The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1905-10-03
MEETING HELD LAST NIGHT
Discussion on the Black
Sand Discoveries Of Dr.. David 7. Day
Business Men Of the City In Month
ly Conference.

city held its regular monthly session
at the rooms ~ Bond street. at 1880
o'clock last evening. there being quite
a representative group OF business men
in attendance. President j. w. welch,
presided and Secretary Higgins was in
charge Of the records:
Among the communications was the
following which win explain itself as
III Is read, and 1t is probable that the
manner in which Is was disposed Of by
President Weleh, at the instance Of the
members present. will find endorsement
throughout the city;
Newark, n. j.. Sept. ii, 1905.
Ny dear sir:-In his last annual mes
sage President Roosevelt called the at
tention Of Congress TO the necessity for
federal legislation providing for the reg
ulation and control of insurance CON-
panies transacting interstate and inter-
national business. In compliance with an
increasing demand from insurance poll
Icy holders, and others interested in the
public welfare, l introduced into the
last Congress bill TO this effect, pro-
viding that there should be established
within the bureau Of corporations
division Of insurance, and that poll
cies Of insurance were deemed to be
articles Of commerce and instrumental
ties thereof. The bill was introduced
to late TO secure final consideration, but
the demand for such q measure has be-
come even more, apparent in the mean
time, and expect to reintroduce the
same, possibly with slight notifications,
into the congress which is to meet in
December.
The bill will be introduced on behalf
of the policy holders OF all American
insurance companies, in the firm belief
that their present and future interests
demand the additional protection of
federal statute regulating insurance
transactions between the states, in al
dition. OF course, to such supervision and
regulation as constitutionally belongs to
the states from which the companies de-
rive their charters Furthermore, tina,
oy eliminating a considerable amount of
needless state supervision the following
important benefits are expected to re.
suit:
/. An increase in the security of the
policy hG.ders.
2. A decrease in the expense rate and
the cost OF Insurance.
3. A decrease in the burden of need
less taxation.
4. A decrease in the amount Of cleri-
cal labor now indispensable to meet the
requirements of some so states and ter
ritories.
5. The stamping out of fraudulent in
suranee enterprises.
Q. Adequate national protection for
American companies transacting bust
ness in foreign countries.
Since thus far interstate insurance
transacticas have not been brought with.
in the scope of congressional action, !
desire to secure an expression of views
from the interests affected by such a
measure, and |, therefore. take the lib.
erty of troubling you with few ques.
tions to which would like to have You
reply either yes or no, as the case may
be, together with any additional COM
ments of your own which you may wish
to make upon the matter.
If entirely convenient. kindly fill in
and return to me the attached blank in
the enclosed stamped envelope and ae-
cept in advance my sincere thanks fo<