The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1916-03-04
rarily 1t has been attempted, and for
q little while rates have been thrown

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rariiy 1t has been attempted, and for
q little while rates have been thrown
open, but, only for little while. caus-
Ing confusion and unrest. and then
sanity returns and the proper and in
evitable adjustment of rates is made
and the ascertained cost of insurance
is demonstrated, Fire insurance, un-
IKE Agricultural Or npanufactured pro-
duets, is governed largely by the law
OF chance. One cannot arrive at its
cost until the contract expires. Hence
1t Is that capital invested in the fire
insurance business cannot afford to al
low their contracts OF policies to be
sold like merchandise. Should it
come about that in any State rates
become excessive and profits abnor-
NAL there are many outside compa-
MES that would rush in to share these
good things. and rate adjustments
would naturally follow.
The companies have spent thou
sands Of dollars and are continuing
to spend big money in organizing rat
Ing bureaus and maintaining expen-
sve machinery for rating and for adj
vising the assured as to fire protection
and reduction of the cost of fire in
surance. The e. e. u. A. employs me-
chanical engineers. electrical engi-
neers and other experienced experts
at large salaries for their services, and
these are freely given to the insuring
public free Of charge. The proviso. in
the first section of the bill admits by
ampltcation all that we contend for.
Therefore. instead of shutting out
the Association it ought to be encour-
aged and rewarded as. public bene-
tfacter; and every effort should be
made TO hold up its hands. Surely the
experience of companies in South
Carolina does not show that the busi-
ness has been profitable: on the con-
trsrS; the losses and expenses have
for several years eaten up the prem.
iuma: received and the business has
been, conducted at a loss. To bring
about a more healthy, condition; to
teach the people how to improve
their risks and reduce fire losses and
thereby reduce the cost of FIRE insur-
ance is the mission Of the 8. e. u. A..
To, .excommunicate 50 beneficial. an
institution is Observation-Disclosures Of the
worst sort and reflects on the intelli-
gence and business sense of the State.
# would be as reasonable to put an
AxtiDguisher on, chambers of COM
imercS. boards Of trade and like as
lsociations. These are to- certain ex-
tent organized and conducted for the
benefit Of their membership and in
cidentally Of the communities in
which they operate. z The s. q. u. "A.
b engaged in a propaganda for the
conservation of the resources Of the
Statsoby reducing the fire waste. "A
dollar destroyed by fire is gone;' Is
annihilated. The work and mission
Of the s. q. U. A.. therefore, deserves
the well done" Of every patriotic cit
izeh.
Section 2. The provisions Of this
section are SO drastic as to. suggest
venom Of .. glaring type. The privi-
fege to agree upon an uniform scale
lof rates for the protection Of their
business is denied under q penalty of
heavy money flne and imprisonment.
How the companies can be imprison-
ed is q problem which the advocates
of the law do not explain, The bill
places the companies in the category
Of criminals and by it's extreme meas
ures seems to Justify wholesale
withdrawal OF these ORGANIZATIONS
upon which the citizens and property
owners and business interests of the
State are indispensably dependent for
indemnity against the calamity or
loss by fire.
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