Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-04-20
New York Notes.
By our own Correspondent,

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New York Notes.
(By our own Correspondent>
Most of us Gothamites were wofully disap-
pointed that the census did not give us over a
million of inhabitants. and disposed at first to
think that our Uncle = 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 neghboring cities and
villages grows out of proportion 10 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
rious are the projects. little bit of pneu-
matte tunnel, which proposes to blow us up
town. if only the leave of the Legislature can
be got, has already been constructed and is on
exhibition; but as yet its builders have the
right to carry freight only. 1t is by no means
certain that such mole-like mode would sat
isfy the public, if the right to attempt carrying
passengers could be obtained. There is also
the very melancholy elevated railroad in Green
wlch street and Seventh avenue, upon which a
steam dummy has lately been placed, and
from which the promoters expect great DEAL
But ii has not begun to run yet, and 1t is very
doubtful whether people will extensively pat
ronize that way of getting high. Another plan
proposes an elevated tunnel, supported on iron
columns and arches, the cars to be propelled
by air; but we fear its projectors will not be
able to raise the wind necessary. The propo-
sal which looks most feasible however, and
which is most likely to be carried ont success
fully to practical result, is that the city shall
build the much needed road. Many peol le be-
ieve that to provide such necessary convent
ences for the use of the citizens is a work pre-
eminently appropriate 10 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 improvements so
done. 1t is certain that several liberal 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 wei, 'twere done quickly"
Our new postotfice 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 the building. it is q shame
[ that this great metropolis should be compelled
| to use for its rostoffice thing of shreds and
patches 80 utterly unsuitable as it's present
burrow but we shall have TO endure it, with
| only the encouragement that the new one will
| be really first-cass and worthy, whenever it is
completed.
o
the question Of the stability of our life insurance
companies Our confidence has received a rude
shock by the failure of two companies, which
| have lately been wound up by our vigilant Su-
perintendent. In the case of the Great Western
there is no charge of dishonesty, but the assets
not be collected. The amount necessary to re-
insure 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 insurance 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 a nolnlually sufficient reserve proved not
| really to have If, 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 deposits and State registration fully meets
| this question. and removes all doubts. Other
| companies may be, and doubtless many are, safe
and sound, but a registration company mast
| be. Why? Because they deposit with the In
surance Department at Albany, the entire sum
necessary to meet their liabilities to their pol
! icy holders that is, the amount necessary to
reinsure their risks, or the reserve" This
reserve" is calculated by the Department
according to the law which was orig inally
passed at the suggestion of Mr.. N. ID. Morgan,
President of the North American Life Insur-
+! ance Co., to whose sagacity and love Of justice
| we owe the Registration System, and the de-
| posts to meet it can only be made in bonds
| and mortgages, and State, and United States
stocks, the former of which must be approved
| by the Department. The law provides for the
| keeping Of these securities in such manner
! that it is almost an impossibihty that they
| should ever be stolen, and certain that
the thief could make no use of them IT any
! one shonld by any possibility ignorantly steal
| them. Under tins system there can DO no
| doubtful or bogus items in the reserve, and
I the reserve is the citadel of life insurance :
when that is safe, all is safe; when that Is lost,
| ali 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
are so, by putting IL ont other poarer 10 BE 9th
| ea',oiSe. This final browning glory of life in
| surance entities such a company to be called
| the safest financial institution in existence.
| There can be no fears or doubts about it I;
! probably most. if not all companies, will soon
| er or later be forced to initiate the North
America meanwhile all honor to the oriSina-
| tor and pioneer.
There is also a curious state Of things in the
| fire insurance business, but ! have ali eady
spun ont this letter to such a length that
| must reserve that for another time
| CAr1roRS1A farmers are already en-
gagged in the culture of coffee, cocoa,
opium and tea; the planting Of grapes,
tie mulberry, and the growth OF silk,
! -, ,,l o,ttJa RAISING and wheat