FOREIGN COMPANIES. Foreign fire-insurance companies, chiefly British and German, write a considerable amount of business in the United States. Many of the States have laws requiring a deposit by foreign companies of other States be fore licensing them to do business in their borders. Several of the ,foreign companies have found it advantageous to do the whole or a part of their American business through subsidiary American companies. Sometimes such a company is di rectly established by the foreign company; some times the foreign company buys up an already established American company. More than fifty foreign companies are operating in the United States, and probably write nearly, or quite, a quarter of the entire fire business of the country. Though these companies, in common with Ameri can companies, have suffered from the unusually heavy fire losses of the last few years, for the ten years from 1S92 to 1901, inclusive, they sent to their home offices some $20,000,000 more than they received from them. The excess amounted to $4,367.000 in 1896, fell to $131,000 in 1900, and in 1901 was replaced by a net importation of $486,000. Partly in consequence of the unfavor
able results of the business of the last few years. and partly on account of the tendency in some States to discriminate against the foreign com panies, many of these companies show a disposi tion to contract rather than to expand their American business. Only two States—Connecti cut and Kansas—actually discriminate bet ween foreign companies and companies of other States. In Kansas the tax is 4 per cent, on the gross premiums of the former, and 2 per cent. on simi lar premiums of the latter; Connecticut imposes a tax of 2 per cent. on gross premiums of foreign companies, and has for other-State American companies the reciprocal provision. But while floe actual legislative discrimination against the foreign companies is not very widespread or very severe, the possibility of such legislation. and Ilse somewhat common advocacy of it, tend to drive the eompanies away. Five such companies withdrew from the United States, either wholly nr in part, in 1901.