The age-herald., 1901-02-21
REDUCED RATES
 FIRE INSURANCE
Expenditure ofS1l,000 Make
 Birmingham First Class
THE LONG BELL RIDICULEO
South Highlands Gets Reduction-Fire Chief Mullin Reports Cost of lm- provement-Gen. Clark Points
 Out Dangers In Measure.

"The Southeastern Tariff Association has reduced the fire insurance rates on property on the South Highlands of Bir- ringham from a basis of one per cent. to basis of three-fourths of one per cent, the conditions of exposure of risks remaining the same," said General Louis V. Clark, of l.. V. Clark Co.,, leading insurance agents, yesterday.
 This change was promulgated this morning. and was due to recent inter views in the Age-Herald on the subject, tho fact that the opening of a fire sta ton on the South Highlands entitled the owners of property in that district to a reduction of the basis of fire premium having been inadvertently overlooked for the time being.
 Chief Mullin, of the Birmingham Fire Department, reported finally this morn ing that an expenditure of $11, ,000 in pro- viting two additional fire stations and other fire-fighting appliances would meet all the requirements of the Southeastern Tariff Association for placing Birming- ham in the list of first-class cities as to fire insurance risks, and would en- able property owners to insure to full value and reduce the cost to property owners and business men of Birming- ham about 33 per cent.
 This $11,O00 is very trifling sum in view of the benefits to be derived, the entire protection of property and at the same time the saving of about $3000O a year. Macon, Ga., was required to spend i,, ,,.1a f1 rraf aro doe tv1 snrance rating. and that city paid the money and got what 1t desired. Au- gusta, Ga., was required to expend $15, GOO to secure the f1rst-class rating, and spent 1t and got that rating.
 ''I nave not read the Long bill in re- gard to fire insurance now pending in the Alabama Legislature, and to which the Birmingham Board of Trade and Col onel Altman appear to have given their approval, but the effect of the bill as understand 1t to be framed would be dis astrous If enacted Into law. It would invite competition; 1t would drive com petition away. Merchants would find 1t impossible to get satisfactory insurance, and therefore their credit would be seri- ously damaged; and property owners likewise would be without adequate pro- tection. There are some companies kept out of the Southeastern Tariff Associa- ton and yet do business in Alabama; but most of the strong companies would be driven out There would be an insur- anee war and 1t would not result happily for business men and property owners in the State; 1t would most seriously handi- cap merchants by lowering, and per- haps in many instances destroying their credit.
 Some such law as the Long bill pro- poses was passed by the Arkansas Legls- lature. The results were disastrous, and that state Is still greatly suffering from the effect of such legislation.
 Texas meddled with legitimate and normal business conditions respecting fire insurance, and the merchants and proper ty owners there still lament the blunder.
 'The case of Mississippi. Alabama's s next-door neighbor, is familiar to every body who has given the subject any real attention, and was recently dealt with In an Age-Herald interview. That State started out on a radical and bitter fight against the Southeastern Tariff Associn- ton, and the practical result Is that now If Mississippi mans property or stock of goods Is insured at all he must pay 25 per cent greater premium than is paid by an Alabama man.
 ''The Long bill Is not a common sense business proposition, and If 1t should be- come law 1t would be deplorable for the business interests of Alabama. The Bir- mingham Board of Trade and Colonel Altman are trying to cut off their own noses to spite their own faces. It is ab- surd."