Capital journal. (Salem, Or.) 1893-1895, 1893-10-07
AGAINST THE TRUST.
The State Of Salem Exposure Of The
C,nspiracy Of the Pacific In
SuFance Union.
A GIGANTIC TRUST
A Combination Of Stock Job
berS
A GIGANTIC TRUST
Seeking to Maintain Exhorbitant
Rates of Insurance in Oregon.

|
of the Albany Herald, an Albany bust.
ness man thus expresses the methods
of the trust:
The P. 1, U. is a combination of San
Francisco stockholders and manipula-
tors of trusts who have secured the Pa
cific coast agency for a lot of foreign in
surance companies. They colleagued
together and called themselves the Pa
cific Insurance Union, and began to
levy exhorbitant rates of insurance on
property owners, and govern the coun-
try in fire insurance with an iron hand.
BY degrees they have become so arro-
CANT they now order city councils to
curtail or broaden fire limits, and con.
struct houses according to their die
tates. If councils fail to obey the man
dates of this arbitrary, selfconstituted
set of bosses the threat Is made that all
insurance companies will be ordered,
by this compact, to cancel policies on
all property in towns refusing to bow
to this Infamous trust. That they
might more certainly secure the execu-
ton of their demands they. say to the
insurance companies of this state "If
you refuse to do as we of San Francisco
demand, who have no interest in the
state of Oregon, only so far as the
money we can abstract, either fairly or
unfairly, from your state, we will at
tempt your bankruptcy by buying up
the policies which You have out, and
with our combined strength we will
underbid your risks. When we have
driven you out of the field we will then
bleed your property owners, whom we
have hoodwinked, until all the losses
we have sustained in destroying you
are recovered"
'Z' says these foreign companies
are the bone and sinew of this country
because each of them has deposited
$4,000 in U. :. bonds with our state
treasury. Inded they did, because the
law compels them to do so, but they
don't pay the state cent of taxes on
their deposit, and when they cease to |
longer do business in the state they
withdraw their bonds from the state. |
Now, "Z,n where is the bone and
and sinew apparent to the state of Ore,
gon by the P. 1. u?
1t is plainly the duty of the citizens
of this state to put their foot on the
perpetrators of such outrages as are be-
ing ordered by the P. 1. o., and keep
their foot there until the next meeting
of the legislature, when attention will
be called to it and legal enactment pro-
Yided for the protection of Oregon
property owners against being held up
on every corner by foreign monopolists
and their pockets looted and justice
rihed of its power.
In proof of this, as soon as the State
of Salem refused to be accessorys to the
proposed wholesale system of apparent
confidence sharpers of San Francisco in
essaying to rob our farmers and busi-
ness men with high hand, and kill
the growth of our towns and cities and
to compel us to pay tribute to fore.
igners, this Insurance trust of San
Francisco sent secret orders to their
local agents, to proceed with the system
of dishonesty, in offering exorbtant
sums to those insured in Oregon comp
anies If they would withdraw their
support from their companies and give
1t to these Foreigners. The man who
will stand before the tax payers of this
state and uphold such a gigantic
swindle of a set of confidence sharpers,
Is unfit to be at large within the border
Of our state and there should be law
to handle him as an accessory to.high-
way robbery.