The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1899-10-30
THE CONTINENTAL'S FIGHT
Against the Local Agents
of Topeka.
IRON a Topeka Capital Advt.I

ance company in advertising TO issue
It's policies on Topeka properties at
merely nominal prices. calls attention
to a circular, dated July IA. 1899, issued
by the Continental Insurance company
over the signature of its president, Mr.
f. c. Moore. The circular addressed to
local agents and is. in effect, an appeal
to the agents to use all possible effort
to stem the downward tendency in
rates. The experience of the Continen-
tai during the first half of 1899 is stated
by President Moore in the following
words:
THE insurance account for the six
months shows loss; the losses and ex-
penses incurred exceeded the premiums
earned by over 100000"
No wonder Mr.. Moore thinks rates are
too low. The circular continues as fol-
lows:
I'VE certainly are not alone in this
experience; in fact, we are led TO be-
lieve the Continental has Jared better
than most of the companions. all Of
which goes to show that the reduction
of rates that has been proceeding so
steadily, must cease, or the result will
be a survival Of the strongest, in which
event, of course. the Continental will be
one of the few survivors. We trust and
believe we can rely upon you for doing
your share of the work in stemming the
downward tendency of rates
I'VE trust you will do all in your
power to educate the policy holders of
your agencies to the situation, and that
you viii also do what you can to ex-
plain to the state insurance officials
that the present tendency Of legislation
opposing local boards and intelligent
rating bureaus is directly against the
interests of property owners them
selves, in that it will. ere long. leave
so few companies in the business and so
reduce competition that it will be diff
cult to secure sufficient insurance or
equitable rates. When a company like
the Continental loses over 100000 in
SIX months, you may be sure that the
average insurance rate of the country
IS too low and the average burning line
too high. The company has loyal and
capable agents. an efficient corps of
special agents and a thorough system
OF inspection and supervisiOn-the rates
are simply too low
This official declaration can not fail
to create an inquiry with thinking
minds as to why it is that a company
whose insurance account shows a loss
Of more than 100000 since January 1,
and whose president says, 1.-THE rates
are simply too low should declare it
self ready to open a rate war in a COM
munity the size of Topeka. Its motives
can only be surmised, but it is not I'M
reasonable to suspect that they are:
First-The satisfaction of private
malice, regardless of any injury which
may result to private individuals: and,
second-a destruction of that active
competition which, in insurance as else
where. Is the life of trade 1.-The sur
vival of the strongest means simply
the ultimate restoration Of higher rates
as well as creating difficulty for large
insurers in securing sufficient insur-
ance- This feature of the situation
should have careful thought
AS to the first reason suggested. IT
should be explained that the only per-
sons who can be hurt by the Continen-
tals action are the local agents Of To-
peka- The rate war which the Cont
mental seeks to carry on, if permitted to
be successful, will cost each local agent
personally, in the way Of commissions
which he must pay back to his compa-
=
citizens Of Topeka protect the agents
the friends and fellow townsmen. or
Will they assist a nonresident company
with a corps of imported strikers to
work malicious and wholly unjustida-
bic injury to those who, by the unwrit-
ten laws Of business reciprocity, as well
as long friendly association, are fairly
entitled to patronage and support. The
citizens of Topeka should take a pleas
ure in showing the Continental Iusur-
ance company OF New York; that such
motives as those which seem to be act
uatlng II IN this move are unworthy the
consideration or support Of the citizens
OF Topeka as against the interests Of
the local agents of this city
The names of the local agents against
whom this action of the Continental In
saranee company is directed are as fol-
lows:
w NJ. FORBES.
.. W. NELLIS & SON.
ELLIOTT & CRISWEIIL
MANSPEAKER & HENDERSON
GROLL & M'KITTRICK.
c. D. MYERS,
BENEDICT & co,
w. s BERGUNDTHALS
WALTER T. NOBLE.
W. H EASTMAN.
J. NJ. BRIER,
GILLETT & GILLETT
A A. RODGERS.
GOSSETT g. BLAKELYr
HOMER c. BOWMAN,
OSCAR BTSCHOFF,
ROLLIN NICHOLS
r. B. MINISTER'S
7 d. HUMPHREYS
PAYNE & THOMPSON.
W g. STEPHENSON,
JAMES r. GRIFFIN
a. =. WENTWORTH
y. = LOCKARD.
ANA othar&