The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1859-11-03

LOOK OUT FOR THE CARS WHEN THE BELL RINGs-
There is general impression that the insurance
stocks of this city will soon undergo serious de-
probation. We hear of all kinds of "whitewasb-
ing" going on among them. Companies multiply
like the sands of the sea- Nineteen have been or
ganized within two years. Some of them are
differed by men and boys, whose ignorance would
surprise even countryman. The wish, with
which Tristram Shandy opens his autobiography,
will yet be painfully natural to not few Of these
gents: 81 wish that my father or mother-or in
deed, both OF them, as they were in duty both
equally bound to it, had minded what they were
about when they begot me-" The necessity of
doing, or appearing to do some business, compels
them to write on any kind of risks, at any rate
offered. few years of prosperity, instead of in
duclng general providence against those periodical
disasters which only less certain than the tides
have led several old organizations into ridicu
lous extravaganza.
A correspondent in the Times, who, we suspect
has little investment somewhere, writes signifi-
cant "item" on this subject:
The constant increase of these companies, think
will ere long prove serious evil. Where the
profits are to be derived from, appears to me to be
a mystery. | know Of one company and that one
OF the Oldest institutions whose premiums are not
equal to what they were ten years ago, and whose
expenses in salaries, rent, &C., have increased
double, or about equal to seven per cent. on their
capital and at the rates at which they are taking
risks, their liabilities must be largely increased
The past one or two years have been of unexampled
prosperity, and should large fire take place. what
condition would some Of our companies be in to
meet these losses? This would have to be done by
converting their bonds and mortgages into cash
some of which, perhaps would be difficult to nego-
tiate, particularly if on unproductive lots. We
read of railroad salaries of $4,000 per annum on
concern of S3S 900 O00 but what is that even COM
pared with insurance company worth a capital
of $500 900 only, and Presidents salary of 81 900
Secretary $4,000, rent $4,000, clerks, surveyors
DC, about So, 900, and you have an aggregate OF
about Sl4 900 expenses, about seven per cent,
q ms hnt tba hold
insurers get one cent. But we may say that the
companies, after all these expenses are paving ff
teen or twenty per cent. dividends. And so were
some of our railroads until competition reduced
them to paying no dividends but the pay of the
officers still went on. And so long as we have no
fires, company with fictitious capital is lust as
safe and good as the best. My advice is, look well
to the securities of the company in which YOU in
sure, and inquire how much they leave for reinsur-
ance after paying a dividend; and see that the
pany has not been got up for the benefit ola Pres-
Gent and Secretary, or one or two sons who can
lind no other employment |, for one do not be-
leve that the business of our city is increasing in
proportion to the insurance companies, when the
old companies are not writing for as much as they
were some years ago.-N. Y. Insurance Monitor.
HABITS OF THE HoLLANDERs.-In one of Mr. Hill
lard's letters to the Boston Courier from Europe
the following passage illustrative of Dutch habits
occurs:
1t was dark when reached Rotterdam and |
went directly from the boat to the station of the
railroad for the Hague which | proposed to make
my first resting place in Holland. Unadvisedly
l took second class ticket. The carriage was
comfortable enough, held ten persons, and was
filled before started but so soon as we were
of, every one but myself whipped out a cigar or
pipe and began to smoke, as men ought to seek
righteousness l was seated next to one of the
windows, and was thus able to keep it open; but
the opposite one was instantly closed, in obedi-
ence to that horror of fresh air. which seems to be
one of the universal decisions of humanity; and
before we reached the Hague-not much more than
an hour-it seemed to me that the smoke had be-
come solid and palpabe substance which might
have been cut and taken out in blocks and Slices
and here let me say that until you come to Holland
you never can know how much humanity can ac-
complish in the way of smoking. 1t is hardly too
much to say that every man, every youth, and
nearly every boy smokes all the time he is awake,
at least. The acts of living and of smoking seem
synonymous. As soon as Dutchman BEGINS to live
he begins to smoke, and as he ceases to
smoke he ceases to live. The smoking of tobacco
and the drinking of gin may perhaps be regarded
as sanitary precautions against wet climate and
sodden soil; if so, the Dutch are to be commended
for the good care they take of their health.
A YANKEE Consul AIDING DEsporrsm Florence.
Oct. 1.-THE provisional government of Tuscany
has, if am Tightfuy informed, found it necessary
to withdraw the ereqnatur Of the United States Con
sui at Leghorn, Mr.. Joseph Binda in consequence
of the part which he has been playing in the reac-
tionary farce of MN Poniatowsky and Reject. 1t
may seem rather surprisinp that the Cnnsnl of the
United States should busy himself as a partisan of
the dethroned Princes of Lorraine; but the crcum-
stance is explained by the peculiar antecedents of
Mr.. Joseph Binda. He held some appointment in
the kingdom of Etruria | believe, at the Court of
Ellie Baciocch and has ever since been regarded
as one of those parsans of the Bonapartist dvnas-
ty who kept hoping against hope for the resurrec-
ton of Napoeonic empire His marriage with
an American lady belonging to one ofthe great his
m lfnS uh aatir fl,p. nfI
pendence, enabled him to obtain, through this do
nestle connection the post Of United States Con
sui at Leghorn, the duties of which he has dis
charged during many years. He appears, howev-
er, to have combined with his consulrr functions
others very closely, though not publicly connected
with the furtherance of French policy in the PENN
sula. and more especially with the Jealous advoca-
cy of whatever views might be at any moment most
in favor with the present Foreign Minister of
France.
Mr.. Binda is directly taxed with having counsel
led certain notorious adherents of the Republican
party to proclaim republican form of government;
and as this advice given contemporaneously
with his efforts in behalf of restored dynasty, lit
tie doubt be entertained that it was only
given with a view to afford pretext for an armed
intervention in the event of its being followed
Such are the rea assigned for the strong mea-
sures taken by the Tuscan Ministry respecting the
United States Consul.-London AorHing Post, Octo
Der is.
NAVAL INTELLIGENCE.-We yesterday witnessed
new apparatus which has been successfully applied
to the machinery of the United States steam-frigate
Niagara, whose mechanical arrangements have
been somewhat altered and improved since her re-
turn from the Atlantic and "African philanthropic
expeditions. 1t consists of new cylinder which
has been attached to the reversing gear, enabling
the engineers to start stop the engines by steam
instead of the old method by hand. This innovation
is of considerable Importance, and promises to be
extensively copied
Mr. Ring is also about making sort Of reyou-
ton in the machine-sh0ps ofthe navy yard. There
have been for number of years eleven boilers
making steam for nine engines, and evaporating on
an average only about four or five pounds of water
to pound of coal. These are to be altogether re-
moved, and replaced by an entirely new set which
are about to be constructed in the yard. They will
be place in one fire proof boiler-hOuse, with steam
pipes leading to the different engines, and to those
buildings needing heat, thus saving annually from
700 to 500 tons of COAL and being secured against
the risk of fire.
In consequence of the majority of the vessels
preparing for sea having been nearly completed a
large number of hands-over 1S0-were discharged
from the Brook yn yard on Saturday evening.
The Duval COurt-M artial having adjourned sine
die, Lieut.. d. has joined his vessel, the Wyandotte
to await the Department. decision.
Letters from the Lancaster at Rio record the sue
cessfu working of that vessels machinery since the
repairs last effected at Philadelphia. She was 40
days in making the trip to Rio from the States