Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1889-10-17
News by Telegraph
FROM ALL QUARTERS.
THE ATNA's WITHDRAWAL
Considered at a Meeting of
Insurance Men.
A TERRIBLE WRECK NEAR OMAHA.
Fifty-Nine Lives Lost in a
Co||iery Explosion.
THE Big COMBINE A HUMBUG.
DIR. Griffith's Remarks Be-
fore the American Board.
The Big COMBINE A HUMBUG.
THE ErNA,s WITHDRAWAL


From the Compact Entered Into by
Insurance Companies Not TO Insure
Property In New HamPshire - "A
Meeting Held in New York to Take
Action ON the Aetna's Move.
NEW YORK, Oct. 18-The notice given by
the Aetna Insurance company, of Hartford,
Conn, that it would withdraw from the
compact made by the fire insurance COM
panies in 1886, by which they agreed to
write no policies on property in the State of
New Hampshire, so long as the valued pol
icy law of that State was in force has been
the chief topic of discussion in fire insurance
circles for the last ten days. A meeting was
held at the rooms of the New York Board Of
Fire Underwriters this afternoon which was
attended by the officers of the companies
which withdrew from New Hampshire to
take definite action in regard to the move by
the.Aetna company. At preliminary meeting
held in this city last Thursday, committee
was appointed to visit the officers and dlrec-
tors of the Aetna and endeavor to induce
them to recall their letter giving notice OF
their intention to re-enter New Hampshire.
The meeting to-day was called on receipt of
the Aetna's reply which was to the effect
that the company would persist in its
course and begin business anew in the State
of New Hampshire about January l., 1890.
The other companies had the alternative of
either following the Aetna into New Hamp-
shire and submitting to what they term ian
unjust and oppressive law, which deprived
the insurance companies and the citizens of
New Hampshire of the right and
freedom of contract between Themselves
or devising new agreement ny wni when
they may substantially maintain their
attitude of opposition to the val
ued policy enactment and otherwise pro-
tect their interests, while allowing the Atna
to slip out. After q thorough discussion OF
the subject the companies chose the latter
course and adopted new agreement in which
they reaffirm their adherence to the compact
of 1885 with this single modification:
That the signers hereof shall be at liberty
to write on properly in the State of New
Hampshire when applied to by property
owners who are willing to accept policies OF
insurance issued upon the Massachusetts OF
other form of policy now in general use, al
such contracts to be made with property
owners and all policies to be issued without
the limits of that State so as not to violate
any law therein.
In other words the companies, while they
will not enter New Hampshire to establish
agencies or issue policies of insurance, b.
which they are bound in possible cases t.
pay to the insured more than his actual loss
have so tar modified their agreement of fou
years ago as to write policies of insurance o
New Hampshire property, but said policies
written on the forms in general use, such a
the people of New Yorkand Massachusetts
accept. Such difficulties as the citizens o
New Hampshire have experienced in procur
ing acceptable insurance are therefore re
moved.
In this way the companies maintain con
sistent attitude and continue what they con
slider to be contest for principle.