The Union and journal. [volume] (Biddeford, Me.) 1858-1882, 1861-01-04
"Piscataqua Fire and Marine Insurance
COMPANY

Company"
| We had occasion some monthssin to call
attention to the organization Of this company.
and at the time expressed the opinion Il was
destined to take the lead Of the insurance busi-
ness In this state, and from the published state
ment of the company. the first semi-annual re
port, which appears in another column n this
Journal, 1t will be seen that our prediction has
very nearly been verified.
We have noticed that much opposition has
been brought to bear on this corporation from
rs first inception coming principally from
the agents Of foreign companies, and their
journals published In New York, the object OF
which is TO kill of this Maine Company, and
monopolire this lucrative business rs they have
50 long done. However. this practice. mean
and despicable rs Is to the minds Of all honora-
bic men. has had but little success against this
solid Maine Company. Our citizens had in
vested too largely In II to be brow beaten in q
fair field, and its officers knowing their own
business and believing the merits Of the COM
pany would speak for itself, have by pursuing
q straight forward and honorable course already
run the company intoa paying business. I,
appears from the statement, that upwards OF
one million dollars property has been insured
In the short space Of seven months, the prcmi-
um thereon amounting to nearly twenty six
thousand dollars; and we are infoI med that
this amount is but a small portion of the prop.
ertv offered, the directors having declined risk,
of too hazardous nature, the company gener.
ally combining themselves to first class proper.
ty.
The business Of the Office has been gradually
increasing. Commencing In Juno with som'
two thousand. and ending in November with
nearly Ave thousand dollars premium. Ayerag
ing its business for the time to come ct the
latter sum II will favorably compare with the
majority ofthe sterling companies In New Eng
land. and cannot we think, fail to pay good
dividends to'its stockholders. We do not doubt
It's business will steadily insreisc, until 1t can
be counted by hundreds Of thousands
The authorized capitol is $500, 900 subscribed,
and secured S256. OOO-with assets now amount
ing to s274, 900. We understand the directors
will add to the capital, from time to time, as
the business demands, and q subscription OF
srOo, 900, to be secured by Bank Stocks will be
opened in January.
To the public Of Maine, the officers and di.
rectors ore too we'll known TO need notice at
our hands but to our more distant readers
It may prove Of benefit, and no injury
to the company to say that the aboard" is
comprised Of gentlemen Of high standing,
ample means and reliable.
David Fairbanks, Esq, unites to his Office
some thirty years experience in Marine Insur-
ance; was formerly President ofthe "Atlantie
& Union Marine Co >" in Mass. Friend William
Hill, Treasurer. is gentleman Of rare financial
abilities, President of"No. Berwick Bank"
Cocheco II. II. Co." "York County Insurance
Co." and director In numerous corporations
throughout New England, and is one Of the
wealthy men OF Maine.
Mr.. Kicker, Secretary, and also the Secretary
ofthe largest mutual company In the State,
unites to II perfect knowledge Of his business,
untiring energy, experience, and that adspta-
ton to underwriting, without which no office
may hope for success.
In such able hands, the company has to make
little effort to secure all the business il can
carry, and the public may rest assured, that
we now have in Maine, q Home InstifutioR,
that offers that indemnity against the evils ot
Ocean and Fire so long desired.