, 1873-01-20
FIRE UNDERWRITING.
The Insurance System and the
Catastrophes.
Effect OF tho Fires OF Chicago and
Boston.


n1rs.-4r t1
Ane 1aool1n1'y u Aosofa' a'1u 'uo 'esult
among tile companies.
14,s MI tho doeio, 40 W, ,,ros.,+ .rt,,,. to
~o,>,o;,nno +ha toh,.r ut,ton,orts ~ loo 1885,
s,onod bv the oreat conf1ngrntiona Int rathor tn
da, With ooncr.t rcun,ta aa affoc.fne, I'm ,ntar.
cst of Fire Underwriting. md to hrioay troat
thc nrsotica1 oneatlona sr,aing from tha s.me
Thn oncat;on Ina hoan nakc1 ~ ,ato v,n ntnaur.
nnco intended to spplv to euch who,oa.le d.
a,,,,cton of ,oronnrtv AZ han bcen vvitnonaod NJ
ChIcauo nn1 r,oston2 Yes. un1ouhtoa,v Thu
frat comma ;oa n wh,cn 1vc havo anv scoount
wars orcanizad mt innnv vaars aftnr tho oroat
fra IN Tordon ana with ovrroa, rofororco n
tho i,oncor ~ ronat,tfon ~ t1,st d;aaa tsr IN.
.urancc was thcroforo 5caioncd n rnoot 1nat
smch exiconcIos Int thu nroyieion has noycr
haon adoouoto tn that and. ,1tho,,c1r abundant
for ordinary occaa;ona whother n js
,r.otto,b1o !, ma1a +ha foundations
~ tha atruc.r,ro ~ 11n,arvr,tnc firm o,,ouoh tn
s,star mi, 1o.da IN ,ro ynt,,ro conrot he doa.
,i,or oott,oa ,or WIN Ia to dooido what atra;na
- iii H. o.,,a5 ,,nor n .n7rro2 r. ia not hast
$1of& &raf +13sd11 e1r n
srator, ~ ,,rotootio, ,vich hnu n A. viii dan.
.rara ;r,nos.;h1o yrono +,,or varv ,,,turo tn to
av.a.1r a.t;r,ntoa o,thor T., ooeto.,ta ~ do,.,l
1'ho 1caa reli,nco nlnce1 unon insurance TIM
7ro,tor c,ro will ho ox xorc,aod In aft otcr dfroc
tiona To nroyont the occurrence or snroad Of fro,
There Ia a practical illustration Of this near ut
hand. Tho sore visitation Of October 1871,
terribly affected rublio confidence in existing
companies. For fifteen months tho losses by
fire in this CITY 1ayo boen loss tlan in any torn
of the aame length during ten wears past
Honest. men have been careful Of their
own nrernigea. mud have kent ioalous watch over
their noichbors, The small clasa who hnvo In
times past made 40 much mischief By wilful
firing Of property for gain, hnvt not soon their
wuy cloar to perpetrato n dangerous fraud with
no certainty OF realizlug tho desired profit.
Tho blind confidence formerly placed in policies
Of insurance was tempting to the vicious, do
moralizng to tho upright, and not to be desired
oven by the undorwriter, for In tho hour of OK
treno calamity, tho community Ia ahookod to
find TINT amelioration OF it's distross md not In
tcunitv ia ali that can bo looked for and chareos
of bud faith and mismanauement are hcnnoa
upon insurance managers, who, Of NIL mon, ut
auch tine, arc deserving Of sympathy md tol-
GRAFTON, They aro not gifted with proBclenco
moro than othor men, md can no moro antici-
pato such startling events thnn forecast tho d.
rection Of lightning In storm. Every good
Underwater knowa that terrible sweeping con-
flagrations aro in the rauge OF possibility, aud
builds as strongly as possible with reference to
them, hut Lo finds the mercantile community
ehy OF insurance stocks. reluctant to nav full.
rates Of premium, and sadly nogloetful Of tho
- .....-..,.;,,n a.r.;.,...,.,.: 49,.
means o. pre'ous1ns anu eAe,"Su'sn1ns 1ioS.
He must either retire from tho tiolu Tor want OF
capital, want Of support, want OF protection
from hazards he ought not to. but must. assune
or cont;n,,o labor of 1oya vh;c1, has bnt 1ittlo
~ "o''A'"s '"Oo' vs. "o'o "DAs. A'A0 D'1s "'''o
prospect OF app9ecls1lon unaer tho most 1aSosa"
bio circumstances and at times rendcrs him
liablo to fnisconutruction, and ceusure. The
tendency Of recent events will be to enl,chton
1SAAe''eJ ~ AS~eAs e'oA4so VAL Nv W St4AabA+oA