The Savannah morning news., 1902-02-23
MAY Be DECREASED
sAvANNAH's CHANCE FOR CoNCEs-
sIONs IN INSURANCE RATES.
INCREASE CAUSED A KICK.
MIR. w. H. DANIEL THINKS PROPER
ACTION MAY SECURE REDRESS.

The Increased Rates on Merchandise
Stocks, Frame stores, Manufac-
turers Risks and other Special
Hazards, Determined Upon by
southeastern Tariff Association,
Had Been Preceded by Similar Ac-
ton Taken in Nc. YOrl-AlI the
Prominent Companies Represent
ed There-Immense Fires Have
Caused the Jump in Rates-Savan-
nah's Fine Record May Serve tn
Help Her.
If an earnest and concerted effort be
made by Savannah merchants and
others interested, reduction of the
advance in insurance rates on certain
risks. declared by the Southeastern
Tariff Association may be effected so
far as Savannah is concerned.
This opinion was stated yesterday by
Mr.. w. H. Daniel, one of the most
experienced and best posted fire insur-
ance men in the city. An Atlanta dis
patch to the Morning News an
nounced that the tariff association had
raised the rate of premium on mercan-
tile stocks, frame store houses, man
ufacturers' risks and other special
hazards not rated under any approved
schedule within the last twelve months
20 per cent.
Mr.. Daniel said that this action had
been preceded by similar action taken
at a meeting of representatives of the
executive officers of all the prominent
fire insurance companies in the coun-
try, held in New York last Tuesday.
A resolution similar to that passed by
the Southeastern Tariff Association
had then been adopted and the tariff
associ ations in all parts of the country
had been urged to take similar action.
The increased rates adopted by the
New York meeting were to apply in
all portions of the country east of the
Rocky Mountains, with the exception
of New York city, and its immediate
vicinity.
Mr. Daniel does not altogether APP
prove the action that has been taken
and does not believe it will rebound
to the best interests of the companies.
"Of course" he said, 1.-The advance
has been made on account of the inn
mensely destructive fires that have re-
Gently occurred, a number of which
have done damage amounting to- mil
lions of dollars. These large fires, like
those at Patterson, N. j., Waterbury.
Conn. and Jacksonville, have been so
fearfully destructive that fires of
smaller, though yet of large destruc-
tiveness, have escaped public attention.
At the same time smaller fires have
gone on increasing day by day the
1OSSas Of tha pOonnaT1iaS and If ic nm
doubtedly true that these have reached
a large amount. The fire in Jackson
vile, for instance, destroyed the profits
of seven out of ten insurance compa-
MES doing business in the South.
Nevertheless, the companies are not
in an unsafe condition. and are per-
fectlv we'll able to meet their liabili-
ties. To raise the rate on certain risks
everywhere practically in the country
by so much as 25 per cent. looks pan
icky' and in this regard does the COM
panies an injuctice.
"Savannahs record in fire losses for
the past few years has been good and
steadily getting better. The record for
last year was better probably than the
city has ever been able to show in the
past. 1t is not fair to Savannah to
include her in an increase caused by
fires occurring in other parts of the
country.
II believe the Southeastern Tariff
Association to be composed of reason
able men and of just men-men who
want to do the right thing. l believe
that if they were properly approached
a reduction in this increase, so far as
it affects this city, could be secured"
The increased risks affect principally
the merchants and manufacturers of
the city, as the number of frame store
houses is relatively small and their
relative value smaller. No action has
yet been taken by the merchants to
secure a reduction of the increase, but
there were many loud and vigorous
kicks against the increase heard on
.tr:a.t- ..f tLL. ni4s-