St. Paul daily globe., 1895-11-19
RATES, OF INSURANCE.
Subject Again Before the Cham
her of Commerce..

per OF commerce.
A communication from tine Trades
and Labor assembly was received at
the meeting of the chamber of COM
merce yesterday morning asking the
chamber to use it's influence in intro
ducing the free text book system into
the st. Paul schools. The communica-
ton stated that the system was in
effect in a number of other large cities
and was a success wherever used. Re
ferred to committee on education.
Capt. Castles amendment to the by
laws, by which directors who have
served twenty years should be placed
on the honorary list, was adopted.
The following delegates were chosen
to represent the chamber at the immi-
grafton convention:
Messrs. Kirk, Morton, Woodman, H.
Smith, J. T. Conley, S. L. Moore, w.
P. Jewett, Fairchild, Olmstead, Brooks,
Jefferson, Graves and Talmadge. The
chairman urged them to be present at
the opening session of the convention.
They will meet at the governors office
at the capitol at 9:45 this morning.
The committee appointed to investi-
gate the schools was announced as
follows:
Messrs. Tighe, Taylor, Williams,
Woodman and Powers.
The committee on transportation was
granted further time. Mr.. Kirk, the
chairman, said that the time limit
within which the city railway could
not be asked to build new lines, ex-
pired Sept. l.
Mr.. Hodgson, of the insurance COM
mittee, made a report ON resolution
previously offered, the effect of which
was that insurance rates be- decreased.
The report ended with the following
resolution:
That the chamber of commerce earn
estly requests all representatives of
insurance companies to urge upon their
respective companies the necessity and
the wisdom of an early reduction of
rates, and especially requests the ad-
juster of rates to make liberal reduc-
tions in the higher grade of risks, and
at all times to make reasonable allow
ance for every fact and condition re-
ducing the hazard in each, particular
case, thus furnishing the highest in
centive to the insured to use every
means at his command that will tend
to decrease the risk. Adopted.
The body of the report stated that at
the meeting of the committee w. B.
Dean, e. H. Cutler. Cyrus H. Kellogg
and Ambrose Guiterman were present,
as representatives of the Jobbers'
union, and also J. w. Lancaster, In
spector Of the underwriters bureau;
and p. W. Peet, vice president of the
chamber of commerce. Mr.. Lancaster
| presented to the committee figures of
receipts and losses for the past seven
years. showing the total to be: Re-
ceipts. $5,512, ,923; less 35 per cent ex-
pense, 81 ,921 ,522, leaving a net balance
of So, 5S9, 400; losses, $3,161,623; balance,
| $421, III, which is the profit in seven
years. or sec, 254 per year, which divided
among lis companies, leaves each one
profit of 1924, mot a very large sum
for so hazardous-a business"
To the committee the insurance men
! explained that commissions were never
less than Is per cent, and sometimes
ran as high as 25 per cent. Taxes were
4 per cent. The remainder is the amount
expended for salaries of inspectors, adj
| justers, special agents, officers, clerks
and for rents and other expenses of
| management. AS to the valued pol
icy" it applies only to cases of total
loss, and as the policies cover founda-
ton as well as superstructure total
loss practically never occurs. The in
surance men maintain that it is i'm
| possible to lower their rates. The COM
mittee is of the opinion that lower
rates could possibly be secured by the
Introduction Of strong non-board COM
panies.
On motion the report was adopted.