son. T. }.
PURCELL ". F. Greaney. Edward l.
hilbert. John T. Bdown Insurance
agency and Conrad Alba. Miss Emma
!. Riley is the stamping secretary
ater and all rates emanate from her
,nice. All boards. rating bureaus and
.ther methods Of making insurance
.ates hv combination would cease
insurance men claim that an exchange
# mast experience is the only man
.er in which an equitable tariff can
or r-a tl.t an. ,fhpr met nod