New-York tribune. [volume] (New-York [N.Y.]) 1841-1842, 1841-12-17

FREDERIC DE PEISTER,
ROBERTSON RODGERS,
;iUI l. MARTIN
FREDERICK $CHUCHARDT
STEPHEN CAMBREIING.
A. L. RODGERS, Pres;dent.
D. c. TAYLOR. Secretary
". Il. HARRISON, COUNSEL.
JAMES WEEP Szree.0r
Oice Of rie om2uny, No - Merchant Exchange,
% the principal story careeT Of William AMI aiI-sts
PROSPECTUS.
The Directors Of tic HouSEHoLDESs' MUrU,i lNsuS
,xeE Co>saSy IN preentirg III, Pro>Pectu, 20 he pub
IL: deem proper explain tue peculiar features OF the
i.tgai system OF Insurance, AID tue distinctive character
Of ths Compal Y, those particulars III which Il ed.rs
no, oal. from ,ni stock companies but from other mu
ua associations.
Thu. Company only based upon thr general plan
Of mutual indemnity, secured by TIE association OF
sunlher of individuals. who agree each other
harmless frcm los. by thar purpose IAeHI
no other absolutely necessary eNpeus",-b1tl II l.
peculiar tnis respect. that confines Ifse To the IN
,urlnca cling houses oH!y and OF the proert, uu
On the .uh,ct ofae general plan Of Mutual Insurance
aud the patI.on OF tsat plan WIKI insurance 10y JON
stock compa. ir,, much rsignt he S.lt
That .usur.Lca .cneralk does cost more than absolutely
ucr..,ur, cxp-n,cs evident IT, the fact that IN
bu,isa.s IS consiiefso profitable. lat stock comp"iie
certainly estb >5ed ior the benefit the stotkhoa
ef- a.L carry on - bn mes lfo" "hch tHey expect
rive prot afcr p-S ing Schv! u,ses. Na.n TINS OBJ
ect - proslied for. then the profit be gus.
( AItfoleh the Of tbs capitol studiou'ly ini
before th public fIcd .emuI ing tEc tsGFvc
fcw ans. OF all the stochhod ers have an,
doa of such a, preparation oil II Inc pront M" ~
pec,rd 20 pay for losses and tae excess, Is the ei
gam Of t enterprise aHd tho ba'is OF their hGer- d'
bends.
Now # the insured take this bushes, into Their
hands they receive uac lis excess III tn shape oil 'e
TUNED .rc.nrrEs that their Insurance IL obtained
cost aud trcy realize the advantages of borh insurer
and insured.
Thus the interests Of that r.mcrous and respec abb
class which cannot afford to Own stock IN any incorpo
rated company, which - smut out from share III 1t
rsanag md whoa pys Iiunis TO swell Tue dV
dOuds others, are fecniay represented III Tue 'u u'
system Miro Insurance heTe constitutes claim rs
ouy for mny, bur Tor share IN the profits, ana
voice Ilc pnn -gemcrt
That ths.- profit. IRE great even when promiscuou.
insurance maze the large dividends Of some 81 GU
JOIN, sto, companies bear witness Under the mntu-
yscu these profits either divided as c1ine'
or suffered accumulate form fund ~iIch 10 10
vested and represented by scrip, aad which iurnishe
additional StCur y against loss, ahd provides Inc Prt"
urs Tor i.ure insurance, b. the Iarest Rccruns IRON
IT. Investment.
But the chef and prominent peculiarly Of this Com.
pany and winch II mainly relies Tor the con"
leuce oi the pubic, r Ultimate success, is tie re-
.rctiou OF business by the quarter, go the iHsdTGHt
Of Dealing Houses, the property usually eoHfa'"s
-IIisr plan. Is DencVed has yer yrs Dse
1t is well .nosu that nearly all tho losses which fall
upor companies, are the consequence OF ih'
burnna Of yin~bc storehouses and Tue cosby efch'I
I,se toy usually The concentration OF 80 much
prrprrtI AMI che ysrItveiy Unprotected stne ~
,yh!cl stores 0rn eft The repeated islA crs
accidental turning TESTIFY IN cases too IN "nlch sbs'
tucket fcsl. might nave qusnohcd taat "hiei
no human effort cuu alj gui n, touches U.s. 'h"
ior safety ;ne loss IN the event OF IN accd Ut
dwelling constantly occupied, stand pre-e Hie"''
eierence 10 facts, ANA TO the experience Il ever
one snl p.ofe accidents II Dwellings, are not On
yrry unusual hut that whenever they DO happen Tue u
ry Is ur.It Us they are always occupied AZ lshti an
an nmtclsts alarm gives timely notice of the aangcrano
provides it, im Icdl.te eNtlnguHhment
Let the hou ehJLer then, whether he he tn own OF
merely Of his dwelling separate ms sR IRON
NOSE wh-h are much more hazardous, by The >snr-
auce of h. house Of his furniture IN such N amer
as ha fhIii pay for II Indemnity no more thah lis JUS
cquitaOie q ota oil expense
TEN of insurance. IL everal counties al thlS Sials IL
which Il mas been adopted the established charhcte
ha for ysnr5 en- l1ysd IN England End tno general 'c
c, boih lnde mny 40 protis, whch nas MARIE"
its appI anon Marine aHd Fire saFasce III our o~t
v, leave nothing wanting III anticipation O suCcess "
hi entsrrrse COM docs u general DeLeh
of Inc tiu s;em with the peculiar rest:iion oi '
sy.te II. I'VE ia described
Another characteristic f has Company WI Dc oette
understood hy tbe following extract from the charter
inch describes large class persons "Ao as Sg MS
acting So preventative charactef cannot AVA!
seye, b5h4f Of ihs priacip.s they repr'ent o' zee
pry,lc-a Of Mutual Insurance IN any o'he c0mi AM
"e3 shall ami NAV be laFfIi Tor cofP0rsons' irus
tees ruar ,ns executors, administration, receiver. o.
tbe Corrf of Chucgry nd other pGnc officers, or a:tor
news n f1t to gree with the said CofPoia Gu Tor ih'
I..ifaacs Of etztss ana property ht!d ny t"em
care ana gem nj II ike manner AUG "lth the Ae
ac. I r.s.cct to property Insured as II tney were
the olre reof and every note or othef or
ilg4iion xhi.h any such pcr"n IN u make ana give 'o
such IL urance az he charged acain'Ii ara paIo GU q
the estc he person or Hef'ons Tor noe D. >. o.
protection tue insurance effected and snail not DC col
ec-ei from lcr enforced against the party maSAs az
giving he personally pIo"'rd ila' l. A'-'l De
enated upon me obligation. that he va h-rsl
act8g as Ice ruifalrn, or ~ i fepfesS"i-''
Character, or : receiver ~ OH eF 'iofesaid
rrrr ID n a
for insurance a. rates nl.ch lower Than those cha ge5
upon snsr fss1- ese~ here ana VII ,.es'g PiVPpo
fr th. nurasce II Dselng Houses, lionsebo.4 Arni
me Plate Family 81 e. LiErare7, ficiures, >tetuiy
tabnr >n-4ls, and 9th objects AnstoA'c4i 'n
ect ons au+ all Household Property oldIa'rny kept 81
Il cling H01ses anG actually 90 Kept WHIST !Dsafel
agai s, loss @, damage By are tAet OF ncofPorauoH
SECT. J.
TIE Manner Of making tn insurance Is dsc bed IN .he
. following se-is0n Of inc Charter
a. Every uerson 10 sh.li become rlezbes Of saId
(oeor-on b. e-tlng therein, .hal bserc
he receives rs oicy cepc. his prOmi-sory r1te FOR
su-L san cf snail be determined by Tie DE-
rectors par exceeding 1--WE cent OF s1i1 not=
: sas be mmedistey paid and the romance; OF the ail
rz.si'e snail Se payable IN part, the whole, at
snv t. nen Directors shall deem thu requisite
tho payment ofioses by irs. End such Incidental eA
persa sail be cecesszry for transacttrg tEe 5hsiA
" of SAD e-pany and a. the PrfauoH OF me er
insurance the sand cote. part Of tie 'ls a
Unpaid after deiucting al ossss aud e1pe1 vo
curing during sald term. sGaI be Eeihqui'hed '-@
up maker thereof -. .. IN the
The Of tEs dspo=e notes reIel , n IN, per
c bo,e ssrt.-n Is 50 graduated, with re.P s,, 70
:, ,s - ,h.,Cu a. tb.t the fmueciste P1yttsnt re-
e CURED ssall be less than the prs g. dser-ipuors
Z. upon similar risks. Printed coPs ard every otner
= risks tasse With the premiums t Tho Cfce Of he
:. i-roru,riou tr-ired nay Be ootaned ~ vs. =, wi
= Compasy, No % he'ehA- GI34t
and Wiltaz.-strsets