The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1916-03-22

fA IAN A1fD e0V
eratisn Of thegs. =, y, "A: Ono build
Ing. $1.sS; another te.75: another.
-; another. ~; another, 70; another,
q; another, $3.so; another. $3.50: an
other, $40: another. $s.l6: another.
@s.s0; or an average Of S1.s5. It
would appear from these figures that
the state 10 not destined to suffer
greatly from the destruction OF the
8 p. u A. Insurance was placed
with samueiA Cornwall q Stevens.
YOURS sincerely, ia. Banks
''Mr. stevens and Mr.. LATourette on
Saturday after left were called to
the once Of tho insurance commits
sioner In response to a telephone mes
sags 70 my ONCE from the insurance
coimmissioner to the effect that the
commissioner would have to see that
the law as to residence license, etc.
t.f those handling insurance In South
Carolina had been complied with. The
insurance commissioner stated that
rumors were flying thick and fast as
10 the activities OF Mr.. Stevens and
lMr. La'rourette In south Carolina,
'lnd that It was his duty TO be satis-
lied that they were not violating the
criminal laws. Mr.. McMaster met Mr,
g. A. Guignard on the street and told
him he would not make inquiry as to
any insurance placed by Mr.. Guis-
nard. but that no agent not comply
ins with the law as to license. reM.
tisnce. etc, had the right 70 place m
surancs in South Carolina. and II they
did they were liable to arrest. 1
"Mr. McMaster was entirely within
his technical right as insurance COM
missioner. but as those gentlemen
were not soliciting insurance, having
come here purely on state warehouse
business and In an advisory. capacity
with me. and with q sincere desire to
render % aid Ia handling this COM
plieatsd situation iatsiMssntly. they
wrote zna y letter from Charleston
saying they would not come back 10
Columbia. but had gone to New York,
assuring me- that my stats warehouse
rotton woald be taken care OF and
that ftswss 3 matter of indifference to
them whether they xot any outside
huslne1s or not. rh
II believe that this situation can b
handled through samuels cosnwall
q stsvsAA. but. there - no use Tor me
20 bring men Of that calibre and
chasactsr ts.south Carolina 70 ala me
Il they are to be thrsateued with ar
rest and made to feel Iansscure in the
transaction of busAsss., yugsst ,l.os.
1T might be Well. sover,0r. for me-
TO- give you what conalderfa correct
anAlysis Of fhs aituation. i srpatisnt
is sick you try to diagnose the case
ana find the nature Of the disease.
I'm my Judgment there are four
things primarily causing high insur.
ancs CdlfrS risks In South Carolina.
H. There are too many agents,
and the n0uaber causes the excessive
corataiasioflS pAia 10 them
~ The valued policy law. which
means that u have q building that
costs me- $500 aud II looks ltks it
might have COST ai,soe, and take IN
inexperienced agent and cay, This
building cost me $t,eeo,' and; ret
thr'se-sourths Of si,sea insurance On
Il when It did not cost nae but 81
zoos the y1Iue u Axed by tAs agree
naent Of the agent. and II there Is =
total destruction the insured csn coll
iectJ htsi fun sainHtidn.s no matter
what tina facts may be- as to the ac-
tual value. which enables a crool: to
over-insure property and the hon.
eBt man has to nay It.. r, So
q. Tho municipal taxes in South
Carolina, the tlfty or more companies
entered IN South Carolina, probably
pay an average Of $500 at the lowest
In municipal licenses. or minimum
total Of Sss.ooo, 49,. ~ !, y'
''The ciasa OF people the companies
III A. a t.. o