Historical Newspapers of South Carolina

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Mi DfSTOAWCK RATES. ?? 1 ?' 91* fotlowiag seotiotas from ths an report of Stau Insurance Com? er Meataster, covering the ltll. which waa presented to the the ltl? session, con that throws ooneider tsjh?; est the controversy that Is rriissjt there has hoes disertm thot there woo need of tt may he that Um saw does not moot the II of the oaes, hut for the insur to easums the pool they ore without fault, loot for tsa State to onset a law snd trust enforcing un ss untt naMe. Corn says in his report discussing fire Insurance tooth Carolina ooatoat to have insurance rates mods' as they seen made la the pest? Ths average man on the street take that the Sninhsnsura tJader aakos the fire in rotos for the State of South his osturoj susptston of enmity towards all him very Southeootoi when he he fisxfts tt appar got as*r other rat them mm about J.OOO.OOt fire Insurance Written In South Carolina eooh year. Of tble ghaut |i70,ooo,eoo U written at the gOtse fixed by the Southeastern Un Ssewrtrere* Asso lotion, about $110, of this going to osm ponies the South Association, gjSel about $ee.tet,f?e going to com saoies whlofc are not members of ths fcsjlhiaeiiia Usgei srUersf Assorts sW hat wftJch write at the rates by the Southeastern Undsrwrlt OT ike $I11,0**,000 written at oth ST astsetha* those fixed by ths South SMSTt Underwrite re* AisociaUon, r gSest 141,0*0 is written by the > fhetny loonr?not Association, about ; Me>??,tet written by the faetory and \ sjser foreign mutual*, about $17,000, tee written by the domosUe ma* teas* and it is estimated about $10. tee.toe goes to unllosnssd compa As la seta. llTt.aee.ees>?? written at Sooth eastern Underwriters' Asso etaSoa ?tos. and $111.0*^,010 at oth? er and. gsnorally aniaklasV Very much than Ssofhssslirs Underwriters* rates. Of the 141) fire in oosnsoelss of all classes, 11 tl are mem i of ths South Undorwrlton ^asoclatlon and II are at This ?Sitesneat would indicate that fjhe South tastes n Underwriters' Asso Is not la control of the situa by any means, and this is true. II is also true t..at the average on the street must take the rate by the Southeastern Underwrite Association or do without Insur? es a general rule. An analysts of the Insurance placed at rates other than those fixed by the Southeastern Underwriters' Associa? tion will show this. The $41.000,000 insurance placed In too Factory Insurance Association is at much loss rates than those fixed by ths Southeastern Underwriters' Association. On two risk* In Colum? bia, Identical in character, but the sxposores making No. 1 preferuble to No. 1. the Faetory Insurance Associa? tion gars ii rate of 10 cents on No. 1, and the Southeastern Underwriters' Association gave a rate of 10 cents, subsequently reduced after much agi? tation to ii cents on No. 1. Ths Fac? tory Insurance Association would not give a rate on No. 1, thout h the Fac? tory Insurance Association is compos? ed of 11 companies, 10 of which are members of ths Southeastern Under? writers' Association. Oos may ssy that It Is a wheel with? in a wheel. As a matter of fact, the Factory Insurance Association Is an association of stock companies formed wwm I Jo compete with the factory mutual I insurance companies and of necessity It must make its rates approximate? ly as low as the mutuals or it will not get the business. Therefore, It fixes its expense of operation to meet the low cost of the mutuals. The Factory Insurance Association pays 10 per cent commission to agents. The Southeastern Underwriters' Associa? tion pays from 16 to 25 per cent. The Factory Insurance Association takes only certain classse of risks, such as are taken by the factory mutuals. The Southeastern Underwriters' Associa? tion takes all classes. In the cases under consideration, two cotton ware? houses, one belonging to a company owning a large number and being in position to place entire line elsewhere. The other warehouse is the only one of its owners. The Factory Insurance Association would not rate it and the Southeastern Underwriters' Associa? tion would not giro a leas rare than one hi?f more than the rate made by the Factory Insurance Association on the other warehouse, though practi? cally ?11 of the members of the Fac? tory Insurance Association were mem? bers of the Southeastern Underwrit? ers? Association. So the Individual citizen of small property finds no relief ;ln the presence of the Factory Imu ranee Association. Indeed, in those risks rated by the Southeastern Underwriters' Associa? tion Itself In competition v.th the factory mutuals no relief comes to the private citlsen. For instance, the Southeaster^ Underwriters* Ausocia tlon gives i rate of 40 cents tor one year, ft20 for five years on tha ten? ant houses of the Klchland Cotton Mill, end on dwellings In the city of Columbia, on paved streets, with full fire protection. It gives rates of 96 cents for one year and 63.80 for five yeara 80 from the $75,000,000 or more written ia the Factory Insurance As? sociation and the factory mutual the private citizens get ao relief .from whatever rate la charged by the South Underwriters' Association. "Are a tew mutual* for drug? gists, mwdwaxe dealers, furniture deeloah laundries but thesi all carry limited lines, and. while they cause savings to their patrons, they; are la ae eeaee competitors with the j Southeastern Underwriters' Asaoela The sains Is true of the $17.000.000 carried la domestic mutuals, which operate la about twelve counties of the State. They work great Savings to their , members, and, In thousands of in ?tan ens, give the only insurance ; carried, but they do jkot affect the rate* mads by the Southeastern Un? derwriters' Association. The insurance placed in unlicens? ed companies Is that of citizens who control lange lines, and, while they secure groat reductions In rates, so far aa the general public la concern? ed this process provides no relief from the rates made and provided by the Southeastern Underwriters' Asso? ciation. Illustrations have bean given of tho differences In rates made oy the Southeastern Underwriters' Associa? tion itself vhere It comes in compe? tition with the factory mutuals, and between the Southeastern Underwrit? ers/ ions elation and the Factory In? surance Association, the latter asso? ciation beini: composed of a number >t? tho same companies composing the Southeastern Underwriters' Associa . Just as marked differences are to be eeea In the Southeastern Underwrit? ers' Association rates and those given by unlicensed companies. * A few of these that have come under the notice of the department are: Southeastern Underwriters' Asso? ciation rate lor 8 years, $1.60; unli? censed companies, 90 cents. South? eastern Underwriters' Association rats, $1.76; unlicensed companies. $1.60. Southeastern Underwriters' Association rate for 8 years, $4.63; unlicensed companies, $8.00; South? eastern Underwriters' Association rate, $1.10; unlicensed companies, 60 cents. Southeastern rate, 60 cents; unlicensed companies, 30 cents. The instances might be multiplied. The variations are too great to be founded on good reason. There is something radically wrong in rates or classifications or practices or meth? ods, and, as the laws now stand, tho rates, the classifications, the practices and tha methods are entirety in the keeping of the companies. It la all beside the mark to say that reduction In fire losses will solve the matter. That has nothing to do with tho case. Fire losses fall on the Factory Insurance Association, tho factory mutual*, tho domestic mu? tuals, the unlicensed companies an well as the Southeastern Underwriters' Association. This is the case the department makes up. There are several methods of so? lution. One is tm enlargement of the sphetsj of the mutuals and thereby the bringing about forcing of rates by clssses to natural costs with low ac? quisition snd management costs. Another frequently tried by with doubtful success Is tho forbidding of all combinations of companies and agreements as to rates. A third is absolute domination of rate making power by the State. The department believes in careful supervision of the mutuals, but such treatment as will permit their growth In safety, and in a modified control over the rate-making agencies of the companies as will prevent discrimina? tion and the imposition of unmistak? ably unreasonable rates. State Warehouse Commissioner McLaurin's disclamer of all responsi? bility for the sections of the Laney Odom anti-compact law that are most objectionable to the insurance com? panies, shifting the blame to the shoulders of Insurance Commissioner McMaeter, is suggestive of the old story of the negro who went jack hunting for deer and killed his mas? ter's thoroughbred colt. ? e e The schools of Richland county are feeling the pinch of hard times, re? sulting from the cutting off of the big income from the county dispen? sary. The city of Columbia has found it necessary to vote an extra levy of five mills for school purposes. The extra tax will seem burdensome at first, but the people of Richland will soon reach the conclusion, as have those of other counties, that to be rid of the dispensary is worth all It costs. ? ? * Ths ordinance, adopted by City Council at the meeting held on March 14th, to force all property owners to make connections with sewers, wherever their property abuts on streets through which sewers have been laid, or to erect sanitary, fly proof dry earth closets in sections of the city that are without sewerage, is a particularly rigid law; and property owners will be on the safe side if they acquaint themselves with its provisions and requirements and take steps to obey the law to the letter. This ordi? nance is a sanitary measure and was enacted for the purpose of improv? ing hsalth conditions by abolishing the cause ajid breeding places of pre? ventable diseases. Compliance with this ordinance entails a certain amount of expense, but there is no reason why any citizen should be per? mitted to maintain unsanitary and disease-breeding conditions on his premises that endanger not only the health of his own family and tenants, but also the health of his neighbors as well as of ths entire city. The ordi? nance becomes effective April 1st, and after May 1st non-compliance with its provisions is punishable by fine or im? prisonment or both. see Two other ordinances, adopted at the same time, are of special interest to the public. These ordinances re 1 to to interference with the fire de? partment at fires. Citizens, especial? ly those in vehicles, are forbidden by one ordinance to approach the scene of a fire, and the other ordinance re? quires all vehicles to give the right of way in *he streets to fire apparatus when gv.ng to a fire. The penalty tor failure to obey either of these or? dinances Is a lino or imprisonment. ? ? e e The effort of Dr. W. W. Long, State Farm Demonstration agent to arouse Interest in the plan to establish pack? ing houses in South Carolina for tho purpose of promoting the live stock industry by developing a local market for the surplus cattle and hogs raised by South Carolina farmers, has met with an immediate and enthusiastic response. Several towns are already enthusiastically at work to raise the capital to erect a ^packing house, and there is danger that the packing house industry may be overdone at the out? set, if all the plans come to fruition. Community pride and an ill-consid? ered ambition to take the lead in a new line of industry may rush some towns head-long into investing a large sum of money in a packing house be? fore that section produces sufficient live stock to furnish the supply re? quired for the successful operation of a plant of that description. A packing house to succeed must have an ade? quate supply of live stock and it must also be able to sell its products in competition with the big packing houses that have reduced the econo? mical operation of the business to an exact science, utilizing and turn? ing into profit every by-product of tho animals slaughtered?only the squeal of the hog and the bellow of the steer escaping the efficiency expert who is on the Job. Far be it from us to throw cold water on the rising tide of pack? ing house enthusiasm, but careful in? vestigation and mature consideration before hund of every element that, en? ters into tho success of a small pack ilng plant may prevent needless finan? cial loss and useless regrets later on. Local pride and temporary enthusiasm often Induce business men to Invest some of their money in a local manu? facturing enterprise, but the same men will refuse to buy the products of the plunt if they can obtain olso where the same products for loss money or a better and more salable article for the same price. This is one fact that should not be lost sight of. Copyright 18 ic by ft. J. Reynold! Tobacco Co. the national joy smoke is the real tobacco for jimmy pipes and makin's cigarettes Get a Fresh Start! For men who got away to a false start on a pipe or home-made cigarettes Prince Albert has a word or two for what ails their smokeappetites! Forget you ever tried to smoke, for Prince Albert is so different, such a fine flavor, so cool and cheerful and friendly, youll get a new idea of smoke joy 1 The patented process fixes that?and cuts out bite arid parch! And this little preachment is also for men who think they're on the right track. All to be said is that the sooner you lay out a nickel or a dime for ? supply of Prince Albert, the sooner youll make a discovery that'll be worth a lot to your peace of mind and Buy Prince Albert a/I over 4-/vnariio I the civilised world! Toppyrmd lOTlgUe 1 0OOJtm Em9 bo 5 i Toppyrea " *' ^d^iKTiiJh ^et the idea of smoking all you want \np7?nd humid" without a comeback?that's P. A.I umidort?one eryttal-glata j with ?pmnme-tnoUtmnmr top that hemme the tobacco mmxh Hm? mammy mlwaye f R. J. REYNOLDS TOBACCO CO., Wirwton-Salem, N. C On Ac rever* *Wb of Ak?hgvoi thymwiUiMi: "P?c*? Patented J?Jr 50*. 190Y" three men mu Ibdon! ?UMVJOtt COTTON MARKST. Corrected Dally by Ernes* Field, Got loa Boy?. - il Good Middling 1/2 1-8. Strict Middling 11 7-8. Middling 11 5-8. Strict Low Middling 11 1-8. Low Middling 10 5-8. Staple cotton 12 to 16c. NEW YORK COTTON MAKKirr Yoatdys Open High Low Close Close Jan. . .12.10 12.49 12.45 iZ 18 13:41 Men . . 11.86 11.85 UM H-&0 ' May. . .11.98 12.06 11.95 12.04 11.94 July. . .12.15 12.24 12.14 12.22 11.11 Oct. . .12.26 12.34 12.25 12.32 12.25 Dec . .12.41 12.49 12.41 12.48 12.41 Washington, March 16.?Count von BernstortT, the German ambassador, under Instructions from his govern? ment, formally notified the state de? partment today that no German sub? marine was concerned in the sin'-i" of the Norwegian bark Sillus, from which seven American mem Dors of the crew were rescued. POPLAR LOGS ^HHTSBa Hi ITBBHBB Will pay market prices for good logs delivered our Mill. Call or write us. Phone No. 679 I Penn-Sumter Lumber Go. Sumter, S. G. innnninminniimmnmmnmmmm Geo. H. Hurst, UiderUker ad Embilmer. Pienpt Attention to Dsv ?? Night Calls AT J. 0. Crals Old Stand. N. Main Phones S^mSoi Candidate's Cards. Announcements of candidates will be printed in this column until the close of the campaign for 15. No cards accepted on credit. At the request of my friends I an? nounce myself as a candidate for the 7th Magisterial District, subject to the rules of the Democratic party. I am in the race to a finish if I don't get but one vote. T. P. SANDERS, JR. mmmmmmmmmm. I j FOR SALE? Small horse, buggy and harness, at a bargain. H, Q. Osteen. .1 M Lumber, Lime, Cement,;? BUILDING MATERIAL GENERALLY ' AND FEED OF ALL KINDS. BOOTH & McLEOD, Socceasors to Booth Shtil*r I,nmhfr A Swnrlr Co. Geo. Epperson's Or J Strxrid Opp. Court Hcuts REPORT OF KONDITION OF The People's Bank at Sumter, in the State of South Carolina, at The Close of Business on March 7, 1916. / ??. > *r. RESOURCES: 1. a Loans and discounts (except those shown on t errf h). $303,669.4}fr 2. Overdrafts, secured, $31S.52; unsecured, $247.51 . 5G6.;0G 4. Bends, securities, etc: .?m$(^ c Securities other than U. S. bonds (not including stocks) owned unpledged. 1,00D^ G. a Subscription to stock of Federal Reserve bfAm Rank. 7,100.00 ? ^ b Less amount unpaid.3,550.00 3,550.00 3,6.5A,0^ 7. a Value of banking houso (if unencumbered ... 15,04^.7^ 8. Furniture and fixtures. 5,2,!&ty. 10. Net amount due from Federal Reserve Bank . G.O.O^po,, 11 a Net amount due from approved reserve agents , or[., in New York, Chicago, and St. Louis.17,639.29 ^ b Net amount due from approved reserve agents '?ffojs in other reserve cities. . 4,383.37 22,02$?^/ 12. Net amount duo from banks and banker (oth- v er than included in 10 or 11).. 11,448,76, 14. Other checks on banks in the same city or .,ttil town as reporting bank..-. mm. 4,01^.7,0^ 15. b Fractional currency, nickels, and cents. 113-P#t 10. Notes of other national banks. 740.0,0 18. Coin and certificates. 7,010^0/) 23. Other assets, if any, Revenue Stamps on hand.. Total.1379,413.05 LIABILITIES: 24. Captail stock paid in. $100,000.4)0 25. Suplus fund.*.. 18,400.00 20. Undivided profits.'. . . .9,194.52 c Losa current expenses, interest, and taxes paid.. .2,512.82 6,681.70 31. Dividends unpaid. 8.00 Demand deposits: 32. Individual deposits subject to check. 116,035.90 34. Certified checks. .. 400.00 35. Cashier's checks outstanding1. 67.65 Total demand deposits, Items 32, 33, 34, 35, 36, 37 38, and 39. 116,493.55 Time deposiLs (payable after 30 days, or eubject to 30 days or more notice): 40. Certificates of deposits. 16,165,99 42. Other time deposits. 62,883.60 Total of time deposits, Items 40, 41 and 42 .18,99t.tt 4G b Notes and bills redlscounted elsewhere than at Federal Reserve Bank. 39,830.21 4 7. Bills payable, Including obligations represent? ing money borrowed. 29,000.00 Total.$379,413.05 State of South Carolina, County of Sumter, S. S. I, S. M. McLeod, Cashier of the above named bank, do solemnly swenv that the above statement is true to the best of my knowledge and belief. S. M. McLEOD, Cashier. Subscribed and sworn to before me this 17th day of March, 1916. O. L. Yates, Notary Public. Correct?Attest: U D. JENNINGS, B. C. WALLACE, J. \V. SHAW, Directors.