The Tupelo journal., 1906-05-18
GOOD CHEER FOR
SAN FRANC|SAMS
INSURANCE COMPANIES WILL
SOON SETTLE LOSSES.
MONEY WILL BE A ooDsEND
1t VIII Put the People ON Their
Feet and Materially Help the
Banks In the Transaction
of Business.

San Francisco, May 10.-Financial
interest, Wednesday, conferred in the
announcement made by the insurance
companies that in the immediate future
they would pay losses Of the fire suf-
ferers. 1t is believed that most of the
money will be put into general circula-
ton, and when it is distributed will
relieve the people of San Francisco as
no other means could.
Welcome News.
This news vas welcome, not only to
the policy holder, but also to the banks,
that have been doing their best for the
public with the at their i'm
mediate command, necessarily limited.
The announcement was official to the
extent that it was given to the sub
committee of the citizens general COM
mittee and duly reported at the general
committees daily meeting. The an
nouncement was received with ap-
plause, news from the insurance inter-
ests having been awaited with much
anxiety.
Nothing Could Do More Good.
what will he the effect of the pay
ment of this insurance money!" was
asked Mr.. James D. Phelan, chairman
of the finance committee.
Nothing could do more good" he
replied. when the money is paid
Dat to the people it will put them on
their feet 1t will bring about an early
resumption of normal conditions. The
people want money to buy what they
need, and the payment of these many
millions of dollars will greatly assist
the banks. What is more, the circula-
tion of money will be Of great value
TO the banking interests"
Salvage Operations May Proceed.
With their announcement that the
losses will soon be paid, the insurance
interests has also made the conces-
sion that salvage operations on proper
ty swept by the flames may be proceed
ed with.
Policy holders may save anything
they can find without fear of risking
the loss of their claims for insurance.
Wages For Public Employment.
San Francisco, May 10.-At the meet
ing of the reconstruction committee,
Wednesday, a resolution was adopted
declaring that the wages for public and
private employment at ordinary and
unskilled labor should be $3.50 for nine
hours. The resolution was adopted.
This rate has been fixed by the Build
;,p Trodoc Co,roi1
Suggestion to Employers.
Employers, pay your men some
thing at least daily, so that they may
be able to pay for their meals" is the
request made by Gen. Greedy in ask
ing the cooperation of the business
men of the city in restoring normal
conditions.
1--WE are establishing 15-cent kitchens
all over the city," said Gen. Greedy,
'and if the men employed could have
their wages promptly paid it will
greatly assist in the work of relief.
1t will put money IN circulation and
help the entire business community to
get started again. We have cases
where application is made for relief by
men who are at work. They say they
would much prefer to buy their meals,
but they are not being paid. Wednes-
days applications for relief, however,
showed a decrease of 10000"
Will Treat POlicyholders Fairly.
San Francisco, May 10.-An under
standing as to what the insurance COM
panies propose to do has been obtained
by the subcommittee of the committee
on Insurance at a meeting with a COM
nittee from the fire underwriters ad-
justment bureau. The statement there
made was in brief that the insurance
companies would treat policy holders
fairly; that no attempts would be made
to take advantage Of mere bubbles or
t~echnicalities; that loss on buildings
destroyed by fire would be paid as soon
as adjusted, and that the adjustment
Of losses would proceed as rapidly as
possible. The insurance in the burned
district is estimated by the underwrit-
ers at 5000, 000, 200.