New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-04-25
a, co,,rrs from IN. tn,rd :. the fourth wednesday, Of

meetings from the third 70 the fourlh VI
April. TIE Committee Mortgage Clausee u,out"
Mr. Rogers reported new form OF tho mortgage chusc
which under discussion when recess ., psh @ ~
hour was taken. when most OF the members p@''o0 "
a collation. provided IN the Same building ,r,oa
nearly hour before business Tas was the
report ~ the Committco on INDUSTRIOUS nno az s,i e
Mr. Hall reported that me Ooni'bS s .nS,eet I'm the
cord with the RECOMMENDATIONS on nV ,h,ug ,o add 20
Presidents address, and they had nOtnnR W auu 70
msae fc ST oanSs in reference
to AK branches of industfy-couoh MUS, paper mIs,
nils anS harlware rnsnnfactoros. The report recon-
menda that the Committee on Adjustments anu o,aus
Ss nave N,o oc;a Tepos and other sources information
which in the Judgment ~ yAusnle 10 re uhuerWflers
such ~ cTson as 10 losses which said Committee may
require The Committee also recommend that tho NOM
beTs f this Board 10 requested TO furnish the Commit
tee on Adjustments and Statistics copies OF adjustments
of losses us TO relative salvage on different articles
of apportpnmets In cases OF nOn-concur-
renee OF policies. other Information which may DO
considered OF general interest. 81.
Tie following offered in relation to the adjust
meut OF losses and after warm debate were Adopted
onpsS lie Sasr s3us emf and ps @sas 81 losses and VIII
expdt proofs Of sad losses es TO their respective Offices before
Rsoie payments lose, beo, n,iny .s'l not
onty ia having been previously received.
supplemental resolution Wis adopted directing that
ali tGeir agents and saasters The Board then pro
ceedcd to election, and the following ticket brought
Secretary and was nearly unanimously elected: -
Handoe TressS SR Pasi Secretary Samuel
E1eeriire Cornittee--stephen crower Ezra White,
and Henry KELLOGG OF Hartford Charles Piatt ana ~
Alfred q. Baker (ChairmaDl OF Philadelphia 4. u
Ponse of Cleveland ID. f. Wilcox Of Columbus. Ca;
Dwight r. Smith OF Springfield, Msss O. II. Bgeiow OF
Mr. schreidtusricker of Baltimore said that they had
In shot city about local companies VINO refused 70
present but he feared that danger might arise from
Issuing orders the Board Of Underwriters which
Of eompnHies Connected with the National Board The
orders 10 raise the standard on sugarhoses hau
had a tendency in this direction. After some debate,
the President stated that the action 10 which objection
Lad been made not that Of the National but OF the
NewYOrk Board. . ,,.,- "a.
Tho President read notice that An exhibition ola
sprinkler for exDgushng fires would be made to-day,
from 10 until o'clock at Walw orthst. and WlouRnDy-
ave. Brooklyn, to which members OF the Board were
invited; also announcement that the FIRE Depart
1T 10 a. this morning, the building OF the knicker,
booker Life Insurance Company, on Park-pace ana
Mir. Gsrrigue offered resolution instructing agents
to promulgate the rule declaring tna pattecns ~ b
insurance pOlIces Those not out Of date are to Dc es
mated at me- cost OF TIER fs sod which
was cent to the Executive Commttee.
STORING DANGEROUS PETROLEUM
Mr. Crowe urged Importance Of the establishment
Of uniform rule in regard to the rates OF insurance on
buildings where petroleum Is used for Illuminating pur-
poses. He thought policies ought TO Do refused alto
gethor where used stored unless II Is OF tho test
of 10 degrees He thought the losses from this source
were mach larger than had been appreciated In sup
port OF his theory, he read passages from a paper
recently presented to tho Franklin Institute Pbade
phia. He thought that the National Board should
establish a law regulating the use Of this "iniernal
fluid" Referred To the Executive Committee
Tue President OF the Philadelphia Board or Under
writers made address the importance OF the
National Boards establishing uniform rates OF insurance
aud then maintaining them. He said that companies
would not lose business BY maintaining rates sufcenty
high TO furnish ample protection AL the business hey
would lose was such they ought to be glad to get
lid of.
MI Hope read statistics Of losses by re in the City OF
NeWYOrk for 1870. 1871 and 1872, showing that the IN
crease loss had been steadily ana surely advancing
said must also be advanced in order 10 give
adequate security to the insured There was nothing
but ruin companies whO for the sake OF obtain
ing business, took risks below those rates which expe'
rlcnce had shown the older companies were necessary
Mr. Heald said that AL that was necessary was hon
esty. The the company that was honest was
fIn. OF outside companies, who nave competed Oy
lower rates. four out OF vo have been wiped out OF ex
isenCe.
The President said that he would postpone the appoint
ment OF The Standing Committees 10 "A future OCCASION
He then made remarks appropriate TO mo occasion
of bis election the fourth time 10 the Presidency or
the National Board. lie then declared the Board ad-
jOmned sine de.