Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1836-01-01


and almost discoursges from further
efforts, vainly striving TO make head
against the flames, which seemed TO
mock all human skill and power.
Amidst this dreadful destruction,
we are happy to announce that the
shipping have not sustained any mate
rial injury. A vast many of them
were lying at the docks between Muir
rays wharf and Coentie's slip, and at
one time we had our fears that the
whole would have been destroyed,
The water was very low, and they
could not, for a while get away. The
brig Powhatlan was on fire, but il was
soon extinguished, and all except one
Br, brig in Coenlie'S slip, finally got
into the stream where they are now at
anchor.
In all cases Of great public or indi.
viduaI caIamities, especially those oc
casiouing loss Of property, the first
impressions. and first reports, are Of
course greatly exaggerated. And be-
fore concluding this hasiy and very
imperfect account, we take leave to
caution the public abroad against Civ.
ing credence TO first reports The ca
lamity, is indeed terrible one, au d
the loss will be immense. But still
we are warranted the belief that the
burden will principally fall in such q
manner that it will be borne without
shaking the credit of the city, or check
ing its prosperity for any considerable
length of time. We take il for gran
ted-uay, lis admitted on all hands
that the fire insurance companies are
all ruined, Some will not even be
able to pay SO cents on the dollar Of
their policies, and others, perhaps not
more than 25-while others may be
rather more fortunate.
But yet, the condition of things is
not by lar so bad as many who are on
the spot imagine: and not by any
means as deplorabIe as will be repre-
sented abroad. A number of able and
cool calculators, in consultation this
morains, have estimated the loss al
I'll. cen millions of dollars. Now the
fire insurance capital in this city-to
say nothing Of inSurances effected else
where--is about ten millions. The
calculation is, that about six bundred
stores have been consumed; the insu
rance of which does not average more
than five thousand dollars upon each
-making the sum Of three millions.
The loss, thereon, in real estate, is
not by far as great as will be at first
supposed inasmuch as the lots them
selves constitute the chief value be.
ing often worth three or four times
more than the buildings on them.
Whatever amount, therefore, the 10
surance companies may be able to pay
the holders OF real estate will be able
to sustain and bear up under the loss.
| Under this view of the case, it will!
be seen, that there will remain seven
millions of insurance capital to be di'
vided into apro rata dividend towards
covering-ihe losses on personal prop
erty. Many merchants likewise have
doubtless insured their stock of good:
in other cities; SO that on the whole
it need not be supposed that the cred
ii ofNew York will be disturbed. The
, losses most severely to be felt and de-
pIored, will be those Of widows and OF
phaus, whose properly has been in
vested 10 stocks.
We had written thus far, when a
well Informed gentleman called with
the following calculations aud esti-
mates. 1t corresponds very nearly
with our own.
The estimation OF the buildings
burned is $40. If we estimate these
at $4,000 each, il will give in rounc
numbers three millions and ball o
lollars. And if we estimate the val
ue of merchandise 10 each building at
twenty thousands dollars destroyed
it will give abou, eleven millions; ma
king 10 all about fourteen millions ant
half And though it may appear
that he estimate of the value of tht
merchandise Of each store is low, yeI
it is believed that the property saved
will reduce the amount TO this aver
age. Two thirds of this property i
is believed was insured say len mil
/ lions, And if The insurance compa
uies each had an average share, thei
capital, which amounts TO eleven mi
, lions and seven hundred and fifty
thousand dollars, would pay the whole
, lose Rnt We annrahonh that If 10 II