New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-11-05
ENDING AN INSURANCE WAR
ADOPTING REAiUNERATIvE RATES.
THE TARIFF ASSOCIATION OF NETWORK MAKES
NEW cCHFDITIE

NEW SCHEDULE.
There il an excellent prospect that the fire in
surance companies of this city at last to ENJOY
relief from the excessive competition which mas
prevailed for long time. The Tribune mas az
times noted the progress of the war OF rates winch
led to figures that were actually unprohtabie ana
which, if continued would have demoralized the
business Mutual jeaouses have hampereu une
efforts toward change In the unfortunate con-
disions. but the special committee OF the lariii
Association which was appointed some time ago
to devise reasonable schedule Of rates has WORKED
steadily without yielding to discouragement' Inc
committee finally reached complete agreement anu
reported yesterday to meeting of the lariii
Association The association voted to accept
The report and the new schedule OF rates Will
take effect at once. go
The committee has handled the problem Win
commendable discretion, the rates agreeo upon
having been kept strictly secret In order 70
insurers from working to secure renewal Oh
based on the old "cut-throat' rates IL " con-
fdenuy believed that no contracts al cne oio l"'s
have been made, pending the action Oh tne iaiin
Association, and this encourages the members 10
look for successful maintenance Of the new scheo-
ule All Of the New-York companies have agreed
to the new schedule excepting the continental
Fire Insurance Company. One foreign company
the Guardian Of London-and two New-Jersey
companies-the American and the Fireman's of
Newark-have not assented 10 the tariff IL Is
believed. however that these companies are not
hostile to the attempt to obtain remuneranve rates
and they are expected to pledge their cooperation
in short time The Importance of this action OF
the Tariff Association will be appreciated by every
one interested in fire Insurance. either as the in
sured or the insurer. The Tribune is able TO lay
before it's readers the text of the new schedule
adopted:
TARIFF ASSOCIATION OF NETWORK.
AREA OBJ OPERATION.
The rules and rates Of this association shall apply Oh all
mercantile and storage risks Except on buidngs) anu
manufacturing risks using power located in the city OF
NewYork below line commencing at Fourteenthst NJ w.
cunning easterly to FourthaveY down Fourth@ve ana
Bowery Grandst and along Grandst. to East River
including both sides OF said streets and ON and In the
pers whsrves and storage warehouses Except on build
ings on the shore line of NewYork, Brooklyn, Jersey
City Hoboken and Staten Island. and on such other nd'
yidus risk classes of risks located in the city OF New
York Judgment Of tie association 1t Is eapedIent
" rate.
At meeting OF the association after the appoint
ment Committee Rates it shall be the duty OF such
committee 10 report schedule OF minimum rates TO apply
on be rated in the tariff district above specid
commission rule shall apply as soon
as such schedule is adopted.
All such risks shall DO written only At the cher once Oh
the company and than 10 per cent OH the pre-
mum thereon shall b. allowed brokerage or commission
The association may also rate risks In the Metro
potan District outside the city of New-fork ana sueh
risks be written at the chief ONCE of the
company, the local agency or branch oncs
and the officer, agent manager Issuing the pohcy may
allow than is cent brokerage or commission
the premium thereon
Tho Committee on shall recommend ratings to the
association when, if the are adopted BY vote OF 30
per ent Of the present at any meeting they shall
become operative and TO change rate once established
vote Of 90 per u the members present at any meet
ing shall be requisite
DONATIONS
The Deviation Committee shall have power to examine
the oSe agency or branch office alleged to
have doyiated the party complained Of, under
oath and testify to questions pertinent
10 TIE complaint s be deemed admission Of the truth
Of the charge Appeals he decision OF the committee
may the members ut any meeting notice Of such
appeal having previously been given TO each member of the
association and the findings shall DO confirmed unless
majority OF those present shall vote otherwise.
The Deviation Committee impose penalties In Zines
exceeding 500 for one violation OF rule or rate
MINIMUM RATES APPLICABLE 40 ENTIRE MET.
EoPoLITAN DISTRICT.
Hudson River r. T. st0ies 90
Storage stores cotton and other fibre -; 80
Storage RISKS other IDre in Staten Island
Sores and Piers 12S
Storage Stores private, nOnhbre contents. 80
Storage Stos prvae cot on and her FIBRE contents oo
Storage stores exclusively for grain, other tnan ..
floating s Policies, excluding cotton and other nbre
road Stores nor il any tobacco inspection IN
ssS'ss sSS
and 3 Jersey 1W Or stores or sheds on Black 90
Floating PSiise nsSains Cotton and other fibre, but
the policy to specify that 1t does not cover In places
Floating Policies exsudng elevators only LOO
Dieweres and Malt Houses "a
building 100
WHAT snd Piei Risks covered contents 100
Open excluding cotton and other Other a aSr contents
whsff and Pier b9Tdns. 125
oTS HARD %Se a2 Saves ssd and uss
Elevatofs (sain public than Specifically rated 250
BOWS BOWS f Esyssos, a and
Ssdso0 RIVER iSa Railroad Esyo$ building
Ere Ssl Elevator building and contents SS
fennsyysnia syater eSdins and contents 20
fipps Eisvsor building and Contents 2.9
Grain %asehouscs, with elevators attached s
suss RsSses s last as rates promulgated by The
fsrG Association, re-estsbhshed list will be pub
Sugar ReaneTis not specifically rated 500
sugar RsSnsies not in operation and closed ict
S ssas!is i isS
stss@SS.s plying between point. II Nsw:xers Asrs:i
and Lag az n SS Sandy hssS
cSney Kocfs~as Jersey go
Steam Or ss Vessels; when building or repairing on
she ways (sueh must be insured separately from the
materials which are Oh board LOO
Vessels In Port, their cargoos, with warranty
= stricting from loading petroleum oil In barrels
bulk or frenlyn at the deck premises Of eny oil
yard or refinery LOO
Vessels In Port cargoes without warranty. ESQ
tug Boats constructed for towing only. rs
Dredges LOO
Steam Derrcks LOO
Blank Book Netorles-Maehinery per cent other con-
TENS IL Der cent-Foundries, Machine Shops and
sss.ss5 Ss q Sss;s
Caady Factories . . 15o
Drugs WHOLESALE Contents 125
Envelope Factores.-Machinery i per cent, Stock
4 per cent.
Steam Flour Mills per cent-Ccntents
Printers and LithOgrapher.--Foot and hand power 1
per cent, steam power sl.75. II warranty Is made
against U Of benzine and other mineral substances,
% cents D. deducted.
specified sbove .','' 1e .o"',' ~. LOO
Horse Car Stab e. on sprinklei zoe I50