Rensselaer Semi-Weekly Republican, Volume 39, Number 102, Rensselaer, Jasper County, 30 August 1907 — DOING GOOD WORK [ARTICLE]

DOING GOOD WORK

State Auditor's Office Putting the Insurance Business on a Sound Basis. PRAISE FROM AN AUTHORITY Commlaaloner of Insurance tn Colorado Writes to Auditor Blllheimer Complimenting Him on Which Haa Attended His Forceful and Tactful Administration of the Difficult and Complicated Insurance Supervisory Matters In This Btate An Example., for Othef Officiate in Similar Positions in Other States. [Special Correspondence.] Indianapolis, Ind., Aug. 28. —The efforts of Auditor of State Blllheimer to place the life insurance business on a better basis in Indiana are meeting with such success that they are at' tractlng attention in other parts of the country. E. E." Rlttenhouse, commissioner of insurance in Colorado, has written the following letter to Auditor Blllheimer: "My Dear Sir —I have observed with much pleasure the success which has met your efforts to eliminate the irregular methods of sollclUpg insurance lnjyour state. I believe that you have accomplished more than any other state official in this direction, and that you are entitled to more credit than any of them, because you have won out without an anti-discrim-ination law. The forceful and tactful manner In which you have handled the difficult and complicated Insurance supervisory matters in your state shows what the right man In the right place can do. even if he has no law to back him. I feel that you have set an excellent example for other officials in similar positions In other states, and If they would follow It they wbuid do the Insurance public invaluable service. I have some Idea of the obstacles you have encountered.” Praise Not Unmerited. Mr. Rlttenhouse Is familiar with Blllhelmer’s work, as he made an examination of some Indiana companies here. He Is In authority to speak about it.

What he says ought to convince the public that practical Insurance reform Is being accomplished In Indiana in spite of the unfortunate disagreement over Insurance legislation in the recent legislature. Radical insurance reform was sought then as the only means of protecting the interests of the policy holders. The radicals would not accept a compromise, and the insurance bills were defeated. In this connection It may not te amiss to mention that the Democratic members of the legislature paid no attention to proposed insurance reforms except at times when they thought they could play politics a little and embarrass the Republicans. State Receives Fortune. Insurance taxes paid to the stata from companies organised outside the state for the first six months of thla year make a total almost as great as they did for the first half of 1906, despite several heavy losses that make the taxes smaller. Cyrus W. Neal, deputy Insurance commissioner, gives out the total for the first six months at $178,763.45, an amount $3,363.60 less than the first six months of 1906. As a matter of fact all of these payments have not been made. The actual amount paid in to the state treasurer is now $172,750.45, but this amount will be increased by the payment later of the taxer of six other companies, whose taxes have been figured, but not paid. Mr. Neal was a little surprised at the showing made this half year. Comparatively small business and heavy losses by both the fire and life companies would cut down the taxes to the state, he thought. The taxes from these companies outside the state are based on the net premium receipts over losses paid out and either a small business or heavy losses would reduce this net.. Mr. Neal's estimate about a month ago was that the taxes would not be over $160,000. Under the system of accounting in vogue during the days when the Democrats had control of gjij state, but little attention was paid to Insurance fees and taxes, except by some officials who grew rich out of them. The state now receives enough Income from Insurance taxes alone to more than pay the salary of all Its employes.