AFTERNOON SESSION.
On motion of Mr. King, the claim of J. Taylor was taken up and referred to the Committee on Claims.
The Speaker announced the consideration of the unfinished special order, viz: the committee bill [H. R. 350] to organize insurance companies and to regulate the business of insurance in the State of Indiana, there being a majority and minority report thereon. The majority report is voluminous as to its proposed amendments, placing the business of insurance and life insurance, foreign or domestic, stock or mutual, more directly under the control of the Auditor and Treasurer of State, dispensing with the Insurance Commissioner, and striking out taxation on foreign companies, etc. The report of the minority is signed by Mr. Givan, and Mr. Barrett, and it proposes amendments in sections 2, 4, 8, 20,27, 28, 29, (substituted) 38, 36. 28, 46, (strikes out 47, 48, 52 and 58, and substitutes sections 60, 61 and 62)but without more materially changing the original bill, which is understood to have been copied, from the New York insurance laws.
Mr. Wilson, of Ripley, continued the debate, supporting the report of the majority of the Committee on Insurance, and he was followed by Mr. Lenfesty on the same side (for which debate see App.), when on motion of Mr. Walker, the minority report was laid on the table, by yeas 45, nays 39.
The question recurring on the concurrence in the report of the majority of the Committee on Insurance curtailing the power of the Insurance Commissioner, by dispensing with the official name, and giving the oversight of Insurance to the Auditor of State, and leaving foreign Insurance Companies without the provision for their taxation;Mr. Shirley submitted and ineffectual motion to lay it on the table - the vote thereon resulting - yeas 40, nays 46.
The question again recurring on concurrence.
Mr. Kimball now submitted his amendment to the bill, [H. R. 350] by way of substitute for the bill and amendments reported by the majority of the committee on insurance. It strikes out, and inserts the matter of the original committee bill so modified as to make the Auditor of State Commissioner of Insurance ex officio, and taxing foreign Insurance Companies on their premiums, less the amount of losses paid in the State, etc. He supported his substitute in a speech at length, when he had concluded.
Mr. Woodard moved ineffectually to lay Mr.Kimball's substitute on the table - yeas, 29; nays, 59.
Mr. Walker proposed to lay the substitute offered by Mr. Kimball and the bill [H. R. 350], with the reported amendments from the majority of the Committee on Insurance, on the table, and that one hundred copies of each be printed; and after a brief debate thereon, in which Messrs. Kimball, Lenfesty,and Rumsey participated, it was rejected without a division.
Mr. Kimball's substitute for the bill as reported by the majority was then adopted - yeas, 57; nays, 31.
The report, as thus amended, was then adopted on a division - affirmative, 56; negative, not reported.
Mr. Walker moved that the further consideration of the subject be postponed, and that it be made the special order for to-morrow at two o'clock P. M., but on the motion of Mr. Baker, the motion was modified and the order was made for ten o'clock to-morrow morning.
The Speaker laid before the House the annual report of the Trustees of the Wabash and Erie Canal, with accompanying documents.
On motion of Mr. Hatch the papers were laid on the table, and it was ordered that 500 copies thereof be printed.
Mr. North presented a preamble and resolution for the appointment of a special committee of five for the investigation of certain charges claimed to have been embodied in Mr. Brett's remarks in debate this day, but the explanations which followed taking away all occasion for the resolution, on motion of Mr. Johnson it was laid on the table.
The House then adjourned.
