Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1899-02-09

ations otherwise than through resi-;
ent agents. is one deserving the
ttention Of manufacturers who already
by large sums for insurance, and of all
ersons. who pay fire insurance. 1t
i'll meet with strong opposition.
e. Tatnall Warner, of the Charles
Warner Co. has examined the bill care
illy and looks upon it as opposed to-
he best interests of the city. To n
eporter OF Every Evening he consented
yesterday to give his, views on the
Measure.
Beginning with the title Of the
Jet, = said Mr.. Warner, II would sug-
TEST that it be changed to read. An
Act for the relief of INDECENT and dis
sbled insurance agents. ,,HEi
II In discussing the act, Mr., Warner
bald, Section l., which is really tho
pith Of the whole bill, secures to the few,
Insurance agents located in this State,
commission from the insured. This
Commission, understand, varies from
15 to 20 per cent Of the premiums, and
would make very comfortable income
IL equally divided among the several
Insurance agents located here. /. This,
however, is not the most important
objection to the. bill. ~ ~, XII
1t may not have appeared to you |;
indeed, but few people are impressed
with the fact that 10 or 20 nanufact-
uring establishments, having CAPT
talization Of possibly SIC, 900, 900. not
ably the Harlan g. Hollingsworth Co. !,
II. Blnmenthal & Co, Ford Morocco
Co, American Leather Co. Joseph
Bancroft & Sons Co., e. I. du Pont &
Co., j. NJ. Poole Co., Pusey q Jones
Co., Diamond State Iron Co., johnson
Forge Co., jackson & Sharp Co., Pull
man Palace Car Co.. Edge Moor Iron
Co., William Lea & Sons Co., Dla-
mond Ice Co.. Lobdell Car Wheel Co.,
p, w. & b. railroad, Charles Warner
Co.. and several hosiery companies OF
this city, give employment to about
e5,000 men, women and children, which
you will notice constitute fully one
bird Of the population Of this city.
These establishments have their agen-
ries in nearly every State of the Union,
and some of them In Europe and South
america. Their competition il excess
siyely, close, being obliged to meet the
shrewdest and best equipped manufac-
turing establishments OF the Eastern,
Middle and Western States. These men
pay upon their business q corporate
and income tax amounting to one
tenth of one per cent OF their whole
purchases. Why should they be called
upon to pay another tax for insurance.
XThey do, not ask Legislative protection
to debaf the agents Of foreign corpora
lions coming TO this State to compete
with them for their home trade; in
fact, they all feel that it is important
Ito them that trade between States
<should be as free and uninterrupted
rs possible, and, although at times 1t
4 may deprive them of some little trade,
as q rule they are benefited by their
ability, to deal favorably with and
make. their purchases at favorable
terms and prices, which are quoted them
<by dealers in goods which they con,
sumo in their manufacture. They are
fobliged, in order to meet the COM
petition above referred to, to manage
ktheir business in every department
with the greatest economy and skill
They can command. On the contrary,
] think you will agree with me that
there is no business more extravagantly
managed than the fire insurance bust
ness in the United States. The rates
of insurance that are imposed upon us
by the agents representing foreign cor
porations now doing business IN the
State, are simply an outrage upon this
business community. This IS proven
by the fact that no stronger insurance
companies can be found anywhere in
the world than the Manufacturers
Mutuals of the New England States,
New York and Pennsylvania. ~
What is the present cost OF insur-
Hnce to the manufacturers was asked.
"The average net rate of insurance
on such establishments as jackson 4
Sharp Co., Harlan & Hollinesworth
Go. in the mutual companies above
8alluded to are about one-fourth Of one
per cent, whereas on the same class
Of property, tho combination of insur-
ance companies represented by local
agents demand 2 to- 3 per cent per
annum. Speaking for the insurance of
Charles Warner Co. we are enabled,
although our buildings are largely CONF
posed OF wood, to secure insurance at
about from one-third to one-half the
rates demanded by the companies rep
resented here by agents, and tho COM
papies which we employ TO protect us
are quite as responsible as any who are
represented here under the present in
surauce law of Delaware. feel, and
] think you will agree with me, that
< tho insurance business should be forced
eorporations, whose Industries are so
Important to the prosperity of our
State and town, are obliged to com
= pete in order to secure the work which
\ sprovides, as stated above, for moro than
one-third of the whele population of
IA this city. 'fhtsf Is 90 y, Et
Fl There is certainly 90 justice ID n
law which obliges tho citizens OF this
State to pay to foreign corporations, or
to corporations established in this
a State, 100000 to $500, 600 per arlpum in
orderlthat, few poIiticians.may secure
a d salary, lor a few INSURANCE agents
recsise from 'thsI citizens, s20sabo TO
$40, 600 per annum for which they
return no valte.n
f'axhat Is the. total estimated amount
ofpremiums psid in this State, to IN,
surance compauies?" t5s,,5
...It is estimated the premiums Of all
companies taking risks in this State
approximate 5000, 900 per annum. Eff
teen per cent of this at least would so
to insurance agents as commissions,
say $4,000. II the, competition ! for
this business s'left free and open, the
premiums would BIO reduced 10, j
should think, $500, 1000, leaving to- the
insurance agents commission Of $40, :
GOO per annum, which, for the number
established in the State. / should.con-
slider very fair amount to be paid for
services rendered. 1t must DO borne
In mind that 50 per cent of the pro-
miums paid here to agents of foreign
Insurance companies will pass out Of
the State, and IL might rs we'll be sent
direct as to pay an insurance agent 10
Per cent to forward it. y ,'...
Would you advise the repeating Of
all the nresent insurance lawa2,, = N