that they intended to be scrupulously careful in keeping their promises,
backing their words with their deeds and dollars. This statement brought
from the dollar-for-dollar companies a gratifying amount of applause and
the "six-bit-ers" sank into silence.

As the days passed and the "tumult and shouting" died, it gave a certain
amount of satisfaction to find that amongst the jeerers and sneerers at
the memorable Reed's Hall meeting, those who had battled most vigorously
for the horizontal cut of twenty-five cents were those who afterward
developed into the worst welshers and shavers in the entire history of
the loss settlements of the San Francisco or any other conflagration.
The "sparkling" Rhine, the "still" Moselle, the far-famed "Dutchess,"
the German of Freeport, the Traders of Chicago, the Austrian Phoenix,
the Calumet, the American of Boston and others soon after sought the
seclusion which a receiver or cessation of business in California
grants, and like the Arab, they folded their tents and silently stole
away.

At the termination of the meeting, President Chase of the Hartford,
President Damon of the Springfield, Chairman Spencer and several others,
all leaders in dollar-for-dollar ranks, some of whom are alive and some
of whom are gone, gathered around and congratulated the California upon
its attitude. Individually, it gave me a feeling of pride and
satisfaction to be the representative of a company which manfully stood
up to the rack with the best traditions of American fire insurance. It
may be well to recall to mind as a historical fact that it was at this
meeting the term "dollar-for-dollar" companies was born.