Salt Lake Tribune | 1906-07-21 | Page 1 | Taking Advantage of Earthquake Clause

TAKING ADVANTAGE OF , EARTHQUAKE CLAUSE Some Companies Doing Business Busi-ness in 'Frisco Settle . , With Part Payment. SAN KRANCISCO, July 20. It is reported re-ported that the Commercial Union, Palatine Pala-tine aud Alliance Insurance companies have commenced to pay their San Francisco Fran-cisco Arc losses on the basis of 75 cents on the dollar. According to policy-holders, who have been besieging the local offices of tho three companies for weeks past, they were told they would havo to await the decision of the homo offices before payment could bo commenced, but that full settlements would probably be made. Stands by Earthquake Clause. Finally it was announced that ageut3 from London were on their way hero with plenary power to effect n settlement. settle-ment. The representatives of tho companies com-panies arrived Saturday and after making mak-ing an investigation announced that there was no doubt as to the validity of the earthquake clause which is embodied In their policies and that If they concluded the flro was. as a matter of fact, the direct or Indirect result of the earthquake earth-quake they would pay nothing. Notices wcro finally sent to some of the policyholders policy-holders In the company that their claims would bo paid on the basis of 75 cents on tho dollar.