The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-10-30

Total losses paid in years .S17S, 8S5. rs
The premiums received by the insur-
ance companies in the city of Topeka
will average about 800, 900 a year,
hence in the six years past the COM
PANTS have taken in, cash premiums
to the amount of $500. 600. This shows
that the insurance companies after
paying all losses have $421, 114.25 left
with which to pay the expenses of con-
Quoting the business and paying inter
est on the capital stock of the company.
In other words, the loss ratio was a
tribe over % per cent of the premiums
received, leaving a matter of 70 per
cent or $40 out of every 500 over and
above losses, to pay expenses and in
terest on money invested as capital 1t
will thus be seen that Topeka has been,
land II has always been), a very profit
able city for insurance companies In
the face Of this situation, the gentle
men have asked the citizens of Topeka
to protect them" for the reason that
they are afraid that they viii have to
pay back to the companies some of
their commissions as a result of this
fight. In other words, they ask the cit
liens of Topeka to continue paying
them high rates for insurance SO that
they can make more commissions and
have none to refund in consequence of
this cut. contend that no man has a
right to ask his friend to pay him more
for an article than he can get it for
from other people, for in doing 50 YOU
are practically charging your friend
money for the privilege of being your
4
position on friendship. The citizens of
Topeka can come back at you and say
the official statistics show that we are
paying a great deal too much for our
insurance in this city. From the stand
point that these gentlemen take they
would come back at Mr.. Citizen and
say: "Oh! well. don't want you TO
encourage a reduction OF rates, because
that would reduce my commission, and
you know I am a friend of yours" It
looks to me that this plea for SYM
pathy is not meritOrious one.
You ask a citizen to sympathize with
you in your efforts to keep up insur-
ance rates so that he will have to Dav
more for his indemnity to the end that
you may make more commissions and
nave none to refund, as aforesaid, in
consequence of this fight. Therefore
in answer to your first question will
the citizens Of Topeka protect the
agents. l should say that in my hum
bic opinion. don't think they will and
in reply to the suggestion that the citi-
gems of Topeka should take pleasure in
showing the Continental Insurance
company of New York that such mo-
tives as those which seem to be actual
ing it in this move (of lowering rates)
are unworthy the consideration or sup
port of the citizens of Topeka as
against the interests Of the local agent
Of this city" would say that
don't think the citizens of
Topeka win take pleasure in doing any
thing of the kind The citizen can very
properly ask where do I come in?5'
what is there in it for ne?" Is there
any citizen or merchant in the CITY of
Topeka who would for moment be-
ueVe that any one OF the agents of the
union companies would pay them goo
per cent more for any article Of ner-
chandise than they could get the same
article for elsewhere, on the grounds OF
sympathy or friendship I think not
Yet. that is precisely what they ask
the insuring public to do on the strength
of friendship and sympathy If the
Union Pacific wanted 81 for a ticket
from Topeka to Kansas City and the
Santa Fe would sell tickets for 81. which |
road do you think the citizens would
travel on. Respectfully,
FRANK s THOMAS