, 1874-09-27
INSURANCE NEWS,

INSURANCE NEWS.
There is hardly doubt that the majority c
the Insurance companies belonging to tho Na
tional Board will withdraw from this city, 4
recommended By the Executive Committe
OF the National Board, on The 1st Of October
There Is. however, probability that
TuEr WILL COME EAcK AGAIN
in short time, having learned thai their hast
action waa not only IN Just, but also unwise
Nothing would be better calculated to induce til
companies to remain here than tho appointment
Of Gen 6haler, Of New York. as Chief OF the Firt
Department. AL the agents tn1ked to On this
subject yesterday we're confident that but fen
companies would leave the city i he Tas ap-
pointed.
NE. g. II. MOORE,
who has just returned from Now York, said that
the main dissatisfaction arose from the fact that
orr Fire Department, unlike that Of other cities,
Was completely under the control OF unscTupu-
locs politicians. They knew Gen 6ha1er in Now
York, and knew that he would not be tool in
tla banda of any party or clique. He Was
thought to bo the only man who could make our
Fire Department AZ efficient aa that Of Now
York. or course Gen. Shaler il a Aigh-priccd
nnu but the insurance agents belonging to the
tho Local Board state that they would be willing
to pav largo s1lare Of his salary themselves.
The Local Board pays at present 22, 600
per annum to its Commissioner, Mr. Ayars,
At the uext meeting Of the Board, on tbs lst OF
October. = strong effort will be made to replace
him. Should, however, the company which AIr.
Avars represents withdraw on the 1st Of October,
aE it has threatened to do, then he would neces-
CARLY ceaze to be rnember of the Local Board
of Underwriters, and therefore would OF nece5-
atty cease 70 te Fire Commissioner,
Tho action tAkeu by our best local COMPANY
TIRE Traders
in Withdrawing from the Local Board to be ena-
bled to liz its own ratea, il commended on all
Of thiB Company, is one OF the
ablest and most influential insurance men in the
city. He mas always been strong adyocato of
the National Board, but be has lAtelv changed
his opinion considerably. In letter to bis East
ern General Agent, dated yesterday, informing
linn OF tie action or his Company in Withdrawing
from the local Board on account of the action
taken by the National Board. he gives his opiu-
ion IS follows: - 1t the recommendation OF the
Executive Committee of the National Boa1d is
carried out by the individual companies the 10
cal Board wall be useless and expcnaivc body.
We hxve concluded to hereafter manage our own
affairs and fix our own rates n thls city. The
Executive Committee hare by their act
p placed Chicago virtually outside the palo
wherein they have now anything to aay further
IN regard to local matters here. Hence our &c
ton does not necessarily place Us in antagonis1n
to tue National Board in any OF our egencns,
unless the Executive Committee 10 elect They
cnn, however, have quiet funeral or an Irish |
wake just as they prefer. They have forfeited |
our respect, and ought not to SAX for our 10y |
alty."
THE NEW LOCAL COMPANY,
Fhlch is just now organizing, 1s mixing rapid
oEogress. The following gentlemen have taken
itock: c. ii. Henderson, John B. Welsh, Of
he Western News Company; Charles B. King.
y King Brothers H: H. Nash, Cashier First
National Bnnk; A. c. Hesing, H. ". King l.
o., Rumsey Brothers, and several others.
ar. Cntchell. the agent Of the phGni1, Of
BROOKLYN, and several other companies has the
OF Rdalra, and he il well posted
Il insurance matters and his character stapds
20 high, that this enterprise cannot fail to be
ueccss- The opinion ia generally expressed
hat moro good local companies uero q necessity /
d tlas city. Affairs in St. Louis aud Cincinnati i
re- sad to be no better than in tits city, and
EsurRnce companies have made much less !
lGney than they have here since the fire OF 1871. |
till these cities have low rates, because they
$50 large number OF local compauies that
eep tue tariff rs low as possible, and compel
he outside cou4I an!es to be reasonable.
TIE NORTHWESTERN NATIONAL.
CHICAGO, Sept. &c, 1874.
o tie Editor Of The Chicaoe Tr.oune:
Sir, In your renal ks about insurance your |
st OF companies gave the Northwestern Natou- |
Insurance Company OF milwaukee, only $500
" capital, when the fact ia have $GbU 0t0 |
ash capital aud $3.50. 0Oo assetg being the larC-
u company west Of New York. We thei eGore | !
bject to being chased oue ct the smallest. !
The company is purely Western institution, ;
I'D proposes 20 manage its own affairs, which it
as done tince tue unjust and absurd !
atioxal Board tariff went into effect, We ,
now OF no reason why we should withdraw |
ON Chicago, when, in fact, everything tends to
AXE it desirable for us,to remain, where there +
plenty OF good business and good rates. and, ,
,ercfore. the question of withdrawal has never I
'en discussed by any one counec.ed With this
omFany. ALFRED JAMES, Manager.
TIE ET- PAUL FIRE / MARINE. r
L dispatch from ST. Paul htatcs that the St. ;
Rul Fire d Marine Insurance Company will not | +
Ithdraw from Chicago on the lst Of October, ! +
1t will con6ne ita risks to certain 1iInits. /
TIE NEW YORK IRIEUNK !
the 25th Gays, editorialiy: t
Since Chicago has failed take 1ness.,res for her
n safety, our insurance companies have eotculed &
abaplon her to her fate. As city with the level
pause Of the ake on the hand and tie rraria .
l. the other, which unchecked winds xcuuire
eat violence. she is peculiarly exposed BY situa-
N to destructive conhagrationB- But, il this
sre not enough. she has poorly organized rnd
efficient Fire DeD11tnent; aud locomotives in 1er
'ectH, steamboats, IN her river, and petrole u2-l.ag
cto1les are added to her per1ls. Tic terrible
.1co OF tie EeRt has ucltrl substantial improve
cEt- We ahal ali brrxthe more freely rs TO OLE Q
n risks when know th2t our companies Lxye {
a+ed to take any in Chicago. Whether city hat L
mot be scared into reform by two grsI, nres viii
driven INTO txrdy prudence By this withdrawal p; a
ne alone will show tho pressure will principally be
ought to bear y the resulting withdrawal Of E4seru
Eestnen.a IN her real estate ! t