The Daily Texarkanian., 1899-04-02
THE INSURANCE MUDDLE.

The legislature seems to have
made a mess out of their anti
trust insurance law, and the com
panies heretofore doing business il
the state have and are withdraw
ing from further issuance of poll
cies IN the state.
The act or that part of it that
has caused the trouble, is the
clause compelling the representa-
tive of each company to make oath
that the company belongs to nc
combine to fix insurance rates-this
the companies cannot do, for it is
known that a uniform rate is fixed,
the same as rate sheets are on rail-
roads or telegraph lines.
When the attorney of the state
cited the companies to appear to
show cause why they have not com
Piled with the law, they began to
realize that the law meant more
than its passage and the best way
out was for them to withdraw en-
tirely from the state.
Meetings have been called all
over the state by business men to
see what recourse could be taken
for protection to property against
loss by fire, and our city is not be-
hind in this matter for the fellow
ing poster was distributed on the
streets yesterday afternoon:
IMPORTANT MEETING.
Owing to act recently passed by
the legislature of Arkansas all Fire
Insurance companies have been
compelled to suspend business in
the state and no further policies
are to be issued.
The undersigned requests all cit
izens of Tcxarkana to attend d
meeting of the Board of Trade at
the Office of G. A. Hays, at three
o'clock today for the purpose Of
discussing the situation and pro-
vide, if possible, some remedy look
ing to the relief of all interested in
the insurance question,
G.. A. HAYS,
Sec. Board of Trade.
Saturday April /.
The call of the meeting bore fruit
as the following proceedings will
show:
A meeting of the business men of
Texarkana, Arkansas, was called by
Il. A. Hays, secretary of the Board
of Trade, the meeting was largely
attended. f. W. Mullins, mayor,
was called to the chair and G. A.
Hays was made secretary of the
meeting. The objects of the meet
ing was TO take action in regard tc
the antitrust bill which threatens
to drive fire insurance companies
from the state. A committee was
appointed to draft suitable reso-
lotions and the committee reported
the following which was unanimous
ly adopted;
Resolved by the business men Of
the city of Texarkana, Arkansas,
That in our opinion the bill recently
enacted by the Arkansas legislature
known as the antitrust bill, which
effects the insurance companies do
ing business in Arkansas, to the
effect that said insurance companies
or any of them, which are connect
ed or governed by any combine,
trust or by any agreement to es-
tablish rates are liable to heavy
penalty, whether such agreement
is made to govern premiums in the
state or not, and which law threat
ems to drive all standard insurance
companies from the state, threat.
ems our state with calamity that
would be so disasterous that it
would materially affect and damage
the credit and business standing oil
merchants, and cause the fore
closure of mortgages, which are
largely secured by insurance or
property and to an extent affects
and damages the interests of al
classes,
Resolved, That we respectfully
petition the senator frem this dis.
trict, and the representative from
Miller county, to exert their in
Auence to secure such amendments
to such act, as will guarantee reas.
enable protection to insurance
companies so long rs their acts
shall not be oppressive to the in
sured in Arkansas,
G. A. HAYS, r. W, MULLINS,
Secretary. Chairman