OCR Text |
Show Tho lusuruiico Couveutiou, New York, 21. The convention of insurance commissioners and superintendents superin-tendents was resumed to-day. Com-miseioner Com-miseioner Smith, of Kentucky, made a partial report from the committee on legislation, but was interrupted in the middle of it by a resolution that its further reading be discontinued, ns the commissioners hud already heard it, and on motion the report was recommended re-commended to a committee. Commissioner Howe then oflcrcd the following resolution, which was laid on the table by a unanimous vote: Resolved, aa tho sense of this convention, con-vention, that the present practise of life and fire insurance companies in loauing money on stock of other life and fire insurance companies aa collateral, col-lateral, is erroneous, and Bhould be abandoned. The following resolution, offered by Commissioner Rhodes, was also laid on the table: fiesolccd, that the enactment of stringent building laws, for the pro tection of our cities and large towns, is a matter of the first importance, and that is the duty of the heads of the insurance departments to urge upon the legislators of their respective states the necessity for immediate action ac-tion in this direction. The various committees were then instructed to meet this afternoon, and the convention adjourned until noon to-morrow. |