Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-08-14
LOCAL FINANCIAL NEWS.

It Is probable that the discussion over the
rates charged by fire insurance companies
for placing policies on properties other than
residences Is to be revived In the near
future. This is not unusual. as 1t frequent:
ly happens that differences of opinion be-
tween the insurers and the insured as to
the charges made for protection from fire
are developed. Under the present arrange
ment the schedule Of commercial insurance
Is prepared by the Middle Department,
which Is an association of the leading fire
insurance companies doing business in this
deal of complaint heard among insurers in
regard to the cost Of insurance, but some
times individuals feel aggrieved.
There is a very general feeling among
property owners here that insurance rates
ought to be low in this city, for the reason
that, as the record shows, the hazard is
comparatively small. Strenuous objection
ID made to placing property risks in this
CITY on the same rate level as prevails in
other cities. and 1t Is claimed that this is
not done under the schedule system, which
Is supposed to be a scientific balancing Of
rlsKs and rates Some people. however,
are inclined to be skeptical in regard to the
accuracy of the schedule system, but at
any rate 1t allows greater latitude then a
fiat rate.
Recently. however, the advocates of lower
rates based on the slight fire losses have
received something Of check, for the rea-
son that the statistics Of fire losses for the
past three months show an increase OF
about 10 per cent in the total losses as
compared with corresponding period OF
last year. Last year was noted as being
specially free from disastrous fires and this
year the same record has been maintained
until the last three months What effect
such figures will have on the rate discuss
sion Is a question.
The chop
nounced in the control of the Seaboard Air
Line has local interest, for the reason
that the cars Of this company come into
this city. The company has no terminal In
Washington like the Southern, the d. and
u and the Pennsylvania railroad compa-
niles. In the sense that II has an INDEPENDENT
Ine. 1t however. Is part owner OF the
washington and Southern railroad, which
extends from this city to Richmond. and
has the right. which 1t exercises, of running
its trains into this city. Its true terminal
trolling the line from Richmond are the
Atlantic Coast Line. the Chesapeake and
Ohio, the Southern. the B. and o. and the
pennsylvania. six in all.
1t is not probable that the change In
management will result In any radical
modification in the traffic arrangements
except SO far. Of course. as Improvements
and betterments will be made, and in that
sense the building up of one of the six
steam roads entering this city is of decided
advantage.
The transactions on the WASHINGTON
Stock Exchange today were not numerous,
and as usual the lack Of buyers was bal
anced by the absence Of sellers.
The rest OF lot OF some fifty shares of
Union Trust and Storage stock was sold
without causing any further decline in the
price, as los was obtained. Members of tia
board Of directors of this company express
confidence that a per cent dividend will
be declared to commence with January l
next
The sum of SIP was paid for ten shares
OF American National Bank stock, and the
same purchaser took ten additional shares
that were offered at $115.