The Superior times. [volume] (Superior, Wis.) 1870-1912, 1871-04-29
New York Notes.
by our own Correspondence

Most of us Gothamites were wofully disap-
pointed that the census did not give us over
million of inhabitants, and disposed at first to
think that our Uncles enumerators had missed
some figures somewhere. But we have pretty
much settled down into the belief that the folks
were not at home-that the million, like the
millionaire, has not come yet. And we see one
of the chief reasons why not We have no
adequate facilities for rapid and comfortable
transit to the upper end of the island, and so
the population of all the neighboring cities and
villages grows out of proportion to ours. The
remedy is some sort of a road on the earth, Or
above it or under it, that will transport us and
our wives and children rapidly and well. Va
rioHs are the projects. little bit of pneu
matte tunnel which proposes to blow up
town, if only the leave of the legislature
be got, has already been constructed, and is
on exhibition but as vet its builders have the
right to carry freight only. 1t is by no means
certain thu t such mole-like mode would sat
sfy the public, if the right to attempt carry
ing passengers could be obtained. There is
also the very melancholy elevated railroad in
Greenwich street and Seventh avenue. upon
which steam dummy has lately been placed,
and from which the promoters expect great
deal. But it has not begun to run yet, and it
is very doubtful whether people will extern
sively patrOniZe that way of getting high. An
other plan proposes an elevated tunnel, sup
ported on iron columns and arches the cars to
De pIOp6iiGu ny Dul we lear lUS projectors
will not be able to raise the wind necessary.
The proposal which looks most feasible, how
ever, and which Is most likely to be carried
out successfully to practical result Is that
the city shall build the much needed road.
Many people believe that to provide such nee
essary conYeniences for the of the citizens
is work pre-eminently appropriate to be done
by the city, and they point to the Croton Water
Works and Central Park as examples of the
advantages to be derived from such improve
ments so done. 1t is certain that several lib
eral charters have been granted to private
persons, many of our most solid citizens
among them, but of all nothing has resulted
while no one doubts that if the city should
undertake the thing, it would be done, and
probably well done. And sit were well, 'twere
done quickly"
Our new postoffice will be well done, no
doubt but it won't be done quickly, if the past
is any criterion for the future. The world
moves, and so does he building. 1t is shame
that this great metropolis should be compelled
to use for its postoffice thing of shreds and
patches utterly unsuitable as its present
burrow but we shall have to endure it, with
only the encouragement that the new one will
be really first-class and worthy, whenever it is
completed.
| We have lately been good deal agitated on
the question of the stability of our life insur-
ance companies. Our confidence has received
arude shock by the failure of two companies
(
liant Superintendent. In the case of the Great
! Western there is TO charge of dishonesty, but
/ the assets were not what they appeared to be,
| and could not be collected. The amount neces-
| sary to rensure the risks, or as it is called
the reserve, was not there only the shadow
/ of it remained. Thousands of persons. whose
families depend upon the solvency of life in
surance companies for protection in the event
! of the death of the breadwinner, are anxiously
asking how far this weakness extends. If two
companies fail, why may not others If the
| Great Western, which had nomnally suffi-
Gent reserve, proved not really to have it. how
! are we to be sure that any company has what
! it processes to have? This is fair question,
and entitled to fair answer. Happily there
/ Is a way in which it can be satisfactorily
answered. The system Of State deposit and
| State registration fully meets this question,
and removes all doubts Other companies may
! be. and doubtless many are, safe and sound,
| but registration company must be. Why
1 Because they deposit with the Insurance De-
/ partment at Albany, the entire sum necessary
| to meet their liabilities to their policy holders
! that is, the amount necessary to reinsure their
| risks, or the preserve" This " reserve" is
calculated by the Department according to the
/ law which was originally passed at the sugges-
| ton of Mr.. n. d. Morgan. President of the
| North America Life Insurance Co.. to whose
sagacitv and love of justice we owe the Regis
/ tration System, and the deposits to meet it can
State, and United States stocks, the former
of which must be approved by the Department.
| The law provides for the keeping of these Sc
.curities in such a manner that it is almost an
impossibility that they should ever be stolen.
and certain that the thief could make no use of
them if any one should by any possibility igno-
rantly steal them. Under this system there
can be no doubtful or bogus items in the re-
serve, and the reserve is the citadel of life in
surance. When that is safe, all is safe, when
/ that is lost, all is lost.
/ The policy holders of the North America Life
Insurance Company know not only that the
trustees who have charge of the funds which
they have devoted to the protection of their
loved ones are honest, but that they have cho-
sen to demonstrate to all the world that they
so, by putting Il out Of their po,cer to be 9th
er'cise. This final browning glory of life insur-
ance entities such a company to be called the
safest financial institution IN existence.
There can be no fears or doubts about it
probably most, if not all companies will sooner
or later be forced to initiate the North America
meanwhile all honor to the originator and pio-
neer.
There is also a curious state of things in the
fire insurance business. but have already spur
ont this letter to such a length that / must re-
serve that for another time