Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1919-03-08
OPPOSE FUND
CONTINUED from Page One

April !, with about $1,000 premiums.
George z. Macomber Of Augusta
appeared for himself, no, for any
COMPANY He opposed the whole
idea. 1t is a continuing proposition,
year after year and would tie up
a large amount Of money from the
peoples pockets. II the next Legs
lature should repeal Il. we'd have
s25, 900 which wouldn't replace the
dome on this building. With all the
meritorious calls for appropriations,
this seems folly, with 8 to i chance
that the fund will never be called
for. It's like SNOWMAN, rolling up
larger and larger. Il would cost the
State more than it would ever pay
for insurance. II is an entering
wedge for such legislation and soon
the farmers and others will be com
ing fog state insurance. In every
state where tried. il has been fan
ure. The State is more than able 10
insure its widely scattered property
than the companies are. l think the
bill a poor panacea for the eViis lold
here and a most dangerous measure.
John E. Nelson of Augusta spoke
for the Association Of Fire Insurance
agents.
He didn't believe the people APP
preciated TIE splendid work the IN
surance companies IN the line OF pro
lection rad ard are doing IN Maln".
Dope ndable insurance is the bui"ari,
Of business, its great hacker, ana
take it away and business would be
paraylzed. 1t is a science, along
broad lines and the wider the 'er-
| rtory Of business the closer the aV-
erage Of cost. This is taken from the
entire country. no state could stahu
| al! the lossess. Small amounts q
| insurance is taken by many compa'
| MES. From this wide experience they
figure the averages for all. in pre-
miums and rates. The old line COM
! panies actually lost money in Name
in the PAST 10 years But by this DILL
| you would take away part Of Their
business. You can't afford to do I,
| for You need and want them doing
| business with you in this State.
This law would put the State into
the insurance business. When would
| the Governor and Council say thar
EcteNllOl tuuu lldG ISdCIieO SUM
! sufficient 10 protect the State 1t
! has had no experience. How would
! they work out law Of averages On
| its IL institutions when the great
corporations can't on their own prop
erty but all carry old line insurance?
! Why shall we interfere with ire
! insurance business and undertake a
Socialistic gamble? Other states
have tried it and made failures. His
| tory shows that it would start hum
! bly,. soon take on more employees,
mostly political. who would take
more interest in politics than in bus
, mess and then comes failure.
! A long discussion ensued between
| Messrs MacombeT. Fay, Nelson and
others. for and "@a!nst the measure.
with the opponents largely in the
majority as 10 number.
! Frank Y. Alden Of Waterville brief
ly stated his objections TO the bill
and Mr. Nelson asked the insurance
men present and opposed to arise and
! give their names. The following did
so: G. Z. Macomber Of Augusta; F.
w. Alden OF Waterville; Leon o. Teb-
belts of Waterville, 1s companies:
| Henry Allen Of Waterville. one: s
F. Jones Of Pittsield. ) companies:
Rep. Miller Of Auburn 80 companies;
G. +. Howard Of Dover. in business
1873 to 1914: J. W. Mcclure of Ban
gor, companies: l. f. Lang Of Au-
gusta. representing himself; /. l..
! Thayer Of Waterville, "a companies;
G.. II. Macomber and F.. G. CARL oe
Augusta. Of the Macomber, FFarr &
Written Co; A. l.. Long Of Port
land, is companies; J. II. Mcclure of
Bangor. company and it's State
agents; J. g. Freel Of Waterville.
Is companies; c. X. Matthews IF
! Waterville, companies. Mr. Barker
Of Portland. companies; l.. p. How
ard Of Augusta. l company.
Senator Butler Of Franklin said he
was wholly opposed to any such bus
mess by the State and thought that
far better conducted by private cap
ital. Insure the State property cr
not as you will. but do not create any
funds Of this nature.
Rep. Pike OF Eastport appeared for
the resolve to create State penal
institution commission. He deploc-
ed the conditions lathe State prise Il
and said this bill was for the purpose
Of arriving at some plan for better