, 1874-08-16
CHICAGO FIRES.
EASTERN INSURANCE COMPANIES,

EA5IEHN lASUHASCE COMPANIES.
We would ask the careful and attentive perus-
al Of the following copy of letter lately re-
ceived By one Of the largest mercantile firms in
Chicago, from 3 former wel1-known resident and
merchant of this city. who still retains large
property-lntereet here and has nothing but the
true prosperity OF the community at heart. It IL
an earnest and straightforward document, and
re hopo its warnings will be needed in time to
prevent greater calamity than any which has
yet befallen us:
Mr. DEAR s1as Your la:e disastrous ire has cais-
el alarm among underwriters having r7skR in your
Ia have an extensive acquaintance with the off,
cials of the leading fire insurance companies G1ld
aiho with capitalists owning stock in these na1ies
md have taken aius freely with them on
this subject feel competent CORRECTLY represent
their siews and plans in connection with tho Late
ton taken by the National Board. ,.
presume you aware that the National Board Of
Underwriters have l;ey passed resolutions expressive
OF their views OF the heed of RADICAL reforms in the
Department; the enforcement Of proper protective
fire laws, ETC., etc. ard that, unless these reforms
p-asticsy secured by Oct next, they viii With
1t il hardly necessary that remark in detail upon
the eject upon the property and business i'll
tGFess OF =; Ghieag1 Of removal ,, Of such
camille aud commercial business Of Chcsgo cannot bo
done under the protection Of all the insurance
n
eta..cea, be induced to take riaks there yust
amount Of business nov beng dons will leave you for
inore secure localities.
II the mercantile and commercial business of
Chicago cauuot he done Securely, and At moderate
cost for insurance. you cannot successfully compete
with other markets.
II the merchants Of Chicago cannot re. insurance
they cannot get credit
II the buildings Of Chicago cannot bo safely pro-
tccteu by insurance, tQoney caunot be borrowed to
Improve property.
In short, Chicago must have u good insurance az
TIC insurance capital OF the whole country affords
and ut reasonable rates. or it is doomed lose its
traHe, and its high position as the great business
centre OF the interior.
Let most earnestly aasure you that the tnsur-
rncs companies here serious and positive
they are not sensible End reasonatle7 These ere no
Idle threats. I hear the merchants aud property
ct Chicago do ndt appreciate tue seriou.naas
Of The situation. Or their imminent peril under it,
Of tho future Of Chicago. Capital Is pro-
verbally tmid, and capitalists are thoroughly
alarmed. hope every business man in chi
cago will awake 70 the vital importance Of immediate
and Improvements will not only satisfy insurance
companies. but secure the protection Of property in
every possible way within the bounds Of humxn
means.
You arc erpoeed to great Peril by the immense .cco-
mutation Of co1busttuo material piled about you On
tbs wind~a Eide, and By the preyalence Of dxuRer~
ona Winds; and, II you do ali that can ko doun for
seN-protecaon, you can only make your city barely
iuaur1hlo.
II al these terrible warnings .re unheeded, how
can you expect insurance companies to co,,.tuua
to peril thetr rery existence?
Is fact, and startling one, that the insurance.
IN Chicago h1a lost money there e1cludya of ths g
Tia city of Nav York sa and wood balSne1 ahai q
1nnazuezshs, and oa1y about oneshtrd ,ha 1s Apps-