The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-10-10

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Intandiuh 70 snsmounn uaSsGv& Of The cal6nn,
| tous connaeratien IN chicago On the monsy chang.
err Of Gotham, . HmALD reporter put on his most
Gradgrndian expression ef count6nAnce and boldly
wandered into tire Wall street wilderness Of walnut
| counsem and plaes oiass portittoe& Parnng
| down Broadway On MS way thltnef be
| observed thas most OF the imposing buildings
OF thas snoroaghfare from tine HERALD establish
| ment TO Trinity church were covered over with
handsome ailtletteFed signs containing the namss
| OF several insurance companies all with incon-
ceivable amounts leash capital" and each doing
amount OF thriving business for the sole benene
| or
UN0RArEFUL HUMANITY,
that made the bare superstition Of . single
'sbust up" among the lot appear monstrous and
absurd ON the very face OF it. STILL tho re-
|. porter had some lingering doubts that
all the giittering gliding was solid gold, and such
terrible news as that which mashed along tho wires
from Chicago yesterday was about che most relfar
BILE OF all tests for trying the truth OF the LEGENDS
inscribed on the signboards of insurance OMEGA
Thus cogitatlng, the HERALD angel took right
angled turn from the curbstone and entered one Of
the largest and most imposing commercial buidings
that Broadway can boast o. His attention and
presence were thus attracted By the wealthy looking
shape Of the letters over the door which formed the
words, "Hanover Insurance Company" Entering
the georgcously appointed oces the reporter asked
to see one or the principal ocers OF tue company,
ana In q few minutes q tall, handsome gentleman
STOOD forth for reportoral Inspection and announced
himself a. Mr.. J. R Lane, the chief secretary.
j. u. Lane, Of the Hanover.
"Mr. Lane, - SAID the reporter, ~ come from the
HERALD to say that the public Is all anxiety to know
Il fool ho Al
| from Chicago"
sAh, it is very sad news indeed sir" said Mr..
Lane; "a great calamity. sir"
To do him Justice the secretary did his level best to
look heartbr0ken, but the EFFORT was decided fail-
ure noting which the reporter felt justified In ak
pressing . hope that the Hanover would not be
likely to suffer any heavy losses BY this otherwise
| 'sgreat calamity" n
the cloud OF melancholy was lifted ct once nom
| the face Of Mr. Lane as he answered, 'Oh no; I
| think we are entirely untouched. We have had
little or no transactions in our way with Chicago.
| We work with three other companies, and the un-
derwriters' agency have been Withdrawing nom
Chicago for some time past.n
"Don't you think that other insurance companies
win be apt to suffer considerably just nows"
eyes. sir; II this afternoon's news be true the
suffering among many will be very severe. A good
number in this city, fear, will lose heavily, and
some, perhaps, WIN have to go up altogether. The
Western companies, Of course, will suner most in
the matter, and with most Of them l feel certain
It will
TAKE EVERYTHING THEY HAVE Gor.n
"What do you think the effect will be on mercan-
tile busiuessa"
81 believe. sir, 1t Will be harder on mercantile
interests than on the Insurance companies; much
harder.n
"What are the New York companies that you
think win be sufferers to any considerable extent
g1sWel.n said Mr. Lane. 81 should hardly like 70
sly. 'Fw0uldnst 90. you know. In fact nothing
be known for certain until we learn the full
extent OF the damage"
Having thanked the clvh secretary and received
his assurance that he viii be always most happy to
supply the HERALD with all the information he may
possess at any time the reporter proceeded 70 md
out what are
THE NEW YORK CITY COMPANIES
now doing in insurance business with Chicago,
which he ascertained to be the following: Ena
Aston Fire, American Excnange Fire, Beekman
Fire, Commerce Fire, Continental. Citizens, Excel
sior Fire. Fulton Fire, Germania Fire, Home, How.
ard, Hanover Fire, International Irving Fire, Lori
lard Fire. Lamar Fire. Market Fire. Mercantile Fire
Manhattan New Amsterdam Fire. Niagara Fire,
North American Fire, Republic Fire. Security,
Washington, and Yonkers and New YORK Fire.
Jay Cooke & Co.
Reaching the banking house OF the well know q
nrm Of Jay Cooke q Co.. corner OF Wall and Mas
san streets, the reporter entered presented the
HERALD's compliments to Mr.. jay Cooke ana
asked for few minutes conversation. which Mr..
Cooke most willingly granted.
REPoRTER-Do you think, Mr.. Cooke, that this
news from Chicago Will have any very serious efect
on the financial and commercial AFFAIRS Of this
citys W s4 esea fs@fl
Mr. CooKE-Oh, 1t must have some sir; 1t must
have some; but nothing very serious, think. do
not anticipate any great calamies Is far az we are
concerned here or as far as the business interests
| the country at large are concerned.
| RBPoRrEB-What do you think the immediate re
| suits will bes
Mr.. CooKE-Well, you see, some OF the insurance
companies will undoubtedly have 10 60 under. Many
to nav M their liabilities. Then some Of '0''0'
THE BANKS AND BEARS
VIII hold tight and make money . g tight as posi-.
wouidcto create panic; but don't think il viii
Ss market T ssR s
decline for some Tune past. This will stop that; In
REPoRTsR-How ABOUT the banks, Mr.. Cooker
Mr.. C0oKE-me banks VIII certainly feel panicky
few HSss us T S
They, 10 be sure OF being on the safe side always
prepare for panic when there Is the least disturb
| ance; but when they midas they viii find-that
there is cause for alarm they win resume their
old aspect and all Will 60 on smoothly again. Dur.
1 ing the brief season 1t lasts M8 rl 4
| THIS RIPPLE WILL TOUCH EVERYTHING.
II IL like small IRE in building; the fire itself may
not DO much HARM but the water in endeavorlnR
70 extingush 1t, Will slightly damage everything IN
| the house.
REPoarER-what do you think Of the prospects Of
| poor Chicago Mr.. COOKIES
| Mr.. COOKE-On you know, It would be strange
II the fortunes Of that city were not seriously inn
paired by this terrible disaster; but feel certain all
Ia not lost TO her. think she will do good bust.
! ness still, even In her crippled condition. Have
| you heard that many OF the elevators have been
! spared? 9t0 N hfWHe#
| RBpoRTER-It is so stated, sir.
Mr.. CooKE-well, II 50, Chicago win do q large
! grain business, even now, with the remaining eie-
vatOrs n .u mF ~
REPonrER-what about ChicaQo's chance Of
being rebults 80 IenvI