An Advance Of 25 Per Cent

Fire insurance rates have gone up 25 per cent on everything except dwellings, furniture and brick or stone stores.

All agents have received circular letters to this effect and it applies immediately in the entire western field.

It applies to (1) all mercantile stocks except those in buildings occupied exclusively as dwellings above the grade floor; (2) on all frame store buildings ; (3) on all manufacturing risks and other special hazards (including sold storage risks, lumber yards and grain elevators) which have not been rated under approved schedules within one year.

The increase does not apply to risks equipped with an approved standard equipment system.

One of the circulars reads as follows:

You are doubtless very well aware that the business of fire insurance has been prosecuted at a loss for the last three years, and the outlook for 1902 is more discouraging than any of the three preceding years. the companies must have more money for their policies, or else it is only a question of time then a great many of them will be aligned to retire from the business. The public does not want such a condition , as it would mean an exorbitant increase in the rates if the competition were reduce largely by the retirement of any great number of companies.

At a meeting of the local agents this action of the companies was discussed and it was decided to charge 25 cents for each endorsement on policies and  a 50-cent policy fee whee the premium is less than $5.