The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1905-02-10
ON HAND.
Believed an Attempt Will Be Made to
Modify the Anti-Compact Law.

Sioux Falls. S. D.. Feb. lis an eff
fort to be made during the excitement
attending the closing days of the pres
ent session of the state legislature To-
modify or repeal what is known rs the
~anti-compact law governing foreign
fire insurance companies doing bust
ness in South Dakota?
This is IL question which is ncM be-
ing ask ed by South Dukotans in gem
eral. In anticipation of such aM effort
being made the friends OF the measure
throughout he state are preparing to
rally to the support of the law should
the expected onslaught be made.
The companies are known to have at
Pierre one of the shrewdest of lobby
lists. who is playing for high stakes,
for if an attempt is made TO modify OF
repeal the law and results successfully,
his fee will be one of the largest ever
paid a lobbyist in the history of South
Dakota.
Lobbyist on Hand.
His generous fee. should he be sue
cessful. viii indirectly be paid by the
taxpayers of the state. in higheg in
surance rates. and in view of this all
friends of the ~anti-compact law will be
on their guard and prepared TO prevent
the law being tempered with.
The a~nti-compact law was enacted by
the legislature of 1908. Its provisions
We're very obnoxious to the foreign fire
insurance companies. The fact that the
appeal in the case instituted by the
companies in the United States court
in this city. by which it was sought to
secure an injunction restraining the
state commissioner of insurance from
putting the provisions of the new law
into effect. and decided bv Judge ar
Hand adversely to the companies. has
just been dismissed III the United States
-, - ta, ,,a -, L. 80, ,,N-t -, - ,lN -.,,,
ance companies. is thought TO indicate
an intention ON the part of the com-
panieS to make am attack on the law
in the legislature.
Case Was Hard Fought.
The case was carried to the federal
supreme court by the companies. and
its dismissal IN motion of the compa-
MES proves. ii is believed. hat they had
given up all hope of being able to have
the decision of Judge Garland reversed.
Thus their only recourS is to have the
legislature either modify the law or
have it repealed outright.
When the a~nti-co1npact law was en-
acted several of the foreign fire insur-
ance companies intimated that they
would withdraw from the state as it no
longer would be profitable for them to
continue to do business in South Da-
kota. But non did so.
notwithstanding the restrictions of
the a~nti-compact law. the foreign fire
insurance companies transacted a Very
business in South Dakota last
year.
The annua report of John c.. Per-
kins, state commissioner of insurance,
shows that the total amount of risks
carried by the foreign companies in
South Dakota last year was $39, $780,
S64.T6. The total amount of premiums
paid was S6II.214.S1 and there was paid
in losses the sum of s251, 5000. leaving
a balance in favor of the companies of
S425, 663.SS, less the cost of doing BUSH
ness.
The foreign companies therefore got
about 20 per cent. of the premiums
paid. II their net profits We're fully
80 Der cent.