, 1874-08-07
INSURANCE..

Ats Absolute Necessity to olsicnEo-~
Nerd DK 1n0ltlo Rnsttrt&llcn CUIMtua
stitSt
70 thu Etlitor rTht chied0o 7yi1unt:
SIT Your editorial OIL INSURANCE, showing ltB
absolute necessity TO tue businessmen. proper
ty-owners. mid tho very lifo Of tho city, will.
trust, 10 onrofulIy por,acd, mud sink dogp III tho
| minds Of tho thinking portion OF tic communlty.
On insurance depends tho safety Of tito creditor,
tho falni1y'B welfare, and Tho possibility Of ne-
gotiaing not only tho necessary loans for tho
improvement Of individual roal ostaso, b,lt Ctr
corporate bu1sds. Depiivo the city Of insurance,
mud It's credit iA Mt once destroyed our NOR
chants and manufacturers cah buy ouly for cash;
real oatato will depsecatc. anil luxutiaut carpet
or grass nnd woods will cover our Nieoson payo-
! nei,ts,
Every intsabitaut Of Chicago is to n great Ok
tent dependent OH ilBn1anco which creates tho
shipping, and trade popslblo. This advantages
nnd nocoaslfy Of insurauce-lrotecton arc 80 we'll
known and understood that@t IL almost fncredl-
Bile to find some individuals (wlo uro probably
writing only for banconlbo) endeayo,ing to
arguing, or grctcnting to argue, TINT brcauso
insuranco, like other good thingH. is Liable to
abuao. It snonld bc abolished. According to
thH argument, 4 certain claas Of newsphnors
!tye BY black.nai!ing, the press n!,osd 10 euul-
islsod; because quncks crcop into tho profession.
aboiish tho pbysrinns; bncn11Bo proarhor onoo
Ia while fasla from grncP, abolish tho prnacli-
ors aud TO on. hut, whllo all know tho tu-
Bura,ce prafosBion ia Liable to abuaes, aud ILL.,
su.auce companies, lihD amy other bnsincBs-en-
torprisos, AhUw proportion Of falu1os. through
misfortune incompetence, and dishonesty, TITO
artsclo in essential rs clothing or grocorles, mud
niust DO haa from some l'tnrter.
Chicago III threatened with tho withdrawal Of
apmo forbigu insurance companies, and tho re-
nlatnlslE oneH insist OIL large advance IN ratios
OF prn,,un. Quo moro fire Of any magnitude.
noasiS s' al. M vii IH wtbaraw @ % Tho FraSSln q
phitaaophin, Inns not bocn hero 6incc tho Grcat
Fire; the Scottish Commercial bus withdrawn;
others aro preparing to 10 likowBe; and nl1 aro
largely curtai}ng their lines. Yont illustration
of tho pork totghaut wt,o was forced to bhtp Eia
products to anoshor city simply bocnuso he could
not 20; insurance hero plainly shows whittier We
are dnftillg. Il fow moro nBtal!coB Of this kind,
antl sonsignmona wili be fey aud tar between
up Ohcasos trade botwoen them.
Forcign INSURANCE companies ,osT Hay: "Chi-
eago is bad place; no one thcro wil encourage
inhnrareo son'panies her Capitalists won't 4 n,
r.sh7" And The charge istoo t,ne. 'Hclp your
aotYes at least to Hono oxttnt, aud VIC will feel
IL safe to asrint yon," In the natural conclusion.
Chicago capitalists m,lst come forward n,id do
something to"ards organizing ut ieant i've or
Nix INSURANCE. companies, whoao aasots shall bo
above suspicion, and whuse o!ticcsa shall DO
mnn of ct,nrrcter ntu1 command tho cou1aucn
n tin nn,In IN tI,is ,nstnncc i'm rccent stntc.
mont 81 tic Atlantic i Pacific Is unfortunate;
~ hsyo axisted frnt rio etnrt nnd TINT II ia mt
nj, i'm reaiit of misSor;n.,n nr renhinnsnesa irt
IN annlyzo lhe atItemntt
va,,, ~ nsanta "a ss,,,.;s, no fo,r,,pv %,,s nm
- '' - -.---
Difference .s1uoooo
Tho Cou,pauyB deficit after rcitpl,runco, out
sta,11tiug Losses auJ cavItal utuck, Ia some
dolJta was correct as tho Company reprcsontcd
them, tNe tlcicit wun,d bo pu|y go,np e9a OIO,
Thls is easily accounted fur by tho dofalcatiou
of tl1o New York agent, prini1e; but Ii IL owl
don't tho n,ortEacoa we're ncoet,tefl as do}ciont
Yer,trity. and ihS Ootnpnny VIVA hol,i,M In thn
sthrt lila ijJrnrnptn bntwarn fItcir valuation nlI