New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-10-21
NEW YORK.

Fire Insurance Company Suspended
Chass,uoesa Railway Company-Peti.
lios Of Review In the Bankruptcy Pro.
eeediugs-Schoener Wrecked and Grew,
Saved-Comparaslve Cotton Statemenl
Receivers Of lssuraace Companies:
Total Losses Of Insurance Companies
SJ7,74O,OOO.
New YORK, October 20.-The Washing ton
F'"e Insurance Company, Of this city, has
suspended.
A petition of review from the proceedings
in the bank Lptcy court, in the matter Of
the Chattanooga Railway Company, was
argued to-day before Judge Woodruff, who
reserved bis decision until tomorrow.
Mar,ys, Gcoro ia, for MOntevidio, has been
wrecked. 1he captain and crew were
saved.
Everiug.-MoDey closed easy at Z: prime
paper II. Sterling 8aa a Sla. Govern
ernments steady; fve-twenties of 1862 ia;
Stat bonds weak; Tennessees g., new 63as !;
Virgipias IS, new e.; Louisiana skies Is,
new 81: levee skies 63, eights Is; Alabama
eights yS. fives IS; Georgia skies 80, sevens
30; North Caroliuas 81 !2, new l9ls; South
CarOlinas q, new ala.
Arrived out: Humboldt, Java and
S;'esia.
Skies of 1881 1855; five-twenties Of 1862
III; 1864 ll3ls; 1865 ll4aa; new 1925; 1867
1928; 1868 1929: ten.forties 1854.
Comparative Cotton Slatement.-Toral le-
ceipts from September l. 1871, 27O, ,567 bales;
same lime last year 3Ol .93l. Total exports
from September l. 1877, lOl. 4O6 balcs; same
time 1cst year lOl.46O. Stock in 1871 is
Isl, l4l bales at United States ports; in 1870
there were 2O0,Sl. Stock in 1871 at interior
towns is 1851 bales: same time last year
g.. .2O2.
George o. Satterlie has been appointed
receiver OF the Washington Insurance Com
pany, which suspended to-day. Losses in
Chicago 100000.
The Commercial Adreriser states that the
total losses Of insurance companies is
81 10000.
Henry f. Freeman has been appointed re
ceiver to wind up the Market Insurance
COmDanv.
john >. Cocks has been appointed receiver
of the Atlantic Insurance Company, of
Brooklyn, which suspended yesterday.
Arrived: Steamer Missouri from Havana.
Tammany made nominations for State
Senate tonight, including William NJ.
Tweed, Michael Norton, John j. Bradley
aud Henry w. Jenet.
The county convention of delegates of
the reform Democracy was held at Apollo
Hall tO-right, Samuel G. Courtney presid-
ing. Four hundred delegates were present
W. w. Curtis said at the meeting that
Tammany intended frauds at the election,
and said the only remedy was to execute
summary justice by susoending repeaters
or fraudulent inspectors from the lamp
posts, and he believed the law would pro-
tect citizens in 90 doing.
The following nominations were made:
For judge Of the Supreme Court, ex-
Judge C. Barrett: judge of common pleas
Judge Charles p. DAILY; register, General
Franz Siegel.
In the insurance convention, the report Of
the committee on permanent organization,
which was adopted, provides for a voluntary
national association of all companies of in
surauce having charge Of insurance in each
State, for the purpose of consultation and
prot >ction. President, vice president and
executive committee to he elected at the
next annual meeting, the third Wednesday
Df interest, mortality, etc., was considered.
1t provides on maine and inland naviga-
ion risks that the whole of the premiums
received on unexpired risks should be
charged as liability, and held as an insur.
ance reserve.
Fifty per cent of the premiums received
IN unexpired fire risks, having one year or
ess to run, should he charged as liability
IN reserve, provided the reserve shall not
'eived diving the year. Besides this, fire |
companies should accumulate an |
,xtra reserve fl nd. to provide for which no |
dividend greater than ten per cent per an
lum should be made upon full cash capital |
lntil after the insurance reserve is equal !
o the whole amount of premiums received !
N all unexpired fire risks The committee
'lso recommend the approval by the con-
'ention Of the American experience table of
mortality, ETC., and that forty-one and a
aif per cent per annum be designated by
aw in each State as basis for life insur-
nee. The report of the committee was
until adjournment.
1t is believed that the grand jury to-day
Indicted one of the highest city officers for
raud. No name is mentioned, and officers
4 the court refuse to give information.
The yacht club decline to entertain Ash
ury's protest against the result OF the
ecOnd race with the Columbia. The club
Insists, according to the printed regulations,
7hich leaves it optional as to the manner of
urning the stake boat. The club thank
1r. Osgood for entering his yacht for the
hlrd race, though partially disabled, rather
han allow the race to go by default.
Ira A. Paine has issued challenge to the
7Orld to shoot for ten thousand dollars
ide and the championship of America.
The steamer South America brought from
I. Thomas John G. Ledlay, cook of the !