New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-01-31
INSURANCE MEN FAIL TO AGREE,
FIFTY COMPANIES REFUSE TO UNITE.
TAKING MEASURES TO APrEAsE THE pIscoNTESTi

A GLOOMY OUTLOOK.
The second effort OF tho insurance men TO settio
their differences and form new Tarin AssociatloH
resulted yesterday in fresh failure. Tho Board OF
Underwriters met at their Offices, No. 10 broadway,
to receive the report OF the committee appointed
at the last meeting to obtain the written consent OF
the companies to the agreement re-estabishng tho
rates rules and regulations OF the Tariff Association.
The committee reported that It had been unable TO
secure signatures Of tho required ninety per cent
OF the fire insurance companies doing business In THIS
Metropolitan District consequently tho hopedfor
resurrection OF the Tariff Association had failed u
the whole number about one hundred and-sIxty com
panes the committee had obtained about hundred
and-ten The fifty agreeing companies are divided
as follows: Local companies, nineteen foreign Two
agency companies, twenty SIX Among tho prominent
companies refusing to sign were the Home, the Tor
mania, the Williamsburg City, tho Eagle, the Royal
the westchester the London and Lancashire the sun
and the Hamburg Bremen.
After the Board had accepted the report and dis
charged the committee a protracted discussion fol-
lowed The feeling was by no means sanguine that
any basis of settlement could be reached, and IL was
evident that the ruinous competition was ilheIy u
60 on until tho disastrous results so freely and frc
cuently predicted shall have como upon the insurance
business OF New-York
The leading spirits OF the opposition to tho revival
OF tho Tariff Association the Home and the Royal
companies The effect of tho refusal to consent
was TO keep out enough other companies to prevent
the ratification OF the agreement by tho ninety per
cent necessary. For tho purpose OF devisng plan
by which the objections OF these companies could
bo overcome resolution presented by Mr.. Eaton
OF the Liverpool, London and Globe, was adopted,
authorizing the President of tho Board TO appoint
new committee, to DO composed Of fifteen members,
to take up the whole subject and after consuta
ton with prominent insurance and capitalists
TO submit a report with recommendations for future
action February Is.
After tho adjournment OF tho Board President
Henry II. Hall said: Tho outlook IS not favorable
to a reorganization Of tho Tariff Association. A ma
jority of the companies are we'll disposed toward
a business like management of our affairs, but IL
appears to bc the determination OF certain companes
TO havo a season Of Generalization With tho aver.
age loss ratio for the coming year, 1888 viii bury
more companies than any year since 1871"
In giving his reasons for the action OF tho companies
who have refused to join in revvng the Tariff Asso-
ciatIon j. H. Washburn. vice president of the Home
Insurance Company, and former president of the AS
ISOLATION said Yesterday "Afcr the experience we
have had with the who so recently refused to 1.-Two
m TO tho rules OF tho Association, why should we
20 in with them agaln7 think that they VIII be-
In a better condition TO appreciate yhat they have
thrown away after they have passed through season
Of disaster We propose to let them walt awhile