Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1856-08-18

a. .Ihe 4bitter Lessons tAusht 5y xpefierce are
ifre1tently neglected. So ptlneiple has been
Betser established IN Ere Insurance than the
one involved in the rule for dividing risks, for
sena}ati and keeping apart the liabilities Ofan
Office The disastrous consequences winch toll
lowed to our city companies from the conttasra
lions of 1885 and 1916 settled that question:
Indeed. now the general law of New York pro
hibits any company from holding on any one
risk, sum more than equivalent 10 one-tehul
Of its capital. The utmost care is now taken
bv New York companies TO split up and divide
their risks so that no fire however extensive In
any one district, shall bring destruction to
company With ell our improved appliances
for extinguisning fire, and for guarding against
its occurrence it is not probable that We ShuiI
ever again in New ork he subject to such
destructive tire as that of 1885, but none OF our
Southern or " estern cities or towns can pre-
tend to similar condition Of safety in this re-
spect It is the more extraordinary, therefore,
to find that q pTRctice prevails among large
number OF Southern and Western insurance
Companies, Of taking and holding risks on one
building or property up to any amount that Is
offered them, from $40 to 100000. The mer.
chants and property owners who rest satisfied
with policies in those companies. are acting
most suicidal part. Let any extensive conha.
grafton occur in their district and the viii ind
their policies of no more value than the ashes
left after the fire has passed over their property
Very few country Companies can afford to hold
more than $4,000 TO $4,000 on any one risk; none
should hold above $4,000; nay more, no Conn
pany carefully managed will hold a number OF
risks grouped close together, or in any one block
Of buildings. Where proper surveys can he had
of town or city, in which risk is offered, there
is no excuse on the part of the Company Tor
crowding up their liabilities in a dangerous
proximity. In this case division IS strength
We would impress on the merchants and proper
t. owners in our southern and western cities to
look well after this matter, and SO arrange their
business as not to leave it to the cUpidty of any
Company to retain the whole risk on a property
ty. None of our business men in New York now
will take more than $1,000 in any one policy
from any Company. Our mercantile communal
ty are well posted on this subjcct-many of them
from sad experienced
CONTRIBUTIONS break out like epidemtcS, and
no portion of the country is safe from then.-
Let our smart shreyd men OF business who make
property, build houses, and pile UP merchandise
see that the fruit of their eXcrtionS is property
secured Let them look to it in time and see
how their policies stand and who will be at the
helm when the squaIl comes. We feel called
upon to give this warning from facts gigen US on
a late trip to the South and West, where, to our
establishment, We found in one city, q local COM
pany having ut risks over million, subject to
one confiagration. Insurance should bc protec-
ton in every contingency; In; in that city, in
case of one entire bloeii burning, ii would he
utter ruin to hundreds of merchants and an ire
trievable bankruptcy to the Insurers.