The New York herald., 1867-02-20

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Impcrtaut Action Of the Executive COMMITTEE
Of the National hoard Of Underwriters.
The Executive Computes Of the National Board or
Fire Underwriters held meeting at their rooms, No.
l5o Broadway yesterday for the purpose Of receiving
several rpors which to be presented to the grand
convention Of all the re insurance companies to-day.
Tha following named gentlemen prssent:-G. II.
Curtis Boston; Walter Paine, Providence; Mark How
ard Hartford; D. r. saierlee, New Haven; Z. Freeman
Sprine1sld; D. A. Hcad, William Conner, JE, f. W.
crowell A. J. Smith, r. w. Ballard New York; O. A.
Van Allen, Albany; Charles Piat Philadelphia; N. r.
Campbell, Baltimore
Mr. Heald presided, and y W. Ballard acted as sec
retary
Tho chairman Of tho Committee on Local Boards,
Rates and Commissions road lengthy report In which
the number Of local boards organized since the fora-
tion Of the association s set down 2lS In few
places the report between these boards there Is
jarrng and friction occasioned by jealouses and
suspicious Of rival agents In addition to tho organza-
ton OF the number OF local boards referred there
had been vast amount OF buiness done by sub COM
mttees sent out by this committee 10 survey and rate
districts OF country where local boards operate In larger
single town or village These sub con,mtees rs rule
the report finds TO have boon efficient than agents
or the matters referred to this committee by the Execn
tive COMMITTEES at its last meetng the former roporfs
FIs-That II has urged upon companies represented
In the National Board TO instruct their general special
and local agents to their influence to have local
boards formed In all places where no such organizations
exist Companies have promptly seconded our requests
TO acknowledge the aid il has received from Companies
in this drertion. 4fs
second-In regard to securing municipal action as TO
tho storage OF petroleum and les proiucls Circulars
have been sent TO all tho local boards, and IN many
places where mo boards existed upon this subject favor
abc responses have been received in regard 70 the mat
1aird-Thc subject OF local taxes and licenses also
referred to them, has been attended 10 in the same
mannor
Fon-th-n regard to the formation Of local board In
Chicago the committee would report that the local board
In that place. which, at your last meeting, only en-
braced forty ght companies on, OF seventy nvc doing
business there now comprsesal OF said companies in
one harmonious working body. tho beneficial effects OF
which have been demonstrated by the advance Of In
that city on an average OF about hundred and y
per cent. The effect or this Chicago movement Is not
alone valuable to the undcrwrers represented at that
place, but 10 the underwriters represented In all other
localities OF the West that arc subsidiary 70 and con-
nccted with this Western metropolitan city In business
matters How aud why it is valuable II s no, necessary
to say 20 SO intelligen, body yourcontee who
tween vlrcaso and most or tho western and North
western towns and cities, especially those Of Illinois,
The report then concludes by advising, compliance
with resolution passed by the Executive Committee In
Hartford the 9th OF August 1866 the best mode
Of making "a schedule OF common rates 10 be nscd at
po nts where local boards do not exist and by auding
TO the various boards Of underwriters OF several Of tho
large cities In the United States in comparison with
which boards that OF New York Is said 10 be far the
perior II also advises that the Executive Committee
should take steps in regard to better FIRE UNDER
writer's organization in Phadclpha, St Louis, Cincin
natl and Boston.
scale or rates which was affixed 10 the report for
classes OF houses and different kinds Of property
was the subject OF much discussion.
The CHAIRMAN called the attention Of the committee
to the storage Of petroleum oil OF bad quality In cities
and the risks incurred by such storage.
resolution offered by Mr.. Platt providing that
In cases where insurance Of more than hree-fourhs
Of the value of the property s granted increased pre-
MUM should be paid The resolution, with the report
was then referred TO the National Board. resolution
aho offered and adopted requesting the latter board
increase the Executive Committee 10 atty members
A letter from J. B. Bennett one Of the members OF
the Committee Arson, suggesting that the National
Board issue circular recommending the closer nepec
ton Of buildings that are 10 be tpsurcd, was read
report against over insurance was presented by Mr.
Howard, Chairman Of the Committee on Forms OF Policy
which II s declared that tho contract Of insurance
against loss by Are not designed to the entire
risk OF the subject insured but s intended 70 leave In
the hands Of It's owner SUFFICIENT portion Of 70 guar
his vgant interest In the OF the pro.
perty This report signed BY two out OF four men,
bon Of ths ooumitee Tho subject Of the report was
then fully discussed aftor which tho following resolu
tions offered which, with the report iusur
ance referred TO the National Board which mce,s
to-day - %
Resolved That Executive Committee do earnestly
the National board the adoption OF the three
fouhs rule that relations be restored between
the and insured that the latter will have sub
santial interest in the safety Of insured property
The meeting then adjournsd nF eIsess.-aae. \