Evening star., 1925-05-21

great deal of trade has been lost also
since the close of the war, due to
the development of local industries
| In Argentina and Brazil"
Hits Insurance Legislation.
Insurance companies have become
| targets of ill-considered legislation
III. A. Smith, president of the Nation
al Fire Insurance Co. of Hartford
said at the insurance group luncheon
at the New Willard.
There have been AZ state legisla
lures in session this year" he said
insurance bills were intI oduced in
these legislatures. Many of the bills
enacted will affect the service or cost
TO customers. Insurance protects the
economic processes which make for
our commercial and industrial welfare.
Today we find more than one-third of
our industrial wealth protected
against loss by fire and our life values
insured to an amount equivalent to
one years income for our Nation.
This is not a chance event. 1t is
the reaction of the American public to
the untiring efforts of private initia-
tive to distribute losses in an equitable
way. Since policy holders are affected
by adverse legislation, it is perfectly
proper that they take an active in
tereSt in it,"
Through the efforts OF the insurance
section of the national chamber the
automobile thief faces hard times, Mr..
Smith said Twenty-Five sta es now
have adopted the recommendation to
require certification of auto titles.
The insurance business also was dis
cussed by James A. Beha, New York
State superintendent of insurance:
George w. Wells, insurance commits
sloner for Minnesota. and Stacey W.
W ade, insurance commissioner for
North Carolina.
Agriculture as Barometer.
Former Secretary of Agriculture f.
T. Meredith told the domestic distribu-
ton group at its luncheon confer
ence that the condition of agriculture
furnishes a good barometer of bust
ness conditions.
Our farms" he said, have pro-
duced since 1886 an average of $l4 per
acre per year. Whenever the farm
ers have received a dollar or two
above the average business failures
in the ensuing II or IS months have
been greatly reduced, while whenever
the farmer has received an amount be-
~" tle average business failures have
mounted.
Many business concerns do not
take into consideration the fact that
80 per cent of the people of the United
states live in the country, 10 per cent
IN towns of $500 and the other 60
per cent in towns of 9, 500 and over. In
towns from 10, 900 to % 900, so per cent
of the retail business is done with
farmers. In towns of 5000 to 10000.
o6 per cent of the total volume is
farm sales.
Manufacturers of food products
sometimes take it for granted that
a farmer grows practically all his
food. Replies TO a questionnaire sent
to $4,000 farmers scattered through
the North Central States show that
80 per cent buy oranges, 80 per cent
canned corn, 45 per cent canned peas
30 per cent canned pineapple No
doubt other articles share in this
distribution"
Questions of distribution were dis
cussed also by former Representative
Sidney Anderson, president of the
MillerS National Foundation: Theo-
dore r. Whitmarsh of New York and
Harry Dwight Smith of Cleveland.
The average man believes in an
American merchant marine, A. J.
Brosseau of New York, president of
Mack Trucks, Inc, told the transpor-
tation section, but the fact remains
that the business is not attractive
enough to induce capital or labor
10 engage IN it." The recommending
of "a sound and practical permanent
policy" is the objective of four COM
mittees of the Chamber of Commerce.