The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1823-02-18
FIRE INSURANCE.

THE President and Directors Of the MER-
4 CHANTS INSURANCE COMPANY in
Boston, inform the public, that their Capital
Stock is Three Hundred thousand Dollars, il all
paid IN, and invested according to law -t that
they continue 10 make Insurance against Fire, a.
expressed in their policies for sums not exceed.
ing thirty thousand dollars on = risk
Proposals for insurance may be made verbally.
or 10 writing No particular form Is necessary
to be observed, but the applicant should give
such description Of the premises to be insured,
and such information, as may be necessary 70
enable the Company 10 make just computa-
ton of the risk.
The circumstances that most generally affect
the risk, are the size and height Of The building
the number Of fires kept therein the materials
Of which the walls of the building are composed
the materials Of which the roof is composed
how occupied +; whether connected with other
buildings or separate what other buildings are
IN the vicinity, so near as to increase the risk,
4 what the facility with which engines ladders
and water can be obtained, il case or fire.
Some Of these facts may be best communica~
ted by plan, which may be easily sketched
from memory, by any person acquainted with
the premises, with sufficient ccuracy TO give al
idea ofthe relative size, situation and connection
Of the buildings.
Where Insurance is wanted on several build.
ings, il IS necessary 10 state how much is want
ed on each.
The Company insure any sum on a building,
property, not exceeding the fall value Of the
destructibie interest at hazard. They prefer,
however, TO insure something less than the full
value.
lnsu RANGES may be made on any kind Of prop
perty, for account ofthe owner and the policy
assigned 70 any other person, as collateral Sc
curity, with the Company's co nsent, or the loss
may be made payable to any other person, when
the policy Is made.
Contingent interests may be Insured, being
described such or property mortgaged, or
on which advances have been made, or respon-
sbiities incured.--- Furniture and household
may he insured. The premium is paid in cash,
on the receipt Of the policy.-The less is paid in
cash, il thirty days after proof
The proof required is such as shall be reason
able. acco riding to the nature and circumstan-
ces Of the case and ifthe parties cannot agree
TO what is reasonable proof ii is to be submit
ted TO reference, or determined By law, as the
person insured shall prefer.
In Fire Insurance the Company pay all losses.
however small, and they pay Che whole loss, pro-
vided it do not exceed the !. insured whetb.
er the property be fally insured or not
The expense of Insurance on the safest class Of
brick buildings in Boston, is IS cents to insure
500 for year, or $3.50 per annum to insure
1000
On the safest class Of wooden Buildings, such
as Dwelling Houses standing alone, occupied by
one family and not liable to be burned by any
other building, the premium is half per cent per
Gnnunl.
On the class Of brick buildings above mention
ell, it requires the premiums Of Four hundred
years to pay loss. oOn the class of wooden
buildings, it requires the premiums of Two hum
dred years, and this is on the supposition that
there will be no partial losses during the time;
but considerable portion Of the premiums will
be required to paw partial losses.
II appears evident therefore thstthe premiums
demanded on these risks are very moderate.
For risks OF a more hazardous nature, the pre-
mimi is increased in proportion to the augment
alton Of the hazard.
The conditions on which this Company insure,
are believed to be as favorable ana convenient
to the assured, as they can be made, consistently
with due regard TO the interests aud security Of
the Institution.
The Company continue to make Insurance on
Marine Risks az heretofore, for sums not exceed
ing Thirty Thousand dollars on a risk.
The subscriber having been appointed Agent
of the MERCHANTS INSURANCE CONPA-
NY. for the purpose Of making Insurance against
Fire for the town Of Portland, and other towns N
the vicinity vii! receive proposals for Insurance
at his Counting Room, No. 10, Long Wharf.
WILLIAM SWAN.
Portland, Feb. IS, 1928 0n1am,l