The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-06-15
MUST PAY LOSSES
OR Be RUINED
DiCtum of California Officials
on Fire InSur-
anCe.
AN INDEPENDENT BUREAU
THERTY-TWo COMPANIES WILL
SETTLE IN FULL.

San Francisco, June 1.-THE officials
Of California are agreed, it is said, that
the insurance companies which refuse
to meet their obligations and pay their
losses in full will not only be driven
from the state but ruined before the
world if the widest publication of their
methods can accomplish that end. IN
surance Commissioner E. Marion Wolf
is backed by Attorney General Webb.
The attorney general expressed him
self fOrcefuIIy today regarding the
proposition made by sixty companies at
the meeting in Oakland Tuesday to pay
only 20 per cent of adjusted losses.
Ihlrty-tWO insurance companies met
in Oakland today and organized to be
Independent of the fire underwriters bu-
reau- These companies are the ones
that decided to pay dollar for dollar
their losses in the fire.
Disrupts the Bureau.
None of the companies that voted for
a horizontal cut of % per cent were ad-
mitted to the meeting today and the re-
suit Is virtually a disruption of the un-
deTWTIteTs bureau. TOday's meeting
marks realignment of the insurance
forces.
The following is a list of the COM
panIes that are standing out against
the proposition which has been ad-
vanced by sixty of their associates in
the Underwriters bureau TO order a cut
Of % cents right down the line and COM
pei policy-holders to accept IS cents on
the dollar.
Aetna Insurance company. California;
Mercantile of Boston. American Central
Of St Louis. st. Paul, Manchester: At
las of London, Kings County, Spring
field of Massachusetts, New Zealand
North British and Mercantile, Liverpool
and London and Globe. Sun of London.
Northern Assurance of London. Phoenix
of London. Pelican of New York. Con-
tinental of New York. London Assur-
ance. New York Underwriters, Teutonia.
London and Lancashire, English-Amer-
lean Underwriters, Orient of HartfOdd
State Of Liverpool. Hartford of Hart
fOrd.e Citizens of St. Louis. Home Of
New York, Connecticut. New Hamp-
shire, Queen Of New York, Royal Of
Liverpool. Industrial Underwriters
Seventy-one to Hear From.
Of the representatives present at the
recent meeting of the underwriters at
Oakland when the 75-cent proposition
came up for vote there remain then.
seventy-one companies to be accounted
for. Of these sixty-one declare in ia
VOT of the 15-cent compromise. while
ten were not represented at the meet
ing and so far have not recorded their
position in the matter.
One more insurance company yester-
day signed the stipulation sent out by
the state insurance commissioner grant
ing an additional sixty days time dur
ing which pOliCy-hOlders may file their
proofs Of loss. This company was the
PTussian National Fifty-foUF insUr-
ance concerns have now granted the
extension of time and many more are
expected to follow during the next two
days
Three insurance cOmpauies-the Con-
tinental, Austin of Texas and Scottish
UniOn-have filed a description of all
their policies with Insurance Commits
sioner Wolf.
The local pOlicy-hOiCers Of the Trad
ers' Insurance company adopted articles
of Incorporation today preparatory to
making a fight i'm the Illinois courts for
a full settlement Of the $1,000. 600 loss
on which the company is said 10 be
eVading payment.