Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-05-03
ire, Life, and Marine Insurance business
lin Maine.

I ire, Life, and Marine Insurance Business
in Maine.
Hon. A. w. Paine Of Bangor, the Insur-
ice Commissioner of this State, will soon is
lie his annual report, which will be found
e most complete and exhaustive report on
e subject Of insurance ever issued in this
tate. We have examined the advance sheets
ld will give our readers an abstract of the
port.
During the year 1872 the following de-
ribbed insurance companies did business in
e State after the first day of July, viz
Domestic. One Mutual Life Insurance,
70 Stock Marine, two Mutual Marine, four
Fcck Fire Marine, thirty-six Mutual Fire.
Foreign. Sixtyseven Fire and Fire Ma
be, thirty-seven Life, one Accident. No ex
usive Marine Company was admitted.
The Raymond Mutual Fire Company, in-
rporated at the last previous session of the
gislature, organized and commenced bust
IS. The Wateryille Mutual Fire discon-
ued business, having arranged all its La
tiles. The Maine Mutual Marine of Ban
r, discontinued taking risks, and is closing
siness with view to final abandonment Of
charter. The Eastern of Bangor, having
It with very severe losses in the Boston fire
pounting to Sl92 900, its stockholders vol
tarily assessed themselves sufficient to pay
ese, and having Teinsured q large part of
eir outstanding risks, discontinued taking
y new ones, and will as rapidly as possible
norably arrange those now on hand and
andon the work of insurance altogether.
its liabilities will be honorably discharged
the letter. The National of Bangor, also
t with crushing disaster in the Boston
E, having sustained losses there almost
1al to its entire capital stock. The blow
ming SO soon after its heavy loss at Chica-
was too severe to admit Of resuscitation,
d by due process of law the affairs of the
ak were put into the hands ofcompetent re-
vers for settlement. A few months pre-
Pus to its failure the company had assets
acient to leave an impairment of its cap
to the amount of only $l2,2s9,0S. The
ent of its Boston losses and the necessary
probation in that part of its assets, consist
of unearned premiums and balances in
ents' hands, will materially affect the
cunt of any dividends which may be ex-
cted from the efforts of the receivers.
IF the companies admitted to do business
The State, the following were obliged to
pend business by reason of their severe
SEES at Boston on the 9th of November last,
made no report Bay State, Worcester ;
change, Boston; Howard, Boston; Inter
ional, New York; Manufacturers, Boston
rket, New York; North American, Bos-
Peoples, Worcester.
he Andes and Triumph Companies of Gin
natl, both reinsured their risks and sus-
ded business, their liabilities being all
vided tor. The Home Company of CO.
lbus and National Fire and Marine OF
ladelphia, withdrew from the State. The
tional Capital Life of Washington reinsur-
its risks in the Penn Mutual Life of Phila-
phia, and withdrew from business. The
ardian Life also withdrew from the State.
he following persons have been licensed
insurance Brokers during the year, viz:
.lbion 2. Weeks, Weeks Mills; N. S.
diner, Portland; A. M. Bradley & Son.
Vassalboro'; II. Gregory, Jr., Rock
Edward E. Upham, Portland; Freder.
w. Bartlett, Bangor; G. W. Boynton
roit; George ii. McKechnie, Alton; VIM
Burr, Brewer; Gilbert Hasty, Waterbor.
h; Samuel M. Came, Alfred; S. a. Jones