The daily banner. (Cambridge, Md.) 1897-2008, 1917-09-26
CITY UNDERWRITERS
LOSE TO INDEPENDENTS

Baltimore City Carries S3,o10,0o0
! Insurance For S11. 200 Il lcar-
! Business Placed With Companies
| Not in The Underwriters As>Ucia-
tion-ContraCt is Al u Rate OF
SIP Per Thousand il Near--Nn-
nuai Rate Onercd City Was 81
Per Thousand.
Approximately $14,UVU.V0V worth
OF city property Inquired in discus
sion at a meeting yesterday OF the
Board of Estimates as to the mum
Der, location and character OF public
buildings that should be covered i'll
fire insurance policies TO be placed
with Grant StoCkham u Co, Opcrat-
ing independently Of the Baltimore
Association of Fire Underwriters and
representing in this insurance some
80 companies
The board first thought of placing
81 600. 600 worth of insurance and
scattering il among buildings conSld-
cred "haZardous risks but the pre-
MUM was beyond the figure Mayor
Preston was willing to pay in Il lump
sum. Mr.. StOckham offered S5.uou.-
GOO worth OF insurance for five years
at a cost Of $j6 900. but would not
agree TO let the city have it on an
annual instaIlment plan, suggested
by the Mayor. unless the policies
We're taken out on a yearly basis OF
40 cents per $1,000. y five year poll
cy will cost at the rate OF 50 cents
per $ 900.
Before giving Mr.. Stock ham the
contract the board Will have chief
Engineer August Enrich. OF the Fire
Department.. make survey OF The
municipal buildings and select those
he thinks should be insured. The sur
yey will start at once and the amount
OF the insurance will depend upon
Chief Emrichs report and recon
mendatiOn.
The Mayor seems to feel that the
insurance should not cost the city
more than $1,000 Il year. which
represents the interest on an insur-
ance fund aggregating $3.50, 600. The
board thought Tor time that 81
600. 900 worth of insurance would be
sufficient and figured that Il tiYe-year
policy would cost $4,000. John
Hubert. President OF the Second
Branch City Council, suggested poll
cies TO the amount OF $1,000 900,
which would cost 100000. half OF
which is now available. He said the
additional $4,000 could be carried
in the ordinance estimates OF 1918.
1t was stated that the rates offered
by Mr.. Stockham We're under those
of agents in the local Association of
Underwriters by more than half. The
city administration has been after
10
cause of feeling that il has not
lowered fire insurance rates in Balti-
more to figure in keeping with the
amount of protection afforded by the
high pressure pipeline system and
the creation OF several additional en-
CINE and truck companies since the
fire of February and :, 1904.
1t is thought the Board of Est
mates will issue a statement at the
time it gives Mr.. Stockham the con
tract explaining lis reasons for pa
,ronizing him in preference to local
firms identitied with the Association
OF Fire Underwriters
When II makes up the tax levy
budget for 1919 the Board of EST
mates will provide for the installa-
ton in municipal buildings OF eNtin-
guisherS to be maintained by the
Fire Board. That board is 10 recon-
mend the buildings in which the eN-
tinguishers shall be placed Chief
Engineer Enrich has already sug-
gested that the sewerage disposal
plant be protected in this way. f.X-
tinguishers are also TO be placed in
the City Hall Court House the main
building and hospitals at Bay View
and many of the Older school houses.