New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-02-01
AGITATION AMONG ASSOCIATED UNDER
WRITER'S

WITHDRAWAL OF THE AMERICAN FIRE INSURANCE
COMPANY FROM THE BOARD OF UNDERWRITERS
THE LATE MEETING IN PHILADELPHIA.
The announcement was made on Saturday
that the American Fire Company had wiki
drawn had given notice OF withdrawal, from the
Board Underwriters. Officials interested In the
matter made the following statements concerning 1t
Yesterday: An officer OF the American Fire Insurance
Company said that it impossible for the Company 70
remain longer Ia the Board and do any business
The Board had established certain rules aud
regulations, which those loyal to the Board
had obseryed but there were numb r
OF companies both inside and outside OF the Board that
the schedule OF rates, and thus taking
away the business Of the American. The Board either
did not care or was pOwerless to discipline the offend
ing companies and the better plan for the American
Company to adopt, In the opinion OF those most con-
cerned was withdraw from such an institution which
trammeed only those who would act fairly, and gave
free scope to those who violated even honorable agree
mens. He only spoke for the American Fire Insurance
Company and lett other companies TO SPEAK IOr them
selves.
president OF an Insurance company and member Of
the Board OF Fire Underwriters. said that he was not
surprised that the American Fire Insurance Company
should 60 OF the Board and felt certain that others
would soon follow, leaving the Board merely IA shadow
OF an institution. lie had known several cases where
companies, claiming TO belong 10 TIE ioard hiu VIC
lated the schedule OF rates, thus making 1t very dcu
for those companies, who were deslrOus OF DenR ONa
TO their agreement to get any business He had seen
policies which, under the schedule, should nave Deen
charged 81 80 per 500, written up for per cent and
this by representatives VINO cat III the BOard ana h
agreed to the rates With such action as TINS, II was
Impossible for companies exist and keep to the rates
He believed that, after the meeting OF the Executive
Committee Monday, 1t would 10 found that a large
R,ard would give notice of withdrawal This would
virtually abolish the Board OF MISUNDERSTANDING
with regard to definite rates-and al COMPANIES would
be on the some Dasi, 20 Tar a. hkG eue , oE S @
tn AIN "A
number totally dsregdrding 1t. The case OF the
Metropolitan Insurance Company was one In point
When that Company dlsregarded the rules or tue Board
a motion was made 10 expel Hs representative Inc
Company sued out an injunction restraining the Board
from eXpelling them, ana the argued before
Judge Van Brunt short time ago, but a decision has
not yet been rendered This case has been going on
for year. aud the dissatisfaction has been all that
time growing broader ana deeper
composed many various elements, 1t wonder
that come would disagree with the majority ana when
ones be allowed to withdraw than that any attempt
should be made TO keep them He ana not thlnk the
would have effect the main body. The
Board was working very harmonously, except IN thls
ton schedule OF too complicated and
gigantic nature to be thrust on one side because
mere unit of a large body chose to disagree. He be
ieyed the whole matter would adjust itself In short
time.
The regular meeting OF the Executive Committee OF
the National Board OF Underwriters, which mad usually
been held in this city, has just been held IN Phllade
been present il was ascertained that the meeting
very harmonious, and that three new members had
been admitted. IL generally understood at the
meeting that all the large and sound companies through
the country had held al0Of from taking risks In
Chicago, not yet having sufficient confidence In the
promises OF the officials OF that city, or IN the efforts
made thus far by them for tue prevention OF disastrous
lie thought that the prospects for more uniform
system Of fire Insurance very good Tao work Of
harmOnizing large body OF men as the entire III
OF the United states was no hight one
believed that the work in better condition
to-day than IL had been before While In Pailadel
pha he had had opportunities OF observing the IRE de-
partment OF that city, aud, by COMPARISON he became
even better pleased with tue perfect system OF the CITY
OF New York than ever before.