Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1871-12-09
Funnigraphs.

| A"PAAos
How to get a long well-Dig it deep.
FEE simple-Money given to a quack
doctor.
WHAT part of the rifle is like an as
sault? The breech of the piece.
DOES IA COW become landed property
when she is turned into a field?
| WHEN does man impose upon him
self? When he taxes his memory.
| MUMMIEs do not l"ok as though they
We're in hurry, yet it is certain that
at first they must have been pressed for
time.
The "Sugar- Bowl is the odd name
of a paper published in Louisiana, and
the bold publisher has just begun sec,
ond volume.
Mrs. MOORE, of Indiana, thrashed her
husband for getting drunk, and the
Louisville Ledger calls her /" the bride of
lama Moor
IT is difficult to understand why
some people concern themselves about
their lungs, when their lungs take air
of themselves.
~ VETERAN IlltICudlO says tndt, dl-
though his clerks are very talkative
during the day, they are always ready to
shut up at night.
WHAT is the difference between the
entrance to barn and loafer in II
printing office? One is barn door and
the other is darn bore.
Effect of the Chicago Fire on Insurance
Management.
Mr.. Geo. w. Miller, Superintendent
of the Insurance Department of the
State of New York, says:
Several years ago the New York COM
panies, by virtue of Il certain organiza-
ton, adhered to certain scale of rates
which were considered adequate and re-
| lnunerative. This was afterward aban-
doned, and the companies began to
compete with each other, and to write
at reduced, and in many cases made
quate, rates. This was carried on to
such an extent as to materially dimin-
ish the profits realized upon capital in
vested in fire insurance, and prevent
for considerable time any reafincrease
in the number of companies and in the
amount of capital invested. The Chi
cago fire has Withdrawn or absorbed
over $20,000000 of insurance capital
from New York alone. At the same
time it has produced an immediate adj
vance in the rates demanded by all
companies in condition to continue
business, and will undoubtedly lead to
continued and combined effort to sus-
tain the advanced rates. Unless very
extraordinary fires occur, there is every
reason to believe that these increased
rates will make the business of fire in
surance once more profitable, so as to
induce the investment in it of even
greater amount of capital than ever be.
fore. The companies will unquestiona-
bly, be managed with more care than
hitherto in many respects, and beyond
all doubt underwriters will henceforth
be more prudent in makinga Jjudicious
distribution of their risks, and limiting
them in amount on single hazards.
The Chicago disaster will also stimu-
late the organization of larger compa-
nies with larger capital, rather than
large number of companies with smaller
capital. The importance and public
policy of requiring companies to have
their capital entirely paid up in cash,
as required by the laws of New York,
rather than permitting them TO 90
business upon nominal capital, which,
although subscribed, is not fully paid
up, or which consists in whole or in
part of stockholders notes, as is the
case in some of the States, has been
forcibly demonstrated by the vastly
greater percentage of losses which will
be paid by the former companies over
that which will be paid by the latter.
There is every reason to believe that no
other New York companies than those
which have already failed, will suspend
in consequence of the recent fire, aud
in cases where there is any impairment
of capital, there is every prospect that
it will be made good before the lst of
January. On the whole | think that
the percentage Of the losses which will
be paid by the New York companies,
| the prompt measures that have been
taken toward the adjustment and liqul-
dation of claims, and the replacement
of capital, will serve as strong vindl-
cation of the presentsystem of insurance
supervision in this State, and the gen
erdl competency of the management OF
the companies.