The herald and news. [volume] (Newberry S.C.) 1903-1937, 1916-01-18

that th>lr insurance mas Deen pIaceu III
the Colonial Fire Underwriters.
There is some misunderstanding
about the insurance which it is stated
has been placed. as this office has not
issued any binders OF policies 10 any
CT the parties named, nor have we
been requested to do so. Under the
circumstances, therefore, We would
suggest and request that you immedi-
atelv correct the impression which Mr..
Barnett and others may have gained,
to the effect that they are protected by
this company, as such is not the case.
,As indicated to you last week in con-
versation in our Office, and again over
the phone today, We are not willing TO
In Sumter, or the territory around or
further say that We will not be in posi-
ton to assume any liability on cotton
in Sumter, or the territory around or
adjacent thereto.
Yours truly,
Edwin G. Seibels, Manager.
AS matter of fact, I did hare bind
ers on the cotton, signed by the Seibels
agency, which was ample protection,
but in order to be on guard in the mat
ter of the cancellation clause, it was
necessary for me to make other ar
rangements, which I did.
I desire particularly to call your al
tention to the last paragraph in the
letter above quoted, which speaks for
itself in regard to the parcelling out of
territory by the insurance combine.
They do not allow one agent to go into
another agents territory, but give each
a complete monopoly.
Now that We have secured the cheap
er insurance, on pro rata cancella-
ton basis, they are offering to write
it at the same rate, and have done SO
in some instances; so that it may
readily be seen how great has been
the moral effect of the state system IN
reducing insurance rates generally in
the state.
l had prepared report, from my
records, giving the details of this war
which has been waged against us by
the insurance trust, but 1 have re-
Trained from embodying it here be-
cause l do not care to do anything
to iniure the various individuals en-
ploved by these companies, and who
have to obey their mandates. A great
manv of these gentlemen l know per
sonally, and others know by Teputa-
ton and for many of them I entertain
the highest respect, and l know tha.
they are not individually responsible
for the condition which is prevalent. =,
If this legislature desires TO look
into this trust, composed of 81 compa-
nies. in clear violation of the federal
law and of article TX, section 1S OF our
own. state constitution, and OF our
statutes in conformity Herewith, / am
prepared to furnish them all the in
formation in my possession. "oulo
not drive these 80 companies out OF
the state. but they should be made to
obey the law, and the iniquitous COM
bine which they have entered into
should be dissolved.
I have succeeded in securing prop
ably the most advantageous insurance
arrangements in the history OF cotoon
insurance. In view of the persistent
fight against us in this regard, backed
by unlimited millions of dollars, nave
felt that more complete report along
this line than am making would only
result in placing in the hands OF our
enemies information which they would
emnlov in the attempt to crush the
comnanies with which We have made
our arrangements, and III tnis coii10o
tion l, beg to submit statement from
the insurance commissioner, which
was published in the daily press on
the morning of December "a, ana a
personal letter which received IRON
him.
If the general assembly, in its WIS
dom, should see fit to appoint a COM
mittee to look into, this feature
should be glad to confer witn the COM
mittee and to go into details with them'
but, in my Judgment, for the reasons
stated by the insurance commissioner
have confined myself to a general
outline of our insurance methods
with the assurance that the cotton in
state warehouses is amply protected
each day, at the market value OF tne
cotton.
A Process of Evolution
It must be remembered that any