Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1915-02-17

Michigan Canal and the Illinois and
DesPiaines Rivers between Toilet and
LaSaile. and as the result % that IN
spection and after a careful inquiry
into the practicabillty OF az least an
eiEht-fOot channel between Joliet and
Utica. these gentlemen have reported.
IN writing. several schemes or pro
tects for the construction OF an eight
foot waterway between Utica and
Joliet One Of these schemes OF pro-
|. jeots. known n project 10. 3. they
have unanimously endorsed as being
entirely feasible and capable OF con-
struction within two years al a cost
OF ss.075. 10000
n II contempIates the use OF the Iii
nois River for approximately As miles
and the development and enlargement
OF about 20 miles OF the Illinois and
Michigan Canal. 4 copy OF this report
which has been endorsed by the Rivers
. and Lakes Commission OF this state
I will accompany this message. and
herewith recommend u 20 you for
careful examination.
! am convinced thzt the scheme Is
I entirely feasible: that. considering the
7 immense advantages 10 be obtained
I thersfrom. IL Is exceedingly econom-
| ical. and that u possesses the Advan-
tase OF not. In any way foTeclosing or
preventing the creating OF g deeper
waterway hereafter. II q deeper wa
7 terway can be secured In the Missis-
s!ppi River. II the science OF engi-l
ueerinE IN the future will be able 20
/ bring about greater depth in the
Mississippi River than the eight feet
[ Is.
/ be secured In the proposed channel
without in any way impairing the siL-
! cheney OF the work c-ne under project
No. .. In other v-rds. the construc-
/ ton OF this channel in the Illinois
River and the Illinois md Michigan
Canal between Utica and Joliet viii
open up within two years. u construct !
ed. a splendid waterway OF eight feet
in depth from Chicago 20 the Gulf %
Mexico. az a cost OF S3.O75. 600 or there
about. and give 20 the people OF this
/ State. as veil as those tributary %.
tho Great Lakes. a commerce 20 New /
Orleans and the Panama Canal
would further call the attention
Of the Legislature TO the fac. that. 4
n this waterway be constructed as
outlined in project No. 2. $1,000. O6b rs /
available IN the treasury OF the United
States for the dredging and deepening 1
OF the Illinois River 10 an eisht-footI I
depth Setween Utica aad the moth Of
the Illinois River where r. enters into /
the Mississippi River. Project No. g ]
has been Investigated by such infuen- /
tiai bodies as the Association OF Com
merce. Of Chicago. Joliet, LaSalle
Peoria. and other cities and towns
along the Illinois and mississippi
Rivers. and, 50 far as 7 am informed
n has their unanimous approval
therefore recommend the passage
Of a Law proviCins FOR the coLstruc-i
ton OF a channel. as recommended b.
-hese engineers. and authorizing the
issuance Of bonds not 20 exceed in
amount the sum OF $4,000 600.
Regulation Of Fire Insurance Rates
Complaints OF excessive rates in TIRE
insurance premiums and OF combina-
tons between IRE insurance mpanies
20 prevent competition in the estab-
lishment Of reasonable rates ia this
State have reached me for some time
past.
In the spring OF 1914. instructe5
the Insurance superintendent. Hon
Rufus n. Potts. 20 make an investiga-
ton into the subject, the result Of
which investigation he has embodied
In a comprehensive report. 10 which
I respectfully request your earnest at
tention.
In substance. this report declares
that there exists a widespread and
comprehensive combination among the
FIRE insurance companies doing bust
ness in the State. and their anneXes
and rating organizations and sppen-
dages. the effect OF which has been &C
afife competition and 70 establish n ,
many lines OF insurance unrecsonably
excessive rates OF premiums; suct
rates being in excess OF rates estab-
lishrd and charged in other states. al
though the state OF Illinois is favor
ably situated In reference TO IRE in
suranee risks-
The report Disclose. as the result
OF Investigation into premiums paid
and losses sustained. that. for twenty ,
years past. the insured citizens of this
state have been paying for insurance
premiums approximately twice az
much az has been paid TO the insured
for are Losses. The report also states
that the profits earned by the insur-
ance companies upon their capital
stock have been enormous. amounting
In some cases 10 over 100 per cent
The report shows that. 70 the fact !
that 10 r. impossible 10 obtain the div
lend figures of European companies.
he total profit percentage OF all COM :
oanles doing business In the State '
.znnot be calculated This can be
ione. however. for companies domi- y
:iIed in the United States. The =
Ivsrase profit percentag OF these
onpanies for 1918. exclusive Of divi- .
lends. as shown by this report. was
as per cent They paid an average y
Iividend OF 1913 per cent, so that the =
otaI annual profit for 1918 of all the II
american nre insurance companies do
ny business in Illinois. as stated in 81