Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1860-01-27
Grand Dedication Celebration
PEORIA MARINE Il FIRE INSURANCE c,

PEORIA MAXINE q FlKE lNSU RANCE W.
BANQUET AT TIE PEORIA HoUsR-ADDREssEs At
RoUsEs' HALL, ETC.
Tuesday was a grand gala day for the stock.
holders Of the Peoria Marine Il Fire Insurance
Company of this city, who act it apart for the
dedication Of their new insurance office, one
of the finest buildings in the country. 1t was
the intention of the company to dedicate the
building last Fall. but circumstance beyond
their control prevented, and it was delayed un
til the present time The programme of exer
cises contemplated grand banquet with
and an address at Rouses' Hall in the evening,
By Judge Wilson Of Michigan. all Of which was
satisfactorily carried out.
In the forenoon the company received their
friends at their office, where an excellent col
lation was served up.
At four o'clock in the afternoon the stockold-
ers with invited guests to the umber of about
one hundred, Sat down to splendid dinner
prepared for the n at the Peoria House.
From the 7ranscrip. we clip few interest
ing extracts. remarks of Messrs. Barrovs and
Fay of this city. and other items appropriate
to the occasion.
The first toast was as follows:
/. The Peoria Murine d Fire Insurance Co.
and its Officers: While the former always in
sures her patrons from loss, may the latter al
ways assure the stockholders OF profit
The toast was responded to by ChaIles Hol-
l. Al uN.. <~e q. Co.~
pany. We have not room for the entire re-
sponse Of Mr.. Holland, but give the principal
points. Mr. Holland said:
Ma President, GENTLEMEN I'm the Spring
Of 1856 nearly all the present board Of offic rs
and directors of this Company were called to
superintend its affairs. We were working then
with a capital of $4,000 which was increased
early that season to 100000. and operating
with extreme caution, established our business
upon this the only sure bssis for prosperity,
viz: email r. SKIS, non hazardous high rates o.
premiums, and prompt adjustment of losses.
In January. 1857, We petitioned our State
Legislature, and was granted an amendment
to our then existing charter, by which our cap
ital was increased to $500, 900, and our charter
made peri etual-ths value OF which provis-
ions can hardly be estimated. Books were
&C ibrd, exhibiting q gaining confidence in the
institution.
Being a western institution, and standing, as
1t were, alone as general insurers throughout
the west. we have had to contend against the
combined influences Of eastern companies. aid.
ed hy many Of their agents; but not only SO,
but in very many cases, especially in the early
part of the management, We have had to con-
tend against the influence Of men of business,
property >holders, western men, whose pecuni-
ary interests are all in the west. and whose
self interests can only be promoted by sustain
ing general western interests. The evils Of
this influence have been felt in in the oftre-
pested remark. accompanied at the came time,
with shrug of the shoulders 1T is not pos
sibls that western insurance company can be
as safe and - we'll managed Is an eastern CON-
pany.
We have established agencies generally
throughout the following States:
Illinois, Indiana, Wisconsin, Michigan. Iowa.
Minnesota. Kentucky, Tennessee. and also sew
eral in Alabama. Missouri, Nebraska, Kansas
and Ohio We have often been solicited to
establish agencies in the eastern cities, but
have always respectfully declined.
The amount underwrittsn by this company
during the past five years. is $27 ,434.67S ls;
0WOuut IeCSavCO ~ PtotA Vu SsssOo"s Au
cured, $S92, 1888 66. Independent Of interest
and exchange account the total receipts mp to
the present time as above. are not far from
tS7S,lsS IS. The whole amount of losses paid
during the same time is $2O2. .956 ~.
The second regular toast was - follows:
2. The travelling and local agents of THIS COM
pany. To their fsithfulness We are greatly io>
dsbted for success. May they always get good
risks and large premiums.
This toast Was responded to bv M. g. A.
Wright Of Chicago, the Agent of the Peoria
Insurance Company. in that City. After
the conclusion of Mr.. Wright's remarks,
Mr. Fay. agent Of the Company at Daven,
port. Iowa. vss then called up and spoke -
follows:
AR PREsrDExr:-We most certainly are I'M
der many obligations for the compliment paid
us BY the honorable officers Of the Peoria Ma,
rins and Fire Insurance Company, and hope
that We may In some measure merit their con.
6dsnce. AZ enc Of their local agents in the
city Of Davenport, would etats that during
the year Of 1858 and the spring Of 80, our
sity vs. infested BY gang of incsndiariss Who
at eos time seemed almost determined 10 lay