The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-08-14
FEEDER g OlNT'R|'OlL, I g u.
SlI,J 4 I JlCES!TlE,D'5 4 ~
System of State Supervis 4! sion as as.
Administered \ y Under Ell' Laws 4
wv in Eorc / .'S. iser- l14E'Ea. y.
able = allure, Says lt
Che li'': sRepo'r u ;'s;' v:s4e 5 81
Bill EPropos II. IN:

81 /. !. q n !. /.

4 = Y tiN feSE is The report
m - "a r,omYnft q On Inpufa Il nce Laws OF
! \ sis II rica tion to- be sub
1niIt Il & atoI on IS Paul Au-
e,,st 80 81. wa i Ii MAJ de spp Bile to-day by
RaInt,3 W. Bre kerrid dge, of Omalla chairs
ma i. The Re port Sfollo wing re-
commend tions: sS5i
hat the inaurance company be
a directed to draf a1,d sto the u
next meeting ton on, q BIZ IS
that shall saf I'd inte stsg g OF
he re- comp q
fhold shall reg uire 4 de-
Il; erred dividends on Il fet pol icles TO be
biennially led cred ed sSand Il;
certified to the lde rssoS such pollces
Sss 2. The repeal !of the II social led re-
ciprocal& or retail tory tax Ia We .sf
8. The repeal 81 the valued tax
ss laws $SS5 2S
4 n The crea tlonE ii each s tate Eofs the rs
~ oft1 ce Of f1re marshal. .ss$ gaS 585$sS
$Ss s.. strtcters incor orporatio ion laws In the ~
n several states. wit th part ar fer
Sefice 4 to the cal pital H stotk and stock III
n hol lders, obliga 7 ons suranc ce COM
pahles. * u
II. .sSss Tfe enact Ell { 81 "a eral tat
E lite forbid ding tile use Snf the smailsS$
to- persons associat Ions II co partner Il
~ ships or corp ora ions y con ducting any
lind 4, OF III insurance & business II ms the
United States sRh hos are ho I licensed to IL
s5s transact such bus by the States. Y.
where such ersons. ash oclat tions, Co -S
\ partnership Or 1850 ociat ions are domi -s q
lied "a d Sl,nd der who's se5 i Tvs such 3cor--
porauons are created. Ss
I. The enactmen sas B Federal .s
sta tuteE dtns
% ofSinterstatas II tran nsac ions sinsura .S
.2sA Apper q
q II tsnsnt of Com.
|s3 |ss3 Miserable Failure ssS5
#5 On statesss Insurance Depa artment the
report sayY:
trouble 10 th az the tate ii, -,S
G surance Departments are Il s1necures.s q
hey Il are polltical prizes K nowledpe NJ
38sS Of the Insurance business gls the last
I'll thin d req ulred. !. hey are mere EcoI -
@ lectl Ion sa1encl ey offer the most iS
Ny graft I'll az exl 81 In che United states.','s$ n
5ss Althopgh "a snying that this EcharegeSapo::
plies tos all State Insurance Departments
ltheTsreportR cites the disclosures made III
New ork. VI 2 Pennsylvania and Minnesota
as specific instances q to prove It's gem
,eral correctness. %
@ State insurance 39 comm issioners d are
quoted as say Ing that they are powerless
to aocomplish the bjects for which their
Ioffices were create ! and the report adds:
q N latter Of fact, tho system
5t OF State 2supervis slon, as administered M
Fl under the laws now In force Ls ! mis-
M erabie fal lure. he honest and lntel.5i
III Ilosnt conn, lssIoner 10 s. barred N from Hi
{s effective supervision by the very laws Y
ii, he4IsS bound TO enforce, which afford
cold denSa opport tunltlesE that dishonest 4
ofrcl ale have bean qulck to grasp. ''5 5a.se
is5s The report then quotes figures to- show
that the great mass Of insurance business
Is Interstate In character and gives many
authorities to show that the popular de-
:mand Is for Federal. rat Their than State
control. .5g M Il 5sit. i9 d n