Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1872-03-07
THE NEW YORK INSURANCE CON.
PANlES,
What Amount CT Insurance VIII he
Patd-Return of the Chicago Altor-

From tho Chicago Evening Post.
Mr.. Walter s. Carter, the attorney
who visited New York in the interests
Of the policy-holders of the insolvent
insurance companies Of tn It city, has
returned. Hestates that he reached
New York on Monday morning, but
that the proceedings of the meeting
which selected him as attorney had
preceded him. Not regarding the in
structions of the meeting as CON-
pelling him to file petitions in
bankruptcy in every instance, he de-
cided to take each case up by itself, to
consider carefully all the facts, and
then take such action as seemed best.
He found, to begin with, a great change
since his departure from there a month
ago. Then, only one of the fifteen COM
panies conld declare a dividend within
the four months limited by law; now,
nearly all of them were willing and
ready to do so. Then, most of them
intended to pay unearned premiums in
full; now, they proposed to pay them
pro rata.
For instance, the Etna declared 40
cents payable on the 26th. Their un-
earned premiums ($68, ,OOU had already
been paid. The assets $439, 733. 48, and
the liabilities $640, 326. .48. The Etna
will probably pay altogether say IS
cents.
The assets of the Astor are $780,
736.38. and the liabilities $462, ,776.27.
The first meeting will probably be held
this week, and divided of 40 or so
per cent. will be declared. The amount
now at risk is not over 81, $50, 600, and
they will probably pay 72} cents
finally.
The Atlantic had obtained their or
der and drawn their checks to pay their
unearned premiums ($l75, O00) in full.
They have now decided MOTTO pay them,
and will declare dividend of fifteen
or twenty per cent. very soon. They
will not pay, ultimanely, over 81 cents.
The Excelsior will not pay unearned
premiums. Their assets are $275, 1885,
73, and their liabilities, $3.50, 251. "a.
They have $4,000, 600 still at risk, go
there will be no immediate dividend :;
but 27} by and by.
The Fulton will not pay unearned
premiums. Their assets are $265, 954. :.
SO, and their liabilities 1884, 143. SO.
The dividend may be Is per cent, but
there will be none at present.
The Irving has assets of $309, 246. 63,
and liabilities of $500, 49, IA. They will
probably declare 80 or 33} per cent,
and will ultimately pay, say Az cents.
Four weeks ago the Loriliard main
dividend Immediately. They had de
cided, however. to pay Is per cent. !;
but. hearing of the action of the meet
ing of policy-holders, declared q divi-
dend Of 60 per cent; dating their no.
tice the 18th, though not publishing it
till the 10th. A director told him they
would pay from 20 to Is per cent. ad-
dltional.
The Manhattan had declared a div
idend of 40 per cent, and will pay Ii
more inside of six weeks. They had
agreed also not to pay unearned pre-.
miums, but Mr.. Coolbaugh has fled q
petition in bankruptcy against them.
They will pay 20 per cent. in all.
The Market has been put into bank
ruptcy by Mr.. Coolbaugh. He was al
their meeting, at which their assets
were stated to be $707, 537. 58, and thei,
u8U1ut10S V1, 1JOS S05i.O1. Lucy uaO Oe'
clared dividend 20 per cent, and
would have paid 80 per cent. more
inside of six weeks had it not been fol
the bankruptcy.
The New Amsterdam will pay q sec-
ond dividend of 25 per cent on the 5th
of. March, and the whole trust will be
closed within two months. They will
pay, in all, about 81 per cent.
The North America has declared q
dividend of 40 per cent. Will pay
about Is more. The unearned premi-
ums ($10O, ,OOO) have been paid. They
have assets of $3.50, 793. 70, and liabili-
ties OF $839, 1888.
The Security will probably pay a
dividend of Is per cent. in the course
of the next month. The dividend may
reach 50 per cent. at last.
The Washington has declared divi-
dend of 40 per cent. Their assets are
$537, ,958 Al, and their liabilities, 1922,
O34.3l. A ghrewd director said they
would pay ST. per cent.
The receiver of the Yonkers and New
York said he should have paid q divi-
dend of so per cent. had it not been for
Mr.. Coolbaugb's bankruptcy proceed
ings.