Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-05-10

- II - - n M N NJ =.
-OP THE
CONDITION OF TIE AFFAIRS
-Ov THE
American Exchange Fire Insurance
COW PANY,
OF THE CITY or NEW YORK,
On TIE FIRST DAT OF JANUARY, 1860.
Made to the auditor Of the State Of Lossa. pursu-
ant to the InsHra,ee Laos Of that State.
NAME AND LOCATION.
l. The name Of this Company il "Auerican
Exchange Fire insurance Company
y and State Of New York, at No. l2s Broad
way, in said city.
CAPITAL.
= 3. The amount of its Capital Stock
in shares Of one hundred dollars
each, all paid up in cash, is two hun.
dred thousand dollars. 5000, 900 90
Amount Of surplus, Jan. l, 1885,. s,65l,7s
Total amount Of capital and surplus, $2O9 1851 7s
4. ASSETS.
l. Cash on hand. l,205.s5
Cash on deposit in the United
states Trust Company, Of New
York. drawing interest, .... 100000
Cash In the American Ex. Bank, 2,689,7l
2. Real estate unincun. bored, mono.
g. Bonds owned by the Company. none.
Except these secured by mortga-
ges on real estate, bonds land
Mortgages as per vouchers ac-
campaigning, being marked Alb,
being first liens on property in
the cities Of New York 4 Brook
Ign, N. Y, (mostly dwelling
houses) worth, in each case, not
less th an 50 per cent. more than
the amount loa ned and, in near
ly every case, more than double
the amount loaned, .$lo6, 10000
5. Interest accrued, but not due on
the above,... ............. 4,5ss.2l
q. Amount Of premiums due and
unpaid, .................... lIIo.ol
Z. All other property belonging TO
the Company, ............... 100000
Total ammount Of assets. .. &209, s5l.7s
LIABILITIES.
5. The amount Of liabilities dueor not
due to banks or other creditors, by
this Company, ................. none.
6. Losses adjusted and due,... none.
Z. Losses adjusted and not due. none.
S. Losses reported unadj ustcd,. $4,5oo0O
=. Losses in suspense, waiting for fur
ther proof, ............. none.
10. All other claims against the Com
pany,.. none.
II. The greatest amount insured in any one risk,
generally, $4,000.
IL. The greatest amount allowed by the rules of
the Company to be insured in any one city,
town CT village, is not fixed, being governed by
the character Of the buildings, and the facilities
for extinguishing fires.
l3. The greatest amount allowed to be insured in
any one block, is governed by the character Of
the hazard the construction of the buildings,
with q view to avoid undue concentration.
IA. The Act Ct Incorporation. The Company was
incorporated under the General Insurance Law
of the State Of New York, and obtained its
Charter on the 2sth day Of February, 1859, IN
attestcd copy Of which accompanies the state
A written Instrument under the seal of this
Company, signed by the President and Secretary,
auth King any agent to acknowledge service Of
process, for and in behalf Of the Company, rs re-
qured by statute, accompanies this statement.
STATE OF NEW York;
CITY AND County OF NEW York;
samuel Brown, President, and James NJ. Bates,
Secretary Of the American Exchange Fire lnsur-
ance Company" to me personally known, being
severally affirmed and sworn, depose and say that
the foregoing is true, full and correct statement
Of the affairs Of said Company; that the said In
surance Company is the bona hde owner Of At
least one hundred thousand dollars Of cash CAPT
tai, invested in mortgages on unincumbered real
the same is mortgagsd that the above described
investments, nor any part thereof, are made for
the benefit Of any individual exercising authority
in the management Of said Company, either as
President Secretary, Treasurer, director, other
wise; that the mortgages above described have
not been assigned nor in any manner released or
impaired by said Company and that they are the
above described officers Of said Company.
SAMUEL BROWN, President.
JAS. NJ. BATES. Secretary.
Sworn and affirmed to before me, this 2Sth day Of
March, A. ID. 1850.
isl Witness my hand and seal.
ALLEN RUTHERFORD,
Commi ssioner for the State Of Iowa, in N. York.
AUDITORS OFFICE, Iowa.
Des Moines, April 18th, 1861
TT Is HEREBY CERTIFIED, That on the 18th
i day of April, 1850, = sworn statement was filed
in this office, showing the condition Of the AxER
ICAN EXCHANGE FIRE Insurance COMPANY, loca-
ted nj New York, in the State Of New YORK, on
the first day 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
relation 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 p0sscssedof the requis
lite amount Of capital, snd invested - required
BY Law.
Authority is therefore given to the asove named
Company to transact business Of Insurance In this
State in accordance with the laws thereof until
the 3lst day Of January, A. ID. 1861.
II is also certified that EDWIN FAY, Of Dsv-
enpoet, has been duly appointed by said Com
pany their lawful Agent and Attorney for the
county Of Scott, with full power to take risks
Of Insurance therein, and 70 acknowledge service
Of process, as provided BY Law, upon his fling
with the Clerk Of the District Cosrt, in and for
said county, . certified copy Of the statemsnt on
6le in this Office. 1t is further certified that the
attached is = true and correct copy Of the said
statement.
In TESTIMONY WgEREoH, have hereunto set my
! hand and AIMED my seal Of Office, this 18th day
Of April, 1850.
[L.s.l NV. CATTELL,
sps7l Auditor OF State.
DRS. MCDONNELL 4 SCULLY,