Underwriters' Exchange
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Underwriters' Exchange Soundex Code U536
The career of the Chicago Board of Underwriters continued on, undisturbed,, until 1880, when, because of violent internal dissensions, a number of members withdrew.
On Tuesday, January 27, the dissenters started a rival organization, to which they gave the name of the Underwriters' Exchange.
The first officers were:
Robert J. Smith, president;
William L. Rollo, vice-president;
R.N. Trimingham, secretary.
The two underwriting companies continued their labors on parallel lines for five years, sometimes in harmony, but more often in hostility, until in 1885 when, after repeated efforts, a union of forces was elected.