The Columbus dispatch. (Columbus, Miss.) 19??-1922, 1921-01-02
FAIL TO UNTANGLE
INSURANCE TIE-UP
Efforts OF Representatives Go For
Naught.

|
Jackson, Miss, Dec. 30.-All eff
forts looking, towards a compromise
of the antitrust suit filed by the
state revenue department against 100
fire insurance companies, doing bust
ness in Mississippi, advanced at q
series of conferences here, which be-
gan yesterday, have failed, according
to announcement of local committee
Of underwriters headed by r. e. Ken
nington.
\ The fruitless conferences, which
were attended by State Revenue
Agent Stokes V. Robertson, attor-
neys representing. the companies,
Mississippi insurance agents and rep
resentatives of various business in
terests, ended at noon. Up TO that
hour there had been no announce
ment Of determination to cancel out
standing policies because of the suit,
but it is believed wholesale cancella-
tons will follow.
The companies are proceeding with
plans to fight the suit when it is
called for hearing in the Kinds Coun-
| ty Chancery Court next Monday.
The situation, according to the
Jackson committee, summed up is
| this:
The revenue agent declined to with
draw the garnishment whereby he has
tied up funds of the companies
amounting to nearly million dollars.
Gov. Russell refuses to call a spe-
ial legislative session for revision Of
the statutes on which the antitrust
suit is based.
The insurance companies decline to
resume the writing of risks, and only
five Of the 16O companies formerly do
ling business in the state are now
operating.
The governor said he might have
something further to give out IN a
day or two, but it is certain that this
will be in line with his previous dec
laration not to convene the Legisla-
ture.
In referring to the insurance COM
missioner's action in refusing admis-
sion to certain companies, the term
'tlonboard" companies was merely
used as a term Of classification or
identification by the correspondent.
While companies so far applying are
what is known as nonboard compa-
MES, or not members Of the national
board, Mr.. Henry wishes it made clear
that his action has no regard as to
whether the offering companies are
or are not affiliated with the national
board, but it is based on the law end
the question as to whether sub on
panies can guarantee solvent protec-
ton to the insuring public.
A meeting Of insurance agents with
Mr.. Doyle, general counsel of the
companies, was held at the board of
trade rooms thi; afternoon, and the
general situation was threshed out,
with the final understanding that
there was nothing further to be done
but to wait for the final decision Of
the courts in the pending suits.
Another conference of business men
and bankers with the revenue agent
was held tonight, lasting two hours.
The position Of the companies as ex-
planned by Mr.. Doyle was made clear,
and to this the revenue agent had
nothing to say beyond what he has
already said.
1t was announced today that the
firms Of Watkins & Watkins and j.
B. Harris of this city had been re-
tanned as associate counsel for the
insurance companies.
The state revenue agent, referring
today to the statement of G. J. Doyle
that the fire insurance companies,
during a period of 16 years, chad paid
back to Mississippi in losses $105 for
every 500 of premiums collected"
gave out the following statement: Il
do not believe that Mr.. Doyle can
show figures to support his state
ment." He certainly cannot do so on
the business for the past Is months.