The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1823-03-18

NHE President and Directors of the MER-
CHANTS INSURANCE COMPANY in
Boston, inform the public, that their Capital
stock IS Three Hundred Thousand Dollars, is all
paid in, and invested according to law-that
they continue TO make Insurance against Fire, as
expressed in their policies for sums not exceed 4
ing thirty thousand dollars on risk.
Proposals for insurance may be made verbally,
or IN writing. No particular form is necessary
10 De observed but the applicant should give
such description Of the premises to be insured,
and such information, as may be necessary to
enable the Company to make just compute
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 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, in case Of fire.
Some ofthese faces may be best communion
ted by plan, which may be easily skstched
from memory, by any person acquainted with
the premises, with sufficient accuracy to give an
idea Ofthe relative size, situation and connection
Of the buildings.
Where Insurance 10 wanted on several build
ings, it is necessary to state how much is want
ed on each.
The Company insure any sum on building,
or property, not exceeding the full value of the
destructible interest at hazard. They prefer,
however, 70 insure something less than the full
value.
assurances may be made on any kind Of prop
pertv, for account fthe owner, and the policy
assigned to any other person, as collateral Sc
curity, with the ComPany's consent, or the loss
may De made payable to any other person, whom
the policy is made.
Contingent interests may be Insured, being
described as such or property mortgaged, or
on which advances have been made, or respon-
sibilities incurred.--Furniture and household
Goods as we'll as buildings and Merchandise,
may he insured. The premium is paid in cash,
on the receipt Of the policy. loss is paid in
cash, in thirty days after proof.
The proof required is such as shall be reaso
able, acco rding to the nature and circumstan-
ces Of the case and ifthe parties cannot agree
as to what is reasonable proof it 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 the whole loss, pro-
vided it do not exceed the sum insured, whsth-
er the property be fully insured or not.
The expense Of Insurance on the safest elias. Of
brick buildings in Boston, is 25 cents TO insure
500 for year, or s., so per aunum 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
GnnItnl.
On the class of brick buildings above mention
ell, it requires the premiums of -Four hundred
years to pay loss. On the class Of wooden
buildings, il requires the prenium. of Two hun
dred years, and this is on the supposition that
there will be no partial losses during the time
but considerable portion Of the premiums win
be required to pay partial losses.
1t appears evident therefore that the premiums
demanded on these risks are very moderate.
For risks Of more hazardous nature, the pre-
mum is increased in proportion to the augment
alton Of the hazard.
The conditions on which this Company insure.
are believed to be favorable and convenient
to the assures as they can be made, consistently
with due regard to the interests and security or
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
ofthe MERCHANTS INSURANCE COMPA-
NY, for the purpose Of making Insurance against
Fire for the town Of Portland, and other towns in
the vicinity, will receive proposals FOR Insurance,
at his Counting Room, No. Is. Long Wharf.
WILLIAM SWAN.
Portland, Feb. 10, 1928. (3m1am.)
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