Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-06-14
THE CO-lNSURANCE CLAUSE
A MEETING or BUSINESS MEN IN
WACO YESTERDAY.
Another Convention Called to nice,
in Galveston ON Ju,y 10 TO FUR
th"s Discuss the Objectionable.
Lasiscr's Plans 10 Remcdy II.


Waco. Tex. June is.-The committee
appointed at the meeting held in Dali
las April to protest against the co.
insurance clause OF the FIRE insurance
companies and 10 devise woys ana
means 10 protect property owners and
insurers in the event OF the refusal
OF the companies 10 modify the clause,
held a meeting at the Pacinc hotel to-
day. pursuant to call. NJ. Laslser or
Galveston. chairman OF the committee.
was present, but Secretary Meaiasters
of the same city was detained by III
ness.
The meeting was attended by Messrs.
Lasker G. r.. Reynolds. Dallas: C. j.
sorrells. Hillsboro; jones Clarity. Cor
sicana. and sam Sanger and ]. w.
higgins, Waco. 4 couple OF hours were
spent in Informal discussion at the
Pacific hotel. and at II oclool, the COM
mlttee repaired to the parior OF the
hotel and held session with closed
doors
Chairman Lasker presided at the
meeting and reviewed the work OF the
Dallas convention and the purposes
sought to be accomplished by the COM
mlttee. He laid plan before the meet
ing providing for the organization and
establishment Of Insurance companies
In the state sufficient to divide the bust
ness and compete with the old COM
panies He thought about fifteen COM
panies could be organized as regular
stock companies, part Of the capital
stock being paid in at the start for the
purpose Of beginning business, the re-
mainder constituting reserve fund
to be called In when needed No ac-
ton was taken, however beyond the
discussion Of the proposition and Its
Endorsement.
He said he had not fully perfected
the plan nnd thought it well 20 with
hold its full presentation until n meet
ing In which there should be a more
general representation of the state, and
for this purpose he advocated the call
ing OF another meeting and urging
every city and town in the state to
send delegates. He thought a large
attendance could be secured because
of the more general and thorough UNI
Outstanding Of the reinsurance clause
at this time and It's effect. These views
prevailed. and were embodied In the
following report 10 Capt. james Garrl-
ty Of Corslcana, chairman OF the Dali
las meeting. as follows.
Waco. Tex, June 10, lsN'-Jame3
| Garrity, Chairman. Corsicana, TEX .
Your committee has duly forwarded the
resolution passed "a the Dallas meet
| ing on May TO the Underwriters as
sernbled at Louisville. and MS YOU VIII
| perceive from the inclosed reply the
| suggestions made by the Dallas meet
| ing have been summary ignored ny
| the Underwriters. Your committee have
| met at this place with the view OF
| forming II plan OF relief 20 the assured
| OF Texas, and feel pleased to report
that they ind various methods well
calculated 10 afford such relief, pro-
| vided the assured OF Texas Will heart
| lily cooperate with each other AS q
preliminary step TO bring about ms
| desired result your committee recom-
mends that the assured Of Texas form
themselves into local clubs In the va
rlous towns. cities and counties
throughout the state OF Texas. FOR
| the purpose Of cooperating for mutual
Insurance protection 1t would be wei
for all existing commercial bodies
throughout the state 10 cooperate IN
the formation OF such clubs. We rec
ommend also that you call meeting
TO take place in Galveston on the 10th
OF July, and that each club and each
commercial body throughout the state
send one or more delegates TO attend
such meeting, ~ which time your com
mlttee will be ready 10 lay before such
convention well-dcnnrd plans. with a
view TO form local Insurance compa-
niles throughout the state, and such
| suggestions for legislation as Will prove
beneficial for all parties interested In
Texas Insurance business. Very truly
| yours,