, 1872-11-13
INSURANCE AND BUSINESS GENERALLY.

police.
sURANcE AND BUSINESS GENERALLY.
Special Dcspatc. to The Chicago Tribune.
9osToE. Nov l2.-The effects Of the fire upon
Bottom business may be to obliterate the hither-
to dow but well-known steady removal OF the
lare iobbine houses to New York. Much Of
this ,as been done in the past ten years, and
only :easonB of local patriotism will detaln the
very 'argest firms Of the kind in Boston, for
every arge house here may be said to have an
agencyin New York. There is no talk at present
Of thisznd of change OF base, but visitors and
others here freely allude to it,
The vol stock destroyed in Boston, the
Adrertise: estimates at $4,5oo,0oo. Of
the jobling house, only one escaped,
capped, andthe dry goods interest is that which
is most threatened with paralysis. The boot
and shoe AMI leather stock was not lnordlnatoly
large, and MT above one-half the amount OF
stock at the lime Of the market season, but this
interest has experienced set back, which is
already the stbject of such radical propositions
as for the cityto issue 800, 100000 of bonds aud
to build q t'nporary market-house Tor the
leather people II the water lands in the rear OF
the city. The hst great CRY is for warerooms,
and the merchants look coyetously upon the
walls Of the new Post Office building, and desire
to fill it with merchandise.
Of the banking capital Of Boston, John J. Knox
Comptroller of the Currency, with whom I came
On from Washington says that only the surplus
at most is lost, and fe does not believe that the
loss Will be above one-half this surplus, or
35,0oo,oo The National banking capital Of
Boston vas s45, oo,oo, and the surplus was
Sae etes fire, ehsbs hsa only # shs 5s Of Of
National bank capital, but had $23, ,ooo,-
600 in loans and discounts. In short,
Boston WAS an enormous faction. OF what is
called the National Bank Ring, and it is as full
OF National Banks, of which seven we're burned
Lost p9or E1n1rrnrt
non, Hide and Leather, F:eeman's National,
Revere, Everett. and North American. The
President Of one Of these banks to-
day told Mr. Knox that he would not
Pay $1,000 to be insured ~ ;ae..9os tor
of the reliability of his customers. that one man
came to him Monday, and said. II have lost my
building and $4,000 worth Of stick in it, but /
want no favor, and am $500, GOO ahead on the
new" "Can you pay in Deposits" asked the Presl-
dent. ayes, in deposits said the merchant
The President of the Mount Vernon
bank came into town on Sunday, opened its safe,
and took out his personal papers. He then
locked the safe, and the fire consumedthe build
ing, but on opening the safe yesterday every
thing Was found perfect.
The insurance companies OF Boston are gen.
orally cleaned out The President Of the Elliott
Insurance Company says that his losses are
million and a half, and his capital and surplus
seven hundred and fifty thousand dollars. The
reorganize. and every stockholder yet seen re-
news his subscription to the new incorporation.
OF pluck and good nature here, there are
plenty.
Special Despatch to The Chicago 1Tbtsne-
| BosToS Nov. 12.-The news from abroad has
strengthened the confidence Of the people, who
already nearly feel secure in their home lncor-
against the wild schemes OF Legislative relief.
The Boston Herald, which is the least known
outside, the widest circulated, and the
least sophomore, and really the best Of the
Boston newspapers, comes out stimy this (Tues-
day) afternoon against any expansion of the
currency, any sort Of monetary relief from the
Treasury, and any issue OF city bonds to aid in
rebuilding and it also thinks that the Boston
Common should not have been granted to the
business people for temporary edltces, but that
Back Bay lands. The Herald points to the fact
that the whole destruction is only equal to one
wears increase Of Bostons wealth, which
| amounted at the last assessment to above sew
enty millions. In twelve months, an e1pan:
fen 1e.se Of h ss pea 81 It sbow TGn
the cost Of rebuilding. while for the city to issue
twenty millions Of relief bonds would be to aal
merely for three millions month, which is ne
more than private capitalists will supply by thu
ordinary business Inducements. This kind o1
| advice shows that the business men have te
be ever on thelookout for the politicians, who use
general ce1amities to intrude their rapaciouB ano
| artificial prospects of protection upon society
All through this crisis in Boston, the example o1
Chicago is steadily referred to. tits daily said b.
the oldest headed merchants here, that 4 Chicago g
had twice the loss Of Boston, with thirds lest
wealth, and yet the rate Of money lent upon rea
| estate mortgages is now less in Chicago thar
| before. Nevertheless, the two fires, taken to
| gether, will probably discourage inord
| nate speculation on city real estate tt
4F, ,ofr 1crr T1f
will also teach the Savings Banks Of New Eng
t land the lesson that it is not always more Sc
cure to lend money on city buildings at cheaI
rates. than on farms at better rates. ..
| Companies foreign to Massachusetts, Tert
permitted to insure buildings in Boston, ant
their aggregate capital ia above 800. 100000 Sew
eral Of The home insurance companies IN Bos
:! ton, as the Shoe d Leather, Trenon and Howard
will pay only twonty-tye cents OF
the dollar. Others, like the Washington ant
will be 60 cents on the dollar. The Insurance
! Companies want to preserve their charters. Th
Chairman of the Board OF Assessors appears to
day with an estimate Of the total loss which h
puts down at s85, 600, 600, counting the loss .
al buildings little above S15, ooo, GOO, and to
personal property 4O,0o0,000, which he admit
to be an over estimate. He then adds S12,0 ,000, 90
for consignments, which is conjecture; $4,000,
600 as the assumed value of the effects of non
residents, and $40 ooo,0 600 for supposed e1ces q e
sAN
above loss falls on property in Ward 5, Of Bos
ton, and besides there are four millions and
| half in Ward L. This computation does no
allow for buildings yet standing j
Ward (which are all computed p
| the Assessor as lost. Seventy-fT
millions will be liberal estimate Tor the entlr
damage wrought by the fire.
To-day 900 men have been at work openln
the streets, as they have before all through tn
burnt district, and Washington, Broad Summer
Federal, Lincoln, Kingston, Oliver, and Milk ar
nearly entirely opened.
Several Of the banks resolved to-day to loa
money at once and help business out The TIC
are The lucky dogs Of this life. 4. L. stewar
of New York, came out Of th
Ere with small loss Of $500, ,0ot
And now. Jordan. Marsh d. Co., although IT
peatedly reported as burnt out, stand on en
With whofe million OF goods removed to
neieEbcring clubhouse, and Jewish synt
eoeue, and their store unbuEnt. They coEsle
erately gave $40, 900 to the firemen who te.pe
them over the Goals.
Sptc:al Despatch to The Chicago 7ri1,at
NEW Yoaz, Nov ia composed view OF tn
probable results Of the Boston conf1agratlon hE
been taken here to-day, and nearly al! signs
| imnendinp manic hare 1isappeared. The mo-