The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-09-19
Entertainment Features.

Before the recess hour Colonel JOS
eph Button announced that the local
committee on arrangements had Sc
cured q steamer, which would leave
the city Friday morning at o'clock
landing at the Jamestown Exposition
pier. The secretary of the Virginia
Historical Association will point out
points of interest on the way, and thei
engineer will tell about the greatness
of the James. Colonel Button urged
all of the members and visiting news
paper men to make the trip. at 1890
o'clock this afternoon an old-fashioned
Virginia lunch will be served at the
Jefferson, and this afternoon the con
vention will be entertained on a car
riage drive around the city.
surety President Speaks.
At the afternoon session Mr.. John r.
Bland, president of the United States
Fidelity and Guaranty Company, Of
of Risks to he Assumed by surety
Companies" He said he would present
| facts logically, although 1T was not
| easy to combat seemingly popular
movement even though it be misdi-
rected and inspired by false principles.
4 Mr.. Bland explained the inequalities of
| public bonds, dealing with the various
| legal and technical phases of the
question. He cited the case of the
trustees of the estate of Mrs. Mary
. I
pany is surety. The estate amounts
TO nearly one million dollars. consist
Ling almost entirely of personal prop
erty. The trustees are respectively a
member or Congress. worth individual
!, " 100000: the president of the larg-
est bank in Concord. and a third party
I of good repute, although not of large
Il means.
4 1t is scarcely conceivable. he says,
Il that any loss could occur under this
bond. Mr.. Bland described different
surety bonds required In all lines OF
l Commissioner Prew,tt. of Kentucky,
! asked Mr.. Bland number OF CUES
lions bearing on limitatioh being
anh,pns 'o would euI It aft Affect the smaller
4 companies. Mr. Bland didn't think
that there We're enough surety com
panies to go on bonds IL the lim!ta-
tions We're or We're not enforced;
on the Standard Oil Company" said
Mr. Bland. II do not believe there are
enough surety companies in the United
States to supply that bond"
Address by s. II. Wolfe.
Fidelity and Surety Reserves" was
4 the subject of an address by Mr.. s. II.
Wolfe OF New York. In closing. Mr..
Wolfe said:
j Il desire TO refer to matter equally
. ! Important dts tAtt EtStINSS Oh LGaf--S :
I pred policies, viz, the necessity fog
a closer approximation of the cost OF
\ settling reported losses. Some of the
4 companies have been fooling them
selves by Understanding this liabil-
ity, and l believe it to be the duty of
supervising departments to insist upon
Il the maintenance of an adequate figure
for this purpose. Such action should
of the. citizens of the various States,
but also as an act of justice to those
companies who are doing their duty
lin this particular. To charge an in
adequate premium and then make up
the deficiency by using receipts from
policNholders of later Years is not only
unjust, but is on a. parwith the Dor.
rowing Of money for the purpose of
Ipaying a stockholders dividend
MAY we not therefore, hope that
the selfish desire for MISREPRESENTATION
fwin lead to the adoption OF adequate
rates. and this action, In turn, will en-
able supervising officials to derive
some proper nleesUre CT liability? When
that time comes 1t may be found that
a crude charge of fifty per cent. of the
premium is too high or too low but
the way will be clearly blazea for a
proper determination of this important
Mr.. f. II. Hardison. of Massachusetts
reported for the committee on reserve
other, than life. giving long and de-
tailed l,.d account Of meetings held in New
+ it'iN soso YIN .Su5 y S'SlolS dH'
recommendations. The report was
adopted
For Uniform Taxuti0n.
With the preamble stricken out. thu
resolution offered by COMMISSIONS
Prewitt LOOKING to more uniform
System of insurance taxation, reported
by Superintendent of Insurance v0rys
Iof Ohio. was accepted. Under tn,
terms OF this resolution, n comml.te.
Iof seven VIII be appointed to stud,
the question comparing the Insurance
tax with that of other corporations