To the Editor of the Nowry-Curma Dau News"
Sm—Yesterday's issue of your valuable paper contains a despateh from Changehun dated- February 22 prominently displayed with the heading "Insurance War Expected int Marchuria." Would it} not be a good idea to. verify _reports such as this one before printing them? The main office of the American Asiatic Under-situated in. Shanghai accessible. insurance rate agreement in Changchun,—neither there one in Mukden.—The American Asi Underwriters has not withdrawn from any rate agreement in either city because it has never been a party one, The "general competition" to which your correspondent refers has been existent in both Changchun and Mukden for many years. As for "conservative business men" and their regrets, why should any except insurance' men be interested one way or the other? Why should general competition among Inenranes, com Just whey kind of disaster is ex: pected And just what is the interest of the British Consul in Mukden? Why should he larly interested in the charged by insurance companies? And why should a warning from the British Consul be} directed to or include American insurance companies in Mukden 'The fact is, of course, that rate agreements ate entered' into in many parts of the world groups of insurance companies. Such agreements usually last just so long as they are wholesome for the public and honourably observed by the parties to the agreements. When such a rate] agreement dissolves, the first office to withdraw is likely to be tone fed up with bad faith among the members, or one which—be-joves that the agreement has] ceased to benefit the public and; the business. There have been times when the American Asiatic Underwriters have not hesitated to withdraw from rate agreements under the above circumstances, but no such occasions have arisen in Changchun or in, Mukden, and we] have never been favoured—with warnings from the British Consul concerning disasters which might follow our actions.
We are ete., Amunican Astatic UXpen-
Text read from the printed page and cleaned; old type leaves the occasional error.