The New York herald., 1872-11-19

Serious Embarrassment Still Arpre.
hendcd-Another New York Company
Syva m ned.

Serious Embarrassment Still Appre.
hended-An0ther New York Company
SwamPed.
The excitement attending the Boston fire last
week had barely subsidized when late on Saturday
evening another company dong business In this
city suspended, as the officers term 1t, and fol-
lowed the International, Humboldt and Wash
tngton As the HERALD predicted, some OF the
institutions affected by the fire which expected to
have no difficulty in making up their losses by
assessments, have found promises on the part
Of their stockholders one thing and action
another. Several Of those whose directors had
voted to make good the deficiency have so far been
unsuccessful, and are now considering what course
to pursue. The washington Insurance Company, with
a capital OF 100000 and $50 900 surplus put their
losses few days ago at the nominal figure of
$4,000. Yet at meeting OF the directors held ON
saturday evening they were unable to make up
the deficiency, and resolved to suspend. This
course has given new impulse TO the anxiety en-
tertained in insurance circles, as it was be-
heved to be sale, and 1t is thought that many
which 1t Is understood have not yet secured the
payment into their treasures OF the necessary
assessment are the Corn Exchange, the Arctic,
and, rumOr says the Hoffman. The officers OF
these companies, however, maintain that they will
HERALD, who yesterday visited the Washington,
had great difficulty In obtaining any facts TO its
condition. The secretary said they had merely
suspended and might go on again; but q gentle
man sitting at the Presidents desk, and believed
to be that gentleman, in response to the question
as to the assets and liabilities OF the company re-
piled, "Our losses more than entire
capital and surplus as 1t now stands" The
capital and assets are $250,o00, SO the company
must have sustained more than that loss at Boston,
instead OF $70,000 given as their loss to HERALD
reporter on Tuesday last. Outside parties report
that the company will be able to pay fifty per cent
to stockholders after settling their losses; but II
their entire capital and surplus have been wiped
out the public will be curious to learn where the
money Is to come from to do 1t, let alone reinsur-
ing their risks. 1t s pretty evident that the COM
pany is hopelessly bankrupt, and they will not
likely be able TO pay anything on the stock, If the
officials statements are to be relied upon. In the
face OF such condition OF things it Is
difficult to see how the Washington Is
t9 resume business. II their statement on
Tuesday, that their Toss was $4,000, is true,
1t becQmes o pertinent inquiry where the other
$3.50 900 OF their assets have gone to. The Standard
Insurance Company lost heavily in the fire, but
their directors, with well-defned pluck, levied an
assessment OF eighty five per cent upon their stock
and pledged themselves to make good the amount.
This places the Standard in safe place, and is an
example worthy OF emulation This Is the first
assessment ever made by the company, which has
mad high degree of prosperity, having returned
more to the stockholders in the shape OF dividends
than their entire capital representa-.
terday and prolessed it's ability to pay about sixty
per cent of It's Boston losses. Other suspensions
may be hourly looked Tor among out-of-tOwn COM