The San Francisco call., 1906-06-21
HARRIS SWINGS
HEAVY HAMMER
=" Knocks" Dollar Con-
Germs and He Awaits
VOLTS Pleasure.

OAKLAND. June 20.-aIt is now up to
Insurance Commissioner Wolf to make
his threatened move TO throw us out of
California Until he does bounce us we
viii continue TO remain here. We are
awaiting his onslaught He has asked
us 10 do something that we could not
for our own self-protection do. We
carried S2B6.000 in reinsurance COM
panies and those concerns informed US
that they would not consent to any ex-
tension on our part of the time for fling
proof of loss. We were advised that if
we granted such extension we would
5eopardize our reinsurance interests
and probably lose the s2S6,000. Rather
than stand a chance of being separated
from that sum by obeying VOLTS or
ders we viii retire from California. We
are one OF the majority of 'siX-bit' COM
panies and are not ashamed to say 1t
out loud. We believe that we VIII do
as well by our policy-holders as some
OF the concerns that are posing as the
solid 'dollar-fo -for-dollar' fellows, and
which are at the same time settling
many Of their elaine on basis that is
much less than 100 cents"
such was the way in which A. II.
Harris. who came here from Philadel-
phia and took charge OF the affairs of
the Girard Insurance Company Of that
city. explained today the position of the
company he represents. The Girard is
one OF the companies that declined to
furnish Insurance Commissioner Wolf
with a list Of its policy-holders or to
grant any extension of time for the
Ming Of proofs Of loss.
COMPROMISING LOSSES.
Continuing. Harris said:
The losses OF the Girard in San
Francisco are estimated TO be some
thing over sl.O00,00e- OF this risk we
have S2S6, 200 in reinsurance companies
The surplus Of the Girard at the be-
ginning of last year was 500. 000- We
are settling our San Francisco losses
on a compromise basis and at pres
ent are dealing exclusively with our
clients who are willing TO talk COM
promise and take as much as we can
agree on. Policy holders who want ad-
5ustments made will have to wait untll
we have the time to devote TO their
separate losses. The GIrard IS in the
class Of what has been termed the
'sIE-bit companies. That term has
been generally misunderstood and the
companies that have their names in the
dOllar-for-dO column are making
the most of the term 'siX-bits.
The 15-cent basis OF settlement for
the san Francisco fire losses, which
was favored by the majority OF COM
panies in the Fire Underwriters ad-
5usting bureau. is the construction put
upon the resolution adopted At the
meeting of the American companies in
New York recently, in which they de-
should be settled upon q reasonable
basis" The majority Of the companies
affiliated with the Fire Underwriters
Adjusting Bureau held that = cents
would be q reasonable basis upon
which 70 settle the san Francisco fire
risks. The Girard Insurance Company
entered the California field IN 1894 and
We carried risks IN san Francisco
amoantng 10 considerably more than
Si.000, 0eo.
CONTINENTAL Is PAYING.
There IS to be a meeting tomorrow
morning At 1890 O'Clock in Reed Hall
of the doDar-for-dolla companies. The
report on a plan of adjustment and set
tleEaent Of the San Francisco IRE loss
in which more than six companies are
involved win he submitted by a com
mitcce appointed AZ the last session Of
tie G0llarfor-doll companies. The
committee consists OF X. Il. Landers.
J. c. Royce. W. II Bament, Rona V.
Watt and X. Irving.
Major c. 7. Harl Of the Continental
Insurance Company has announced that
his firm has resigned from the loss sub
r'wittees on which the company was
appointed by the general adjusting
committee OF fifteen CT the Fire Under
writers Adjusting Bureau The direct
ors Of the Continental Company. tired
OF the dilatory tactics OF the loss com
naittees in reporting 10 the companies
involved in the big San Francisco risks
ordered tle mana gers of the company
here TO proceed and settle it's losses
alone, Irrespective of the course pur-
sued by other firms. The losses OF the
Continental in san Francisco We're
SECS. .000. or this amount nearly 800
claims, aggre eating 500. 600 have al
ready been paid Some of the risks on
which Payment has been made were for
$50 geo and over
The following companies have been
admitted 10 membership in the Pacific
Board of Underwriters: Duchess, Gil
rard. North River. Buffalo German and
New Brunswick Of New Jersey.