Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-12-31
INSURANCE.

INSURANCE.
Something TO be Read by Property
| Holders Desiring Good and Re-
liable Insurance Thereon.
The secret circular headed "Cheap
Insurance. issued in clandestine
manner by the NASHVILLE BOARD OF
UNDERWRITERS" has no names att
tached to it, and as it has not been
publicly disavowed by any member, we
hold them all responsible for 1T, and IN
this article propose to contrast the
reckless underwriting of the Amazon
with the carefaI under writing of some
of the companies, so ably represented
by the astute and experienced gentle,
men composing said Board.
+ We have just procured the New
York Insurance report for 1872, which
we will be most happy to show to all
desiring to examine it. In that report.
page 21S, the Amazon company appear
In that year to have had an
Income of........$l 1876, 49, OIL
Expenditures. S36,6l5.70.I
Fronts. So0S,ooo,oI.
This includes premium receipts on
one side and fire losses on the other.
Here, then, this reckless underwater
had written in such way as to receive
80 per cent. profits on its years bust
ness. AS Allen A. Hall used to say,
will you please to stick a pin here"
Now, turn with us to page 211 of
said report, and examine the years
pany of Hartford. You find
The income. ................. S5,042, 497 50
Expenditures ............. 5,725, 800 Is
hoSs-...-.... 9ooz,ISz %
A clear loss on the years business of
the above sum. The Amazon writes
recklessly, EN- How does the Ktna
write?
Now, let us turn to page 272, and see
how the Hartford writes:
Income. ........h........... 50, 229, 234 90
Expenditures ......... 1888, 1876 80
A clear loss Of. S61O,57O 88
Now we will go back to pages AZ and
48, and scan the report of the Cont
mental Fire of New York:
Income ..................... S1,657 ,499 SO
Expenditures ........... 2,443,64 Oh
Loss S786,150 20
While the agent of this company at
Nashville was assailing the former
management of the Andes, Amazon,
and Triumph, this company was i'm
porting to New York the author of all
this reckless underwriting, and placed
their agencies under his management.
In noticing-this connection of Mr.. J.
B. Bennett with the Continental, the
Insurance Monitor, a great friend of the
Board Companies, (see its December
number, page 9l8,) congratulates the
company upon this suspicious event."
and adds: 81. B. could drive a longer
team of agents, at a higher rate of
speed and keep them straighter on the
road than any other man living"
Stick another pin here.
Turning to page COVE find the Home,
New York,
.OJt 81
Expenditures ................. 3,654;765 81
Loss .......................S 25S,O71 SIS |
Go to page 321, the Phoenix, of Hart
ford:
Income .....................S1, 614,716 SIS |
Expenditure ................. 1854, 223 ~ |
Loss 8 2495 O6 81 |
On page 36l, Imperial, London,
American Branch:
Income ........................S1, 1910 rs |
Expenditures. ........ 1,754, 1S5 So |
Loss. ........................S 330.11I Is |
Page 375, North British and Mercan-
tile, American Branch:
Income. .............. ,824 ,339 IA |
Expenditures. ............... 1922, l67 So |
Loss. Observation-Disclosures 1877 ,S2S Oh |
The Royal page 1881 does not give |
the American income and expenditures.
The American assets are 81, 345, 2S6 03 |
liabilities. ], 403, 2S1 IS |
American liabilities over
and beyond assets.... 1896 AZ
London, Liverpool and Globe page
367) American Branch:
Income. ........................S3 SO, 733, 100 SO
Expenditures. ............... 4,4S4, 1893 Sc
Loss. .........................S 751, 1893 "a
The business of the whole company,
including the European offices. was:
Total fire income, ..........S6 ,066,7 80 |
Total fire expenditures. -. 7,912,41S 80
Nett loss of the entire
fire business of the
company at home and
abroad...................S1, 845,711 60
1t will thus be seen that the forego-
ing companies, except the Amazon,
do how Io.-eoc d., |