New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1866-07-20
GNsI EANt A..
222.

NETTING OF THE NATIONAL BOARD OF FIRE UNDER
wRIrgRs-rng RATES OF INSURANCE TO BE IN
cagAsED-A UNITED MOVEMENT AGAINST IscRN.
DIARIES.
An adjourned meeting Of the Presidents of the
leading Insurance Companies Of the country hold yester
d morning. In the he'll " the Board Of Underwriters. No.
&c Broadway for the purpose Of akng the steps
TO establish uniform system Of and commissions and
protect the cOmpanes from inccndaries by naugFnng
HE cauitl represented the meeting estimated
at spoooo. 1te following S,t1tes were TrePTee'
Maryland Virginia Pennsylvania. Olio and linoir.
The Companirs Of mis- city were rsprc.ened az follows:
Nh Cox Of the Atlantic NJ sesser OF Adrat Nr Mclean Of
Ctrns, Mf Ans OF hs linton NJ trot Of %" 'onm9a
Mr. Hope o. e Conlno. NJ Drrssr d 90 Core EIehe ~, ~
h 100 ycn NJ R'oIn he Yuer NJ Hero Of the
Gee9wh 81 Grrrsn, q The cf@9 M hsJy o. iaf sos
The iiombod W. fhr .r'i.s Mr. nle Of the ne,ee
THE Manhain. Ane'son Of ae Mean'i Mr. gr-san
ofhe Mtfopoln W. Wan~rs Of Re Se~ ~, % vi, '
public Mi Randl ofo Re'oat' M bucke1t Of the Security
NJ MARX HowAnD Il the Merchants Insurance Co.. Hart
ford was appointed Chairman. and ar j. NJ Rankin Of tho
Acr The meeting lad been called TO order Mr. Head Of
The r. me Insurance Go. reed. behalf Il tie Committee
previously appointed ne 1AoNhg ii'amDe anu res''ou''
ssi n ,1 e. r , State, ss come @ 90 ocd cs /,
% h; prevalence Of extremely low rates q premium ana nom el
two yesr not only uoueuuueTitse the ocshodes Of any
hese n''atoa ba tea,ea ne inpeacMisnf o. W. Sp r
lrty ios.cs 10y thereby affecting the interest Of mo
lneg 81 . g M. e',-d sad VIZ an SEEK po,ee.
oa .s,in'i ne cs,n 2: re P '''''''A d '"' '''"
Rs.o'ei Trt refi'ea, proposition that tho,e who fisk
~ ~ srr ieeye those they protect such
9en.lon or hslsri to which .uci capita s;po'si
. s,e,'d ,na .s ". Tao ,'s 20 phd ho companies in
ads u e the tue means o. promoting tier own
Rcsea greatly reduced 4 premium which have
ooi Of .e, a.,a,i BY Tie Insurance eoqp,o. The
United states 'An TIE pa, "' ye,,' nav, =, % % AZ
consequent ty those TO whom the bq.nes. Of the
efsl ce-olcIatou. ls aHce IA the rates o. lfenim'
They rrov de that the ASSOCIATION shall be known the
National Board Fire Underwriters Of the United States and
that company OF this country or any agency "
The purposes OF the Board we're then detned as
To establish ard manau far practicable system Of uni
2 TO s,sb'h aud maintain uniform rate Of cOmpen,On to
3 To rcpfe.. esdiarm by combining suitable
measures f The pp'nson conviction and pan'hnsn 81 eilni
tails engaged iu this nefi On; business
To dev'e effect for the protection Of our
common neIs. sna hv OF our genial gr',2e,y
ton regulates tie powers and duties Of the Executive Com
The Committee h, eon.,, Of ffeen member, Of whom
three than our shall b. Of com
pan OF the (y Of Newborn than two om companies in
ne o q a3s and nG more than iss and not rG
eco 81 Louis, cincinnati New Haven sphnshed Worses,sr
Cleveland Albany friue'oo The Committee have
.h, be day Of the Executive Committee 70 consider ~
practicable to recommend Of the by all the
:, II prominent points and in tue 90 practicable,
Of rse, a. al mailer point, ~hfLs ,ssn i' a., s.' s %
used ud careful mode OF writing policies They shall a.o
consider aud mode o: obvA,ng the evils Of loose
aud indefinite underwriting. Ugh a, the too genera pfa,.GS 81
charge, eI .aive nsnrancej hy and payment Of
osse. and tnie evil. tbs. tr p4cts OF later years has enfa
sound underwriting and tn. general good q the members Of this
Al tho member. Of thi. Borr shall forthwith and direct
Ss sss nd ss; s SSs s ;% aaS rS ia 'S y
as lar may be- and in maintaining 10 good ts ',sh
ebee OF hi, bOd material and dec drd advance the
holder "a the Interest,". q Insurance capital And every
accomplish the desired object and papo'e' q the or
ssnilaiion. 49,.
may withdraw from the Association by giving three
months notice and paving dues and assessments.
long debate took place certain provisions OF the con
sution The constitution finally presented to the meet
ing and unanimously adopted.
Mr. STRIKER Of Baltimore addressed the meeting congfa'u
lng those present the action TAKEN and assuring them
that In short time the constitution they had adopted would
bring to their Organization all the companies OF the United
and strengthen aad protect the insurance business
resolution then offered In favor Of paying agents Of
premiums than obtained dwelling houses and
baras; when the rate shoul be IS per cent Afer much
The ext resolution offered was as follows;
h,f That policies be written at an advance Of 20
Mr.. loPE President Of the Continental Insurance Com
pany said the assumption of 20 per tho resolution
important showed important appreciation Of the differ
between participating and nonpirtcpaug policies.
In respect limited number Of companies this be
regard majority Of il favor
able than speaker had anticipated The
IA discrimination Of 20 per cent would bring them the
choicest business and a the time the proportion
te would restricted enable scrip
81 divide per per the policy holders In the
opinion the speaker 10 cent the maximum OF differ
that should be claimed conceded. IL
purpose Of participating companies 10 charge
than and and should be
oeded by participating companies which would be than
just.
Other gentlemen made remarks the resolution motion
naIy mne be inserted In the resolution
instead Of 20. which adopted
The meeting having elected committee 10 nominate
manent officers. took recess I'll s D. N.
At3 m. the ard reassemblei aud the Committee pre-.
sented the following list Of permanent officers. who
unanimously elected.
Presdnt-Jme, Mclean Ciiren Insurance Company. Vice
Preidentfmoby Can Hartford Insurance Company Secretary
Frank Ballard Importers aud Traders TreaurefS ;. Parrish.
Atlantic Of Providence CommtreGeorge A. Curtis,
Boon Nalter Payne Providencei A. A. Williams Worcester,
Marx Howard Hartford. Henry Kellogg, Hartford A. y. Hastings
Hartford; b. s.eTe Neliaveni Edmund Freeman Spring.
hcdi d. A. Head. Vim. Connor r. w. Crowcn and A. J.
smith New iors J. H. Rice Albany. Mr. Pat Albany M 7.
Campbell ham0ei T. 4. trseandi y H. BENNETT Gin.
cilnsI James H. Carter. Cincnnst s. l. Awae Chicago w.
". ne ow San Fnueis.o.
NJ. DoRg Of Cacago offered tho following resolution.
which adOr tod
R,'olred Ihat this Roard recommend 10 tie Executive Committee
10 dfa hfe policy BY ali Ere companies belonging this
A''ocaon In the uos states and that said Committee consider