The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-14
FIRE INSURANCE TRUST
FIRST LEGAL BLOW AGAINST 1T IN
INDIANA STRUCK AT PORTLAND.
Suit Brought In Nature Of an InJunc-
tion to Prevent Excessive Pre-
miums Being Charged.

The first legal blow at the fire insurance
trust In this State was struck yesterday at
Portland. where suit was filed in the Cir
cult Court by n. b. Hawkins, cashier OF the
Citizens Bank, against many insurance
companies. For many months complaints
have been sent to the attorney generals
office against the premiums charged by the
fire insurance companies, and many letters
have been received setting forth discrimina-
tions which, it is claimed. have been made
1t was but a short time ago that full in
formation was received at the attorney gen.
erals Office that policy Of insurance was
offered on drug store at rate lower than
that offered by local company, and that
as soon az the rate offered became known
the agent who offered to write the insur-
ance was threatened with suspension and
his company notified that such cutting Of
rates would not be permitted 1t is well
known that a compact exists between the
fire insurance companies by which all risks
are rated at the same rate by each company.
and the effect OF the compact Is the same
as an insurance trust.
Attorney General Taylor has been study
ing the question for a long time, but the
ineffectivesess of the antitrust laws of the
State Is such that he is not satisfied prose-
cution could be sustained against the trust
in the State. One Of the prominent insur-
anco men of this city last evening said:
1.-The bringing of such a suit as this will
not affect the insurance companies Of the
State generally. The only action that could
be maintained would be under the antitrust
laws, and the antitrust law OF 1897, which
is the only one In the State, is not strong
enough to maintain an action. / do not be-
lieve the bringing of this suit will have any
effect at all, as the compact is purely Of the
nature of trust and could be reached only
by laws directed at trust
Attorney General Taylor has expressed
the opinion frequently That one OF the
strongest trusts in the State is the fire in
surance trust, but that the laws are not
adequate to reach this or any other trust.
He has been studying the laws closely, but
as yet has not seen his way clear to take
action against any trust, under existing
laws, with any special hope of success. The
suit in Portland is brought In the name of
the State of Indiana on relation OF Nathan
3. Hawkins against the Commercial Union,
Niagara, Indiana Underwriters, Liverpool,
London and Globe, Indiana Insurance, leu
and Trust. German-American. Fort Wayne.
Firemens Fund, Franklin, United Fire
mems. Grand Rapids Fire. Greenwich.
Caledonia, Glens Falls, Delaware, Home,
National Fire, Merchants, Fire Association.
Traders. North America, Agricultural,
Western Assurance, Phoenix, Imperial,
New Hampshire Fire. Fidelity Casualty,
Hartford Fire, British America, Erie Fire,
The Palatine. Citizens. Boston. Ohio Farm
ers. Northern Assurance, Aachen and
Manchester, Milwaukee Mechanics. North
American Central Fire, Hanover Fire. Ger
mania Fire and Fire Assurance of Philadel-
phia insurance companies. The resident
agents at Portland are also made defend
Hardy. Joseph W. Policy. Charles s.
Bishop. E. E. James. Omer s. 'Whiteman,
George w. Hail. Judson A. Jaqua. N. Head
ington, Headington & La Toilette, Roger p.
Jones. w; 4; Thomas, Daniel E. Griner.
Howard NJ. Showalter, Charles e. Milligan,
Haynes G. Hall. Hall & Wilkins. J. v. Ash
craft. II. Il. Sipe and James f. Graves.
The complaint Is In the nature of an in
junction and prays the court to prevent
the companies and their local agents from
transacting business at Portland, the alle-
cation being that the companies have en-
tered into combination for the purpose OF
aso alleged that In order rie to Carry this outs
and with the full and complete knowledge
of the companies, local board of under
writer's has been organized. and that. the
various companies made defendants have
their agents in this board. 1t has an in
spector, IT is claimed, through whose hands
the policies all pass. and none Is approved
IL the rate made Is lower than that fixed by
the board.
The complaint asks that this state of az
fairs fairs be done away with by the courts. and
tive. be permitted to insure property at the
best rate he can obtain; In other words, to
meled. The condition of affairs set forth
applies not only TO Portland, but to almost
every other place in the country. The out
come of the suit VIII DE watched with
great interest, as the question raised is one
which affects every place in this State.