Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1900-05-05

of the actual loss. True insurance is I
indemnity. Nothing in excess of actual
loss should ever be collectibie. In order
to reduce the loss to the minimum,
there must be some inducelnent for the
owner Of the property to throw waterl
rather than oil on incipient fires He 1
should be lna.deitosrealize that careless
ness, defective flues and piles OF in
stammable rubbish are not wholly att
the risk of his underwater.
II am aware that it is urged that in
.surance companies can protect them
selves bv raf,laing over Insurance This
is more easily declared than demon
Estrated. II any one thinks otherwise
let him appraise any score of buildings
within his knowledge. and fix anl
amount equitable between insured and
insurer. Or, if this prove too difficult
value property without first examining
plans and making computations. In|
practice, farmers and especially those
with poor buildings are made to suffer
more from this class of legislation than
those living in towns where the prop
erty can he more readily examined, and
readily obtainable.
insurance companies even now
dread over-insurance. and l think it,
safe to challenge the friends of this
measure to produce an insurance agent
who is not repeatedly cautioned, and
Iwarned. and entreated TO protect his
company against excessive valuations.
|! lam not so certain that agents always
obey these instructions. for necessarily
i.their compensation must consist of
commissions. Very few agents can
make living writing insurance for one
company. They can only succeed by
representing number Of companies,
and representing all on commission.
1T has also been urged in defense of
this measure that 1t would do no harm
Ito give it a trial. and if it be found to
work badly, then repeal it. But the
lfact confronts US that in states where
Asimilar laws have been tried, however
iobnoxious, in only one instance so far
as can learn has a legislator been
found willing to make a fight for its re-
|peal and face the inevitable partisan
accusation of working in the interest of
Icorporations. The legislature of Mis-
souri, exempted local mutual associa-
4 tions from the effect of the law for the
relief of the farmers of the several
|counties Where such associations ex-
listed. but no one possessed the temerity
to urge the exemption of Insurance
a companies generally from its effect in
behalf of the farmers in such counties
4 as have no mutual associations, and are
now, in many cases. una BILE to secure
4 insurance a. any price.
i II would promptly sign the bill if
4 We're not convinced of its evil effect and
Iif / We're not quite sure if once placed
J. upon our statute books it would remain
n forever. Ii rates We're to gradually adj
a vance, as they surely would, popular
.iopinion would charge the companies
II with having formed a combination
/ Few would be ready to admit the ele.
: ment of seif-defense. That bill is no
5 rejected in behalf OF Insurance, but be
8 cause such investigation as have beel
Il able to make convinces me that it in
4 Ecreases insurance rates far out of pro
lIportion to any possible advantage tina
! may be gained thereby
; Governor Shaw then gives an extend
{ ed history of valued policy legislation
/. showing that governors of Pennsyl-
!, vania, Illinois, Colorado, Utah and Ne:
-tvada vetoed bills similar to the lowe
Il law and quoted from their veto mes
: sages. He also shows that of the large
2 number Of such bills introduced il
a the great majority hav,
iIfailed of passage. In conclusion h,
$ says:
"A -srhe proposition to amend the con
y ].stitution so as to provide for biennia
$ instead of annual elections seems TO b.
: conceded on all hands certain of adop
eltion. This will result in the twenty
Z ninth general assembly, composed o
Z the same men who constituted tn
rtwenty-eighth ! general assembly. an,
= the present chief executive will be con
4 Itinued in Office pending that session l
). upon further investigation 1t shall b
: deemed wise to &re-enact this bill,
will not be necessary to pass it over
: Iveto. for it Will be promptly signed.
simply avail myself of my prerogativ
: and re-submit the bill to the same me
: who originally passed it. that the.
:, pending the delay, may make such in
: aIdividual investigation as may b
= deemed expedient. and thereafter tax
:. such action as shall to them seem wis
for the best interest of the people G
. this commonw ealth.
!, In an appendix 10 the Veto messag
Z Governor Shaw gives large nunlbe
. of affidavits showing the increase {
rates in states having valued polio
e laws in force.
d Fighting in Philippines.
y Manila, May 5-Hardin's expedite
e| recently landed two companies of III
+ Twenty-ninth Infantry on Island Ma
n rinauque The troops have alread
8 taken four tnwne without opposition
II the few armed insurgents encountere
taken four towns without opposition
9 company to garrison the island. the 9,
= pedition proceeded to Masbete.
I The cable to the southern Islands
n broken ard details of the recent tigh
u ing are not obtainable at present.
e To Meet Sucz Canal Rates.
l. San Francisco, May 5.-The orient;
IS agents of the various trans Pacif
~ steamship companies have agreed
le conference to act jointly in the futul
" in making rates against the Suez can;
lie agents in China acting as one body8a
l. the agents in Japan as another. tt
Id object will be to always meet all rate
IS but not to cut them more than enoue
ID to get the business. No agreement h;
Id yet been reached in regard to incomir
+? cargoes