Evening star. [volume] (Washington, D.C.) 1854-1972, 1859-07-14

n
WARRINGTON CORPORATION 1SsunaNcr Gov.
rASr.-EditOr ofsAsSfSs IhsSe been forc,hlv
impressed with the prophecy IF our Corporation
insunng all taxable property, real and personal.
within the Imia Of this city. a returned ,,r,,,
the books OF the Corporations by the Assessprs
ans ho ~ ,ne proposition may appear a novel
tageous to all parties interested. Set sineIe
oolecuon can De Presented against IT. while many
Iacu can be Produced IN faser Of 10 desirabIe an
SD,ees There y probably at thi. time nearly
our local and foreign insurance companies at a
premium ranging from thirty-fve cents and up
s waros upon the hundred dollars, which yields to
large dividends, leaving an ample surplus, for
extraordinary occurrences. sThose companies are
entifeiy exempt from any Of the expense Of keep
ing our nre apparatus IN repair. while large
the finds of the Cooperation for that purpose, the
benefits Of which is derived by the insurance
companies, and not the citizens. II the corpo-
paratus in order they are entitled to the BENEFITS.
The plan proposed Is, that ffsea p,y cent be
added &c the amount already req nired to be paid,
to seventy Ave cents on the hundred dollars upon
the assessed property, which It's thought will be
amply sufficient, as the premium Of issuance
and which would lie ? saving to the citizens Of
more than one hundred per cent. upon the amount
now paid by them for Insurance, and win Weld
70 the Corporation surplus sufficient to estabisb
an efnclent paid Fire Department. standing re-
ward for the detection of incendiaries. with a
large surplus over and above these expenditures
TX the Assessors returns are taken as the basis of
Insurance, an increased tax will be the result-as
the owners Of property, instead of finding fault
with the valuation placed upon their property,
would have 1t correctly valued The amount OF
property thus insured, would give the Corpora
ton great advantage over Insurance Companies
as the premium in the aggregate will amount to
a very large sum, while the losses will be small
The adoption of this policy would increase the
value Of real estate as II would ALWAYS be secure
against loss by fire. 1t would also prove a bless
ing to that class OK citizens who are unable to
pay the amount Of premium demanded by Insu-
rance Companies upon their property, being COM
pensated by the Corporation for The loss Of their
property by FIRE, at reasonable rates. paid as other
taxes are paid. ~ 1{u ~ 80 +, 7i7T.1srI
There is another very important consideration
connected with this subject, which is that ali
property destroyed by fire would be paid for to
the person owning IL, at the time such damage oc-
CURED, without reference to a transfer of policy
although the property may have changed owners
a condition exacted by insurance companies: i'm.
stances of which have occurred In tn c:ty in
wnlch the insurance upon property has not been
paid upon the ground that the property had
changed owners, and that transfer had not been
made In accordance with the terms of the policy
The advantage derived by the Introduction Of
water into our city in the SUPPRESSION of fires Ought
to decrease the premium for insurance at least
one-half. As we have no confidence that de-
crease In the rates Of insurance will ever take
place and having every confidence that the pro-
posed plan Is one OF vital importance to the in
terests OF this city, we hope soon to see move
made in the right quarter that will accomplish
'ne ooJect. PROPERTY HeLpER.