New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-04-22
MEETING OF THE NATIONAL BOARD OF FIRE
UNDERWRITERS.

UNDEkN
The regular meeting of the National Board
Of Fire Underwriters held yesterday at their rooms
No 1sG Broadway After the transaction Of routine
business the Chairman OF the Executive Committee, ID.
A. Head, presented the annual report, which showed
that since the organization Of the National Board ia july
1866 local Boards have been organized large mum
Der Of these embrace whole counes and several two or
have been p't organized since the last report In
regard 10 the subject OF state legislation, IN,
report states that Illinois and Missouri have enacted
laws similar 10 those OF Newlok and other States have
modified their laws by removing some ~ their require
mcnts Govcihineht AK OF u per cent i5S p,h cor
Iectcd on s5jt9sI O! oascs pa!d during lsSo Tho aN
Il per cent on gro receipts yielded IN the year lo
all the insurance companies In the United states subject
TO such tax were' during That year ss'S,,o Iis am
from an estimate II Is assumed that the IN IN,
aha anu ntc pV'g g r rc -
Sos 100000 for the year 1903 Tho average per coniagc
of losses 20 premiums on inland aud marine risk Is much
cOrdng 10 the Massachusetts Commissioner. IL may
safely be assumed that per cent OF this 81
{5oC $50 has been eaten up by losses. and that the
balance tax has been paid equal TO 81 per cent IN oLer
OF losses paid during 1864 Tho published statistics for
the past years show that tho cost OF conducting fro
therefore the co per absorbed by losses added to
these. there viii remain OF this sum only
onc-tenth TO the companies. from which n tax
equivalent to Is per cent u thus deducted In addition
to this whenever this apparent profit becomes available
for dividends, or divided there another tax OF hye
per be paid that In c every dollar that Is
made from the business, SUCH Is subject to tax OF 20
per cent.
During the period Of l2i years the aggregate fire pre-
the companies throughout the country received
were s2l3357 500; losses paid, $i25Gi6 per centnge,
81 2600. Thus IL VIII be that tho lcadng American
Fire Companies have lost % 2GlOJ per cent Of their pre-
MUM receipts. average, for ten years.
Tho average per ccutago Of losses in England
is up 20 the figure named above. During
this time the gross premiums fire insurance have
more tripcd IL Is concluded, therefore, that
essential reduction OF rates bc entertained with
safety themselves and the insured, until Their ability
10 write shall equal the general average at least OF tho
id, Tba qftltfg ff
demnod and 10 Is stated that experience Will sustain the
that Ouetnrd az least Of the losses personal
property 10 be found on property
largely insured The privilege for Otler insurance
without notice Is stated % be permcnus, aud Is too often
irresistible temptation to fraud and arson. In refer
ncendansm, the report states that In order -
at approximate centagc OF losses which
the result Of nccndaIlsn, they issued circular TO
all tho Companies. asking estimated per centagc OF
losses from that cause. Seventy Companies have
responded, AID tho average estimate ~ % per
cent Several reports from Committees were then
submitted That on the propcy Of reducing the state
taxation companies where IL Is excessive adopted
as also was an ordinance 10 regulate the storage and sale
OF petroleum oils. which provides several precautions
against fire. Rulcs were adopted against the use OF
matches open Lights upon vessels NhaTves, or piers
where these articles stored and the report or tho
Committee Local Boards was, after some dsCusson
laid over until today, for amendment or adoption