The San Francisco call., 1906-07-02
Unfair Tactics Here
Costing Them
Dearly.
Policy cy-HoldersSeek
Concerns That
Are Just.

The "six-bit" insurance companies
are already beginning TO reap the re-
ward of their hasty action in attempt
ing to settle all of their San Fran
cisco losses on a 25 per cent cut basis,
Their policies are being Cancelled by
the assured all over the United States
and the former holders are hurrying
to place their risks with the corpora
tions that are honestly paying their
just claims in San Francisco dollar for
dollar.
Commissioner Wolf said yesterday
that he was in receipt of thousands of
letters from people throughout the
country. asking which companies are
paying their San Francisco losses on a
just basis. These letters represent
millions of dollars worth of insurance.
The "six-bit" companies are making
desperate effort to stem the tide of
popular indignation that is rising
against them. Two of the leading
New York financial newspapers are
practically filled with their advertise
ments. These "six-bitters' unblush-
ingly say that they are paying their
San Francisco losses dollar for dollar.
At the same time their agents in Oak
land are demanding from 10 TO so per
cent reduction for cash settlement on
every policy
Our officers did not think that the
cut out here would affect. our position
with the assured elsewhere" said one
Pacific Coast agent of "six-bit" COM
pany yesterday, but they find now that
our policies are being Cancelled
throughout the East and in the West
ern States. 1 do not know what the
company will do II business continues
to fall off at the present rate. We are
advertising extensively in the East"
Rudolph Herold who resigned the
agency of the Hamburg Bremen be-
cause he did not approve of the meth
DDS of their adjusters, said yesterday:
These companies that are cutting
when they have no right to do so will
wake up one of these days to find their
business all gone. Never in all my
business experience have 1 seen such
short-sighted policy pursued by any
corporation. l cannot understand what
the officers of these companies are
thinking about
letter, typical OF the thousands
that Commissioner Wolf has received,
came to this city yesterday 1t was
from Omaha and read as follows: II
carry about 100000 insurance on my
building and stock of goods. / under
stand by reading the reports in the
papers that the companies In which !
am insured are cutting their San Fran
cisco settlements. Please give me the
facts about these companies (naming
five notorious policy -slicers). If they
are in the 'six-bit' companies I want to
know II so that 1 can replace my In
surance."
Another letter was received from a
woman of Southern Ohio. She has
evidently read of the actions of some
of the insurance companies in San
Francisco. She says: Il am a widow
and have my own home. That is about
all that l have In the word and my
little garden supplies me win most OF
my food. carry an insurance policy
in the ------2--- ------2--- Insurance Com
pany. ! understand that this company
mas forced widows in San Francisco to
take less than half of the money due
them. l would go to the poorhouse If
my place should burn and the insur-
ance company make me take half of
what was due me. Please let me know
the truth of the reports about the
Company so that I can
transfer my policy to good company"