The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1905-02-10
LOBBYISTS ON HAND.
Believed an Attempt Will Be Made to
Modify the Anti Compact Law.


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 as the
hntl-compact law governing foreign
fire insurance companies doing bust
ness in South Dakota?
This is Il question which is nov be-
ing ASKED by South Dako,ans in gen
eral In anticipation Of such an effort
being made the friends of the measure
throughout the 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.
tor if an attempt is made to modify or
repeal the law and results successfully,
his fee Will be one of the largest ever
.Ilil a lobbyist in the history of South
DAKOTA.
Lobbyist on Hand.
His generous fee, should he be sue
ccSsful. vii! indirectly be paid by the
taxpayers of the state, in higher 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 anti-compact law was enacted by
the legislature of 1903. Its provisions
were 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 Car
land adversely to the companies. has
just been dismissed in the United States
supreme court on motion of the insur-
ance companies, is thought to indicate
panieS to make an attack on the law
in the legislature.
Case Was Hard Fought.
The case was carried to the federal
supreme court bv the companies and
its dismissal on motion of the cOmpa-
MES proves. ii is believed, that they had
given up all hope of being able to have
The decision of Judge Garland reversed.
Thus their only recourse is to have the
legislature either modify the law or
have it repealed outright.
When the anti-colnpaca 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 none did SO.
Notwithstanding the restrictions of
the anti-compact law, the foreign fire
insurance companies transacted a very
profitable business in South Dakota last
year.
The annual 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 500, $780,
S64.76. The total amount of premiums
paid was s617 .2l4S1, and there was paid
in losses the sum of $251 5000, leaving
a balance in favor of the companies of
$425 663.SS, less the cost of doing bust
ness.
The foreign companies therefore got
about 20 per cent. of the premiums
paid, and their net profits We're fully
80 per cent.