Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-10-23

iCudahy packing plant LOO l.oo
EC. Shenkberg Co. 80 l.4o
| Tolerton & Co. .......... 80 LAD
| Tackaberry Co. .......... 80 l'So
Howell Warfield Co. $500. 50 LOU
Knapp & Spencer Co. 1900. so l.2o
davidson Bros. ............ 1.5O 2.OO
r. S. Martin & Co. 100000. LILO l.0o
Pelletier company ........ Lbs 1.oo
The Tribune says
A general reorganization of insurance
ratings has been made in the city IN
1.-THE last year, resulting in general in
crease of business risks and a reduc-
ton of dwelling house rates. The net
effect, insurance men say, is an in
crease of the burden which insurers
must pay. No insurance man has been
found, however, who will say what the
increase amounts to.
Increases of rates have attracted at
'tention Of business men to the effort OF
Burlington people to induce Governor
Cummins to take action to dissolve the
insurance combine in Iowa. There is
no denial that such combine exists.
Insurance. agents admit that they are
provided with rate books, rating eV-
cry large risk in the city. These books
are published at large expense, for eV-
cry city in the state. They come to
the agents by mail, with never word
to indicate whence they come. They
are published by II. Bennett, Cedar
Rapids, who is presumed to have no
connection with the insurance COM
panies. Yet Mr.. Bennett receives not
a dollar of pay from the agents who
receive his book in the mail.
Who pays for these books?
If the insurance companies pay Tor
them and have them furnished by Mr..
Bennett to the agents, 1t is viola
ton Of the Iowa anti-compact insur-
ance law, passed some seven years age
and a dead letter ever since.
If tie insurance companies have any
agreement as to rates. it is a violation
of that law, and the companies are
liable to heavy penalties.
The insurance man permitted hts
caller to look over the little book. II
purported to be an Insurance Rate
Book Of the City of Sioux City, pubs
lished by H. Bennett, Cedar Rapids,
and containing the imprint Of the AL
lied Printing Trades of that town.
There We're 273 pages in the book,
which was about by Z inches in size.
1t contained a rating of every piece
of business and manufacturing prop
perty in the city, the agent said. II
was arranged by streets; a description
of each piece of property is given, the
business by which it is occupied, and
the rate. One column gives the rate
to be charged on building, the next
the rate on stock. 1t was bound in
soft leather, printed on very strong
paper.
How much would such book cost??''
was asked of a printing contractor
DO you want it printed""" he asked
No; only want an estimate on it,
How many copies?"
Fifty"
1t would cost about SO a page, 81
around $500 for the book" replied the
printer.
Every insurance agent in Sioux City
has such book. They don't pay
cent for them
Every agent in every other city in
the state has one. They are all pub
lished by Mr.. Bennett. Nobody seems
to pay for them. The companies re
quire them to be used in determining
rates.
The Iowa Law.
Here is what the Iowa law saws on
the subject of combines or agreements
to control insurance rates:
Section 1854. Combinations. II
shall be unlawful for two or more fire
insurance companies doing business in
this state, or for the officers, agents or
employees of such companies, to make
OF enter into any combination or agree
ment relating to the rates to be charged
Tor insurance, the amount of commits.
slons to be allowed agents for procur-
ing the same or the manner of trans
acting the fire insurance business with
in this state; and any such company. /
officer agent or employee violating this
provision shall be guilty of a misde- |
meanor, and on conviction thereof shall
pay a penalty of not less than 500 nor
more than $500 for each offense, to be
recovered in the name of the state for
the use OF the permanent school fund.
(26 G. A., Oh. %. Sec. ~
Sec. 1865 Revocation of authority. |
The auditor of state. is authorized to /
summon before him, for examination
Under oath. any officer, agent or em-
ploye of any such company, suspected
Of violating any Of the provisions of the
preceding section, and, On complaint to
him in writing by two or more resi-
dents of this state charging such com I
pany under oath upon their knowledge
Dr. belief with violating the provisions
of the preceding section, he shall sum
mon any officer, agent or employee of I
said company before HIM for examina-
ton under oath; If upon such examine
hon, and that of any other witness pro-
luced and examined, he shall deter
mine that such company is guilty of a
violation of any of the provisions of I
the preceding section, or it any such
officer, agent or employee after being
July summoned shall fail to appear or
submit to examination, the auditorj
shall forthwith issue an order revoking
the authority of such company to
transact business within this state, and
t shall not thereafter be permitted to
10 the business Of fire insurance in
his state at any time within one year
Lherefrom
Sec. 1856. Appeal. Either party
nay appeal from the decision OF the
auditor, made pursuant to the preced-l
49, n