312 JOURNAL OF PROCEEDINGS [Feb. 17,

cense referred to in sub-section 1, the right of Insurance Bro-
kers to place risks in the Insurance Offices of Home Compa-
nies, or of agencies of Foreign Companies having offices in
this State.

Otherwise, what beneficial object can be attained by the
change, in the issue of the license from the Comptroller him-
self, as the course now is, and its delivery to the Clerks of
the Courts, to be by them granted to the applicant, in the
place where the latter resides, to a Clerk in the Comptroller's
Office, who, under the Act of 1872, is denominated Insurance
Commissioner.

I can conceive of no possible benefit from such a change,
and therefore, I must express my fears that the purpose of
the framer of the bill was to confine the broker in placing
risks for his employers (who are the insured) to home offices
or agencies, established in this State, and thus to cripple the
commercial interests of the State, in efforts to secure contracts
of insurance in large and safe Companies, wherever the in-
sured may choose to place their contracts of insurance.

If the confining powers of this bill be granted, then the oc-
cupation of an Insurance Broker is gone, for the merchants
and others doing business in this State, and needing insur-
ance, will be compelled themselves to make contracts at the
home offices and agencies in this State, while it is well known
that there is not sufficient capital, in such Companies to jus-
tify such legislation.

An Insurance Broker is the Agent of the insured and dif-
fers from the Agent of Foreign Companies established here,
in that he protects the commercial men and manufacturers,
and especially sugar importers and refiners, by placing for
them at a small commission and best rates, the immense lines
of Insurance, which our own companies and the agencies
have not sufficient capital to take.

There are but two Marine Insurance Companies incorpora-
ted by this State, whose aggregate capital does not exceed
$335,000.00 while oftentimes one repel and cargo would cover
this entire capital and therefore it is scarcely to be supposed,
that the Legislature desires to declare that no person engaged
in commerce in this State, shall employ a broker to place his
risks in Insurance Companies, other than those Companies
which have established agencies here.

Some of the most reliable and solid Insurance Companies
in this country have no ageuccies in this State, simply be-
cause the amount of business done bere by them does not
justify it, but it cannot be the intention of the Legislature so
to embarrass trade in Baltimore city, as to prohibit our mer-
chants from availing of the security to be obtained by insur-
ing their vessels and cargoes in those stable foreign com-
panies,