Watertown weekly leader. [volume] (Watertown, Jefferson County, Wis.) 1906-1908, 1907-06-28
SEVEN BILLS PASSED
LIFE INSURANCE MEASURES IN
DORsED BY ASSEMBLY.
FIGHT HAS BEEN BITTER
Large Companies Have Eersixtentiy
Fought Proposed Laws-Eair-
child Bill Goes Through
Aids Schools for Blind.

insurance bills which the principal In
surance companies of the country
have been opposing. The first OF the
bills passed was one providing for the
valuation of policies according to the
expense charges assumed, the table
of mortality adopted and the rate Of
interest assumed.
The second was one prescribing the
form of life insurance policies. The
committees recommendation that the
schedule relating to expense charge,
mortality charge and deposit, and the
provision relating to the assignment
of interest by wife was rejected and
both features retained on advice OF
Speaker Ekern. The bill was then
passed 1t provides that no policy
shall be issued which has not been
approved by the state insurance COM
missioner. The policy holder Is to
have the privilege of surrender on a
years notice and recover the full
amount of deposit The policy Ia to
contain a schedule showing the pro-
portion of the premium that is de-
deposit After the second policy year
the holder shall be entitled to borrow
on the policy at least 80 per cent. OF
the deposit. In case Of default In pre-
MUM or interest the policy can not be
terminated until all of the deposit
has been consumed. A wife can not
assign her interest except In writing,
attested by two witnesses.
Must Hold Down Expenses.
The third bin provides that COM
pany shall not devote more than one
third of the first years net premium
to expenses. The fourth bill prohibits
the giving of bonuses, prizes, re-
wards, or other extra compensation
to agents.
The sixth bill requires companies
to ascertain and apportion deferred
dividend surplus funds and report
thereon to the policy holders.
The seventh bill requires an an
nual apportionment and distribution
o: surplus funds among the partici-
pating policies.
FairchiId Bill Passed.
In the assembly the Fairchild bill
making an appropriation to help pay
for a site for the new state normal
as to increase the appropriation from
$50, 900 to 100000 and then concurred
in.
The assembly, by vote OF so to %,
killed the Keppel bill ousting Lieut.
Gov. Connor from the office Of chair
man of the Republican state central
committee and prohibiting any Office
holder or candidate for Office from be-
ing a member of a political commit
tee.
The Burns resolution for a constitu-
tiOnal amendment to do away with
the decennial state census and base
the apportionment of the state into
senate and assembly districts on the
federal census was concurred In by
vote of 62 to 5. The resolution must
be passed by the next legislature be-
fore it can be submitted to the people
for approval.
The Elver resolution for consti-
the five per cent. limitation on munich
pal Indebtedness shall not apply to in
debtedness for the purchase of public
utilities was killed by a vote OF A
to 20.
Aid for Blind Pupils.
The assembly concurred in the sen
ate amendment to the bill granting
every village and city state aid in the
sum Of $3.50 a year for each pupil at
tending local school for the blind.
The assembly passed the bill
strengthening the inheritance tax law
and transferring the authority for its
enforcement from the secretary Of
state to the state tax commission.
The bill providing for a pension of
$50 a month for former Gov. Will
liam r. Taylor, who Is spending his
declining days in the Gisholt Home
for the Aged near Cottage Grove, was
killed by the assembly. The assembly
also killed the bill providing a salary
of 81 500 a year for the chief deputy
game warden.
Consider Excise Bills.
The assembly spent considerable
time in considering two excise bills
One, which was killed after spirited
discussion, provides for increasing the
minimum license for saloons In towns
from 500 to 5000 and In cities from
5000 to 5000, and permitted the cleo
tors to decide If the tax should be
raised to $3.50 or $500 in towns and
to $500 or $500 in cities. This was
known as the Barker bill and was
killed by a vote of 81 to a.
The Froemming bill was passed re-
lating to the number of signers that
shall be necessary to petition to
cause the calling Of special election
on the question of high or low license.
Under the present law the signatures
of only II electors are necessary to
call special election on the license
question. The bill passed increases
the number to ten per cent. Of the
electors of the district affected.
Frear Accepts Hawaii Governorship.
Honolulu, June 27-Chief Justice
W. F. Frear has cabled President
Roosevelt his acceptance OF the gov
ornorcbip IF Hawaiian torritorv hoo;r