Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-10-09
Mayor Tebbetts Gives
Interesting Address
Before Rotary Club

At the regular meeting of the Wat
erNllle Rotary club yesterday noon
at the Elmwood hotel, Mayor Leon
.. Tebbetts gave an interesting ad-
urcss concerning the insurance bust
ness. Several guests were present al
the meeting and few business tlan-
sactions We're discussed. The Mayor
spoke as follows:
THE classification which | have
the honor to represent in this cfuD
is closely allied with the fire insur-
ance business whose invested capital
is the largest of any concern doing
business in the United states todaH
And while | have been engaged in
the fire insurance business for the
past nine years, it has only been my
privilege for two years to represent
q company as special agent and ad-
Juster During that time ] have had
an opportunity to come in contact
with the insuring public. and from
this brief experience | have found
that to he successful the adjuStcr
must al all times enter into the work
with honesty and fairness. Probably
no business today is conducted on a
higher level than that OF fire insur-
ance underwriting and the test of
the company and the agency writing
the insurance comes only when a
loss occurs.
"All companies want to pay every
just claim and the attitude of the
adjuster in settling losses may be
the means of increasing the business
for the local agencies, who are the
parties coming in personal contact
with the insuring public.
This week of Oct. Sth. to 18th. is
being observed as f'e prevention
week throughout the L. s. and the
Widespread interest in fire pre-
vention this year is evidence of the
fact that the public have been
shocked by the appalling fire record
of 1892 into realisatior Of the crit
ical need for constructive measures
for promoting public safety from
fire hazard The sacrifice from fire
last wear represented forty human
lives each day. 1000 worth of prop
erty for every minute, one dwelling
for every -four minutes, one farm
building for every seven minutes.
fifteen hotels for every day, five
school houses 70" every day. five
churches for every day. four general
storage warehouses for every day
one hospital for every DAY. \ total
OF 1921 .0n0, 10000 worth Of property.
This is equivalent to the interest
on a capital sum of S10.O0n.O .oUN.Qp
which represents Americas huge in
yeStment in SenscieSS and Unncc"s-
sarv destruction. Tie total amount
Of fire insurance placed on property
in the L. s last year was S04.' So
749.O5S. with premiums received o.
S545 .560.SSf, total losses adjusted ana
maid during 49, amounted to SILL
39s. l6S. The fire losses for I'll" moSI
of August last in the /. :. amounted
TO s25.656,500.. figures for September
not vet available. ,
with this enormous loss in ~
America. which is known as the land
If opportunity and individual liberty
had it's largest cotton consumption
largest pig iron production. largest
steel production, largest crude on
production and largest residential
constructions and while the losses 10y
fire since 1918 have amounted I"
nearly $4,000. 000 600. Our annual ma
tional income has increased from
ss4 COO .000. 900. to $50 100000 600. our
aggregate savings deposits have in
creased from SG,000.000 900. to 81
600 nO0. 900. our national bank dc
nosits from $4,000, 900. to Sl1.ooo'-
900 600. and when we hear some pes
simist ask what's the matter with
America we need only 30 say 'Shcs
all right.