The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1903-07-22
Insurance on Merchants Stocks
and Buildings Raised.
Schedule for Topeka Dwellings
Will Be Lower.
ORDERED BY ELDRIDGE
Rate Book" Proprietor Is
sued Bulletin.
viii Not Meet With Favor
Among Business Men.

n uIOuS DuStHcSS MOHs
According to the new insurance rate
book just issued for the city of To-
peka. it will cost less to protect DWELL
ing property from fire loss than it has
in the past. A level reduction of 5
cents hundred. or so cents a tfous-
and, has been made on the dwelling
house rate. The former rate of 40
cents is reducted to So cents, with GER
tain penalties added for defective con-
struction.
To offset this reduction, the new rate
book has increased the rate on a good
many merchants stocks and business
blocks in the city. The increase is
from 5 cents a hundred up, depending
on the character of the risk.
The changes made by the new rate
book are the talk of the hour among
insurance men. 1t amounts to a gem
eral reorganization of insurance rates
in the city of Topeka. For some time
st has been thought by the insurance
men that rates were not equally as
sessed and the new rate book attempts
to correct the existing errors. A web
known insurance man said today:
For some time there has been q
camille risks in Topeka are being car
ried at too low a rate. Dwellings. on
the other hand, have been assessed too
high. If a fire starts in the business
part of town, the loss is liable to be
heavy, while the loss on dwellings is
not likely to be large. Owing to the
excellent fire protection, the rates on
dwellings can be lowered, and still
keep the companies safe"
There is considerable objection, or
Will be soon, among business men
when they find out that the rates on
their buildings and stocks have been
lifted. They think that the companies
have combined to raise mercantile rates
simply because of the general high
price of everything.
Charles b. Eldridge, who gets up the
Eldridge Rate Book for the government
of rates in the city. said today in speak
ing of the new rate sheet:
We have issued a bulletin changing
certain rates in the city. The rate on
dwellings is reduced from 40 to So cents,
but certain additions are made to this
in case the building lacks paint, or is
not built on good foundations, or has a
furnace within three feet OF the joist, or
any other elements of defective con-
struction. 1t gives the well constructed
buildings the advantage of a cent re-
duction, and makes the poorer buildings
pay about the same rate.
There have been few changes made
in the valuations of business buildings;
only such as were made necessary by
changes in the construction of the
buildings. When doors were cut, eX-
posing the building more the rates have
been raised. There has been a general
advance in the rates on stocks of mer-
chandise 1t has been found that the
losses on merchandise have been ex-
ceedingly heavy throughout the coun-
try. Stocks are subject to much dam
age by water as well as fire. The loss
has been 70 per cent. whereas it has
hepn fOHn6 nv aXnnriGnpa
loss exceeds So per cent the companies
cannot carry the insurance al a profit
The insurance men seem to be we'll
satisfied with the change. We simply
try to adjust the rates so that everyone
win have fair and equitab BILE chance"
There is funny little story going the
rounds about the way Sam Radges
squared accounts with Charles Eldridge
for the increase in rates on Radges' Of
flee block on East Fifth street where
Eldridges office is located. AS soon as
Radges heard that the new rate bull
letin has lifted the premiums on several
Of his properties in the city he sent a
polite note to Mr.. Eldridge stating that
owing to the great prosperity of the
country and the recent increase in the
price of all commodities, including in
surance, he felt obliged to serve notice
that in the future Mr. EIdridge's rent
would be raised IS a month. L figured"
said Mr.. Ranges, that the $50 a year
would just about let me out even in this
deal"
INSURANCE COMMISSIONERS RE-
PORT.
Charles H. Luling, insurance COM
missioner, is about to issue his annual
report. 1t will show the total fire risks
written in the state are S21S. 293, 255. The
average premium rate is S1.19 and the
per cent of loss to premiums paid is
1888 cents.
Including both fire and life insurance
companies, there are 2O9 companies
authorized to do business in the state
They are divided as follows:
Fire insurance companies ........... 90
Life insurance companies ........... Al
Casualty insurance NEUTRALITY-SUSPICIOUS.. q
Mutual fire companies. ................ Is
Mutual hail companies. ............ 2
Fraternal beneficiary ............... 81
The above companies paid into the
state treasury. in the form Of fees. the
sum of Sl6609l61 from January l, 1903,
to May !, 1903
The life insurance policies are divided
as follows: Old line life. 80 7O9 policies.
calling for 500: fraternal insur-
ance. lSS,002 policies. calling for S2S7.-
l3O,45l. This is a total Of 1910. ISL 259 life
insurance in the state
One of the features of the report is the
heavy loss sustained by fraternal instlr-
ance orders. The report shows that the
following is a schedule of business done
in Kansas: Premiums received by fire
insurance companies, s., $50. 442; losses
paid, 1,454,S42; life premiums S25S6342:
losses, $3.50 593: casualty premiums
S4O321S; losses, S144,092: frsternal prem
iums, S2,SO4967 losses. 81. SOC, 4O5. The
losses of fraternal societies were s9Oi
43S more than the premiums received.