, 1872-11-27
INSURANCE.
4 Talk With q General Agent On !he
Subject Of Increasing i;,a
Rates.
A Stampede Of Stockholders
Apprehended.
The Recent Council of the Under
>. writer's at New York.

Mr. B, 4. French, General Agent for the ORR
ent Insurance Company, is a gentleman whose
theories concerning insurance matters have long
been held in high esteem Hearing that ur.
French had some original ideas concerning the
recent action of the Board Of Underwriters in
New York, a TRIBUNE reporter called upon him
yesterday afternoon and obtained from him the
following:
Reporter-3Ir. French, what is your opinion
concerning the recent action Of the Board of
Underwriters in New York?
Mr. French-I think it eminentlJ proper; and
I will tell you why. That serious crisis in in
surance affairs is impending and imminent,
there can be little doubt, and think the system
as hitherto pursueu in this country is in danger
Of a fatal collapse.
Reporter-What are your reasons for think
ing this?
Mr.. French-I have the best Of reasona. In
the first place. insurance has ceased to make
any return commensurate with the money in
vested and the labor bestowed upon it. It is
we'll known that, in the city Of Hartford
alone, there are about $4,000: GOO
tied up in the fire insurance business, the
owners Of which yast sum have net received
profit Of quarter per cent in return for its use,
for some fifteen months past, or since before
the fire in this city, and since the Boston fire
there is little prospect for any return thereon
for as many months to come; and, in
deed, Of those vino have put their ven
lures in these unpromising bottoms, not few
Will be compelled to advance still more money to
save the credit Of the company, for if they let
that go down then all their previous outlays will
be lost, and their company slide into the hope
less vortex Of bankruptcy.
Reporter-But, Mr. French, what do YOU
peGeve will be the result Of these things?
Mr.. French-The result will be, simply. that
insurance companies will withdraw from buEi-
ness, or reform the present system. Had 3
citizen Of Chicago money in such non-paying
enterprise, who does not know what he would
SGSs %a4v soon his as p9ss0le franz ae w9pa 9Bst
basket very speedily, and set them where lie
might confidently count On few chickens By
and BY, if not speedily. And the insurance men
Ct Hartford are to day resolving just that prob
investment which pays so well in ordinary times
is based upon q poor system to protect them
from the severer risks to which they are sub
ject; ard many Of these men, believing that no
By they may be protected from these fires, are
looking about them to see where theycan invest
their money, so that it bring them profit, with
out their being subject to such great risks.
hePortet-but "here 90 Inese eentlemen pro-
pose 70 1nVest tnelrmoney! :,
alr. trench-Ihere are many openings for It,
aao openings, Zoo, Whach Will not swaAo" It;
cotton Woouen, ana l!on manufactures are al1
around them, and dlV1denos are frequent and
generous and ne lenoency ls strong, stronger
than Is bene7ea. toward q DIVISION OF the null
@ IONS now devoted 70 underWr1hng, M to avocatlons
Less hazafdoas anu pefple3lng. Inns stampede
once ven begun, what at"oulo De me result' Why,
JUST thls: Inc large amoung OF INSURANCE STOCK
then On the market would, OF course, greatly
depreclate IN value; Speculative purchasers
would not pethe men 70 Pay assessments thereon.
and the companies neeonS tnese assessments
would necessarily GO out OF business.
KsportefI7Ih1s, then' would leaEe @ US without
any hnsnclai Protecnon against nre
Mr. fFench-Not quite; put the seeming pro-
tectlon We would nave YOU'D oe worse than an
entl5e. ansenee OF insurance companies: You
see L thus state Of things should come to pass-
ana 1t surely NJ some remedy Is not dey1sed--
no further Inducements to Put borg ~t5de cash
INTO such ca1hng would exist, and the business
puoAc %oo1d SO iar pc lett 20 seek protect1on
aga1ast LOSS q He, aupng .1s commence men
a,A ana snafhs ~ Mno are alWays hanging upon the
a nanfs u soc.esy iHauy 70 give aia TO the nnsus
Fecnas Hno afe "1llne 1o accsPE any assistance
Pr0nerea.
% heppllsi-Dut, LIT , NJ fIencn' nnas mas 1nls 70