The San Francisco call., 1906-06-14


Reed Hall, when sixty companies
voted to adopt horizontal cut of 25
per cent in the payment of adjusted
claims on San Francisco losses.
The aftermath of that session, where
thirty odd managers fought every inch
of the way against the proposed slash
in payments, follows quickly. Devel-
opments today were steadily toward
split in the Fire Underwriters Ad-
justing Bureau
The point has been arrived at, say
the notable thirty who are standing
invulnerable as the rock of Gibraltar
for a dollar for dollar settlement,
where q final decision must be reached
as to further action on the bureaus
part To the end that concert of move
ment shall be arranged by the men
who are holding out for what they in
sist is an honest meeting of policy
contracts, a session has been called for
tomorrow morning at Reed Hall of the
companies opposed to the proposed cut
Of % per cent.
This meeting, which has been ar
ranged by such men as Rolla V. Watt
Of the Royal, George w. Spencer of the
Aetna, 3. ]. Smith of the Connecticut,
George D. Dornin of the Springfield
and others Of that stamp, is fraught
with import OF the greatest signif1-
canoe. 1t means, unless all of the signs
fail that the companies which oppose
a horizontal cut are determined to
press home for answer the questions
which are disturbing, agitating and
distressing not only the policy holders
but many of the insurance managers
who are between the devil and the
deep blue sea" in the seemingly in
terminable entanglement of ideas as to
the San Francisco loss.
PERMANENT POLICY.
This meeting, everything tends to
Indicate will result in a decision as to
the permanent policy which the thirty
or more companies will maintain Not
only will the subject OF paying losses
be threshed out, but one of much
greater Importance to the policy
holders will, it is believed. be given
serious consideration. namely, the ques
tion of forcing settlements on adjusted
losses which were submitted to sub
committees of the Fire Underwriters
Adjusting Bureau.
Much speculation has been INDUCED
in by insurance company managers to-
day as TO the further proceedings
which they felt must surely follow the
heated meeting yesterday when men
like Smith of the Connecticut declared
vehemently on the floor of the (hall
that his company would not stand for
horizontal cut Dornin of the
Springfield and others spoke strongly
in the same vein. The entire discus
sion was along lines which were so di
vergent that in-the aftermath of gos-
sip concerning the meeting opinions
were freely given that the final crash
was close at hand.
That the meeting was not without
important results was made evident
todaS when the session for tomorrow
was quietly and speedily arranged.
To frame a policy which shall be ad-
over San Francisco's losses is as
suredly among the important matters
which will be taken up. How much
farther the managers will go remains
for the meeting to develop.
COMPANIES THAT ARE TRUE.
Though none of the officials or rep
resentatives Of the Fire T-nderwritc~s
adjusting bureau will offer for the
public a word OIL explanation cUnce4a-
ing yesterdays meeting, there has
slowly percolated through the numer-
Gus insurance offices much detail con-
cerning the session. Among the COM
panies which have taken stand
against the proposition to hack a quar-
ter off the adjusted claims are the fol-
lowing:
Aetna, American Central Atlas.
Commercial Union Citizens, Connecti-
cut. Continental California, European
and American Underwriters, German
American, German Alliance Hartford
Home, Individual Underwriters, Kings
County, London and Lancashire Liver
pool and London and Globe, London AS
surance. Mercantile Fire and Marine
Manchester New York Underwriters,
New Hampshire, Northern. New Zea-
land, North British and Mercantile
Norwich Union. Orient, Phoenix of
London, Pelican. Queen, Royal State
of Liverpool, Springfield, Sun, st. Paul,
Williamsburg City.
While all of these companies voted
No" on the proposal to cut 20 per
cent. it is probable that a few of the
managers voted in that way because
they had no instructions from their
home Offices as to the attitude they
should definitely take. The great ma
Jority OF these companies are in the
column of corporations that are main
tanning first and last the policy of
dollar for dollar" payments.
TRYING TO FILE HIS PROOF.
If tomorrow's developments are as
expected a definite line on the com
panies which decide to go ahead and
settle all claims at once on the basis
of full payment of adjusted losses will
be obtained.
T. J. Lyons. an attorney of San
Francisco and one of the trustees of
the Frank H Woods trust. which lost
$l,000,O00 in the fire, complained to-
day that he had been unable to find
any one authorized as manager or
agent to accept from him proof of loss
in the National Union Insurance Com
pany of Pittsburg Lyons said:
Il went to the National Unions office
at 52s Twelfth street and was met by
young woman who refused to give
me her name and asserted that she
would take the proof of loss 1 asked
for the manager of the company A. G.
Mason, and was informed that he had
been suspended several days ago. In
view Of that statement / declined to
submit my proof of loss until 1 could
make further investigation. 1t seems
to me that this company is not accord
ing its clients the right kind Of treat
ment when it fails to have the proper
people at hand to accept proofs of loss.
should object strongly to filing mine
with any one whom 1 was not sure
had the proper authority to receive
IT."
MANY FAIL TO GIVE NOTICE.
The startling fact in connection with
the insurance situation is that within |
a week of the final date for fling proofs |
of loss, policy holders, either through |