The Opelousas courier., 1893-12-16
Legalized Frauds.

1egalized Frauds.
Iberville South.
Most of the insurance companies do
ing business in this state are nothing
more nor less than legalized frauds.
They are combinations of deceit and
rascality and misrepresentation. The
people of this town have become so
disgusted with the methods of these
companies that they are seriously con
sidering whether or not it would be
preferable to carry their own risks and
thereby save the premiums paid on the
almost or next to valueless policies is
sued BY these companies. If a prop
arty holder insures q building here, the
actnal cost of which is say SO, 200, for
$1.OOO. for FIVE years, at a rate of six
ner cent, should that building burn
during the fifth year, these combina-
tiops of rascality, fraud, ETC., will de-
mand that from the $1,000, (the amount
of the policy and the half value of the
property three-fourths be deducted
country clause; and then again that
A per cent per annum be deducted from
amount deterioration, etc. Then
again the insured must pay a carpen-
ter to estimate the value of the build
ing at a cost generally of SIS. Then
after all these deductions are made the
slick and Shiny tongued adjuster will
go to the insured and say: "Well we
will now pay you the balance due you
provided you deduct the expenses you
would be forced to incur in a law suit
to recover the sum coming to you"
The wretch will also generally add,
that should the insured decide to sue
for the amount honestly due him, that
it will be necessary to enter suit
against the company at its domicile
and indifferently remark that such a
proceeding would be very costly.
After considering the matter and see
ing how entirely be is in the clutches
of the monopolies, the insured gener-
ally agrees to take what he can get.
Let us see what he gets. The amount
of the policy we are discussing is 81 900.
Deduct the one-fourth country clause,
we have left $3.50. Four per cent de-
ducted for five years will leave $3.50.
Probable expenses in case Of suit,
about $500, deducted will leave $3.50.
Carpenter for estimate SIS, leaving a
grand total of 1926, which is handed
the insured for his $1,000 policy. AS
long as there are no laws in this State
regulating these grasping monopolies,
this state of things will exist. Until
some snclI law be enacted, the people
shonld protect themselves by organic
ing local or home companies. We
have urged such a course often before.
Every fire in our town or parish, proves
the rascality of the foreign companies.
Plaquemine is not the only town suffer
ing from the high handed methods of
these rascally combinations.
The time is at hand when the much
talked-of possibilities Of Niagara Falls
as a power producer will begin to man
ifest themselves, says the Toronto
World. February / is set down as the
date when the water will be turned on
the turbin that in turn will cause a
dynamo to revolve and give forth 5000
horse power for distribution along the
electric wire. But far the largest dy-
namo that has as yet been operated is
the one that generated power for the
Intramural Railway company at the
Worlds Fair. This generator devel-
oped 2l00 horse power, and was looked
upon as a marvel by those who saw it.
But, compared with this machine, the
dynamo that will begin to turn on Feb
ruary | next IS a monster. It will de-
velope about two and a half times as
much power. We have spoken of
but n electrical monster. The com
pauy that has this matter in hand will
install ten of them, o after the other,
just as soon as they are needed. They
have the tunnel and other necessary
works completed for developing 100
900 horse power The day that the
first installment of this great force will
become available for mechanical pur-
poses will be an eventfnl one 10 the
worlds history.