The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-03-08

there was a good reason wliyi1
a president OF d lie insurance COM
pany should receive ten times as much I
as he did when a. member OF the Pres
dents Cabinet. Mr.. White said he
did not, and Mr.. Page agreed With
him. He further said that there are
railroad presidents and many others
who get too much. This remark was
greeted with applause
Tie member from Rockbridge was
very earnest and emphatic, and his
voice sounded through the hall with
mich ilnpressivcness.
The argument, he said. that revenues
have got to come made his blood boil.
had sduandered the surplus
which the state once had, and now ~ |
Is proposed to tax the little earnings
and savings OF those who are trying !
to provide for their families. was
dangerous, he said. to tax-these COM
.panies BECAUSE they estimate theirI
premiums on the probabilities Of the |
future, one or which is the amount OF
taxation. He said he would like to
have law passed taxing insurance
companies only on their real estate
and personal property and not on
their premium receipts. Probably as
much money. he said. is invested in
Virginia by these concerns as goes out
OF the state.
The hour Of 2 o'clock arrived. and
tho House rose until 4.
Money spent In state.
Resuhling his remarks at the be-
ginning OF the afternoon session., Mr..
White showed that the life insurance
rt,srrt ,tvtf
more than they take out. This comes
in death losses, dividend loans, invest
merts. etc. They have invested in this
state more than $TO,o00,00O. He con-
tended that Virginia should abolish
local taxation before 1t lays its heavy
hand in high taxes on gross receipts.
FIe hoped the House would not be car
ried away by the committee report. He
thought the Treasury might better re-
main empty than to levy an unjust
| tax.
Mr.. Bowman OF Roanoke, read a
statement as to the taxes in other
States. which he showed to be greater
than in Virginia in nearly every In
stance. Mr.. White asked him how
much the local taxes We're in these
States, but Mr.. Bowman did not have
these figures. Hc said that tho COM
panies pay their presidents large
salaries. and he read a statement OIL
these. II the bill passes. he argued,
Virginia will still be among the
lowest States In taxing insurance con-
Germs.
Gigantic Trust.
Mr.. Williams, OF Giles, characterized
the Southern Tariff Association, w llich
now. he believed. has another name.
as the most gigantic trust In the
n n NJ 1,o will IN 10
1t out of the State II possible. He
told OF abuses committed by 1t. He
wanted a. higher rate for fire COM
fDanies than that named in the bill.
He was informed that the big cor-
Sporations. such as fi,e United States
Leather Company and the Standard Oil
Company, are carrying their own risks.
while the poor man is in the power
of the association. If the small COM
citation to Cypress the people. he said,
they were coming to the House with
poor grace in asking for relief.
The thinner amendment. reducing
the tax on life companies to the pres
ent rate of 1 per cent. was lost.
Mr.. Cooke offered an amendment
making the tax on life concerns IA
per cent. instead OF 1 4-10. Itwas also
lost. 80 to Al.
The committee amendment was
adopted.
The West and wingo amendments
| were defeated.
AIR. Adams wanted a per cent. rate,
| but lost.
The bill was then passed by vote
of SO to 16.
4 Express Taxation.
Next came the express tax bill. II
tho Senate the rate had been fixed
at $3.50 per mile. The House Finance
Committee had reduced 1t to IS. Mr.
IOliver proposed an amendment max
ing 1t So. He said that even corpora
tons have rights. and that the cx-
press business was a legitimate one.
Tho So rate, he said. would be 90 per
cent OF the net revenue.
Mr.. Johnston, OF Montgomery, said
that such a tax is the only way to
reach this kind OF business. The ex-
press companies pay sos total direct
tax to Virginia, and they must be
taxed on some other basis. They have
no capital here, but they make $4,000
a year. The Committee on Finance
had considered this matter carefully.
ut had reduced the Senate rate $3.50.
This business should bear its just pros
portion of the burdens of taxation. The
| shippers, he said. are at the mercy
| of the express companies.
The So tax was carried by vote
of 40 to Al. A roll call was forced,
and resulted: Ayes, 45; noes. 45. Il.
was therefore lost on the tie vote.
After the failure OF the amendment
the bill was passed without oppost-
ton.
The House then passed a bill pro-
viding for remedy in the assessment
of lands on which there arc senior
and junior grants, both owned BY thu
same person. ~.
Making Autos Fay.
Automobiles formed the next topic.
The committee added anamendment to
4 the Senate bill taxing garages from
i SIS to 500, with additional fees for
machines exceeding FIVE.
Mr.. White offered an amendment
changing the speed limit in the coun-
A try from twenty to htteen miles an
hour. He said that it Is stated that
Y autoists break the law anyhow. This
was. true, they run forty miles oil
4 hour, but detection was easier with
! the lower rate. Mr.. Throckmortor
s|5joined In this amendment. butt was
/ lost by IS to 40.