Daily press. [volume] (Newport News, Va.) 1896-current, 1910-05-18
COMMITTEE TO DRAW
STRONG RESOLUTIONS
Agents Declare That the
Only Way to Get Relief IS to Arbi-
trate Matter-Col. Button Wants
to "Read Riot Act" to Underwrit-
ers Association.

the insurance matter, the Merchants
Association, in open session last night
in Rosenbaum's hall, decided to &C
cept an offer from State Insurance
Commissioner Joseph Button to take
up before the Southeastern Under
writer's Association the fight of the
insuring public OF Newport News for
the removal of the ten per cent. In
crease in rates recently levied here
by the combination on account
OF the action OF the city
council In raising the license tax
on the insurance companies. In &C
cordance with this decision, the insur-
ance committee OF the association
was directed TO meet with the com
mittee on taxation and legislation of
the Chamber of Commerce for the
purpose OF drawing joint resolution
voicing the protest OF both the as
ISOLATION and the Chamber against
the increase OF the rates.
Send Copy to Acknowledgement.
Copies of this resolution will be for
warded to Col. Button and the at
tOrney-general of Virginia. Col. But
ton has promised that he will take
the resolution before the meeting of
the Virginia committee of the Under
writer's Association and urge that the
ten per cent. increase be taken of. A
copy of the resolution is to be sent
to the encouragement for the pur-
pose of laying the facts before him
so that he can proceed against the
trust If he finds that it is violating the
laws of Virginia.
The meeting last night was called
primarily for the purpose of getting
together the holders of fire insurance
policies with the IDEA of pooling the
policies and having them rewritten in
companies not members OF the Trust.
About fifty business men, including
fire insurance agents-W. 4. Cottrell,
w. T. Chaplin, A. l.. Powell, N. w. Bry-
ant and J. A. Willett-were present.
While there was some talk OF pooling
the policies, no action along that line
was taken, the association contenting
itself for the present with accepting
the proposition made yesterday by
Col. Button.
viii Read the Riot Act"
W. S. Copeland told the association
OF the conversation he had had with
Col. Button over the long distance
telephone yesterday morning. He
said that Col. Button seemed glad
that the public OF this city 3 arous>I
against the Trust and that he would
like to have the opportunity OF read
ing the riot act to the combination
The commissioner also said that he
thought the insurance combination
ola 81 MI in a a
criminal combination In restraint of
trade.
W. Z. Cottrell made a lengthy ad-
dress. explaining the insurance situa-
ton. The point of his address was
for arbitration between the associa-
ton and the city council for the re-
moval of the ten per cent. He declar-
ed that the insurance. could not be
written in independent companies be-
cause those companies did not dare
to come here and write insurance at
rate lower than that prescribed by
the combination. IL they did. the
speaker said, che powerful companies
in the combination would crush the
independents elsewhere.
Wouldn't Be Victory.
He also said that IL even the city
won its fight in the courts. it could
DO no more than run the association
out Of Virginia. The combination
would then. ne said. meet in some
other state. fix the rates and direct
the agents in Virginia to write at
those rates and those rates only. In
conclusion. he said that when the
| other fellow had you down by the
throat you must arbitrate with him .
Addresses also we're made by "A.
Moss. Councilman Emmett W. Mil
stead. Henry B. Holmes. Sol Peyser.
Elias Peyser and John r Morton.
Nessrs. Morton and Moss favored a
I fight 10 the finish a. did the other
speakers. Elias PeyseF wanted the
association to accept the offer Of the
insurance commissioner and made a
motion to tina; end. II vas a. the
suggestion OF ar. Holmes that the
committee was directed TO send a
copy o: the resolution to the attorney
general
! Chairman George Nclms Wise. Of
the CHAMBER Of Commerce COMMITTEES
on Hesitation and taxation. was pres
cnt and spoke on the insurance MAJ.
ter. lie said that ar effort 20 get
the legislature 70 pass a Law rcgulst.
ing the IRE insurance rates IN Vir.
EinIs had been made last year. but
that the bill never had gotten through
The last Legislature.
Prepare Resolution Today.
/ The committees Of the Merchants
Association and the Chamber % Com
mcrce viii mec this morning 70
craf the resolution and D. v.Ii be
mailed - Col. Button a. soon a. prac.
ticahic
Chairman Caleb D. West. 81 the cify
council nnsncc commiffcc. via today
Ssh CITY Attorney J. A Nassie Tor
an opinion 81 20 The lcgai status oi
the Insurance matter and a. soon A.
INST oplnion ran b secured. Chairnan
West an cali . special meeting II
fthe hnance committee % take some