The San Francisco call., 1906-10-01

policy that bears on the outside the
words New York standard policy"
must be considered to be, in fact. a
New York standard The policy hold
ers, seeing these words would natural
ly conclude that they had standard
forms, while the fact is that there is
no earthquake clause in the New York
form. Where the Williamsburgh City
company's policies have no earthquake
clause, the settlements have been close
to dollar for dollar
The Calumet company has offered to
divide 100000 among its policy hold
ers on condition that they will accept
that In full settlement and permit the
company to go on. The North German
of New York is Offering 25 cents on the
dollar and Is awaiting the decision Of
the policy holders whether they will
accept this sum as full payment This
company, like the German of Freeport,
offers to pay the expense OF an investi-
CATION by representative of the
policy-holders of the financial ability
OF the company ia pay any more The
German OF Freeport paid out go cents
on the dollar for a time and then
stopped for some reason not explained
The figures that are received here in
letters from attorneys suggest. that
both these companies can pay more
than their offers of % and so cents on
the dollar.
proposition has been made by the
president OF the association of Ger
man OF Freeport policy holders to take
payment in installments. the company
10 be permitted to keep its capital un-
impaired and go on in business and to
pay installments to the policy holders
from the money that would otherwise
be paid as dividends to stockholders
This idea did not receive favor when
1t was presented by the local attorneys
for the German of Freeport
SLIDING SCALE USED.
IS The Milwaukee Mechanics has been
settling on q basis of seventy cents
Certain attorneys claim to have Sc
cured better offer than that for their
clients: That is very likely, for settle
ments by many companies would seem
TO have been made. .on the sliding scale
larger payments to those who would
not be put off and smaller ones to pol
icy-holders easier to handle For this.
insurance companies send adjusters TO
San Francisco, who .imediately, began
TO intimidate, cajole and use all sorts
OF methods to save as much money as
possible for the companies and to make
as cneap settlements as possible
A large number of companies made
reports In New York on June 80 of this
year that their salvages from the San
francisco fire would he 25 per cent. II
is a matter of common knowledge that
In the larger buildings the salvage 5did
not exceed 10 per cent. The smaller
buildings and their contents were prac-
ticaliy a total loss. The "salvages'' the
crooked companies expected were
pased largely on the performances of
the adjusters sent TO San Francisco.
The prospect would seem to be good
that the Fireman's Fund plan of set
tiement, fifty cents cash and fifty cents
In stock, will go through The Fire
man Fund has paid out its frst In
stailment of cash to all who have called
Tor their money. this amounting TO 90
per cent of the total liability of Sill
0V0,O0O In round figures, the F'fremarfs
Fund owning the Home Fire and Ma
rlne and the Pacific Underwriters.
which were also large losers.