, 1872-11-23

roved by the sale of bonds, and in the other the
total annual interest liabilities:
Bonds sold Annuaz
1855. .......s $50 100000 s., ,5oo, 900
1s6e. !! 1920 a,!a9,oo0
1851. = 39o 0oo ,,oo 6,aS3, Sg0
lsu6. 5eNN.0o5 o,5ou,V0O
1s69 ...-..-......---... 3oooo,oeo I2,oGutoou
oo,ooo
4etl 15oue,ouo -1,oousooo
The foregoing estimates would show that for
seven years there has been constant1y y-increas-
ing margin of capital coming from Europe over
and above the annual interest liabilities. But
now let us suppose that, in consequence OF the
reyulsion which has taken place in the European
markets against American railroad securities
during the last six months, the amount Of such
securities marketed there in 1872 should only
reach s3o,0o0,o 600 The interest liabilities
would then stand at, say, go, 200
Psf the totsl amount or R'a y nsr bonds nda
marketed during the year. It is not at all i'm
probable that though We may still be marketing
as many railroad bonds in Europe as we we're
four years ago, the influx Of capital has, in
great measure, ceased, being balanced BY the
increasing interest liabilities. II the same line
of argument be applied to the marketing in
Europe Of Government, State, and city bonds,
it would show that there had been much larger
falling of in the influx Of foreign capital during
the last year. and that, in fact, the influx Of for
eign capital for all of these securities had
ceased ~
TIE REORGANIZATION 0F INSURANCE.
The disastrous effects OF the last two years
IN the insurance business of Hartford, New
Haven and other New England cities, is leading
them to consider the propriety of abandoning
their specially in it. 4 petition is being circu-
lated in Boston to the following effect, viz:
sour system Of fire insurance having proved
Inadequate to meet the emergency caused by
large tires, the undersigned respectfully request
Jour honorable body to establish State bureau
of insurance, which shall issue policies on all
I,713T o%4 ~ ~+11
transmitting all premiums received to the State
Treasurer to be used like other moneys Of the
State. The State Treasurer to pay all losses On
the reception OF the proper certificate from the
State bureau
This movement receives indirect encourage
ment from the cities of Springfield, New Haven,
and Hartford. The Springfield Republican says
the Boston and Chicago fires can not fail to have
their " effect on the Investment habits Of that
city, particularly among men Of moderate
means, WEo elsewhere in the country do not put
their slender savngsinto This class of securities.
1t would be benefit to Hartford, and on the
whole. d strengthening of the insurance busi-
ness if this second calamity should dissolve the
only strictly insurance community in the coun-
try, and distribute the business more evenly,
not necessarily depriying it Of those elements OF
good management which it has apparently
gained from be being made ,;,.a specially L.
brokerage to be the reliance of any COM
munity. Tie truest and best property
is that which combines actual production by man
ufactures, or other forms OF labor with the best
direction OF capital" The New Haven Journal
says: The good people who have envied Hart
ford and Hartford capitalists the wealth supposed
to flow from insurance companies Of one sort and
another, have just now cause to congratulate
themselves that they are not depending upon
that hazardous business for their incomes
that their property: if not accumulating SO rap
idly as they could wish, is nevertheless coInpar-
atively safe from the perils which environ and
overtake the underwater. The late conaagra-
ton in Boston was serious blow to Hart
ford. Some Of her companies had gone
down with the great disaster at Cllica-
go, and those which weathered the
storm we're more or less crippled. Dividends to
stockholders, Of course, were not to be thought
Of. The solvent companies paid up as pleasant
II as they could, and put the best possible face
upon the future. Stockholders mustered their
patience to await the next dividend day but |
here comes the demand from Boston. and their |
men and women who expected o distribution OF |
not less than 100000 IS the profits of the
present years business, must be disappointed
must be thankful, indeed, if they are not called
tel. Remarking upon this state OF things,
The Coura1t expresses the Judgment that
: these companies, with all their wealth and vast
business, add very little to the substantial pros
perity Of Hartford In these days of adversely,
it is ralaer o matter of congratulatiou than |
otherwise that much Of the capital in these cor
porations. and consequentlya large share Of the |
lll-luck th2t has befal1cn them, belongs to
people outside the city and Of the State. Insur-
ance is hazardous and unhealthy business, and
the Courant is doing Hartford q real service in
urging her capitalists ard business men to turn
their attention more generally to manufacture
ing The profits may not rise to the fabulous
figures occasionally attained in insurance
stock, but it is easily shown that in tho
long run as handsome fortunes are made, and
that the measure Of SUCCESS depends much legs
upon luck, and more upon the energy and good
OF those who manage the business
There is quite enough of healthy excitement in
watching the markets, and much less Of the fe-
yerish anxiety of those who are forced to listen
every hour Of the day and night for the sound of
the alarm-be4 which notes the destruction of
property for which they must pay. We deplore
the reyerses of cur neighbor, and commend the
counsel offered By the press, commend it with
confidence, as limo Of business from which our
own city has prospered and is growing rich as
never before"
REDEMPTION OF 11GTHATED CURRENCY.
By direction of the Secretary Of the Treasury,
The practice Of transmitting transfer checks IN
Tue redemption OF old, defaced and nuti1ated
currency in sums OF five dollars and upwards,
md 1egal-tender notes IN sums OF fifty dollars |
and upwards, forwarded by express to the
Treasurer, will be discontinued Dec. l, 1872.
thereafter returns for such reInittances will be
made in I'll cases by express at the expense Of
he Department in new legal-tender notes or
fractional currency in such denominations as the
,wners may request. When no request is made,
aturns viii be made in currency Of the same
lind aa that received
REAL ESTATE.
The following instruments were fled for
ecord on Thursday, Nov. q:
C1TY PROPERTY.