Daily press. [volume] (Newport News, Va.) 1896-current, 1910-05-13
LOCAL RATES INCREASED
TEN PER CENT YESTERDAY
Southern Tariff Association Puts Ff-
teen Thousand Dollars Additional
Burden Upon Property Owners Be-
cause Council Increased License
Tax-Situstion Discussed at Length.

ever steps may be Necessary to oeeih
the prosecution of the Southeastern
Underwriters Association under the
Sherman Antitrust law as monopoly
in restraint of trade.
This action of the Merchants AS
ISOLATION resulted from the action OF
the Underwriters Association IN IN
creasing the fire insurance rates IN
Newport News ten per cent. on and
after May IL, 1910, because OF the
Increase in the city license tax on
the companies this year. Notices OF
the increase in the insurance rates
were received from the Underwriters
Association yesterday morning by az
OF the fire insurance agents in this
city.
Attorney Consulted BY Merchants.
Before the Merchants Association
met. several of the members conferred
with attorneys and with members OF
the city council relative to proceeding
against the. insurance trust under
the Sherman Antitrust act. The at
torneys expressed the opinion that
the city would have good case
against the Underwriters Association
on the strength of the notice which
il issued yesterday and the council
men approached expressed their en-
tire Willingness for the city authori
ties to push the case against the
association.
President Alex Meyers, of the Mer-
chants Association, appointed Abe
Horwitz and Cashier w. b. Vest, OF
the Citizens & Marine Bank, as
committee to get up information on
the insurance question for presenta-
ton to the city authorities.
Would Lose His Companies.
In response to queries from mem-
bers of the Merchants Association,
President A. l.. Powell, of the Powell
Trust Company, Inc, which company
represents a number of insurance
companies. stated last night that II
the Powell Trust Company should
take the agency of fire insurance
company not a member of the South
eastern Underwriters Association and
write insurance for that company at
a rate lower than that prescribed by
the association the Underwriters
its companies from his Office. IL was
after this statement was made that
John r. Morton offered a resolution
setting forth that the association re-
Guests the proper city authorities to
take whatever action may be neces-
sary TO begin the prosecution of the
Insurance trust"
Th,t of forp,fpr local
mutual protective insurance company
was brought up last night by J. Z.
Wilkins, but 1t was decided not to at
tempt this for the preset at least. In
this connection. President Meyers
said that local business people might
be able TO insure in Lloyd's, which is
enc of the largest insurance COM
panies In the world. and which is not
a member OF the Southern underwrit-
ers' Association.
Fight to The Last Ditch.
There was some talk among some
of the business men and merchants
yesterday afternoon of petitioning the
city council to reduce the license tax
or the Insurance companies so that
the Underwriters Association would
tske OF the ten per cent. increase.
but the Merchants Association last
night opposed any such procedure.
President Meyers urged that the as
ISOLATION and the city fight the in
surance companies to the very last
dith not only TO compel them to take
also 10 compel them to reduce the
rate existing before that increase be-
came effective yesterday.
Great indignation prevailed in this
city when IL became known that the
ten per cent increase had been made
by the insurance combination. Many
% the city officials and practically
al OF the business men. including
some OF the insurance agents. de-
rounced the action. MAYOR Jones
said tina; the increase in the rate
was no more than was to be expecf-
ed from that crowd President ID.
;. Jones. Of the common council. de-
ciared that all Of the people Who are
able TO DO 50 should not take out any
more Insurance policies while the In.
crease Is in effect. He declared that
!, ~ this increase u In effect when
the policies be nov carries lapse he
VIII not renew them. Several other
pople who carry considerable Insur
snoe made the same statement.
Discriminate Against This City.
In his address before the city
council last month when the license
tar On the Insurance companies was
ceing considered. W. =. Coffreii. a
locsl Insurance agent. stated that the
tnoes~riiers' Association had made
an increase Of dve pcr cent. IN the
rate IN Norfolk q Few years AGO be.
cause Of alleged excessive TAXATION
| Dis sfalemeni naa reralled a. n