The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-01-29


the capasy OF middemen between the compon rs ant
the puoac wegive the opinions OF corpie o. pro
minent merchants In relation 70 this new movement.
| TO THE EDITOR OF THE HERALD
from poncy OF ono Of tho ire assurances belonging
70 me New York Board OF Fire Insurance Companies,
"o nave copied The following agreement -
Ne sgnr - entered into BY this policy that the
e. ssn !, ss Who shah
Ssas sr asais q Ia e nna nGs O. tins
BY general rule among all the New York city nre
insurance companis ths brokers' or agents or clerks,
| procuring Insurance. have been declared 70 DO tho
On the 10Th OF January. 1885, seThe New York Board
| OF Fire Insurance C0mpanes' promulgated the follow
Ing rules which the reader will compare with tho above
sscr,os No abatement rebate from tho established
ssa e made o. o%sd to the assured sssra
manner employ * pay Or present any broker
s a Or % s.a as a. S
shall be allowed or pad TO any such broker
s e MG aa an ~ viii ua h
nor s.s roiess renewals from apy company agency
wen and B.. "g 81 writing snea u s :. 1 s rates
divide sn NJ wS no.
Mated as not subscribing to our rates and rules.
resolution was offered in tho ''board" to not insure
merchants other insurers who would not insure in the
coipanes belonging exclusively to this board; but that
resolution then adopted, because II deemed
inl'sabe at that tine But the foregoing hfth section
adopted IN the rst pla that II succeeded then
tho way would lie open 10 dictate sina terms to NOR
chants 1nd other insurers sa g6 git5
Now York y have subscribed to the rules Of tho Board
but third will not do they do not believe
in combnf ons,' and viii not be forced 20 place their
companies Under .,e ron rule OF the Board which Is be-
coming more ara lsore rroscrintiyc
Ofthe twothirds quite a number have withdrawn, OF
haye gwen the thirty days notice preparatory to with
afawaI; While other companies ask questions Of bro
kers agents as to wbether hoy do do not do bust
ness VIII me I'D companies Other companies
=; May .ig States, are about establishing Agencies
~ Nv York and tho monopoly anu anti
'unopoly vii be abo I equal in numbers and equal IN
capital For parts we have always preieren snhins
our siness 10 New York city companies, oit no" it
they arc combining TO dictate merchants with what
companies they shall and shall not do business we muca
prefer to insure IN first cass q ' own ,ranu y
wcaty i've per cent la our favor, while we are a. saiey
insured. F 49, w. ~, -,
Insurance conllanics should have entered into such
comb H. lion especially those With tho smaller capitals.
They viii End OF TOO late that when mere IS pa' ono
rate merchants ,ba 49,, insurers va Away. cnoose the
cpanos having tho h'G larges, capitals and surplus in
WQlIg y pace heir risks
TO TIE EDITOR OF TIE HERALD.
This Is the ape Of moment Excements succeed
ca oi.,cf in rap order The present excitement is
~ Recount o. nc Se'~' Insurance compans, banded
re lnsurahee Com Gnes endeayoring to compel the
isdcpendeh compan Of this city, who have not Joined
ths g Board the agents Of the fire insurance com
p1neg o. oier States doing business here and tho in
surapce brners class TO subscribe the advanced
rates and N.remc!y tyrannca rule Of he "Board
FADES heh are cpg nant to the age In which live,
aud to The maincss ana ndepend nee Of tho American
cit gen On The policies Of many Of the Insurance Com
pan.es printed the foowing:-
II is agreed such agreement constitutes portion OF
entered into b. this policy that the person
sey BE- l nan by this shall b deemed
be agents Of the assured and not OF this com
pany
That the insurance agents brokers tho agents
Of assured has been est.a nec as their rule by all
The insurance companies IN this city Therefore, the in
companies Of tho combination, In their eager
drive the agents and brokers to tho WALL unless
they sign reemenl with them have stultibed them
selves by assuming q dictate to merchants ana other
bus ness men property owners with waat companies
they through III ir agents shall or Shall not, do
bus ness Inc insurng community will not tolerate
ch arrogance and oil on, and tho dry goods com
mission and obbing merchants anu the importers OF
foreign goods sustaining the CITY companies the out
companies and the insurance agents and brokers
WHO have not joined the combination, by irsurins all
they possibly through the insurance agents and
brokers' In such independent conpanies humber Of
conpan es which at irst Joined tho combination, have
become Disguised, aud have Withdrawn. Other com
puncs have given notice OF ch withdrawal ana the
prospects that tbs combination WI soon be broken
It's matter OF great surprise to sasaclols men how
the presidents Of the $3.50 600 and 5000 900 companies
could have been induced to enter into trap which
would ultimately give almost Nil the best business Of
insurance into tue control Of the companies whose capt.
tails and surplus amounts TO $5o0,OOO or $75OOOO or
81, 900 00V, or S3C00,O00 These smaller companies
have overlooked the fact that there are but Few
some or tho largest companies In this city.
And they also 10 have not considered that II the
rates are unifcrm then the majority OF persons will
choose the largest and bost companies. In little while
under tho tco.abnaiion,o the $500 COO companies
wo Id bccom but little more than the rcnsurers OF the
largest companies Sa aciors bus ness men are sur
pgiscd THAI corn panos which have good presidents
aud good secretaries should be ready TO sink in the
ale OF persona self respect and esteem or that tho
directors good $500 900 companies sill long allow tho
best business diverted from them to the companies
Of largest Capitals
You may r Nv upon Il that II tho tcomblnaton sue
ceeds your insurance premiums and the premiums
o. The cutr ms ring community would sccn be doubled
Let tho le .Q aaake the danger ot this 'combna
tom adding another the heavy burdens viii h the
monopoiists of coal, Sc are binding upon
THE fNSURING PUBLIC.
As stated iu the above communications, tbcro ire a
number OF The companies that have decided that they
VIII permit the New York Board or Insurance Com
panies to upon what ierls their customers she'll
be dealt WITH and have accordl ely declined TO enter
into The comb nation Among otors is the Market Fire
Insurance ompany which has issued oiEcGar defining
the uder stand II has TAKEN