, 1874-03-08
Chicago Insurance Companies Ruined
by the Fire.
Condensed Statement Of Their Assets
and Liabilities.
What They Have Paid and What They
Hope to Pay.
A Word of Advice to Policy
Holders.

Notwithstanding that tho legal columns OF
TIE TRIBUNE have recorded, as they occurred.
the yar1ous and successive incidents IN tue
litigation consequent upon The going under OF
the local insurance companies after tho great
fire. the fact that there are still many parties
who arc ignorant Of their present status is al
most daily shown by letters addressed to this
paper asking for information regarding tho con-
dition Of the different bankrupt companies, tue
probability Of future dividends, etc. With
view Of saving the seekers after knowledge on
this subject future trouble, the following con-
dcused account Of the bankrupt companies as
they at present stand, with hints az to the
probable future action Of Assignees, is pub
Hshed. While there is in some quarters ex-
libited natural anxiety in Tho manner Of dlsl-
dends from these concerns in others there Is an
apathy of which some Of the AsEiSuecs COM
plain, one Of them stating that he Is much
exercised over tho hardness with which policy
holders laro called for their dividend. over
el5.O00 OF which remains in his hands subject to
their disposal
THE REPUBLIC.
The indebtedness Of this Company amounts to
about *430, 400. Before going into bankruptcy
the Republic paid 50 per cent of its entire in
debtedncss, and eince then it has paid two divl-
dends Of as per cent each, it's indebtedness at
tho tirne it went into Insolvency amounting to
abont S412.4D0. Tho available assets OF the
Com pany amount to about 4150,000, made up as
follows: Cash on hand, $40. 700; bilis receig-
nble. $40. GOO certificates OF Indebtedness dc
posited by shareholders, S6S, 400; cash accrued
for costs, $40, 500. The Assignee OF the Com
pany, NF. J. 4. Payson expects to declare q
dividend OF Is per cent more In Juue and in the
fall to clear of. with final dividend, the total
indebtedness Of the Company, with interest.
The Assignee Of tho Company keeps 1is Office
at No. 1G4 East Randolph street.
TIE GREAT WESTERN.
When the Company went into bankruptcy
there we're proven against it claims representing
over 500, 900. About $4,000 OF these were
objected to BY the Assignee, and in adjustment
eomewhat over SSU0,0o0 wera allowed by the
Register. No dividends have been paid by this
Company. tits difficult to determine the ynluo
Of tho assets at present in the hands Of the Com
pany. Among them 800 lots in H. l.. Stew
arts Subdivision, on The South Side of the CITY,
the title to which was secured by the Company
property at present before tue courts on ques-
ton Of title, and the balances duo from stock
holders. 4 description of 5he Stewart property
il ut present IN the hands Of real estate men to
as The Court orders and the condition
Of tho money market warrants it's safe it will be
disposed Of. The larger amount Of the assets Of
the Company consists of the balances due By
stockholders. Tho amount due hy them origl-
nalv was 500, 900. To recover this the Assignee,
G. n. Upton, has instituted q number OF suits
against the shareholders, and has recovered
Judgments in many instances,-some of which
arc good, but promise to be fought by the de-
PENDANTS, and many Of which are worthless.
The declaring OF 8 dividend By this Company is
question OF time. The litigation III proceeding,
and as coon as the 800 odd cases have been de-
cided. Judgment obtained tho " execution
proof shareholders found out, and the paving
ones made to diagorge, q dividend sheet will be
prepared but how long that will take those init
mate with the Companys affairs know not.
Still they hope that before very long they will be
able to declare dividend Of about 5 per cent.
The Office Of the Assignee is ut No. IS LaSale
street.
TIE EQUITABLE.
This Indebtedness Of this Company amounts to
over 81. 700, 00U. On this q dividend OF 5 pcr
cent has been paid, amounting to about S35, 600,
Of which only $6S, 600 las been applied for by
Company are sj18, 00O cash. and s10 800 in notes.
and large amount Of Indebtedness by share
holders. The settling Of the latter portion of
the assets is q matter rendered very difficult By
the total destruction in the great fire Of the
Company's books and the stocR-notes signed By
shareholders. To decide the Indebtedness Of
the latter will require their examination under
oath in a court Of equity. Mr. Long, the Az
signee expects within three months TO pay an
other dividend Of from Ito per cent. Tho
office Of tho Assignee is at No. ss Lasallo
street.
THE MUTUAL SECURITY.
Tue total indebtedness Of this Company is !
somewhat over 81. .suo.oo0. On this there hava !
been rcid two d1yidcnds-one Of per cent |
to about s130, ,000, ard another OF !
80 per cent, amounting to about SG5,00o. Tho |
assets Of the Company amount to over SI37,- |
6i9.90, Of which s57, 500, with interest, is in |
Judgment The sum OF the assets is made up as
follows: Capital-stock notes. s19, GOO; mortgage !
mon, Treasurer, s39, 600 and interest; reinsur-
ance, 10000; bills receivable, collected pre-
miuu,s, ETC., $500. The amount representing |
reinsurance is stated TO be nearly worthless Tho |
Assignee states that the Company will be able |
% pay another dividend Of from to
1pon the decision Of tho suits against J. :.
ns Treasurer Of the Company, and on
he latter's stock notcs. and upon that Of the
,uit against John Forsythe, who claims m offset
gainst some stock notes. Judgment has been
,btained by the Assignee iii these cases. but de-
cndanta have appealed to the United Statcs Su-
IRENE Court, which will probably not reach
ecis;on before next fall. The greater part of
he assets are in notes which have not yet ma
ured, and which could not be realized upon
7oftably in the present condition of the money
1arket-a fact which will chow that the delay III
lo declaration Of the dividend until better times
as q wise one. the Assignee of the Company
M1. lark Ki1nban whose Office is in Room 2,
/ the Honore Block, on Dearborn street.
STATE INSURANCE COMPANY.
The total indebtedness Of this Company is
79s. 900. 4 dividend Of 40 per cent has been
lid On s41S 600 Of its indebtedness. matter
S261 900 liability is in abeyauce in tho hands
the National Loan and Trust Company, whose
aim has not yet been proved in bankruptcy.
nc assets of the Company, including cash on
md s41 900, amount to about S1o0,0u3 consist
r Of mortgage loans in process OF foreclosure,
number of local accounts in process Of collec-
N, and small balance III notes. There ia no
ospect of further dividend until the litiGa-
i'll in the matter Of the s261, 600 before men-
3ned is ended. There IS some talk Of the
aking OF An assessment On the shareholders OF |
ON 10 to GO per cent on their capital stock, |
lich would foot up about S35O.000, with which, {
carried ont, tho Assignee would be ablo to
: the liabilities OF The Company in full. The :,
'signee of the Company is Mr. H. " Bishop, ] l
1886 Office is Room Is III the Republic Build L
s, No. 1853 LaSalle street. t
TILE COMMERCIAL. 4
What the amount Of Indebtedness Of this T.
npany amounts to has not yet been deter u
ned. Its state Of affairs since the fire has t
norally been considered SO unhealthy that 7
Se number OF it's creditors have not thought a
worth while to file claims. On this account, | :.