The New York herald., 1872-11-15
THE INSURANCE INTERESTS.

The Excitement Absting and . Feeling
Of Security Succeeding 1.-THE Market
Only Temporarily Embarrassod-Ab-
surd Rumor Regarding tho Hope-Tho
Danger OF Ccntralizing Risks.
There was better feeling yesterday in in
surance circles, owing to the favorable reports
made by the agents Of some Of the companies who
have just returned from Boston. A few companies
have discovered that the salvage will be larger on
certain risks than was at first supposed. As an
instance OF this, one company who had policy OF
$4,000 on dry goods in q commission house have
the gratifying intelligence that owing to most of
the stock having been sent to the jobbing
houses their loss viii be less than two thou
sand dollars. 1t is believed that other CON-
psntes will have similar experience. and
that their admitted losses will be materially de-
creased on the final adjustment or the claims
against them. Another cause for the abatement
OF the excitement s found In the fact that earnest
efforts are being made by the directors OF most Of
the companies more seriously affected to make up
by assessments upon their stockholders the sums
lost, SO as TO leave their capital and surplus unim
nies viii likely be successful. Mr.. Church, the
Acting Insurance Commissioner OF the State, Is
now In the city investigating the condition OF the
companies and he promises to cOnstrue the law as
hberally as he can in favor Of all companies whose
oficers are honestly disposed to meet their just
financial basis. The lessons or Boston and Chicago
1t is believed will be beneficial In that it win induce
the dre underwriters to exercise more caution In
accepted as high as $4,000 risks on single city
block, while more venturesOme companies have
every other building IN block. These late fires
have demonstrated that these companies have
assume greater risks than IN eight or ora ten
city blocks. The policy Of concentrating risks In
one or two cities, or in q few blocks at best, is
dangerous one, and those companies who have
scattered their business over wide space Of ter
ritOry, and in various cities have been but little
insurance men express the belief that the distrbu
ton OF risks, as above Indicated, is the only
way can protect
and it is likely that in future this subject viii re-
Geiye careful attention, not only by the National
on the 2lst instant but at the hands OF individual
members OF it.
o 81 sae $ t cn be %
anticipated. The President Mr.. Asher Taylor, sent
careful agent to Boston to ascertain the loss and
He reports that the old company, from which the
present Market is an onshooI, paid every dollar
Chicago ss 0ss ssss s as T0E IN iii ss ss
the. present Market Is new company,
With sousdant resources 70 pay ~ Losses
dollar for dollar. The directors are engaged in an
eort to secure the support Of the stockholders In
standing, when business win be resumed, and the
necessity Of appointing receiver be obviated. No
mrtner suspension occurred yesterday, although
an absurd rumOr was put In circulation early in
the nay that the Hope had been forced to suspend.
This was Of course canard, a. their loss was but
$4,000 their risks in the burnt district but 900.
We're they TO lose their entire risks they would
still have their capital Of $780, e00 and 1000 Of
their surplus left. Their agent, who has just re-
turned from Boston, believes that their loss will be
covered by $4,000.
Taking the situation as It appeared yesterday
there are strong grounds for believing that no
more suspensions Will occur among New York COM
panies unless the stockholders OF three or four are
unsuccessful IN making good the loss.