El Paso herald. (El Paso, Tex.) 1901-1931, 1912-06-04

there should be insurance or other
adequate protection. He thought it
strange that the senators, nearly all
of whom, he said, doubtless carry in
surance on their property, should take
different view where the affairs Of
the state are concerned
Cunniff said il is question of loss
and risk He favored the sinking fund
proposed by the Davis amendment.
Roberts said he was surprised at the
stand taken by Hughes. He declared
here is an opportunity to save the
state a large amount OF money and ne
thought IL should be taken advantage
of. He said there is a thing to cOnsid-
er and that is IA insuring state build
ings 1t must be evident that either the
insurance company or the state gets
the worst Of il and ne was certain il
has not been the insurance companies.
Against Insuring.
c. B. Wood said he looked over some
of the insured buildings and in re-
ferring TO the state university he said
he was surprised that some of these
buildings had not been burned. He
was sure the state would gain largely
if they were. He said all the depart
menIs of the state have been badly
manag ed, and further referred to the
fact that the United tSateS govern
ment, most of the states, and nearly
all the large railroad companies, carry
no insurance.
Senator Worsley spoke energetically
for the bill de said the payment of IN
surance premiums by the state Is d
waste Of money. He said $4,000 at com
pound interest would soon produce
million dollars and declared that if
the state would lay by that amount il
could before great while have a fund
sufficient to erect great deal better
buildings than it now owns.
Senator Hubbeu called the turn on
WOrsley and said if the senator's
HsH a
$4,000. He had not known there were
such attractive investments as the
Pima county member mentioned.
Senator Hubbel continued with a
logical and concise statement of the
case. He said ii is simply a matter of
figures, and he told the senators they
could tell exactly the amount they
would save by footing up the amount
paid in premiums for the past 20 years
and then compare il with the amount
collected in fire losses. He said he be-
neved il would be found the state had
paid out a great deal more than il had
received. The bill was ordered to take
its regular course.
Foreign Insurance affairs.
Then the foreign Insurance bill was
taken up This bill, in its original
form, provided for four percent tax
on the gross premium receipts Of all
foreign life insurance companies.
Some Of the members manifested
considerable animosity toward these
companies. Others were inclined to
take a more reasonable view. Some in
structive information was given by
senator Sims. who read from a list OF
the states the amount OF taxes levied
by each. He showed that the highest
tax levied by any is three percent the
lowest one percent, and the average
one and quarters percent. an
amendment was offered to the bill low
ering the rate from four to three per-
cent.
Senator Hubbeu contributed a speech
that was far and away the most sensi-
bic Of the long debate. He said we are
not all angels and if some Of the in
surance companies and other corpora
tons had once in a while sidestepped
some Of their taxes, il was nothing
no doubt, had done. Il guess 1 would
have to plead guilty myself said the
senator Now let's be honest and
candid about this thing. / have always
stood for making the corporations pay
their Just proportion of taxes, but
appeal 10 you to do nothing unreasOn-
able He said he believed Arizona
did not want to make the kind of rec
ord some Of the senators proposed He Z
said if he were compelled to 20 back Z
erty he might find il profitable TO turn
it over TO senator WOrSley TO be used
in his industrial pursuits program.
Hubben said the truth is that prop l
If insurance companies invest their /
proceeds in a given locality they have |
to pay taxes .u that locality and he |
did not see how anybody could find |
fault with THAI p-ocee ding.
sLer'S GOuge I'm More.
Pace said ne was in favor of the high |
rate. Let us dig some more out of (
them" he said. He also expressed the }
opinion that if all the insurance com J
panIes were driven out Of Arizona the ]
state would manage to worry along /
without difficulty. The digging" prop ,
ositiOn seemed TO appeal to a good |
many Of the senators.
Senator Sims, however, said he I
thought an unreasonable rate should ]
not be adopted. He said thar after all I
il must be evident IL viii eventually /
have to be paid by the policyhOlders. !
Others took the same view.
If il were left to me they could leave I
the state tomorrow" declared senator /
Pace Il would just as soon they would 4
leave as not"
C. B. Wood said the consumer al ]
ways pays the bills. He was in favor |
a al