The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-05-25
THE TEXAS ANTITRUST LAW
NY i. A. pETIT.l


tBY l.. A. pETIT)
Austin. Texas, May 24.-tStaT specially
--General Smiths success In securing en-
forcement of the antitrust law has at
tracted widespread attention and stimu-
lated the prosecution of unlawful COM
binations TO control trade throughout the
United States.
In the Western States press and public
have awakened ITO the fact that he has
downed the redoubtabie coal oil monop-
oily which has heretofore dened and walked
through statutes with painful regularity,
aud mighty call por trial of his med
icine IL heard from every quarter.
In the Bast the blow he dealt the San
Antonio gas, Ice, electric light and street
car trusts has been re-eehoed and they
are wiring and writing to him from that
direction to find out how he managed the
job In order that his methods may be
tired there New York City, for instance.
which has fallen into the clutches OF an
Ice trust, has asked for his advice In the
matter OF getting rid Of this unpleasant
addition to its burdens and he has giveE
! il the benefit OF his experience with the
San Antonio concern of the same brood
which Yielded to his attacks in the courts.
In brief, Mr.. Smith is acquiring con-
siderable OF a reputation as trust
smasher. and it locks as II the war he.
gun by him against monopoly is going to
/ spread from Srate Ito State with results
1 equally as gratifying as those obtained
by himself in Texas
~
| While dealing with the trusts Mr.. Smith
has incidentally managed to pay some at
tention to certain fire insurance concerns
whose methods of doing business were not
exactly what might be called straight.
Reference Is bad to certain mutual Are,
storm and lightning insurance companies
| organized without capital stock under sub
division so OF the private corporation act.
1t having come to the knowledge of the
Insurance commissioner that some OF
these associations were writing policies
which very much resembled those issued
by regular companies. the attorney gem
erals attention was called to the mat
ter and he promptly called halt. I'm
der his rulings these mutual policies now
contain a clause making every holder
thereof responsible for his share OF ac-
cruing unpaid losses, thus rendering the
association mutual in fact rs wen as in
name and imposing obligations upon those
paying for it's protection that will cause
them ito inquire SO closely into its stand
ing that 1t Will be unable to continue In
business unless it can make the best OF
showings.
The question OF the form Of policy to be
used by mutual fire companies 10 not the
only one to be settled with regard to such
associations, however, as 1t yet remains
to be determined whether or not they
must not as do the regular companies,
report to the commissioner Of insurance
and pay taxes on premium receipts.
49,
Speaking of fire insurance, Commits
, sioner johnson has about succeeded in
wedding out the irresponsible, wild cat
. aggregations with which the State was
afflicted some time back. He is still hav-
! ing trouble with certain marine insur-
, anoe companies which are doing business
from the outside, through brokers', with
out qualifying or paying any taxes in the
, State. They are carrying large amounts
! on compress, cotton seed oil mill and
: other Industrial properties and can moi
c very well he reached, it being impossible
r to bring than to lime except by requiring
Q the policy holder to pay the premium tax
( ~
. All insurance companies, both Are ant
o life do a splendid business in Texas. col
lecting millions of dollars in premium,
here Take the Equitable Life, for in.
! stance. 1t is probably the strongest con
4 Germ OF it's kind In the United States. 1t:
t reports show that for the first four months
/ of the present year r. H. Baker, it'
5 Texas general agent, led its fifty leading
agents in this country in fhe matter o
Q new business paid for. And this is true
e Of other companies than the Equitable
S Such being the case it is a wonder tina
a Texas capital is not invested In the in
= surance business. Just now there is quite
boom in the promotion OF Industrial en-
terprises with fair prospects OF good re-
= turns. or course such a boom is to bt
y welcomed. but it does seem that 1t woult
= be the part OF wisdom 10 keep at home tn,
a large sums which are annually sent ou
y of Texas In the shape OF insurance Il
n add TO the accumulation Of cheap money
. boarded i'm New York and other financla
- centers, Piled UP here the sums pait
n Eastern insurance companies would east
: up matters considerably and furnish cap
ital for many a project now languishinf
for want of the necessary financial back
s ing.