The New York herald., 1871-10-19
TROUBLES CT ASSURANCE Ca.AdPaEIES
The Lorillard, Manhattan and At
lantic Suspend.
Losses bv the Chicsso Fire the cause-Receiv-
ers Appsinsed-Rumor Of Fur
ther Trouble

yne caycumssansal delay In ascertaining the real
rx,ent OF the loss by the connagration at Chicago
has led 10 sort OF negative cheerfulness among
insurance companies. This feeling cannot be called
Sortludc since 1t grew out OF an ignorance OF the
run reality Of the ruin. But one Of It's bad results
even IN 80 short a time has been to cause
FANorED CONSCIOUSNESS OF SECURITY
among those who had not Jet heard from their
agents at The scene OF the disaster. Thus acuated,
some OF the leading companies, day or TWO after
sAe country had been 30 suddenly thrilled by the
ud,ngs OF horror from the Garden City, precpiately
posted up IN front OF their ofces and IN the adver
t.sing columns OF the papers announcements which
read something like this
'Thls company docs not lose by the Chicago nre.n
such
PREMATURE BOASTS
seem, many cases, 10 be on the eve OF refutation
IL Is rumored with startling cmpnasis-now tnat
true accounts have reached us from The heap OF
blacAness which was formerly Cnicago-that sew
erai Of the strongest insurance companies are help
ports we are IN POSSESSION OF POSITIVE knowledge Of
The suspension Of two Of the best companies,
the LoRiLLARD AND TIE MANI ATTAIN.
The feeling among insurance men, who ought to
know, If any one, is that many others must follow
il Is proper to remark here that the Lorlllard did
not announce with The other companies that 1t had
met with no loss. II was known and acknowledged
on the first receipt Of the dismal news that her loss
would be extremely neavy, and she very wisely alb
stained from business untll iuller accoants were
received. On Monday, definite information having
been received from the company's agents in chic
ago, meeting OF the directors determined that it
was impossible to proceed with affairs, and there
fore resolved TO suspend Immediately On the fol-
lowing day, application having been made by the
the edr M Hsss flss
dent Of the company, receiver. Tne business viii
THE Loss by THE CHICAGO FIRE
10 something over ,30o 600, all OF which VIII be
Iully paid All the policies wiil be cancelled TO day,
return VIII be made TO the stockholders; but what
the per cent viii be Is not yet known After this Is
wiped out ~ Is proposed to start new company
nnder the same name, with q new capital and
The Lorillard Insurance Company is one OF the
Oldest IN the United States. II was lounded in
TaE TWENTY YEARS OF IT'S EXISTENCE
mas been very successful Insuring in almost every
town OF importance IN the land. Its original capital
al the present til lime Il sss Is 81 The assss
are $15o 600; the full liabilities are as yet unknown
above all liabilities. Tue principal Officers Of the
company are Carlisle Norwood, President; Zophar
Mills Wee President; John 9. hills, Secretary.
Difficulties of the Manhattan Company.
upon the application Of Alexander NJ. g. Smith,
r. Be1nsel and Andrew 7. Smith, stockholders Of
The Manhattan Fire Insurance Company VINO assert
she company is insovent, Justice Gilbert OF Brook
Nn, yesterday appointed Mr. Cnauncey Bedell as
receiver. Mr. Bedeli gave bonds IN The sum OF
$iOl,000
Suspension of the Atlantic Company.
twas stased that the Atlantic Insurance Com
pany, OF BROOKLYN, had lost heavily through the
Chicago fire that they also insolvent. Bust
ness waS suspended yesterday morning in conse
quence OF the losses by the Chicago fire, which
ead ~ It's onicers to have proved far greater than
~ first supposed. The liabilities as nearly as can
now be estimated, aggregate about 500, 900. The
assets OF the company are about $575,0GO. The
directors profess to feel confident that the company
n IA ca