Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1915-06-30
FIRE INSURANCE COMPANIES
CLAIM NEW soHEpuLE Is
uNPRoFITAsuE.
INSURANCE DEPARTMENT
PREVENTS INCREASE
Effort Made to Agree on Schedule
Whieh Companies Say Would Pro-
vide Some Profits on Iowa Business
Schedules Must % Filed Before
July 4.
Special to Times-Republican

Des, Moines, June 30.-The insur-
ance companies expect tomorrow to
file with the state insurance depart
ment the rate schedule for fire insur-
ance prepared by their newly formed
rating bureau, was the basis for in
surance rates in Iowa. This will be the
first Of the filings of schedules OF
rates.. There are several other rating
bureaus or organizations and other
schedules will be filled, chiefly those
relating to special classes Of risks.
The insurance people insist that
their schedule that will be filed will
still leave insurance rates In Iowa on
a losing basis and that under these
rates the companies will continue to
lose money just as they claim they
have in the past. An effort has been
made to agree upon schedule OF rates
that would materially increase rates,
but it is said that owing to the firm
ness of the insurance department, this
cannot be done.
What has been done, so 1t is stated,
is that there has been an equalization
of rates-that those which have been
too high are scaled down and those
too low scaled up. The effort has been
to approximate the actual rates re-
ceived on all business, scaling the pub
lished rates down to just about what
they were reduced to on an average by
the discriminating cuts made to get
business. It is well known that the
published rates or bureau rates were
made from 10 to IL per cent too high
in order to allow a coming down
where competition forced the same
though some companies adhered very
closely to the bureau rates. The new
rate schedules had not been completed
early this week, but it was expected
they would be filed before July l. They
must be fled before July 4.
After the rates are filed it will OF
course be possible to have them, as
whole, or any class of rates or group
Of rates, inquired into upon complaint
being made that they are too high or
There will be much in
terest manifested in the first filings Of
the rates.
Hon. w. H. Berry. of Indianola, re-
tires as a member Of the state board of
parole July 1, after having served on
the board eight years. He will be sue
ceeded by William Dennis, of Marion.
Mr.. Berry will devote his time to his
law practice and to his business inter-
ests in his home city.
Il feel that eight years of service in
this sort of work is long enough" said
Mr.. Berry in speaking of his retirement.
"a man can stay too long In this sort
of place. He is apt to get into rut
after too long q service"
80
The secretary of states Office is today
sending out to corporations in Iowa the
blanks on which they are required to
report. The number Of corporations in
the state is gaining steadily. Iowa
are required to report each
year in July to the secretary Of state
and to pay an annual fee Of 81. After
fling it's report and paying the fee the
issues to the corporation it's
annual permit.
A number of bankers and representa-
tives of farm papers here expect to at
tend the national conference Of agri-
culturists and fnanciers to be held at
the Hotel LaSalle. Chicago, July and
8. The principal purpose of the confer
ence is to plan for the cooperation of
the banking interests and the farming
interests. Officials Of the United States
Of agriculture and agricul-
tural college men will take part in the
conference as well as represented ives of
farmers organizations and bankers
The auditor of states office has had
printed a large sheet showing the tax
able value of all property together with
the amount Of state and local taxes
levied in the several counties of the
state for the year 1914. This is always
in the biennial report of the
auditors Office but by getting out an
abstract at this time the information
can be given out before it is too old to
be of interest,