The Portland daily press., 1872-11-12
The LOss-Actual and Comparative

From the Boston Adv9rtlser.J
The region covered by the fire was entirely
within wards five and four, including about
one-half of the territory of the former and
some two or three acres OF the latter-a space
in all very nearly the same as that occupied
by ward three. The area of the burnt dis
trict will be found, when carefully estimated,
slightly to exceed sixty-four acres, or 2,7S7,-
$40 square feet. Deducting the space cover
ed by streets, the area occupied by buildings
is little less than two millions square
feet. The structures did not cover
all the remaining space, but assuming that
they did, and that they were worth $40 per
square foot, the entire loss in buildings will
amount to twenty millions of dollars-an es-
innate to the correctness of which we have
the testimony of many sagacious holders of
real estate. The total number of buildings
consumed may be roughly stated at about
seven hundred. The loss in merchandise is
set by the most competent experts at not
over three tim the amount of loss in build
ings-it being borne in mind that on NUM-
Der of streets the structures were used
principally FIR offices and contained
nothing very valuable, and that in
many warehouses the stocks of merchandise
were low; some of the dry goods commission
houses, for example, having hardly any goods
in store. Our estimate, therefore, sets the
entire loss at eighty millions of dollars-a
prodigious destruction in itself, but by no
means one to infict crushing blow upon the
prosperity of Boston. All the old boot and
shoe manufacturing and commission firms
are solvent and even strong as before the fire,
and by their solvency will preserve to Boston,
unimpaired, their very valuable line of bust
ness. Very many of the jobbing firms also,
in the same line, came out of the fire with
large losses, it is true, but able to meet all
their" engagements, and to continue their
business. The same may be said in general
terms of the large manufacturers and dealers
in clothing; their stocks in hand are consum-
ed, but their surplus of assets in bills and ac-
counts receivable, together with what insur
ance they will be able to recover, will save
them. That there will be failures in several
ofthe leading lines of business is probable;
but in the case of many firms we believe it
will be found that after suspension of
payments until they can ascertain how much
of their insurance can be realized, they
will resume payments and go on as before.
In the magnitude of its destructiveness the
Boston confgration of 1872 is second in rank
among all the fires which have occurred in
the United States, that of Chicago of course
standing at the head of the list. By the
last-named most terrible event some seven
teen thousand buildings, covering an area
of 2124 acres, were consumed; but the differ
ence in the comparative value of the buildings
ana goods destroyed there and here may be
inferred from the fact that the total and actual
loss by the Chicago fire was $196,000,Q00-
the amount assigned to buildings being $685.
100000, and to merchandise and personal
effects $143, 100000. The destruction by our
fire, covering less than thirtieth of the
space, was therefore by value very nearly
one-half that of the great Chicago calamity.
The loss by the great fire of 1885 in New
York was varieusly estimated at from $15,-
600 900 to S20,000,00O. The memorable con-
fagration in Portland on the fourth of July,
1866, covered two hundred acres and destroy
ed property to the value of $10,O00000.