The Connecticut labor news., 1921-05-20

"Alr. President, we were in the late war but a few months when our govern mcnt found 1t necessary to COnhsCate all Ot the German-OWncd, yes, even the Ger nlan-controllcd insurance companies. We found, MT. President, that many of the agents and other employees of these Ger nlan-OWned or German-COntrOlled inSrr- anCc companies, under the guise of insl1r- anCe agents, insurance adjusters. insur- anCe inspectors were enabled to go into our workshops, our factories and yes, even into our home"
 We had, but few secrets which they were not privileged to inspect They were entitled to inspect our workshops ana the books Ot our manufacturers" "
 l hcSe facts are well known True thev Happened and were carried out by Ger mans. That does not say but what the same conditions may be found true of those representing insurance companies either owned or controlled by other for e1gn interests"
 "Why not be Americans in reality ? Why not patronize Americans? The rates of these companies are set by the Insurance commissioner, the losses are specified by law. Is 1t possible that Amer 1cans are unable to carry out this business successfully. 1 don't believe that any 1 American will admit such a possibility for one moment. It IS not my intention, MT. | President, to attack any special country | or the people of any one country. 1 am | taVOrlng but one country and that coun- | try IS AmeriCa.'
 Tt was called to my attention while in | Worcester the other day that one of the largest foreign casualty companies had been and was being daily called upon to cancel large portion of their business how long might 1t be before we and some Ot even the strongest of these companies unable to pay their losses? Is 1t not time that we at least protected our workers and our employers from any such possi- bllity by providing them with an insur- anCe carrier which they would know was one hundred per cent American and also one hundred per cent solvent at all times
 It IS said that we are sending out of our country millions of dollars yearly to | the owners of these foreign controlled in- surance companies. Is 1t possible that we Americans looked up to by all of the world at the present time, find 1t neces- | Sary to send millions of our money for the enrichment of foreigners and in re- l turn receive no service for this money ? l Why, Mir President you would be as founded if you really looked into the American companies. By that I mean those insurance companies which are at least American in that they are incorpor- ated under the laws of some one of our | States.
 II have taken some figures from the 1 last report of the insurance commissioner which will prove interesting to every member of this body.
 Tn order not to take up too much time l will give you some figures on four Eng fish companies and three English con- 1 trolled American Companies. The Eng l fish companies to which 1 refer are the Employers Liability of London; the Lon- don Guarantee X Accident of London the Ocean Accident and Guarantee of London and the Guarantee Company of North America of Montreal. The so- called American companies to which refer are the Royal Indemnity of New York; the Globe Indemnity of New York and the London X Lancashire h. demnity Company of America"
 MT President, have heard the state ments made that foreign owned or for eign controlled insurance companies are receiving more than six hundred millions Of dollars of American money each year and I have also heard that this sum ot six hundreds of millions of American dollars is being sent across the seas as 8 profit on the business of these foreign owned or foreign controlled insurance companies. | am not concerned with the | truth of eIthet statement. l believe 1T obtaining my facts from official dOcu- ments. 1 have before me some figures taken from the latest printed report ot the Insurance Commissioner of thi: State. Bear in mind that these figures are those of but a few companies.