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Show FALSE REPORTS CIRCULATED j Periodically, So.md industrV is attacked for its manner of doing business, itsrates charged, its system of selling or jsOme other cause. ( ' U ' I ! t f K ' ' There is always some person, organiza-, organiza-, tion, state or federal bureau or conimis-sion conimis-sion that can run the other fellow's business busi-ness better than he can himself after a lifetime of experience under competitive conditions. Recently, charges of profiteering were brought against fire insurance companies compan-ies operating in California by a bankers publication. It is a matter of common knowledge that insurance companies are one of the few industries whose rates have been on a pre-war basis or lower ever since the war ended. , George H. Tvson, general agent of San Francisco, and one of the pioneer insuv ance men of , the Pacific coast, refutes tin Charges of profiteering in an emphatic manner and proves his statements, which show tliat the records of the home olflces of the companies doing business in Cali-f Cali-f onia over a period of fifty years, registei a loss of $62,000,000 in excess of premiums prem-iums received. The figures from 1871 to 1919 are as follows: Fire premiums, (Calif., $441,634,780 Fire losses incurred in-curred $314,467,352 Expenses incurred in-curred $176,653,914 Statutory reserve W For Incurred Liability $12,621,793 $503,643,059 Loss for whole period $ 62,008,273 On this showing it will be some time before insurance companies qre able to make'a generUl reduction, in rates in California. Cal-ifornia. No state in the union has profited profit-ed more largely by the stability of Jnsur- ( ance compahies than has California, with its San Francisco fire loss of soroj $300,000,000 which the insurance companies compan-ies met and which vjpecl out all then uu-derwriting uu-derwriting 'profits ,of life time. , Competition is keen in 4the insurance , bjusiness' and hiay be relied upon to re-'duce re-'duce rates as rapidly as safety justifies. ea hi |