The New York herald., 1845-07-28

comparison of prices ruling at the close OF the mar.
ket yesterday, with those current at the close OF the
previous week, shows advance in Long Island of 3
per cent; Canton 1; Norwich and Worcester, !; Penn
sylvana 5's !; stonngton IL; IT, s. Bank /; and de.
cline in Harlem of 4; Farmers Loan t; Illinois 6's,
Notwithstanding the immense amount of property des
royed do not anticipate any unfavorabe effect upon
commercial affairs or that the loss will seriously affect
any class 1t must be borne in mind that the loss does
not fall entirely upon this city but pretty equally dis
tributed Large quantities of the merchandise consum
ed owned in Boston, Philadelphia at the South, in
Europe and other places Many of the goods destroyed
consignment from all parts of the world, and
insured insured abroad. The quantity Of foreign
dry goods destroyed very small compared with the
confagration of 1885, and larger per cent Of the
perty destroyed fully covered by insurance The
fire of 1885 consumed nearly twenty million dollars
worth of property and the insurance companies did not
pay average of fifty per cent of their losses Many
houses burnt out at that me therefore lost every dollar
and became bankrupt whereas had the compa-
MES paid they will there would have been very
little lost by the commercial classes The sufferers by the
fire Of 1885 the stockholders in the fire insurance
companies and large number Of merchants; while the
sufferers by the recent FIRE will be principally the insur.
companies About eighty per cent of the property
destroyedis covered by Insurance. nearly the whole of
which will be paid. In 1885, immense amount Of
foreign manufactures destroyed which reduced
the stock in this market that very large importaions
were made Immediately after The value of foreign
manufactures imported after the fire. to supply the
place of that lost, three four times greater
than the amount destroyed, and the immense importa
tons at that time of the principal of the
overtradng that soon followed The quantity of these
manufactures destroyed by the recent fire compare
lively very small and the supply left sufficient to
all the demands from the trade There is therefore,
necessity for the importation Of additional dollars
worth to supply the demand. The property destroyed
by this fire comprises principally articles of food and
general use, such only purchased by
in quantities for immediate use and seldom used for spe
culatve purposes We of the opinion therefore that
the late fire will not derange the usual of trade
produce in any shape, speculative movement in any
staple article of consumption The buildings that
will be Immediately put up the burnt district, will
give employ to hundreds Of aborers and absorb
large amount Of the capital which has long been idle
and few months will suffice to destroy nearly all the
marks of the great fire. The actual suffering produced by
this event will meet the public eye-wll never be
knownand consequently hardly realized by the public
Hundreds have been neatly quite ruined whose losses
suferings very few will hear Of We auds the wild
and orphans who have had their all invested in
othe nsovent Insurance Companies have been made
beggars 1t will take the last farthng of many families
heretofore in the enjoyment of all the necessares and
many of the uxures of fe to pay the claims several
of the Insurance Companies have upon them. This is
the second time in less than ten years that the sockod
of Of the Fire Insurance Companies of this city
have been ruined through the reckless in which
the officers and directors have given policies and the
injudicious concentration of risks to enormous
amount in districts. Many of our Fire Insurance Com.
pancs average amount of insurance in each ward
this city, greater than their capitals
The system upon which most Of the Insurance Compa,
oths city, both Fire and Marine have been conduct.
ed is not generally known for confident that if
wast would not be suffered to exist session Of
legislature. The Insurance Companies should be re-.
gulated by legislative acments much the banks
and the extent of their operations should be limited
We statement giving the capitals, amount in.
sured, premiums and dividends Of several companies
Of this city, according to the latest official returns -:
Ivan Ca,ar C.zx AL,=..