New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1886-02-07
1NrERESrS OLE INSURANCE. MEN.

A PLAN OF AGREEMENT THAT CAME TO NAOuhi-
SENATOR RAINEs's BILL
For several mon this the New-fork Tam ASSOCIATION
of fire insurance companies has been endeaVormg 10
arrange basis Of agreement upon winch IL may secure
the entrance into Us cle of all the fire insurance
companies of this city and Brooklyn The business oil
the tariff association is to fix the rates at wh'ch
property may be insured. 1t has all along included
all the larger and more widely known companies IL
was comparatively easy for the association TO make
rates upon large risks which would not be placed in
the small companies anyhow, but so SOON as 1t ex-
tended its operat OBS that immense class of business
which is composed of small dwellings and shops in
the two cities lesser company not in the assoca
tim would come IN and cut under the stipulated rate
and get tho business Tie association found that IN
rating small risks it simply making business Tor
the companies outside of its ranks. The privileges OF
its membership SO valuable that most OF Tue
companies wanted to in, aud the understanding
has been that if no company refused peremptorily
they would all do 1t seemed at first as II there
were no doubt Of the success OF tie scheme OF COIL
bination The arrangement of the details was en-
trusted TO a committee composed of John '" Murray
OF the German American George NJ Coyt oil the Hart
ford and Edward Walton of the Citizens on the part
of he a.soc,, ton and t. Nicholas W. M"seroe, oil the
Williamsburg City. on the part OF the ohtSiue com
panies The committee performed great ueai "a 'o
In peffe citing the arrangements ana wheh IL nan NJ
parently got verybody satisfied one OF the outside
companies refused TO cooperate No amount oil per
suasion could change its determination. he other
small comnanies then Dean 10 back down aud u was
decided few daC ago that the ! Ian OF union wOu'd
nave "a be abandoned The companies III the ass"cia-
ton do not intend make the error again OF hxlng
rates for the other companies 10 underb Their COM
mtee has under consideration plan to take OUT ol
their schedule of ratings large class OF business
,pon which the outside companies have hitherto
sealped them and to begun free night with no iaVOrs
All insurance circles H. the city, hie fire and marine
are greatly xc ed over Senator RanesN bill lntloducd
on Thursday provides that if any State or foreign
country refuses 10 admit any company organized
uuder the general laws of 1893 or 1883, having
~ 20 600 on deposit with the Insurance Department
il shall be the duty of the Superintendent OF Insurance
TO refuse admission TO all companies Oh SncA
State or foreign country within the state limits IN
suraUce men ca that this law introduced LOT the
benefit of a single company doing an lnstalment
business They that there Is general Prr,udice
against that method of business and that TINS b II ue
sgped as a means of retaliation by the company
affected in other States BY this prejudice and that II
is passed il Siil great damage to all Glasses oi
insurance business Especially in fire and lie III,
surance il Is generally conceded that Newly )rk capital
il moi ADEQUATE for tie Tieks demanded and a. more
than half the business done in this state ia entr sed 10
companies outside of New-iork. u cy regard senator
Kaines's bill as exceedingly mi-chieyous.