New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-01-11
THE BOSTON FIRE.
SUMMING UP THE INSURANCE LOSSES.

4
THEY AMOUNT TO OVER FIYTY-sIx MILLIONS
| A LONG ARRAY OF SUFFERING COMPANIES
RECOVERY FROM THE WRECK.
| lBY TELEGRAPH TO THE TRIBUxE.l
Boston, Jan. 10.-In compliance with reso-
luton OF the last Legislature. the Insurance Comms-
presented this afternoon, To the present Il gsa-
his report showing the standing and condition OF
all fire insurance corporations in the Commenwe
nsolyent otherwise" Immediately after the fire the
Commissioner. Julius L. Clarke undertook special re-
port data furnished by several statements OF
companies and first given 90 the public IN
detail in TIE TRIBUNE, over month ago. After
theegslatve action opportunity given TO COM
paues revise their reports and the present tabulon
is based the latest information though fun returns
have not been received from the California ana foreign
companies and their Boston losses are accordingly de-
rived from their local agencies or the 81 mutual fre
companies in Massachusetts,. u suffered from the TIRE
while the Joint stock companies numbering 81 we're all
save one involved. The report shows the condition OF
the 1877 companies doing business I'm Massachusetts,
of which l47 reported losses ranging from 1900 TO
S3OOOOO0 the Dedham Mutual being the smallest
and the Merchants' OF Boston the largest
loser the atters loss footing upS2s44OO The Whole
amount OF property insured within the burnt districts
reported and probably cannot be fully ascertaned
though the actual losses adjusted nearly adjusted for
payment show a close approximation These after
deduction OF savages represent aggregate amounting
TO nearly S565OOOOO. What percentage OF this large
amount Will be finally realized by the property losers
cannot now be determined. They will be fortunate II
the maximum should reach 10 per cent Mr. Clarke
thinks il is likely 10 be lesa.
The report of gives officially only the losses
sustained by the companies, the aggregate
OF all by the fire being estimated al from SS0OOOo
TO SOO0O This estimate s about S5OOOOOO In excess
Of the estimate, s5OO0OOO accepted by the
Secretary the Board OF Trade his report The % home
companies which hayei fallen include four mutuas ana
90 faG fuFa
Faneu Hail. Of the latter class placed under tenn
porary Injunction, which Will De removed. the
company having made arrangements for the prompt
settlement OF the losses and the restoration OF It's
capital. The New-England, also heavy loser, has
been relieved by a special act OF the Legislature
authorizing issue OF preferred stock all OF which has
been promptly taken up OF the 115 companies which
survive their losses more than have been compelled
10 adopt measures for the restoration OF their capital or
assets IN most cases by ranging from 20 10
per cent, and IN few others by reduction OF capital
The Union OF Francisco has ceased writing in Missa-
chusets and rensured Its Eastern risks in the Liverpool
and London and Globe the latter promptly paying the
losses of the former Among the losses by the
Boston fire are 80 insurance companies which we're
not authorized in MASSACHUSETTS,, their losses amount
ing to sJ37,OOO This insurance was in some cases
effected outside the limits Of the State, and in others
clandestney secured within it, ThirtyOne Of the In
srance companies represented In the state are now IN
the hands Of OF these 26 are Massachusetts
companies The total losses of Massachusetts, compa-
MES as previously given in The TRIBUNE are S57OOCo
OF which the Joint stock companies lose about 3OOOOo
The only mutual fire marine company losing was the
India which lost $4,000 The distribution OF losses out
side the state is about as follows:
New-York Compa- Rhode Island Com
81 500 900 panies, little OverSl 00),0oO
Pennsylvania Com Foreign Companies 4.560,OlO
panies ........ 10000 Maine Companies. JOJOJJ
Connecticut Com ONO Comp llies...- 250,O9
panles about 3,OO.OOO
Nev-Hampshire, Illinois, Wisconsin, Minnesota, and
California together lose less than S250OOO and New
Hampshire gets of with $500. Twentyeight companies
have admitted do business in the state since the
fire. Under the general Insurance law, recently
enacted, y new companies have been organized ana
chartered. and nine have already begun business.