The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-07-10

Somenting on the foregoing the Journal
oa commerce and Commercial Bulletin
says; 1t will be noted that the losses for
the nrst half or 1903 were over 100000
less IMAM for the same period of 1912 and
more than 100000 lighter than the amount
charseabie against the first half of 1901
AS TO fre loss. the fire underwriters have
Iared reasonably well this year. but the
IAN In security values will unfavora bly al
Iect many OF their statements Still rates
aIe How IN general on paying basis ard
the insurance interest has less reason TO
complain than heretofore"
Ihe Equitable Life Assurance Society Of
New York is repeating its experiment of
last year in holding. at the home Office. a
summer school, made up of young men who
nave just graduated from colleges and uni
versities. The students expenses are paid
oy the insurance company This year the
class Is composed of lao picked men. Great
care was used in selecting the members Of
the class and no one was taken who had
NOT peeh dependent, TO a certain extent,
upon MS own efforts to secure the means 10
cover his expenses while getting his edu-
cauon, and who had not been recognized
as among the best of his class. The self
tbn aan no,f Mnlen becomes characteristic OF
.ne seI-supporting student is one OF the
cnief requisites for success in a life in
sufance agent The scheme adonted by
a,ls insurance company has also been
II is said that an eastern steel CORPORATION
mas made a requisition upon a number Of
lechnlcai schools, Purduce University
s a.nUns the number, for large number Of
the i graduates. who are thus brought to-
setner ana, after several weeks of instruc-
ZION and examination, are assigned 10 po-
s s. for which they are qualified or are
IL Ho' uo 10 the requirements.
ky
The field men who represent the fire insur-
ance companies in Indiana hald an fr,nor-
,ant meeting last Monday to review the
work already accomplished in the rerating
OF the state according to schedule. and 10
make plans for the completion of the work
In the entire State. Already nearly one
hundred Indiana cities and towns have
oeen rerated, and in over eighty which
Were anected by the fiat advance of q per
cent on certain risks in March, 1902 the
new rates are in effect and the advance has
- III aprogated. The field men report that
the new rates are somewhat higher than
those IN use before the fiat advance referred
70, out the schedules were preDarcd with
s .nIs result In view. as IL was demonstrated
,ilat certain classes were being carried NJ a
loss TO the insurance companies and AZ the
expense OF certain other classes The new
scheduie rates are being written whore COM
psntNd " VIII Iess friction than might be tx
H r 10 attend such a far-reachine change.
w mere In few cases. serious protests have
arisen. promp6 attention and tho correc-
spn ., possible discrepancies have brought
ABOUT harmony. The advantage of the new
system OF rating by schedule is being rec
osniked In all parts OF the State as IN is
readily seen. by this method. where i'm
- vssasnss can De made In risk and a
ooIttsiohung reduction in the rate can be
secured. This will work to the irnmediate
advantage OF the State I'm general as everv
precsuticn reduces the FIRE hazard just that
neis<n rate ''A, '',s ~