The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1871-05-27
TIE INSURANCE. COW5EES55,
THE THIRD DAYS PROCEEDINGS,
Suggestions from the Chamber Of Commerce., the
National Board Of Fra Underwriters
and 0 hers-AdGress by Elizur
Wright, Of Massachusetts,.

National Board o. Fra UnderWrltors
and hers-AdGress by Elizur
Wright, Of Massachusetts,.
The congress Of State insurance Delegates to con.
slider Insurance interests met again at the rooms OF
the Fire Underwriters Nos. I56 and 1853 Broadway,
1t eleven o'clock yesterday morning, President MIL
Ter In the chair.
A. A. Low, chairman Of the committee appointed
BY the Chamber OF Commerce, appeared before tho
congress and presented the following
The undersigned having delegated the Chamber Of
Commerce inc State OF New York TO before the
E.ne.teu that this mssns been Inflated ~
State The cities New York and rooky become
he oss. and sa ss1'e
aSw a aa besro sssnsHny
mschanic and skin Of the osnuiastursr ali Contributing
:: we'll sf
owa % The ri. CITY
S sy e % OF s
:o % all who are Interested therein aga,ns oss y irs
g. r ss as
Ss With 0 Il.
st q Sy ,s
IN he ABILITY and nesr 'Ssg. oe. a ana
nc 70 those .s'
ss q oss: s' % sy Aa az. % %
s IN Ss Dss tie 5s n g ns
New ys,s: acting Tic q sis
sh.ald NICE, IN shs netTcpos country
Il OH 30 @ re-
nsn Of any State may no. be nature to provoke re-
Of It. ys: % M .s q g ass
ss T. ~ % Ey Xos en-
%
s issa &C.! ss
So as. into Which
their respective agencies have extended The merchants
sonsan her own security and & q ais
q h u wS are g o conn conn
mtted their care the character Of tho directors APP
5srksd. ana the results attending nom year
undersigned believe that the part of every well
appointed and Wisely administered insurance company IN
sd ad 70 1s END tie Of con-
puSoaas Of oo aai .asnas tie assets M
s And s wgs TO-
dp0 Of Gs PORTION % he capital Of any b fss 4s
. l sssnsy sosasy ssa,sd Ssss
81 assets held IBIS County whs sd1ossas ia
security to nd the Moud no
fs TO npr.ss the susn as VIII IRE
fraud sna arse on tue Part o. their FOR Il the
writer viii protect himself against Inc eyidoer BY oharae
@ a fy ea 5 aa ad ss sH
y S cs Cher N +. a. L 81 of I saar
permit Us " na a. rsssS time .y foSad
within Ihe walls o. single Oaians an .%oSn. Of P,sR:
s o,mpss. one or more IN our own and
ss on s ss ns Sc 'a ass ss
w11 as e IRE. OF % % s sr ok
e s sos TEX Ssys e. 81, 1s ~ S
Maine, lost y hrs, years fully sio0o0oO
ns s SSs ans . eAs, a
cuiay are aoyvn TO have been the entire Of
ss ws q espis ss'
elomens Il, safe % say that e ~ our az Ere
lore either Of cities rfsrsd % the Destruction would
=. md & S.n Ia
nessSoshs city, % howsy.r that We arc
Brigade By sho ons:casy engines 81 shs
length and Ses q
sris While furnaces aud sisshs multiply The dangers hat
ss % aey ss
Of the imro.auce Of Knowing that our Insurance.
AHA .esu sas ssv q
the possibility and ., the ,s so. :. Ct
s
st.. 5. % s M
@ = 1s:s S n ss BY
sompssent oGcer whose duty shall examine assets
. ss s
security sSa pa Sos g. e
' dc 90 out e. %
q ss:y, ~, ssn:
origin would Of portion Of Ne funds IN
Be- transacted but Il Is difficult discern how such 70.
IN cases Soa snd 70. ng the 'e
IL sunlcien,ly pain that II depcsit y 70 30 made II
such aspos. % s. Any prass. value correspond
With The greater or lesser maengds Of the basnscs TRIMS
such deposit state Is equally needed IN
snsssr 81. is
.s. Il n s:.s L. sSs -: he
ruptcy Of e company be the unoward and unnecessary
ses
as IN pairing 10 sas
State al every policy IN his own had expired or been can
8,
snoe company In view =, ,hs, &c snngs wosa see~ *
ds.sers ss 1aherio have repeatedly Ssiallsa Sal
Gsiq.iSn' o. ana tho 'se co%SsSg
se ~ our s and
Many Of these without needfui capital protect
require. svdon. such deposits must al
se s5%r w
In protecting BY this its citizens until the compa
a"aa en-
nsS p. BE-
policies States hodiag aeross mus. expire or be
for usc In another State, and that d long
time would elapse before tie state auhoriteA would be
satisfied of the termination Of the outstanding claims
Meanwhile tho sufcrer BY some great connagatcn hold
policies In companies whose had been
similarly diverted from their proper would find little
ISOLATION IL knowing that perfectly solvent institutions owed
him which would they had control of heif
resources, hut, wanting this, could poI
The path OF security TO be IN the very opposite
direction In prohibiting the transaction of business BY
company Saio where the funds OF such
looked Ia other States, where portion Of ~
assets 30 looked exceeding twenty per cent Of s net
possessions the especially all the assets OF
pny within the reach Of the courts 10 the event Of
loss
The paper Of Mr.. Low mado o few other sugges.
lions OF general character that have already boon
referred TO by other interests.
motion was made to admit IA honorary mem.
beers Mr.. Barnes, ex-Coamissioner and Mr.. ElZur
Wright tho veteran aciuary OF Boston, when
Mr. NOVEL, Of lionneciicui- declarad that fhia