The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-03-23

/ ,osses for 1901, instead Of being lighter
/ thuu the preceding year as shown by the
lead lines of your dispatch, were IL per
cent greater
Now we come to the statement that "the
companies as whole did very profitable
business In this State during the year
Ehl' The average percentage of expense
In the United States closely npproSinLtes
lU per cent In Texas u WILL including
HE homo Office expense, closely approNt-
mate 30 per cent with q loss ratio Of G5
per cent uud an expense ratio OF 30 per
cent must confess that the una.ded hui
man Intellect fails to see where the prof
liable business comes In
Leaving out the reTelpis ana losses or
retired companies Whih are somewhat
speculative we sim have loss ratio Of
Oo per cent exhibited by the companies re-
naming In the state Ald 80 per cent ex-
peuse ratio leaving rne magnificent prof
At Of . per cent No respectable business
10 Texas is coutented with so small a
profit.
The most intelligent aud best trained I'M
dcrwriters hold the opipion that the rates
ought to be upon Oasis which would
give the companies ap annual profit of 10
per cent on the business written--d per
cont for dividends for stockholders and 5
per cent to be laid away as a surplus for
use In times Of great stress like the pres
ent, aud thereby prevent the necessity for
the sudden advance in rates which was de
mandcd by the condition of the companies
immediately after the Chicago fire and
Immediately after the Boston Dire. and
which seems to be- imminent ut this time.
On the general subject OF insurance
would Ike Ia state that the companies.
have lost heavily taken rs a whole, for
tile last three years From the state
ments of insurance companies compiled
from the Connecticut fire Insurance report
Il Is clearly shown that for three years
1889 1900, and 1901, the net loss to com
amounted TO SIC jO1,O14 The great con
nagratlon Mt Jacksonville, Fla. swelled
the records Tor 1901. and for 1909 we have
EfN u Ita N1.t.n faI M FNp
the IRE losses, due to the CONGREGATIONS 1t
waterbury, Conn, and Paterson, y. j.
ne total tire losses, due 10 HOlNDLU
The total IRE losses for the first two
round hgores, against S25,00o00o for the
same period Of 1901. IL the first two
months arc an indication " what may he
expected for the balance Of the year. com
panies must have a largely increased vol
umc of premium or go 10 the wall
The first consideration demanded OF nm
insurance company is sovcncy Indemnity
that does not indemnify Il worse than use
less. The times are critical ana the com
pnn!es have found 10 necessary to increase
the receipts from premiums throughout the
United states NV own belief Is that intel
lgent, conservative property owners every
where IN this broad land are willing to
pay fair price fOt the protection guar
Onteed, That is all the Insurance compa-
MOS ask, The seventy companies now oper-
ating In this State show loss record in
this state for twenty years OF 65.3 per
cent In other words. they have operated
In Texas MS whole without a single dol
lar proat Tue records OF the state bear
me out fully 10 this statement The COM
panles ought TO have slightly better rates
not only throughout the United States, hut
In Texas, to the end that they may be pre-
who are dependent upon them for financial
salvation, whether the next coudagration
comes In New York city. Chicago New
orleans Dallas. Houston or Galveston.