The herald., 1897-05-09
INSURANCE

The local situation remains about the
same in fire insurance circles, but there
! is a feeling that something may hap
Pen as the result Of the radical changes
that have lately been effected in the
conduct of the business, particularly III
the matter of the 25 per cent cut that
has been made in agents commissions.
1t ia not expected that all the agents
are going to accept the situation, and
indeed something more than mere
protest is expected from some of them.
if the language used is any index TO
their real intentions.
The summary removal of the Lam
cashire agency from the office of C. o.
Hawley by the firm of Mann & Wilson,
coast managers, has been the topic of
considerable discussion and of not a
little adverse comment. The business
OF an agent is supposed to be an asset
of value, and cases are constantly oc-
curing where the good will and regis
ter of an agent is transferred to a pur-
chaser who desires to engage in the
business and is willing to pay for the
privilege. The consent of the compa-
ny's manager has to be obtained, of
course. On the other hand. for man.
ager to deprive an agent of valuable
business without good cause is a piece
of tyranny which may naturally be fol-
lowed by retaliatory acts on the part of
the agent SO deprived In the case of
Mr.. Hawley we understand that no at
tempt was made to furnish him with
any explanation of the proceeding, and
it is interesting to know that he main
tanned his right to the property in. and
possession of, his registers.
A meeting of the agents was held at
the office Of Mead & TAFT at p m yes
terday for the purpose of discussing
matters of interest to agents a the pres
ent time. The proceedings were con-
Quoted with closed doors.
Mr.. r. B. Stephens is confined to his
house OF account of severe sickness.
A bill in Minnesota exempts from ex-
ecution the proceeds of life insurance
policies to the amount of $1,000. "The
limitation is absurd says the Mime
apolis Journal, which argues that it
should not be lees than $4,000.
The American Mutual Life associa-
tion, Just organized a Topeka. Kan,
promises 10 "revolutionize the Insurance
business by writing insurance al low
er rates.
Hon. VIM. c. Mayburry managing di-
rector of the Standard Life and Accident
Insurance company of Detroit has been
elected mayor of that city by very
large majority.
|. is estimated that over five hundred
5 seQarate bills relating to insurance have
been introduced in the various state leg
islatures during the past ninety days.
The crisis on the Pecific coa@t In con-
nection with the insurance situation
have been for some time as numerous
and as thrilling as the crises in Cuba
says the Chicago Argue.
The Mutual Benefit Life Insurance
has the unusual experience of
the first policy issued by the company
being still in force. II was issued fifty
three years ago and the man holding it
10 ninety-fve years old.
Few people realize the difficulties an
agent has to contend with in refusing to
carry risk of which his judgment does
not approve. ] believe, from long ex-
perience as an agent. that it is easier to
get dozen new risks than to decline
one you do not want. You must remem-
Der that human nature Is very oensitiVe,
ard any imputation causes it to show
resentment which influences friends,
enighbors and others in a multitude of