El Paso herald. (El Paso, Tex.) 1901-1931, 1910-06-22
PROTESTS. AGAINST
TEXAS INSURANCE
|AIQU|T|ES
Continued Fror Page One.l
take it, they made a profit on it or they
would have turned it down.
The Ridiculous New Rate.

! take 1t, they made prO1lt on II or they
| would have turned ii down.
The Ridiculous New Rate.
Standing before the fire rating board
| when it convened this morning, an
empty sleeve pinned across his breast,
his eyes flashing in wrath, Capt. w. y.
Walker, an Did and prom'nent oitizsn
| of Austin, exclaimed: 1T raises hell N
man to think that he IS being obbe1
! with the consent of the state. 1t is
revolutionary. I am perfectly wiling 10
pay what is fair and just, but when I
/ am raised over 100 percent L consider
| it confiscation.''
When the new rate was announced
| he said that an insurance agent told
! him if he would install a sprinkler sys-
! tenn, iron doors, skylights, make $500
worth of cellar improvements, put up
| a fireWaIl and put a clause in his policy
that he would not ask the companies
for damages if the building caught fire
from neighbOring stable, they could
possibly get the rate down to about 10
cents above what it was before. The
improvements would cost over $1,000
Il am before this board protesting
against this trust that the state has
created and ask that the old rates be
restored" he said. Under the law as
it now stands the Insurance companies
could charge the policy holders $1,000 a
this board would have no power in
regard TO back insurance at that rate"
Tnylor's Vigorous Protest.
Roberts, representing the town of
Taylor, stated that as Taylor was
operating under the red rider clause,
which promised to develop into a
big red devil, he asked the board -
restore the old rates.
Hawkins answered that this would
cause discrimination and asked what
he would consider reasonable. Roberts
replied to restore the lowest old rate
that existed, the fact that the companies
accepted this rate showed that they
made profit ON it or they would have
Cancelled the policy He said that all
he knows is that the companies are sat
isfied with their risks in Taylor; that
their men diligently sought the bust
ness and the companies accepted it, and
they must have made a fair return on
the investment. He said: Reduce the
rate; then if the companies cannot
make a fair profit, they will refuse
to accept the business; then raise tie
rate TO what will be fair return; place
the burden of proof on the companies;
they have the data, they have finan-
cial means 10 prove their case. We
common people have not the facilities
nor the financial means TO prosecute
our cause in an exhaustive way"
Hawkins stated that it had been rep
resented to the board that foreign COM
panies had indiscriminately cut rates to
drive domestic companies out of bust
ness.
Hawkins Takes Water.
Roberts asked promptly and aggres-
sively: who made that charger"
Hawkins hesitated and replied: Re
sponsible men"
Roberts said he thought it ought
to be matter of public record.
Il beg your pardon. L know well
enough the insurance companies go in
cahoots, but not to cut one another's
throats, but to skin the hides off the
people" said Roberts.
1t came out through the board that
it had no authority TO disapprove the
rates promulgated by the companies and
collected from the policy holder since
January l. Then" exclaimed Mr.. Rob-
erts. they have saddled a burden on
us that we cannot get out Of"
Senator Hudspeth appeared before the
board and announced that the chamber
Of commerce of San Antonio is taking
steps to protest against w. L. Stiles's
representation from San Antonio and
repuduiate his stand and Show that
he did not represent the majority of
the members of that body. Stiles is an
insurance man.