The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1915-08-17

were giving the cotton manu-
tc-Wlt, Is cents per $4,000
three-year policy. The d.r
also made for a special rate
owned 10y tn. -
thls lower rate Was ottaiu.
rate obtaining on mill tenor.
henderson, Vance County ~.
trate- The rate given the a.
on h tenant-houSe i al
per $4,000 per year. or $Ipor
years. II a mill operative ms.
the null the house IN which r..
his rate Is rs cents per $rntr
annum and if he is able \,
adjoining house and rent tbat
same mill operative. his ran.
cents per $4,000 per annuu
the null rate Is only 33 Ia c.+--
stated, this was rough atno-
ganlZatlon of the cotton Nance
erS and the competition of -.
mutuals. The Southeastern
ISOLATION was deprived of rf.,
ness by reason of the lower r.t,
by the mill mutuals. Ratl,-
lose h business it resortt5
Factory Insurance Associaurl
the rate fixed by the mill mut4...
have been writing the f.-..
Throughout North Caroline HISS
ton obtains This fact Mil ,<,
to you why it is that when It.,
ing property sells il to tn, t..,
mill he cannot get the mn
his insurance policy.
Rate Increases When rrn,.,t,
Changes Hands.
If on the other hand
tenement hOnSpS from =
the insurance rate is increase
rate of increase differs j. G.r.r,+
localities. but | am Informed tn
some instances it IS as much ~
What has been accomplished. Nh ..t
way by the cotton mills thrOu.
mutuals has been a~ccomTl~h,
the lumber business and lat.u.
business. by lumber mutu.f~
hardware mutualS People tr:...r .n.
these enterprises. by reason tt .tI,.r.
: ability to organize have beer .8.o
secure lower fire insurance rates
are given individuals. The Ntr1. ttt.
: that the insurance companies ..
writing n business at such 'att~ s
to my mind conclusive PROT 81 i
: these rates are not too low &
profitable to the companies
Rates Have Been Increased
e 1t is true, as stated ahol, a .t
certain business enterprises uate
| secured a lower rate. but dUrr. tFe
n time the rates We're being lowered tr
these enterprises. during tn, ttc
that the legislation was heiu2 ,%fas.-
ed to reduce fire waste and trt BOSS,
and while fire fighting cthcicue5 ls
been improving, there have t't -
II creased in rates which show t ry
q mind that the general tenler, \
d upward. The investigation l} tIr
Legislative Committee disclose me
IS following facts:
e AS recently as October 2&1h
Le the insurance companies ~prorIut..f.i
o e rates for three and five lsa-
Ie policies on certain property, st That
re now d policy for three years VIII eo,
two and a half times the premium tar
'd one year, and a policy for ~ Nt"f'
will cost four times the premium ir
le one year. For many years Fl \otln
re Carolina the insurance coliIa' "
r have written policies for q t'1" '
three years, charging therefor f@
is the premiums for one year. ;.lna
III Cies for the term of five Neare
he cost Of three times the pre1nI4f f'
n one ear. To put this IL co' t'.'
form: Where the compaElte
heretofore been charging s. i1:
eS policy for three years, il Ia gI.te
n SO. and where it has been lf.
SO for a policy of five years ~
" charging $12. The net reSult
s. fore is an increase Of Is per oef
I'd the three-year policies and 33
ny cent on five-year policies. II Ge, L
IN require any skilled mathenlaul
X count this increase and the haH
re individual in the State. thll-f
en- may be unable to read ui
bv knows the difference w
ut $40 and SO and So.
by Increase on Furniture and iiihtl
,eS Dwellings,.
n On MAY 18th 1912, the lHSi
IN companies promulgated an 1
'ty in rates on house hold and
n furniture and on tenant
tn dwellings, over and above int