The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-05-01
TEXAS INSURANCE.

GALVESTON, April 23.-AC the sec
ond days session of the state board of
fire underwriters, held in this city to-
day, the three-fourths loss clause was
recommended to be inserted in all
policies hereafter issued upon wooden
buildings and their contents in cities
and towns without an efficient water
supply. The clause adopted by the
board is as follows: cit is agreed
and understood to be a condition
of this insurance that in
case Of any loss or
damage under this policy, this COM
pany shall be liable only for three
tourths of said loss, not exceeding the
sum herein insured, the other one
fourth to be borne by the assured;
and in case of other insurance hereon,
this company to be liable only for it's
pro rata of the three-fourths of such
loss OF damage"
The election of officers resulted in
the choice of N. o. Lauve, of Austin,
as president, and Mr.. Bonner, of Tyler,
vice president.
A resolution was adopted restrict
ing the compensation to be paid to
agents at Is per cent, and providing
that any agent who demands or re-
ceives greater compensation than Is
per cent. shall forfeit all companies
represented by him in this association.
GALVESTON, April, 24.-The third
days session of the state board of fire
underwriters was held to-day. Ac-
zion was taken on the report of The
committee on cotton, which recon-
mended the adoption by the associa-
ton of standard for cotton ware
houses, such as will justify
an annual rate Of pot more than ~
per cent. The request, which was
unanimously adopted, specified rules
which must be observed in the con-
struction of warehouses, water re-
Quirements, storage, congresses, closed
warehouses, cotton not stored. closed
iron warehouses, etc. On floating
policy cotton is subject to the average
clause. The fioater form is confined
to Galveston, and the rate of premium
the highest for any locality embraced
in the terms of the policy: 1t is pro-
vided that no general tloater shall be
less than five per cent.
GALVESTON, April 25.-The final
ses on of the state board of fire I'M
de " riters was held to-day, at which
the rates on all classes of risks were
fixed, and classiicatlons decided on.
On floating policies for cotton shippers
five per cent was adopted as the high
est rate of any locality embraced in
the terms of the policy. On the clas-
Sifcation of towns the committee to
whom the matter was referred made
their report, which they submitted,
together with letter in which they
call attention that on the question
of rats their efforts have been
directed more to an equalization
Of existing rates than the
making of any material general adj
vance. They consider the introduce
ton of the three-fourth clause a very
considerable increase, and assert that
it will serve to lessen the number of
fires which otherwise might occur.
The classification report being incom-
pleIc, was not given to the press, and
by subsequent resolution was referred
to the executive committee, with
power to act on communications from
of San Antonio, Fort |
Worth, Dallas and Gainesville. The
reported that in their opin-
ion the rules and rates. as RECON-
should be adopted by the |
association. Committees were appoint |
ID to apply schedule of rates to presses
here, and to rate presses in Houston.
A resolution was adopted making
In additional charge of five cents on
Zach additional story above the third
n all cities and towns in the state. to
III of which this sum will be added as
! basis of rates. Charges for one
tory buildings are to be made as fol-
ows: standard buildings, having an
Irea of 5000 square feet, for. each
additional two Thousand feet. or frac-
ion thereof, five cents additional for
'uiIding and contents. distinctions
Vere given to the serre-
airy to issue circrlar
o all local boards requesting the
doption of the value, loss, average
reworks, vacancy. and coal oil stove
lauses, as provided in state tariff. a
esolution defining fire wall was also
dopted. 1t was further resolved that
be rules and rates not already acted
pom, as reported by the committee
q rates, be referred to the executive {
with power to act. Reso- !
ltio7s of thanks were adopted, and ]
he board adjourned sine die.