The San Francisco call., 1906-09-05
LOSERS |NQU|R|NG
ABOUT SAL VACE.
Palpable Fakes May Be
Heard About in the
Grand Jury Probing
BASES OF GOUGEs

Considering that the San Francisco
fire burned practically almost every
thing that it touched, some considera-
tion is now being given by large fire
losers to the salvage question. espe-
cially when welching insurance COM
panies put up plea of inability to pay
100 cents on the dollar. AS has been
explained in the columns of this paper
before, the salvage claimed by many
companies in San Francisco, in the
April fire. is largely a cover or book
keeping term for the shave in policies
that the companies intend to make. II
represents the money they plan to
welch The salvage is reported in the
East as large that the companies may
make a showing to keep the confidence
of Eastern people in the concerns. Here
it is admitted that the salvage is very
small.
Among the interesting facts that
might interest the Grand Jury is the
showing made by several companies
in sworn statements about salvage
It will be easily ascertained that first
class companies that sustained the
greater losses, claim to have much less
salvage" than the welchers. Some con-
trasts point out this very clearly.
The Aetna Insurance Company,
which has made a fine record in set
Elements with San Francisco losers,
reports that 1T had an actual loss of
$2,700,000, but claims that the salvage
was but $161, 900. On the other hand,
the American of Boston makes it ap-
pear under oath, that while it's actual
loss was but $S69,923, the salvage was
100000.
The Atlas, one of the strong payers
of loss, reports that it's actual loss
was s1,77S,157, and it's salvage but
s197,573. Contrasted with this is the
Calumet, reporting an actual loss of
s65O,000, claims that the salvage was
s40O, 900. Of the same sort is the Mil
waukee Mechanics that reports a loss
of $1,362,117, and salvage at S794,392.
The disproportion shown in these
statements regarding the salvage" Of
the welchers and that of the solid and
strong companies could be multiplied
Indefinitely, but only few more in
stances are necessary in this connec-
ton. The London, Liverpool and
Globe, another sound company. claims
an actual loss of s3.9es,0oo, but esti-
mates the salvage in its losses as but
$250,O00. But the Palatine, that de-
nies liability in San Francisco shows
that its salvage is nearly so per cent,
the actual loss being estimated at
SlS43,650, and the saliva ge" at $780,
136. The same sort of showing is
made by the North German Fire of
New 1Ork WHICH aCIudlly CldiIiS Ina l,
while its actual loss was $199,195, its
salvage" was $1,000
The most singular claim yet set
up under oath may be attributed to
the Williamsburgh City, which claims
that its salvage is almost equal to the
gross amount of its risks. AS a Curl
osity these figures, taken from the
sworn statement to the Insurance De-
partment of the State of New York,
are published as follows: Total gross
amount of insurance involved, $1,S91,-
230; estimated salvage, s1.414,556; ac-
tual loss, $360,274.
The Grand Jury can easily find out
what the actual amounts of salvage
have been ascertained by the adjust
ment bureau of the Board of Fire I'm
derwriters to be in more than 1000
leading losses in this city. in each of
which six or more companies are in
volved as losers. Then it is easy to
find out what sort of figures the WEIGH
ers are making when losers come in to
get their money to justify horizontal
cuts of large size from the face of
policies where there is no earthquake
clause and where the gouge is un-
masked and easy for any one to see.
The official returns of the Insurance
Department of the State of New York
are also easily procurable.