New-York tribune., 1906-05-03
TO PAY FRISCO LOSS.
COMPANIES NAY UNITE.
Plan to Offer so Per Cent as
Compromise.

Representatives Of both foreign and American
fire insurance companies who were in this city
yesterday discussed united action 70 effect
compromise In the adjustment Of losses by the
San Francisco fire. The companies Will ap-
parently try TO arrange for compromise by
which the claims against them may be settled
by the payment OF about go per cent Of the ag-
gregate amount If united action by all the
companies is agreed 20 an insurance committee
can say to a committee Of the policyhOlders in
San Francisco:
Instead OF contesting claims on the ground
that many buildings were damaged by earth
quake before they took fire. the companies will
settle all claims at so per cent It would be bet
ter for both that you should accept so per cent
should wait year or so While the claims are
being adJudicated through the slow process Of
litigation.
The managers and other representatives OF
some Of the European fire insurance companies
have already arrived in New York, and many
more will be in steamers due later in the
week. Important conferences between these
men and the American representatives of their
companies took place yesterday The officers
Of some OF tlse chief New YOsis companies have
also been In conference with their directors con-
, cerning the San Francisco losses.
The extent OF the loss seems to grow more
serious and grave additional information is
received from the Pacific Coast representatives
OF the companies. The discussions in New York
yesterday were largely upon the question as to
the attitude the adjusters Of companies should
be instructed to take in regard to disputed ques-
tions. The great companies express a strong
purpose to be not only just but generous in
cases Of doubt with the victims of the San Fran
cisco fire; but they all evidently feel what was
expressed by the president Of a large American
company who said yesterday:
The adjusters for this company will not be
allowed to waive the conditions Of it's policies
nor the conditions and restrictions of it's char
ter. We have right to pay a loss occa-
stoned by earthquake than we have to pay
loss of life We are not an earthquake insur-
ance company nor a life Insurance company.
With the boundaries Of the burned district def
initely known as shown in the map on the next
page. it is only within twenty-four hours that
the companies have been able to ascertain with
exactness their amounts at risk in that district.
Because Of exemption from loss by earthquake
damage we'll informed insurance men estimated
yesterday that the companies would ultimately
pay from 60 to 20 per cent Of the aggregate
amount at risk, and 1t was generally felt that
policyholders in San Francisco would realize the
equity of the positions the companies would
take and much prefer to compromise their
claims than submit them to prolonged adjudica-
tion by law.
Hartford. Conn, May "a statement has
been issued by the AEtna Fire Insurance Com
pany of this city on its liabilities resulting
from the San Francisco fire. and the net loss OF
the company is estimated at $21O0OOO The
total amount of insurance carried by the COM
panv in the burned city was S4,4O0OOO The
total loss of the Orient Fire Insurance Company
as given out to-day, amounts to S1,OOOOOn the
Phoenix the Connecticut Fire and the National
Fire have not yet been informed definitely
enough TO give out estimates.