New-York tribune., 1871-10-17

IN THE APPOINTMENT OF RECEIVERS.
The Board of Underwriters assembled at No.
SO Broadway, yesterday TO hear Superintendent Milers
exposition of his views regarding the momentous ques
tOns Of insurance which agtating the COM
munity The following were present:
fCI c0 1s1s EsSS' H. H. e. ssFc 5cb6 h'HaGa Ga%.r
H. NJ tTeensn Market. HI. A; Oaiie{ Howard
GE1 a Fain GraI idss:% E NJ SSsS Ssssy RsnsE' RsE
rs briggs w'ms6urgh City. Mr.. cTcTeH Irving.
Mr. Fellows RutRerS Nj Forester broadway.
s Ros s,Ss SesP Mr. sRs ss%s Ens cssa
G. W. CrOWley Resident Mana Mr.. Gsrigue Germsn.
MEE coYst%n Ksx.TOi9 G9a Mr sPaTi%sn Frn,ns
Mr. Ysrsnee, Astor Nr, c. r. Whiting, Home
ME Rsnha, Fulton. Mr.. Carer, North America
O. T. Hope, Continental Mr.. Auger Commercial Union
MIR. MulRgar, HumbOhL Of London. ,.,
companies which have agencies In this country were rep
resented The meeting was called to order at noon Dy
Geo W. Savage President Of the Board OF Underwrters
who said that he had received by message from Deputy
Of Se9en With ga to making
preparation for paying the Fire Department. ana ne
S0e he BSSd pn merely to refer it the Executive
! w. Miller, who made the following remarks:
! ADDRLss OF SUPERINTENDENT MILlR,
Mr.. PRESIDENT AND GENTLEMEN: About three months
ago received your kind greetings, was about TO
take nv departure fer Europe. You can imagine the
feeling Of surprise and dsmay with which received, as
the first my return home, the sad intelligence Of
my most profound sympathy in this hour of ac-
ton 1t is matter of satisfaction to to know that
the companies OF NewYOrk going through this crisis
with the honor which l know they will.
The losses Of the New-York companies will be
a very trlnnR percentage Of the total loss In
this conAlgratio II TO that, II it entirely
proper should meet with you and inform you OF the
best methods aleviatng the distress which follows
this calamity. l symPathize from the depths OF my
heart frs with those most afflicted in that city, and
next with you, whose fortunes have been swept away
and yet you nanfully como forward and meet those
losses like gentlemen OF integrity know you
wish remove any Impressions Of doubt with regard
to my actions and you may rest assured that nothing
can do shall be LEFT un!iCne % to make your loss rs
every measure and my recommendation OF any leglsla-
gentlemen, and you will 1lnd that Will do all tor
YOU. Believe that have your interests at heart There
time as this, but men are sometimes induced
to hasty action and make mistakes Now, although
prompt payment is desirable, 1t seems to me that
IL is unnecessary to force any panic In the money
market, to take too summary measures toward the
where a company can increase ts stock, and this Of
course will promote the general interests OF commun
Ss sSare ca that IS NJ % ali
to induce an Of more capital in fire in insurance
by reason Of the wisdom which comes Of this calamity
this rancS Of the business entitled to the honor Of the
whole people, and he Is entitled TO make more than ord
sseS time as this to alleviate the sueTngs Of those
who lose by the fire. They are entitled to make more
profits because their capital at such time aeviates the
Gentlemen, perhaps it may be expected that should
refer at this time to things that may have happened
| during my absence. You will all remember that told
D S Ggg ABROAD a the tn
| Insurance Investigator" lLaughter,l l have merely
have made informal Investigations, report. to tie
contrary are without the slightest foundation. havnt
the slightest idea Of resigning my position, and have
never solicited for myself any one else the agency OF
any foreign companies l shall continue, so laI as
of my present office shall be in the city for the
weeks, and shall be at your service at all times day
VI D-e THE APPOINTMENT OF RECEIVERS.
| II II. Oakley of the Howard Insurance Company said
that at the request Of several gentlemen he would ask
the superintendent something definite in regard to
his Intentions the appointment Of receivers Of such
companies as would be obliged to suspend there was
general apprehension in the minds Of the Underwriters
that improper persons might be appointed and much loss
Thereby be inflicted upon them.
Mr.. Miler-And very happy that this subject is
alluded to thus directly. would say that it shall be
done, far have any power, in conformity with the
the law in relation relation n, to this -, matter ate.
Rs 5Con D the judge oft e Gn t41
time as this have not the slightest doubt that If you
receveE he viii be apponted when any Company Is
disposed to make full exhibit OF its affairs, in such
case shall heartily and do everything in my
power produce the appointment of such persons it
may wish.
Mr.. GEO. T. HOPE PAYS HIS RESPECTS TO THE TINES.
Mr.. Hope. President Of the Continental Company,
which we have heard from the Superintendent. The
astonishment will be all the outside and especially
with the Press 1t s very unfortunate that the insurance
companies should be dragged backward and forward
they have creating impressions in the mind Of the
public with reference to the directors and stockholders
which utterly unwarranted But the fact that such
things have been done makes 1t emneny proper that the
Superintendent should meet has this OCCASION
We all sympsthize with him, whether we bent or
broken by these attacks especially those among us who
unfortunate to be obliged to close business and
Department who ready to cooperate with the compa-
MES to the greatest extent In reinforcing their capital
psnes, full panoPhed wIl be able to resume business,
We are assured that everybody viii have the full co.
was told two or three DAY, that one Of the news.
papers of this city had published article that casts
serious reflection upon the superntendence OF the
Insurance Department in connection with the moneyS
that raised to deray the Of the last meet
Is one Of Ihs most amazing Journalistic articles tand
statement referred the raising Of sSoc @r Chair.
man connected WIN which we're yourself and other
Board Of Underwriters was Chairman Of the Committee
Thai V 1sSos W va: called 80 far
Insurance official. 1t was Convention which would be
Of vast value to the insurance oompenie. Of the United
most general attendance possible the hre companies
pO5CP Of the me-, Of that GGnVsntOH without
sSses :. distance 20 send dsIesse. to SS%
inT. Many Of the States had no funds out Of which
pay travelling expenses Of their deiegates The Life
for themselves The money was raised Voluntarily ana
Vrior the assembling Of the Convention Mr. Presi.
S ETs na SS "a. o. as
than yourself the gross wrong Of publshng such writ
Father Of Les, don't know, for it 10 wilful dsber-
| ate lie.