The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1907-01-29

plates driving" any body "out Of the
State" unless that concern belongs to
trust. Full protection VIII be afforded
by it 10 every insurance company,
home o. foreign that does business
without combining 10 hx rates and
prevent the working OF natural laws.
There will be no proper re-
duc;ion to fair insurance rates
as long as the fire insurance trust
is permitted to dominate the insurance
situation.
Mr.. Womack is mistaken in saying
that the present rates in North Caro-
lima, lower than in some states is due
/ to our present excellent insurance
/ laws" They are due to nothing of the
sort, but to the fact that the
/ North Carolina nome companies have
! refused to put up rates and the
j Continental has also refused to be
] bound by the arbitrary rule imposed
| by the insurance trust. The fact that
! our Insurance Commissioner vigilantly
cnforces the law by investigating fires
! and prosecutes suspected parties for
| arson also helps to keep down the rate.
/ But if we had no home company in
| North Carolina, rates would SO up
! our home companies have not cut
| rates, but they have helped to prev
an increase. When they are stronger
they must reduce rates when expert
ence shows it can be safely done.
The five hundred agents are re-
| sourccful men. At present. they are
50 related to the trust that their living
! comes from it. The trust threatens
! 10 quit the State and take the bread
and meat out of the mouths of the
| agents Some of the companies viii
! not go: if they should do so, the
| agents could make more money by
organizing local companies and repre-
| senting home and outside non-trust
| companies than they do now. Natur-
! ally they are standing in with the
| head officers. But 50 are all the
agents of the American Tobacco Com
pany, the Standard OF Company, and
the agents of all other trusts Woul,
it be safe for them to defy the trust
they represent?
What does President Womacll mean
by "if this vast body Of workers VIII
defeat this bill?
The letter of President Womack
| circulated privately among the agents.
! instead Of being an argument against
! the Aycocll bin. is really an argument
for its passage
What One Agent Says.
All the five hundred agents do not
j agree with President Womac!1,
though they do not care to invite the
! hostility OF the head officers Of the
trust by openly coming out in favor
of the bill. The above copy of President
Womack's letter was furnished The
News and Observer by one of the best
| agents in the State-an intelligent man
who understands the fire insurance
business as We'll as any man in North
Carolina. lie sees the situation as it
is and in a private letter to i gentle
man. says:
The men who are opposed to Tie
iycock bill are the same men Who
passed 4 resolution two years ago say
ing they thought it best for insurance
agents to be paid only Is per cent
commission. The .\ycoclz Bill is
what we Ghe people) want. insist
upon it, Don't let it be withdrav-ra.r
and don't let it be out off too late in
being passed. Don't let Drewry and
others sidetrack us by talking about
life insurance. Fire insurance is the
necessity that all must have-not
some general law about life nsur-
ance companies contributing to CAM
paign funds or rebating commissions
TO agents. What does the assured
care whether the agent or the COM
| pany gets his premum-it is gone
! from him and he is Indifferent who
gets it The 'Aycock Bill We want
and want at once. Do not delay"
Some of the Workings OF the TruSt
II the legislators will study the
methods, ,uniniiucDccd by present or
former agents Of the trust who arc
naturally Drcjudiccd in its favor. they
will see that the Aycock bill is 4 ne
cessity. Senator Aycock has 4 letter
from one Of the best posted insurance
men in North Carolina. from when
the following extract is taken:
This Insurance Trust called the
/ southeastern Tariff Association is the
rate tiNin" company Of all or most .
| the ire insurance companies. All the
companies are in an engagement 70
tblQe by and maintain the rate thac
this company OF agent makes. pub
!ishes or establishes. This agency has
its cilice in Atlanta. Ga. and when l or
any Other agent want To know a
tate upon any risk this Atlanta office
has 70 be written 10 and ask d wnat
rate we shall charge. To SEQ that ali
companies live w t. this rate estab-
li>hcd by the rating company. al
agents have to send all rcDort:;
through What they call stamping Of
fcts 0he one for this part OF tn.
state ir IT Wil-on. y. @ II does not
matter whether Z company says il Wi!t
write ut d certain rate OF not, if il
COOS not suit this rating agency. tn
, rate must be changed 10 suit them.
but what is equally ~ bad as the
i nigh rate they establish Is the very
great restriction clauses they have pat
upon most insurance risks. 10 Illus
| tratc say j farmer has Il barn WORTH
81 600 and he 2as il insured for 500.
and III the fall hc stores $500 worth
| Of bale cotton in il. The insurance
company Immediately SAYS Npur
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