Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-04-28
= II "A IT Il M II N IT.
OF THE
CONDITION OF THE AFFAIRS
or THE
American Exchange Fire Insurance
COW ANY.


or TIE CITY or NEW YORK,
Oh THE FIRST DAY OF JANUARY, 1860,
Made 10 Tie 1ud.tor of the state of Ioca, pursue
ant 10 the Insurance Laus Of that State.
NAME AND LOCATION.
l. The name of this Company is 'American
Exchange Fire Insurance Company.
and it is located in the city OF New York, coun-
ty and State Of New York, at No. lbs Broad
way, in said city.
). The amount of its Capital Stock
in shares of one hundred dollars
each, all paid up in cash, is two hun
drcd thousand dollars. 5000, 900. 90
Amount of surplus, Jan. |, $780,. 9,65l,7e
Total amount Of capital and surplus, s2U9, 5jl.7S
4. ASSETS.
!. Cash on hand. ................. ,2o5.35
Cash on deposit in the United
States Trust Company, of New
York, drawing interest, ... 100000
Cash In the American Ex. Bank, 2,6397l
2 Real estate unincun.bered, .... none.
3 Bonds owned by the Company. none.
EXCEPT these secured by mor,ga
ges real estate, Bonds and
Mortgage as per vouchers &C
companylng, being marked ABB,
being first liens on property in
the cities of New York Brook
iyn, \. " (mostiy dwelling
houses worth, in each case, not
less than 30 per cent more than
the amount loaned and, in near
Iy every case, more tn an double
the amount loaned. $3.50, w
5. Interest accrued, but net due
the aboye,... 4,oooZl
=. Amount OF premiums due and
unpaid, ACKNOWLEDGEMENTS. lIlS.3l
{. All other property belonging to
4
the Company. .......... loooVu
Total ammount Of assets. 5000 65l S
LIABILITIES.
5. The amount 81. liabilities dueornot
due to banks other creditors, by
this Company, ......... none.
8. Losses ad justed and due, .......... none.
T. Losses adjusted and not due, none.
S. Losses reported unad busted ...... $4,000
9. Losses in suspense, waiting for fur
ther proof, none
IL. All other claims against the Com
pany, nOne
MISCELLANEOUS.
IL. The greatest amount insured in any one risk,
generally $4,000.
II. The greatest amount allowed by the rules OF
the Company to be insured in any one city,
town or village, is not fixed, being governed BY
the character Of the buildings, and the facilities
for extingushing fires.
o..
any one block, is governed by the character Of
the hazard the construction of the buildings,
with a view to avoid undue concentration.
IA. The Act Of Incorporation. The Company was
ncoT porated under the General Insurance Law
of the State of New York, and obtained its
Charte, on the 2sth day Of February, 1859, an
attested copy OF which accompanies the state
ment.
A written Instrument under the seal OF this
Company, signed by the President and Secretary,
any agent to acknow edge service OF
process for and in behalf of the Company, as re-
auired by statute, accompanies tins statement.
STATE OF NEW YORK,
Cry AND COUNTY OF NEW YORK,
Samue Brown, President, and James NJ. Bates,
Secretary Of the american Exch ange Fire Insur-
ance Company" to me personally known, Deing
severally ali rned and sworn, depose aid say that
the foregoing is a true, full and correct statement
of the affairs OF said Company that the said In
surance Company is the bona fde owner OF
least one hundred thousand dollrrs Of cash CAPT
tai, invested in mortgages on unincumbered real
estate worth q least doub C the amount for which
the same is mortgaged, that the above described
investments. nor any part thereof, are made for
the benefit Of any individual exercising authority
in the manag ement of said Company, either
Secretary, Treasurer Director, other
wise; that the mortgages above described have
not beer assigned nor in any manner released or
impaired by said Company and that they are the
officers Of said Company
SAMUEL BROWN, President
JAS. N. BATES. Secretary.
Sworn nd affirmed to before me, this 2oth day Of
March, A. ID. 1860.
fL.sl Witness my hand and seal.
ALLEN RUTHERFORD,
Comm oner for the State Of Iowa, in n. York.
AUDITORS OFFICE, Iowa.
Dea Moines. April Ifh 1861
TT Is HEREBY CERTIFIED, That on the 18th
i day of April, 1860, sworn statement was heo
in this Office sh owing the condition Of the AMER
ICAN EXCHANGE FIRE Insurance COMPANY, loca-
ted at New York, in the State of New fors, on
the first lay Of January 1860, in accordance with
the provisions Of an Act Of the General Assem-
bly, Of the State Of Iowa, entitled IAN Act In
relstion to Insurance Companies, approved Janu-
ary 28th 1857, and an Act amendatory thereto, ap-
proved February 9th, 1855; that said statement
SHOWS that said company is posscssedof the requis.
lite amount Of capital, and invested a. required
by Law.
Authority il therefore given to the above named
Comnany To tran act business Of Insurance in this
State in accordance with the laws thereof until
the 3lst day Of January, A. y. 1891.
II ia also certified that EDWIN FAR, Of Dav-
ennort has been duly appointed by said Com
rapv their lawful Agent and Attorney for the
crunty of Scott, with full power to take risks
Of Insurance therein, and to acknowledge service
Of process, as provided by law, upon his fling
with the Clerk Of the District Court, in and for
said county, a certified copy Of the statement on
file in this Office 1t is further certified that the
attached is true and correct copy Of the said
statement
In TESTIMONY WHEREOF | have hereunto set nv
hand and affixed my seal of Office, this 18th day
Of April, 1850.
[Ls.l J. W. CATTELL,
APRIL Auditor Of State.