The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-27
NATIONAL BOARD OF UNDERWRITERS.
Meeting Of the Executive Committee In
Chicago-aeports ON Rates and Commits
kl0ns. &c.

Meeting Of the Executive Committee In
Chicago-Reports ON Rates and Commits
si0ns, &c.
The Executive Committee of the National Board
OF Underwriters at Chicago ON Thursday received
report from the Committee on Local Boards, Rates
ana Commissions, and on Friday an ACCOMPANYING
series OF resolutions was amended and adopted a.
Resolved when undoubted evidence by the
Officers Of the Executive Committee that the rates IN any
can e SS
msnt proper committee TO revise the rates and that i'm
mediate no1ee shall be given 10 all companies 70
mot be in effect until ave days after publication and noi
Resolved That any agent OF companies belonging to the
s 81 Board who does adhere az the
the committee who shan obtain sewhs,c
represent any company OF this Board.
FORM OF AGREEMENT.
The recommendation or the Committee on Local
Boards to adopt an agreement similar to that
adopted by the Indianapolis Board was taken up:
The committee presented the following form OF
agreement to be entered into by the companies
forming the National Board:--
We, the undersigned underwriters and officers Of under
ea0 Nona Bosr Of Fire
@ s on ss % any
Lion q any noS9 RATE shall be that The assn. thu. convicted
yided that IN case where cony,tin had and question
raised a. % wngt constitutes violation 81 rates me party
peas % be hereafter by the National Executive
the sofs su psa Os made ana a'
: h sa thai SO a sna
company that Is a member of this Board.
| Accompanying the above agree nent were the fol-
lowing explanatory notes, which, by motion, were
added to and made part OF the ageeement:-
The writing OF any risk rated In the tariff OF any
| presented in the National Board by any agent OF
companies agreeing 10 this compact, or the placing
OF any such risk in the capacity OF broker by any
such agent In any company at less than the rates
fixed by such tariff, or the return Of any rebate or
commission either directly or indirectly or the pay
MI atn fnr ia M
trolling risk or risks. whether prior or subsequent
to the acceptance OF such risk or risks, shall be
| deemed violation under this pledge: and the PEN
atty provided shall not be deemed TO have been car
ried into effect unless the agent removed shall be
cut OH from all participation profits and advantage
in such agency present or remote direct or indirect.
On motion OF Mr.. Cassidy 1t was agreed that the
sgreemen. should GO into effect 80 soon as y snona
| The question recurring upon the original motion
OF the adoption OF the agreement the yeas and nays
were called and the agreement was adopted unani-
mously.
recess was then taken to allow those present an
opportunity to sign the agreement, which was done
| by oil present some fifty In number.
Mr.. Hastings then offered the following
spirit Of the resoaon JUS. passed. for which penalty has
been provided, but which penalty only applies agents,
| The resolution was adopted.
ARSON AND NCENDIARIsM.
| The special committee appointed to consider the
| and Arson reported as folows:-
Resolved That instead the present Committee
darism ana Ason committee Of twelve be formed be
New Ss Chicago
following districts 6e New RnsSaa States
S Y ~ s the ss Of Gs O 81 SsT ss n a
and South Carolina; Ohio In the states Of Ohio, Indiana
Kentucky Tennessee and the remaining Southern states
rest OF the Western and Northwestern States.
The committee also take the liberty of recommend
ing the following gentlemen 10 compose such CON-
mittee:-Hartford, Messrs. Webster, Kellogg and
Eldridge; New York, Messrs. Hastings, Rankin and
A. J. Smith; OHIO, Messrs. Bennett, W. y. Cassidy
and Searles; Chicago, Messrs. Goodman, Eoo and
Walker
The reported was accepted and adopted.
l FORM POLICIES.
The Committee on Form OF Policies reported the
following resolutions, which were adopted
Tha, our mercsne policies AZ printed and q
by commission, Delivered
ID to gsoso sI do fully the s &c q
yaneod on the Foods the ene value the goods they have
Resolved That when The party or parties insured
and delivered the Goods aud thereby their responsny 70,
required oath interest Goods Of thereon
Ts haS e Sa gidf the that
of the company in writing must be obtained before the in
sound raceal value; and we take warning to ogrseye
cities thai dangerous words pocic
which rnsl be construed into waiver of vital printc
Resolved, That the goods truly
tract q sale there was in writing no foeSias words o
others the effect a the option Of q,
warehouse has been gwen sch order to read
- dsys or words 20 Tn. eleehe insurance eoiapanies
he assured tie policy named n @ o h
goods within ard up 70 The time Of such limitation, provided
,en II The contract or order and provided thar the buyer s
not have his order and had the placed to hi
| or other account la the store.
INSURANCE STATISTICS.
| The Committee on statistics, through thcr chair
man, A. !. Hastings presented the following report
| which was accepted and adopted aud the thanks o
| the committee rendered him