The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-11-14
MOVE MADE FOR STATE
TO CARRY ITS OWN
FIRE INSURANCE
Important Meeting Held At Capitol OF
Representatives of All State
Institutions.
LARGE PROFIT MADE ON
CARRYING STATES HAZARD
In Twenty Years Sum Paid Out On
Premiums Was Nearly sf99, 600
While Amount Collected On Losses
Was $685. 900.

If the recommendations of a meet
Ing held In the governors ofTice yes
terday are adopted by the general as
sembly the state will soon be carrying
Its own fire insurance.
Representatives of all of the state
Institutions were present at the meeting
which was presided over by Governor
stuart and 1t appeared to be the pre-
vailing sentiment that protection from
loss by fire has been costing the state
too much money.
During the past twenty years the
state has disbrrsed in premiums on
insurance policies the sum of $685.
S7Oo3. IT has collected in fire losses
on such institutions as have suffered
! therefrom the sum OF S55,010.95.
or course a large number of the
institutions now owned by the state
are of recent construction and had
they been constructed and covered by
insurance the entire time the amount
paid out on premiums would be con-
siderably larger than the sum indicat-
ed.
To Provide sinking Fund.
II is the theory that the state would
set aside a. sum as sinking fund
C4u"i w tiC duApout II rs HOW QStoA-
ing to the payment of insurance pre-
miums In order that there shall be
fund on which the state may draw
for the purpose of providing for its
fire losses. The governor and the In
surance commissioner. Coiorel Joseph
Button, were named committee to
have a bill drawn TO carry out the
proposed new policy.
1t Is pointed out by the friends OF
the movement that facilities for com.
batting fire have been largely improv-
ed and that it Is reasona BILE to anti
cipate that losses by FIRE the next
twenty years will at least be no larger
than that OF the past twenty.
Principal Fire Losses.
The principal fire losses the past
twenty years have been the destruc-
ton of the rotunda OF the University
of Virginia; the recent burning of the
chemical laboratory at the university
the fire at Virginia Polytechnic fnsti-
tuition and that at the Eastern State
hospital None OF the other fires were
important.
1t is the policy of the state to build
as permanently and with as substan-
tial construction as possible, which
policy. in connection with the fact
that ffrs RISKS IRE wtrtefy scattered IS
believed TO be quite sure to hold down
fire losses.
Fire insurance agents. IL Ia under
stood, will enter very warm protests,
and will show that the state has been
particularly fortunate in escaping seri-
Gus losses. 1t viii be pointed out that
some of the states buildings are ex-
ceedingIy subject to fire loss. and the
matter will doubtless be well threshed
ont before the several committees OF
the legislature which. in one wav or
another. have to do with the handling
OF the business and the funds of the
state institutions.
Those At Meeting.
Those who attended the meeting
yesterday were Governor Stuart; COM
missioner OF Insurance Joseph But
ing the University ofWirginta: Eha-les
l. Wade. of the Virginia Polytechnic
institute: w Clyde Locker. Richmond.
representing the state Normal board.
which has charge of all the normal
shooois conducted by the state; Gen.
era1 Charles J. Anderson who. with
Colonel Button, represented the Vir-
ginia Military institute; w. c. l.
Taliferro. of Hampton, representing
the Eastern state hospital; William
A. Bowles and James Fl. Lindsey, re-
presenting the Virginia school for the
Deaf and Blind; Samuel Steiner. Rich
mond. representing the Virginia
school for the Colored Deaf and
Blind: Judge Asa D. Watkins. repre-
senting the Virginia Normal and Agri-
cultural institute. located at Peters
burg; J. n. Wilkinson. chairman Of
the penitentiary board and A. J.
Huff. of Washington county. and DR..
Fl. L. Stephenson, representing the
sfata hospifafs