The New York herald., 1868-02-20
Total. -. S1l3.6il,4lS
$e9 s2S,ssO


After ueciar,ug that nothing iurtncr from the pur
poses of the Board Than the formation and maintenance
Of monopoly tho CO nm,tiee say:
Our true course ID OF moderation tho advance Of
Rates. Great AMI sound juo nsnt should DO
exercised 10 bgi1gns hat sdvaacs u reasonably
profitable point and no higher AMI In so don, TO al
just tne rates ot premium To the different Classes OF
risks the history zach cl,ss may demand To do
tns have need Of The c3mbiped experience OF tndi
companies aud the pact Cal sk,I and Judgment
OF those engaged day administration Of tne bus.
pesS. Let ie1i innate purposes OF tns ORGANIZATION
faithluy nd aud tns business VI nre msur
apce viii be clesa cd In tone and cter placed
up,n n,ellisou, 10 rs, froa winch II will SO 5nro
prom able results 10 |. e ~hllc II Commands The re-
spo and conn snce Of the puoc.
Tae report OF ie committee Was accep ed
Tne Committee on Local Boards, Rates and Commis.
sions reported, through is cAairmAn, Mr. T. ".
Crowel, of The Pn@nx Insurance. Company, OF New
YORK. taat the total Of places "a d since the
organization OF the National oarn Ia ,<34 vi which
- a been rated 81 Co It's annnal meeting one
siuce. The ,ari!f, ot ali he.e PAGES le 10 the
Office the Nauoua Executive Conmitee i31 Broad
way in tins city. ne conni tee fecomm sod, IN orler
- remedy the ununitormy no" exislng the selection
OF one ra,ing ooard carefully seie,ed. Sucn corps
would carry vita II inn renee that commtiees COM
posed employees Of INSURANCE companies could not
Tue fct that they wcrs dlstoD gectsd with
any insurance. ccm.a,y, that they we,e a5una in a
natoua capacity, tue pad agents Of t.s Ma.
uonai Boari would si,s them an inLoeucs aud CON
MANI or them moral suppof, tnat no ratilg cou-
mltee that W. la 9 rem out haa thus far secured
These should 10 CO ned With peaar5 powers TO
make arin organize local boiris and all ist
diesnces subjec vi course. TO tne APPROVAL or reec
National B,ari We recommend TO yoa the con iicrs-
matter, and that yod give sucu stlsa
mon rs ~ yon, aas neI. aa s -, % ns ,,s Sa
tons loar. special assessment, disconnected from
the mt he'd to dcray the general expenses OF
Board, sliouli be made upon such compaes AZ
doing general busuess proportonet 10 the amount oi
| such general b,sln ss done Tue coGmtseo conc.u
their report ~ follOss:-
In, sp. of uc nj arisn holding high ca. niva In
| our country a, ths pr seat tins. Ia addition to this
sprcrs o. moral hazard there are other elements or
L saiu lrl
b"siusss. more eciay tae mercantile. IL is that Of
aud caroessle - and Il abou ads where me
2at,n o business Is the grea est. Lee rvely
company II i-t Of .osse, .he past and
then determine wne,ner the large majority o; tLsm are
causoI by y, ysici ur IN ru hazards Those ra which
in ord nary tines among tls last 10 burn
| the irst, and ,ne risks wiero tns pyscai uazard
| is the greatest are now the las. fhe lat three
years have shown starving statutes as TO losses bv
| ir an increase about one hunerd pr cent eacn
| year over tnat o' tho preceding que were physlc-l
haztrds coui such results or thing approx
maiing To thsn. aDd no uderwfiiug ssil nr IN eii-
gence say de of disss;er under si siltc OF
affairs unsss ra h measures are aooped To tolen all
he different phase3 of tue troubles tht are nan sing
alb ois,ue.s WHAT the re.nei o. 10 oe ap-
pl,d2 That qlesti must o. answerel by other COM
| mtccs We VIII briefly siats our conclusion tnat
hasy aaus meat losses. hasy pa ment OF same.
over iu,ura 20 and 10 grani. of IN led privileges
f1r other INSURANCE nist b. stopp IL and the Isaaing
companies our coun'ry nut take tue initiative ~
stoppng them, all that Wa caa DO IN the mater OF
rates and sustain ng local boards viii 90 o little avail
| Tue report pteI
Mr. Walter Pa,ae. OF the Mercbants' Insurance CON-
L
Committee, reporc that the rec ipt. of the past wear
amounted 70 s12oji 50; expenses Sl2 400 g. Balance
on hand Si64 05 olts,andins dcbts ABOUT $500. The
committee rcconmspd that in order TO most me OK
penses OF tho Organization s25 be assessed each
500 900 capital Il the companies rerresen,cd The
report accepted.
Mr. Charles PIatt, VI tho Nor American Insurance
Company, OF Philadelphia, chairman OF the Coinniitoe
on Co operation OF Companies reported tbat sn:o the
last annual meeting the number ii conuan es Ia favor
Of CO operation had incr asr Tue comm tee conceded
with the Vows exDresssd the Ctm alt co on Local
ards and ncnded that all Insurance agents be
instructed that unless hey con ormed 20 tue rates es
| tehisied BY this Board IN ,akiDg risks the agency
should be taken out o. their hands The report Of TIE
commute accepted
the rfeasursrs report. bcing detailed statement OF
the gross OF sud res and pts reported
by Finance Connttee presented aud accepted.
The Secretary real a stenont from tho Conm'itcS
| on Inccuia arIs,n ami ArsvB, Of winch Mr.. Isaac
| Sweetzer OF the Wa hneiun Insurance. Company ol
| Boston Is chairman tho effect that tie cummltes
had seut 10 the several conpanies cope' %; rsak
FORM to b, flied up tho secretaries OF sucb conp.
nie- gving statistics a. 10 the amouDts ~ ossel which
cond be traced 70 Hcendsrsn; but that few OF these
| had been rsturuci MED az requested 0ne cntnnany
arbntcd ninety pcr Of in losses to tas
/ Tho port sas acc ,ptci
| Mr. j. B. Bennett, Of the Astna Insurance conpanv o
Cinc,nnat from tnc ommluec On Iiisiltinn aud ias
alton r-rpf ed plan remedy the urisr IL rs at on
| nov esis'iug agaius. tho insurance interest. The
commit oe recomDeni tho passage of sou9rai llv oy
Congress Tho bill now btore ths Ho1 % Repre-
providing Tor tho creation o national burcat
OF Insurance meets ibe view Of the conmoe and theJ