The San Francisco call., 1906-06-19
AWAITING
RES(JI 7 Of
new RULE
Policy-Holders Expect 1t
to Bring Definite Ac-
ton at Once.
Concerns That Received
Reports Week Ago
Free to Settle.
English Companies Delib-
Grating Over Earth
quake Clause.

OAKLAND, June 18.-Under the rule
adopted by the fire underwriters ad-
justing bureau ten days ago to facil1-
tate the settlement of losses in which
more than six insurance companies are
interested the companies that received
reports of the findings of the loss COM
mittee from the secretary of the bu-
reau one week ago will be free tomor-
row to proceed to settle their individ-
ual share in risk in their own way if
they have been unable to agree upon a
general plan of settlement with the
other companies involved in the same
loss
According to the regulation, which
was enacted after it appeared that the
original method of calling meetings OF
the companies interested in a loss to
act upon the report of the loss commit
tee was a failure, the companies in
Yolved in a risk are free one week after
receiving a report of the loss commit
tee to proceed to settle and pay their
individual risk as they see fit and with
out hindrance from any other company
interested in the same loss. With the
new rule in full effect it is expected
that the ready-to-pay companies that
were hampered and delayed by the eva
siYe and unbusinesslike tactics of some
of the other companies will be in po-
sition to go ahead and reimburse their
polcy-holderS.
WILL HELP WIDEN BREAK.
The operation of the rule will also
increase the distinction between the
strong and the weak, the honest and
the dishonest companies. 1t will bring
about the showdown which the recaici-
trant companies have postponed by
every trick within their power. 1t may
also tend to widen the breach of dis
sension that has rent the fire under
writer's adjusting bureau, as the rule
allows more freedom to companies that
are ready to break away from the bu-
reau and proceed ina independent
way to adjust and settle their own
losses. Reports from loss committees
on risks aggregating over s2,000,00O
have already been sent out by the Sec
retary of the fire underwriters adjust
ing bureau to companies interested in
the claims
There was no meeting today in Reed
Hall of the fire underwriters adjusting
bureau, neither was there any session
or the dolalr- or-dollar companies OF
the sikh firms. 1t is probable that
there will be a meeting Wednesday OF
the thirty-four companies that are
classed as the dollar for dollar corpora
tions and that the plan of adjustment
and settlement of losses that has beer
prepared by the committee of five rep
reSenLlnS the lHlTly-IOuT wiz De
submitted. 9
THE EARTHQUAKE CLAUSE.
President George w. Spencer of the
fire underwriters adjusting bureau
who is also a leader among the dollar
for dollar insurance men, said today
that he did not know when the bureau
would meet again.
w. M. Bament, a member of the COM
mittee of five, stated that in tall ilkeli-
hood meteing of the thirty-four COM
panies which his committee represents
would take place Wednesday, although
no call had been issued.
c. T. Mullins, manager of the Com
mercial Union of London, the Palatine
and Alliance. two other English com
panies, has not yet received instructions
from his home Offices as TO whether his
firms. all of which are earthquake
clause companies. are to acknowledge
or deny liability for their San Francisco
fire losses. e
81 do not look for instruction from
England sooner than Wednesday," SAID
Manager Mullins, and therefore do not
know how / am to act. My companies
asked me for further information Fri.
day, and I cabled what they wanted tc
know to the home Offices. Everything
depends upon the decision of the home
Offices, and 1 expect to learn of tha,
just as soon as the home Offices arrive
at decision