The San Francisco call., 1906-06-26

as will tend to correctly advise policy
/ holders in the collection of their
claims.
Mr. Sbarboro moved the adoption of
1 the resolution.
WOULD NOT ANTAGONIZE.
IF an organization is formed here
| to fight an organization of the insur-
ance companies" said Sbarboro, the
poor policy holders will suffer. l would
/ suggest that some one be appointed to
go to every company and insist that
I they shall do right. If they fail to do
right l would have their condition in
vestigated. 1t may be necessary to
take a certain amount on the dollar"
! Mr. Dohrmanns resolutions produced
the effect that he said he desired when
| he introduced them. A long discus
/ sion followed.
! E. s. Rothschild of the Downtown
Property Owners Association objected
/ to the provision in the original resolu-
/ tion submitted by the committee for a
4 payment of / per cent on the face of
policies to make a defense fund. He
said that it would call for the payment
/ of $4,000 from one business house.
Isidor Jacobs suggested that Wall
street shaaks were waiting to get pos
session of the assets of the fire insur-
ance companies when they are forced
! into the market. He said that what
/ the policy holders in San Francisco
wanted to know was how much the
companies could pay, and if the com
panies could not pay what the policy
holders would do.
| Marshall Hale said In substance:
One hundred millions of dollars are
represented here today. If we are taxed
l per cent on the face of our policies to
advertise the insurance companies that
will cost us 100000. We would do
we'll to leave out that question for the
present. 1 believe in organizing Poll
cy-holders in San Francisco should
| stand together. There are some legal
questions to be settled. The earth
quake companies have not told us what
they will do. Some of the companies
may go into insolvency, as the Trad
ers' has. The Traders policy holders
will be glad to co-operatel with the
main organiza tion.
TO PILLORY UNFAITHFUL.
Barclay Henley said that the policy
holders had two purposes--to conserve
the interests of all who have policies
and to pillory before the gaze of the
world all the insurance companies that
cannot be made to pay. Such pfoced-
ure had no terrors, he said for honest
companies, but only for the dishonest
ones.
/ Mr. Bentley of the Chamber of Com
meTc6 explained Ine WOTk OF the Chanl-
Der in connection with making known
the acts of deliquent companies.
Harold Figenbaum and others dis
cussed the general topic
1t was voted to have the chairman
appoint committee of two from each
of the commercial organization to
prepare a plan for the organization of
a body to act for the policy holders
The Immediate organization of cor
poration was urged by several speak
ers, but no action looking toward in
corporation was taken.
Finally resolutions were taken up
singly from the report of the commit
tee and adopted to the following effect:
An Organization to be known as the
Policy Holders Protective League shall
be formed. to be controlled by the com
mereial organizations of the city:
fund will be created by the payment of
such amounts as may hereafter be de-
cided upon by the trustees of the or
ganization; the trustees shall be eleven
in number. two from each commercial
organization and one at large: mem
bership In the organization shall he
open to all policy holders carrying Are
insurance policies, whether they were
carrying policies at the time of the re-
cent fire or since or may insure here
after