The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1889-05-17
THE FIRE UNDERWRITERS
THE NATIONAL BOARD MEETS IN
ANNUAL SESSION IN NEW YORK.
President Durham, of Springfield, Mass,
Makes the Most Important Talk on
"Unfavorable Legislation He At
tacks the Texas Laws Vigorously.

New YORK, May 16.--The twenty-third
annual meeting of the National Board OF
Fire Underwriters was held this morning
IN the new rooms OF the New York Board
oil Fire Underwriters, in the Mutual Life
building President d. A. Head presided.
The report OF the treasurer, j. S. Parrish,
showed favorable condition of the
finances. Several papers on subjects OF
their own selection were read by several
oil the insurance men present.
President j. N. Durham, OF the Spring
field Fire and Marine Company, confined
his remarks to unfavorable legislation
which the fire insurance business is suffer-
ing under. "Unfavorable legislation" he
said, sis one Of the obstacles we have to
contend against. The insurance com
panies have brought it upon themselves
by sharp, and at times, unfair adjustment
OF losses. One instance OF sharp practice
in a town, as soon as IL becomes known,
produce very bad effect in the community
and unfavorable legislation is the newt
able result.
President George L. Chase. Of the Hart
ford Fire Insurance Company, and the
chairman OF the Underwriters Committee
on Legislation and Taxation, who has Just
returned from the West, where he made
an examination into insurance matters,
presented the report OF his committee.
He referred at length 10 insurance leg
islation in the Western States and par
| ticularly in Texas. Underwriters
there" said he, "are in chaos. The Leg
islature has passed trust bill which ii
claims prevents any combination what
ever, Of Underwriters, either for the pur-
pose OF fixing OF maintaining rates. The
| opinion OF the Acknowledgement OF that
State seems to be most severe one and
our members there believe themselves to
be in daily danger Of the penitentiary.
The case demands some immediate action
before the matter gets worse am in IA
vor OF Withdrawing entirely from the State
OF Texas. The Attorney-General has re-
fused TO make test case and tells the un-
derwriters that II he finds them continu-
ing to hold consultations he will send them
TO prison. We certainly cannot exist in
Texas under the Attorney-General' rul-
ing"
President Chase said he had secured the
opinions OF prominent Texas lawyers. and
they all agree that the trust" bill did not
reach the insurance companies, and read
several letters from legal gentlemen in
Texas as supporting this view. The mat
ter provoked considerable discussion. and
MIR. Chase subsequently gave some addi-
tional facts In reference 10 the matter and
read extracts from the obnoxious law. II
excerpts farmers and stock raisers from its
penalties, and the legal opinions read by
Mr.. Chase all held that such special legis-
lation was not constitutional. The matter
was finally referred 10 a special committee
OF five
recess was then taken.
At the afternoon session the following
officers were elected for the year. Presi-
dent, ID. A. Head, OF New York: Vice
President, ID. W. q. Skilton, OF Hartford.
Conn; Secretary, II. Ii. Blatts, OF Phila-
delphia; Treasurer. ]. ID. Parish. OF Prov
idcnce.
The special committee appointed at the
morning session relative 10 the stand taken
by the Acknowledgement OF tho State OF
Texas in regard TO the bill recently
passed by the Legislature Of that State
defining trusts, and which dis.
eliminates against insurance interests
by forbidding the formation OF any COM
bination in rates, said that in their opinion
Il would be well for each and every CON-
pany doing business there not TO relax
their efforts TO maintain all the existing
rules and rates now in force.
The suggestion was tabled as soon as
read without debate, thus prccluding any
seeming united action by the board that
would be antagonistic with the existing
laws Of Texas.
The board then adjourned.