The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-11-09
Ths New Insurance Rates.

The Southeastern Tariff Association is
getting to be about as burdensome 10 the
business men a d property holders of this
city as le jute bag ging combination is 70
the cotton growers, and it begins TO look
as if they would have to adopt some such
heroic measure to get out of its clutches as
the cotton-growers have adopted TO get out
of the power Of the jute bagging combina-
ton.
An increase of quarter of per cent. in
insurance rates is pretty big increase. 1t
means the taking of many additional thou =
sands of dollars out of the pockets of the
people in the course OF a year.
Is the increase in the rates just? 1t is
safe to say that it is not. 1t is true that
Savannah has had good many fires this
year. and in sorne of them the Losses were
very large, but this has been an exception
ally bad year for Savannah so far as fires
are concerned. The losses by fire may not
amount to One-fourth, or even one tenth,
as much 10 any year again for many years.
In about every city the losses of the
insurance companies are likely to exceed
their premiums one or two years out of
period of ten or twelve years. If the COM
panies made money in every city every
year the insurance business would be about
as good business as any one could desire.
1t is certainly unfair for companies, when
they have met with losses, to increase the
rates So as to make good the losses.
The Southeastern Tariff Association COM
plains that the FIRE service IN this city is not
as good as it ought to be and that the water
supply is insufficient. The fire department
is now costing the city a large amount
annually, and is being steadily i'm
proved. When it was far from being
as good as it is now we were
rather proud of it, and it is asserted that
it is about on par with the departments
of other cities of the size of this. AS for the
water supply, the chief Of the fire depart
ment has said repeatedly that he has all the
water he wants. What is the use there
fore talking about an insufficient water
supply.
OF course the number of fires has no con-
nection with the fire department or the
water supply. The Southeastern Tariff
Association, therefore, must be understood
as asserting that the fires here this year
have not been we'll managed, and that they
would not have been so destructive if the
fire service had been better and the water
supply more abundant. 1t ought to fur
nish bill of particulars-that is, it
ought to point out the fires
at which the fire department did not do as
effective work as could have been done, or
at which there was not as much water as
was needed Unless it can do this, it must
admit that in raising rates it has acted upon
mere rumors-such rumors as are always
ahoat in q community where there has been
an unusual number of large fires in quick
succession.
The fact is the law requiring an insurance
company to make deposit of S25 900 with
the state treasurer before it can do business
in tie state is a mistake. 1t gives these
companies that make the deposit
monopoly. The MORNING NEWS has
urged the legislature this session
to repeal it, so there would be
composition in insurance. The people of
this city did not move in the matter, how
evers and now they will have to pay for
their Indifference. A bill repeating the
S25, 900 law might be got through the legis-
lat,ife to-day, perhaps. If the board of
trade were to meet early this morning and
send an urgent appeal to the representa-
tives from this county to try and have the
law repealed before the legislature adjourns
the thing might be accomplished.