The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-10-17
USINESS TICE s.

The GREAT SOUTHERN PIANO MANUFACToRY.
We refe. with special pleasure TO the advertise.
ment Of the great Southern plano manEfactory OF
Messrs. VIM. Knabe Co., Of Baltimore.
This factory Is now one OF the largest IN the
world; 1t is a magnificent fve.story structure,
fronting an entire block on En- aw street, and
covering, together with the lumber yards attach.
ed, some TWO and one.haN acres OF ground. tn ee
hundred and fifty men are constantly employed
turning out over forty instruments per week.
Among the thousand and one pianos offered to
the public, We scarcely know any instrument 80
fully uniting all the desirable qualities sought for
as the Knabe piano. II Is matter OF some diff
Guilty and perplexity to inexperienced persons to
select good instrument OF any capacity. We too
often rely upon the judgment Of friends In the Sc
lection OF a piano. and are thus frequently disap.
pointed. The only sure way, in our opinion, IS 10
20 to the best maker. For this reason we recon-
mend to our readers to purchase pianos Of VIM.
Knabe d Co.'S manufacture. This will relieve
them the vexatious necessity OF wasting time In
long search. The reputation Of the Knabe pianos
/, an infalllb!e guarantee OF excellence. For du'
rabiity we would specially recommend them' as
teiog m ade in Southern city, with special view
10 the trying changes Of a Southern climate.
CONTINENTAL INSURANCE COMPANY. OF NEW
YoRk.-From a circular Issued By the Continental
Insurance Company to it's agents, we CLEAN the
following ia ;ts, viz:
The loss Of this company by the Chicago fire
will reach very nearly one million two hundred
thousand dollars, which is less than the amount
of the earned surplus possessed by the company,
leaving 1t In possession Of majority OF all its
present assets, being an amount thereof equal to
the entire capital Of the company, and In addi-
ton thereto surplus largely exceeding the un-
earned premium upon all outstanding risks.
The company is enabled to sustain this loss OF
an amount more than twice as great as its capi-
tai without impairing that capital. By reason OF
the wise forethought exhibited In the adoption IN
1855 of the participation system.
The value OF that system In making insurance
cheap has been proved BY the redemption at its
par value and interest OF all issues from 1857 to
1865 inclusive, and It's more value in making the
customers Of the company more safe, is now
equally well establishet by tie results OF this
fire.
The board at its late meeting determined, fer
the purpose OF maintaining the pre.eminent posi-.
ton Of the company, and from the proprety Of
uniting 10 conservative underwriting an abun.
daut capital and for the further purpose OF
avoiding 80 far as is practicable, disturbing the
permanent investments OF the company, to in
crease its capital to one million dollars.
While the present stockholders are by law en-
title to the first right OF taking the additional
amount. it Is gratifying to know that the mem
bes OF the board, present at the meeting. agreed
not only TO take their respective proportions OF
the amount, bat applied for over $500, 900 in add
tion to their quotas.
Notwithstanding this increase OF capital, the
company adheres to It's conservative course OF In
surlng, that is, to write moderate lines upon any
single risk, and to in ure only at adequate
rates.
All companies which expect to remain solvent
will be compelled TO advance their rates OF pre-.
miums materially.
the agents Of the Continental, Messrs. W. B.
HerIot l. Co, , continue to make insurance on first.
class risks.