The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, 1902-02-28
ADVANCED INsURANE RATE
Leading Companies Decide to Increase
Premiums 25 Per Cent

The great event in insurance is the &C
ton of officials of leading companies at
meeting in New York Feb. IS, in advanc-
ing rates of fire insurance Is per cent.
and upward. The increase, which APP
plies to the entire United States, with
the exception of the Pacific coast and
New York city, covers all mercantile
stocks, frame store buildings, manufact-
uring risks and special hazards The
increase was made imperatively neces-
sary by the terribly heavy losses involv-
ed by the Paterson and Waterbury fires,
following bad year in fire insurance
circles
The resolutions adopted at the meet
ing are as follows:
That after considering the present
condition of the country as affected by
the large and numerous fires which have
occurred during the past three years,
rendering the business Improbable and
forcing the withdrawal of many com
panies, the hardship of the situation be-
ing emphasized by the conhagrations of
the last few weeks, with no prospect of
relief, they are Of the unanimous opin-
ion that not only the good of the COM
panies, but the safety of the public, de-
mands that rates should be Immediately
and largely advanced, and that unless
such advance is promptly made the COM
panies will be forced to withdraw their
idemnity. They therefore agree that
throughout the country rates shall be
advanced on mercantile stocks in all
buildings except such as are occupied as
dwellings above the grade floor and on
frame store buildings; also on manufact-
uring risks and other special hazards
which have not been rated under revised
and approved schedules within one year.
It was also agreed ito advance the
rates on all risks 25 per cent and upward,
as may be equitable in each case, and
that this advance shall 60 into effect i'm
mediately and continue until such risks
can be specifically rated under proper
revised and approved schedules" This
decision of the chief officers of the com.
paDies will be communicated to their
general. state and special agents and
through committees to the various asso-
Citations in the western, southern, New
England and middle states associations.
1t was voted that agents would not be
permitted to cancel and reWrite policies
while rates are being readjusted in order
to avoid the advance.
1t is the hope of fire insurance men
that the increase in rates will serve to
rehabilitate the business and put it on.
a paying basis.
-WANTED-A tenant, with or without
capital, for farm of 240 acres in the
town of Porter. Address VIM. B. Porter,
I'll Milton Ave-, GAINESVILLE, Wis. 10
The merchant tailoring establish
ment of T. J. Zeigler of GAINESVILLE, Wis,
will be open about the 18th of the month
when he viii be pleased to have Edger
toms good people pay him visit. His
main street store is being handsomely
decorated for this department and he
will have an establishment second to
none in the state. Nothing but the
highest grade of garments will be turned
out, iDsuring every customer the same
satisfaction as he would be able to get
from the best city tailors. The exact
date of opening viii be announced later.