The Massachusetts spy. [volume] (Worcester [Mass.]) 1821-1823, 1821-10-31
Fire Insurance.
THE PREs1DENr and Dr.

THE PRESIDENT and D1.
IL EEcroRs Of the MERCHANTS INsU-
RANCE COMPANY hereby give notice. that
their Capital Stock is 100000. and is invest
ed IN the manner prescribed in their Act of In.
corporation: That they receive proposals and
make Insurance at their Office. in State-street.
on the corner of Exclange-stree to an amount
not exceeding S 10000 on risk, on Dacellirg-
HOUSES, Stores and other Buildings. o., Ft,rn;-
lure, Merchandise, VeSseis, Cdrgoes. and 6thsr
property exposed to loss By Fire. Buildings
mortgaged as collateral security NAV be ;Dsnr-
ed, making the loss payable to the mortgaeer
or mortgagee, as may be agreed by the parties.
Goods pledged or hypothecated; properly held
IN trust, goods consigned for sale whereou adj
vances have been made or responsibilities in
CURED; and any contingent or qualified inter.
ests IN property or buildings; may be insured
Tor the ultimate benefit Of the real party in in-
terest; making the loss payable to the owner
or others, as may be agreed Insurance NAV
be made for any term of time agreed on. No
particular form is necessary in making proposals
for insurance but when the premises are not
known at the office, it is useful to accompany
the proposal with plan Of the buildings TO be
insured, and OF such ether buildings as materi-
ally affect the risk upon it. 1t is not necessa-
ny that the plan should be graduated with
mathematical precision; such as may be drawn
from memory is generally sufficient.
Insurance may be made on specifck articles.
Or on property generally described, as Stock in
Trade, Furniture, .Machirery, Tools. &c. and
may be valued or not. In case of loss by FIRE.
the Company pay all losses, however smalI.and
| DO not make an average of the loss, as in MAJ
rine insurance, but ply the whole amount
proved 10 nave been sustained, not exceeding
me sum insured. Under this arrangement the
Company do not participate in the salvage un-
III after the whole amount of property min
sured has been saved for the owner N sne.
click kind of evidence is required TO prova
loss, but it is expected that reasonable proof
according to the nature of the case win be proo-
duced. By their policies the Company engao-
es to refer to arbitrator, when the parties cam
not agree, and when this is not satisfactory. the
claimant has his legal remedy and may attach
property, if that should be thought necessary.
The safest class of Brick Buildings in Boston.
are insured at one quarter per cent. per GpnuDt
and the safest class Of Wooden Bssizdinps
standing alone, and not liable<to be burned nv
any other, are insured at one half per cent. per
dnnnnl. Buildings occupied for hazardous
purposes or connected with other BUILDINGS So,
as to be liable to be burned by them. are
charged with proportionably higher premiums.
The policies of this Company do not contain
any list of hazardous trades or articles which
shall render the contract void; but a true rep
resentation being made, the premium is gradu-
ated according to the risk.
The premium is paid on receipt of the Poli-
cy, and The loss is payable III thirty DAYS after
proof. Both are payable in Boston money. or
its equivalent. On the safest class Of BUILDINGS.
it will be perceived, that it requires four hun
bred years premium on any given sum insured.
to pay total loss. and the changes of partial
loss may be computed at nearly half the risk
oftotal loss. This also, as well as the expense
consequent on the conducting Of the business.
together with reasonable allowances for the
hazard OF losing the capital of $500. 900. are
all to be covered by the premium. 1t ia pre.
sumed, therefore, that it would be for the IN
terest OF the owners Of property to be insured.
IT, on TAR calculation, such building would
be burned oftener than once in sir or sere,s cen
furses, especially If the relief from anxiety.
and other incidental advantages resulting from
beng insured be taken into the account
They also give notice, that thew continue
to make Insurance on Marine risks. against
the usual perils, as expressed in their policies.
on any direct or qualified interest in Ships
Cargoes, or Freights-the nature Of the inter
est to be insured being made known-for any
voyage or term of time.
Per order,
MOSES L. HALE, See'ry
Boston. Oct. IL, 1921.