The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-02-02
Board of Fire Underwriters Now
Fully Organized.
FORTY AGENCIES SIGNED.
SAID TO BE ALL OF THE DESIRA-
BILE COMPANIES.
Rate Cutting Has Practically Ceased
on the Coast and VIII he Discon-
tinucd in OEdcn-NatiOnaI Bank of
the Republic Secured Itself on
the Ben Davis Shoe stock.

At last the cruel war is practically
over and insurance circles will now
take on their normal condition. The
perfection of the reorganizati of the
Pacific Insurance union was effected
yesterday in San Francisco and all of
the desirable agencies, forty in num-
Der, have signed the new iron clad
agreement. The outsiders are small
coast companies and habitual rate cut
tiers and rebaters, whose admission to
the new compact was contested on
these grounds. There has been a ces-
sation of the rate war and, while it is
highly probable that the recalcitrants
Will still continue to do business on the
bias, their attacks are no longer feared,
for 1T is understood that the board
will make some changes in favor of
the property owners and effectually cut
out the pirates.
Salt Lakes agents, who have main
tanned a conservative course during the
airing of differences among the mem
berS Of the compact are now congratu
!aung themselves upon the stand they
have taken in contradistinction to that
of the Ogden agencies, who for the past
week have been engaged in Industrious
yesterday dispatches of an encouraging
nature began to flow in from the coast
and in the afternoon several of the
agencies received word that the reor-
gdnlzattOn of the compact had been
effected and that all of the desirable
agencies were within the fold. Last
night the following dispatch was re-
ceiYed by the Associated Press:
san Francisco, Feb. 1.-Ehe' new
Board of Fire Underwriters, as sue
cessor to the Pacific Insurance Union,
was fully organized today and rate
cutting has ceased. Out of fifty-five
agencies in this city, representing 1O5
companies, forty agents have signed
the compact. Those companies which
have not signed the compact are local
corporations or those of small capital.
which will not be admitted to the board
because of alleged violations of the old
compact. The union as a. body will
offer lower rates than outside compan-
les can afford to take"
For the past week daily attempts
have been made by the general agents
at San francisco to get together and
| perfect the organization OF the Board
of Fire Underwriters, but it soon be-
came evident that the new constitution
was little, if any better, than the old
and for this reason an agreement was
not arrived at until both were dis
| carded as a whole and only such parts
| as were unobjectionable taken for the
| founda of the new governing meas
tire. In the main the new code of
| laws for the government of the board
| adheres closely to the former constitu-
! ton, but clauses never before thought
of have been added and the result is
an iron clad agreement, which will be
| extremely difficult to break at the
hands of any manager, and the breach
will be punishable by expulsion from
! the compact. During the meeting yes
/ terday the argument was made in adj
vocacy of the new order of things, that
| expulsion meant disgrace and disgrace
| in this instance is ruin. Whenever pos
! tive proof can be obtained against a
member of the compact accused of rats
cutting or rebating. his case will be
taken under consideration by the whole
| body and if the agent is found guilty
he shall be expelled from the board by
a vote Of not less than two-thirds OF
| the membership Hitherto the penalty
! for infractions of the rules of the COM
| pact has been a. fine, but now the mem
bers will be placed upon their honor
! solely.
/ 1t is now stated upon authority that
the Ogden agents will be severely
called down and the rate war then will
end very suddenly.