The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1895-02-15
HAD a GOOD nFFneT.

Wednesday, Nights Fire WiII AID in
Closing the Rate War.
Present indications are that the fire of
Wednesday night will have a most salu-
tary effect upon the local insurance stu
alton, from the standpoint Of the mem
bers of the local Board of Fire Under
writers and the conservative business
people of the city and territory The
IRE. which originated in the rear OF the
store Of Lipnan, Wallerstein & Co, made
up a pretty hard lesson 10 the insurance
companies, and especially those which
rates. for it gave them some IDEA Of the
havoc which would be wrought among
their reserves by a widespread conhaSra-
ton. the losses being maze unusually
heavy by the cuts which had been al
lowed in the premiums. as matter OF
fact, the fire of Wednesday resulted in
the practical calling off of the dogs Of
war by one of the anti-COmpdct COM
Two more that things were not what
they seemed. Except in special cases,
cases where the local board companies
are determined TO underbid the OUTSIDERS,
there will be no more rate cutting. or at
least cutting Of the same nature as that
INDUCED in within the past TWO weeks.
II is very evident that the end OF the
merry War is near at hand.
At the same time that their chlefs we're
wrestling with matters of vital import
anCe to the compact down al the Hotel
of the local Board of Fire Underwriters
we're yesterday afternoon entering INTO
an agreement to make the remainder or
the rate war particularly tropical for
certain of the outside companies ana
every proposition made by the latter Will
be called by the board companies which
hold policies on the risk threatened me
agents are rot in search OF trouble, pet
1,7 1rar n o.
ton that the other fellow IS not going
10 have all Of the fun.
At the several meetings which the
Board of Fire Underwriters Of the Paci-
f1C have held a Monterey since Tuesday,
some forty-fve general agents were IN
attendance. They found that it was next
10 impossible for them to reach any con-
cIusion on rules while subject to the
disturbances OF the city, and for this rea-
son packed up and went out TO Monterey
with the determination to hold it out
until all OF the matters connected with
the future government Of the board had
been considered and adopted, Advices re-
ceiVed in this city yesterday afternoon,
were to the effect that some important
highly probable that al of the differences
which have been the cause of the pres
ent trouble in insurance circles would be
adjusted, thereby enabling the outside
agreement and the constitution without
any particular crawflshing.
! General Manager Duval, of the Con-
tinental, one OF the four outside COmpa-
MES, has just issued a new letter to his
agents, but since the date of the COM
nlunicatiOn q dispatch has been received
by the local agents ordering them TO DO
some hedging. The circular letter is as
, follows and states the position of the
company:
You win remember that in our former
letter we stated that any future organi-
zation must provide for the protection of
all local agents. especially in the matter
OF writing business over their heads in
San Francisco and for the adoption of a
schedule for mercantile risks as viii
& make possible and designate such I'm
proyements as viii give the lowest pos
{ sible rate to the assured Neither OF
these important, and as we consider vital
/ matters. have had attention.
/ We strongly object 70 the adoption of
! a non-intercourse rule, having taken such
| decided grounds upon this. subject as TO
| make 1t thoroughly. inconsistent that we
I should take part in such a movement
against other companies:
| "If, however, any action is taken by
! any new organization or any Of its mem
| berS affecting, our business or agents in
any unfavorable manner whatsoever we
! viii take such methods Of perfection and
/ retaliation as may seem best We are
prepared at the present time to stand by
I you in defense Of our business both as
/ 20 line and rate, and no agent need fear
! but that every risk on his books Will be
protected by the company. We arc pre-
| pared in cage of any difficulty TO auth
orize lines up TO fifty thousand Cs5O OOO)
| dollars. and while we deprecate and viii
avoid, IL possible, any decentralization and
VIII assist our agents in correct prac-
! tees. and feel that we have consistently
stood for their rights. nevertheless we dc
not propose to be Invested OF our right
| to do business and no boycott in the
shape OF non-intercourse regulations Of
any kind or description viii drive US
| from the field"
| Late last night dispatch came over
| the wires from San Francisco to The
! Herald and its contents were not of q
very encouraging nature on several
| points. 1t announced that the differ
! ences between the loyal and outside com
panieS had not been adjusted and the
/ same conditions continue on the coast
The disratch was as follows;
| san FRANCISCO Feb. 1.-the insurance
| managers who have been holding a con-
! ference at Monterey, have returned with
the outside objections to the features al
| the new compact constitution still unset
| tied. -Four .prominent managers still
stand oloof from the compact and rate
cutting still goes on among all thu
| agencies.