The New York herald., 1867-02-03

not fully apparent yet The exclusively fire com
pancs not regarded AS ussafe-w-th a very
few cxceptions--though the immense destructlon
OF property on land has not been without IL.
effect The damage inflicted by the Portland calamity
was staggering blow-the evils OF which were In
creased by the alarming spread OF ncendiariStn but
these institutions, though as strong A. few wears
back, are regarded as reliable. Their earnings in all
cases have mot permitted large dividends, and while
rates have been increased there has been with many OF
them prudent sconomization OF profits meet con.
tngcnceS.
r,r WASHINGTON sARiSK INSURANCE COMPANY
The Washington Marine Insurance Company. one O,
the Oldest corporations in the city. and doing business
ON she stock and mutual systems combined has suffered
70 such an extent during the past year impair
capita to the extent Of forty per cent The losses were
so great during the last twelve months ss TO swallow nm
he surplus OF 1865, amounting f62 000 the per-
ceniage Of capital above men,oued il has been one OF
the most careful institutions in its business and ts
losses are only another striking proof OF the disastrous
character OF insurance transactions of 1896 II has not
suspended operations slthough the deficiency would
Imply bankruptcy IN Measure. clause in IT, charter
permitting an assessment 10 make up the deficit
is guarantee That tho institution is fnancialv sound
The clause referred 10 permits the perem pory sale OF The
shares Of any reluctant stockholders and the result
would ne the replacement Of the IN defcit even
II the other shareholders had 10 buy in such stock No
alarm fet among insurers b. risks in this company
ana roces are issuing as usual The deficit for the
year presented in the statement publ;sbed ss An ad
vertsement is t310,5se Another statement embrscpe
the fu details cf the operations OF the year apd the
be Issued 70 the public IN the early portion OF nsrt week
rHs METROPOLITAN lssuRssos COMPANY.
The Metropolitan Insurance Company il one OF those
originally doing an exclusively nre business which, In
Judiciousy ss u proves, vent into the marine depart
ment lis losses have impaired its capital 70 ths
tent OF some iorty per cent and its managers are now
Albany seeking tho passage Of bill permitting II to
continue business on Us crcumscribed capital The
othor companies which have suffered are of course
opposed 70 such legislation injustice TO thsm
which shouln NOT be permitted. How tbs insurers
VIII segard y - also matter Tor considsrs-
ton rhs original capital ~ sl.O00,O00 repre-
ssuted certain amount OF risks and with
the reduction OF that capital to 5000 600 the proportion
pe'wesn she capital aud the total amounts assured, will
be materially altered In fact rsrenchmept OF nearly
onehalf o me on the doctrine of chances and per-
cer.Me-snoulo oe male 10 restore the equilibrium.
Ihat other cotopspies are siaky there can be but
Little douo as The immense losses OF the year must
corporations II would not be well 10 take without
question: All the staemenis advertised In tho newspapers
showing the condition u each company An analysis
of searching nature would undoubtedly lead 10 mary
curious deveopmens ss 70 the reliability OF the means
which these companies have on hand TO meet their
debts good instance Of this was Afforded IN lie
case Of the exploded Coluutap Marine insurance Com