Capital journal. (Salem, Or.) 1893-1895, 1894-08-11
Gives Another Turn to
the Screws.
The State Insurance Co., of Sa.
lem, Belongs to No Trust.
A Home Company That Is Highly
Successful.
THE NEW TRUST FORMED.

THE NEW TRUST FORMED.
San Francisco Examiner, Aug. y:
The amended compact of the Pacific
Insurance union was finally adopted
yesterday. OF the forty-nine members
thirty uine voted in the affirmative,
five in the negative and five were at
sent. After their long struggle against
the new rules the opposition find them
selves with the hope that Letter they
will be able to modify some Of its pro-
visions. This compact is offensive to
intelligent and progressive in .uran e
companies. Meyer since the Insurance
companies began to work in common
hav the rules for their guidance been
30 severe as those adopted yesterday.
Now it Is thought that such high
fence has btea constructed around the
men that they cannot escape over it,
and If they attempt anything of the
kind the penalties will quickly dis
courage them. A trial will have 20 de-
termine If at last binding compact
has been evolved.
From the above it will be seen that a
new trust has been formed.
In detail the new Pacific insurance
union rules retain all the primitive ma
chinery but give the screws another
turn. The results will be all the more
severe on the people. While reducing
the compensation of business -Ietters,
solicitors and agents, tue rates are
maintained and it is made perfectly
impossible for any company to show
the public favors under any circum-
stances. Iron clad rules and heavy
penalties are imposed to prevent infac-
lions of the agreement.
AT THE HOME OFFICE
of the State Insurance company Of Sa.
lem everything was running smoothly
when a reporter called today to make
inquiries as to the effect of this latest
manifestation of insurance trust in
iquity. Manager Cottle was extremely
busy at his desk, as he Is performing
the treble duties of general manager,
secretary and assistant secretary in a
business that shows growth of over
thirty per cent over that of last year.
1t was difficult to collect any ideas in
an establishment where q score of en-
ployes all seem driven with work, type
writers are clicking like volley Cfin-
fantry, agents are rushing in and out,
patrons waiting at several counter,
and stack of correspondence piled up
on each desk. The writer saw more
drafts, money orders, and evidences Il
cash business while looking around
than can be seen in almost any bank
of our large cities. The State Insur-
ance Co. of Salem has successfully pur-
sued its policy of increasing its cash
collections these hard times and now
that money is getting easier find them
selves enjoying the golden stream of
increasing prosperity. The treasurer,
Mr., +. A, Turner, smllingly sorted out
from bundle of drafts before him, an
for five year risk with
Sl78 enclosed as a premium In advance.
1t was one of many mail orders lying
on the same desk. Not a few agents
are sending in applications of five or
ten day in a bunch, showing the
growing popularity and strength Of the
State and Salem.
1t seemed almost farce to ask any
one in such busy place and in the
face of such manifest solvency and
such eminently satisfactory business
what fears they had of the
last move of the Pacific Insurance
Union. The writer learned this much |
the State of Salem will pay no atten-
tion whatever to the new rules and
+ ,gulations Of the insurance trust. 1t
will, through its nearly four hundred |
direct representatives among the peO-
Pile, treat all its patrons fairly guaran-
lee them against all advances, Outrages