New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-09-26


so situated present that before responsible companies
would dare TO continue doing business there must DC
fhe UNIVERSE because t has Winds continually passing
H. and the prevailing wndward side .ne.e s n
several square miles mostly OF wooden buildings az
fore II needed extraordinary protection 10 JUSTLY nv
companies in remaining In IT, while the popular Gh.
OF Institutions taking the unusual risks when oeesso
presented could only be removed by making Il sa,er
city than any other In the country; the t
OF The ockhoders of insurance companies was 30 eoa'
that unless they could be assured that IL was better pro-
vided than New-York Boston In its fre eenn1
its water pipes its fire walls and iron shutters, is
other means OF protection against fire. tho companies
could not possibly continue business relations THAR
The Hanover Insurance Company announcer s ,,
intention OF suspending an business WIN o., me
Oct l. in accordance with the ~ ho clty was
concerned they had already refused 10 take any as
The object OF the action OF the on pont smch
measures as would render the city ,ha,r cant
present companies nd Se with
drawal was an actual business necessity ~ Was h
from the best information W. b ny COMPANIES com
posing the National Board would act III 20, The
recommendation eonaned nnose said one of the
Officers OF this Company that when TINS iaci IN he
S & co in and do ali the business they can get
but merchants will undoubtedly LOOK wen .V
t II "a NOT likely that there is much capital In inc
West that will veDtured In Chlcago, wnen ~ =, 10
mined Inv the fire. and the Andes and the Triumph OF
st. LOUIS suffered by the same event. oo 4,
An officer OF the Atlantic Insurance Company gave ~
s his opnion that the position assumed by the Execu-
tive Committee of the Board would be very generally
sustained by the members OF the National Board III
was 10 the interest OF the stockholders OF the companies
that the action Of the Committee should be sustained
The result would be seriously interfere with the mer-
camille business OF Chicago because when merchants
here found that responsible companies refused 70 insure
in that city, they would not be willing TO supply dealers
The secretary Of the Citizens Fire Company
said that the action OF the Committee OF the National
Board had not taken without due consideration
Some such action would have been recommended even
II Chicago had not been inflicted with another great
fire I'm July last. committee representing the primer
pal insurance companies had been sent 10 Chicago TO
report upon the condition Of the city, and the second
great fire. which occurred after their report had been
rendered. only confirmed the conclusions OF the Com
mttee the effect that the risks TO be run
were too great The object OF the Executive Committee
the Board was not to make any unreasonable REQUIRE
ment Chicago but simply to insist upon such security
as would enable the insurance companies TO DO business
there There was no doubt that all the leading oopa
MES i'm the country would withdraw from Chicago until
they had that by rskng their captal IN
Chicago property they were not possibly SINKING s C a.
zen's Company TO the effect that the Engsn ana
other foreign companies represented In this country
would unite with the American companies In the posi-
| ton they assumed with reference 10 chicago.
q The officers OF the Lamar Fire insurance company
were m consultation yesterday when THE TRIBUNE re-
porter called Their surveyor had just returned from
Chicago and was making verbal report ne s dami
TO comply with all proper demands; they were pnttng
larger pipes ana tS 10
able time special cause or complaint would exist 80
far as e66s the oer Of the Company were
| undecided to how they would act Ihey salu that
1
they would be governed by circumstances adding how
ever that since the July last they had withdrawn
much OF their business from Chicago, and what little
thew had done had been under special restrictions.
VIM H. Ross, agent of the Queen Fire Insurance Com
tai Of two millions sterling said that he believed that all
the foreign companies as well as his own wOud Wltn
draw both because they were ger o ce ad b
IL the interest OF all the companies 10 40
National Boar represented from 50 TO IS per of all
the insurance capital home and foreign DONG business
In United States and he had no doubt that tha pro-
portion OF the capital would refuse 10 do any more BUSH
ness in Chicago after October. o !,
The Farragut Fire Insurance Company does not be-
long to National Board The officers thought that
the Board had been too hasty In It's action though they
Chicago property They already had some risks there;
should not withdraw, and would continue to receive
MES would generally give up business there There
plenty Of companies who would stn aecept risks
A are not SonS Of
the Boagd Inc and that their re
0uiremens entirely in the interest OF the stock
holders and for their own protection. They should fol-
low the advice Of the Board and write nothing in
Chicago. Whether they would resume II me require
They had already Cancelled a number of policies one
effect would probably be the formation OF many ire
sponsibe companies, who would endeavor 10 take the
place OF the Withdrawing companies.
At the office OF the Niagara Fire Insurance Company
It was said that the Company members of the Board,
would withdraw from Chicago with the Others.
The Lancashire Insurance Company OF Manchester,
England, is Board Company. The manager said that
he had written the matter to the home office, but
should act with the other companies In with
the recommendation OF the Board. They could not
afford to stay In Chicago and be ruined every year
They already virtually stopped business there not
having taken risks for two months. lie Thought all
the English companies would do the same. His idea
was that that the November elections we're about
taking place this action would stir the people OF chicago
TO secure better managers OF their government lnde-
pendent and perhaps irresponsible companies would
didn't think the Chicago people would have much 10 DO
with them. His Company would probably resume busi-
The Guardian Fire Insurance Company members OF
the Doaru nau "a ana ~, ths,r minds tbat bysineS,
there Se uSproa5 they thought the action Of the
orally adhere TO it, What few risks they had would
not be renewed though they would be willing to resume
II the requirements were satisfactorily met
AT the offices of the Adriatic and German American
Companies the officers reticent as to the action OF
their companies stating that they were not yet ready to
The president of the Phoenix Fire and Marine Insu
rance Company SAID that that Company would with
would cease doing business IN Chicago. His opinion
they had got to do something TO enable the companies
TO say there; reoreanize the Fire Department for
ample They must depend upon Eastern companies Tor
their insurance they had money 10 spare to Or
ganze companies themselves. Unquestionaoly It would
be great opportunity for irresponsible corporaons "
Al the office OF the tna Insurance Company of Hart
ford II was stated that that Company would certainly
Withdraw from Chicago business with the Others.
The Royal Insurance Company Of Liverpool had aeen-
only to the home office Consequently the agent here
could not tell what action the Company would take
The opinion among outside companies was that would
1 comply with the recommendation OF the Board
| The Hope Fire Insurance Company are not members
of the Board and long since gave business In Chicago
as Improbable. The officers thought II very foolish for
any company TO take risks there unless the city was
\ better protected.
| The Firemen's Fund Insurance Company have not
insured In Chicago for some time and have Cancelled
| tbree-fourths OF their policies there They not
members the Board and do not intend TO be governed
by its action However they did not wlsh 10 do any
| thing under the present circumstances.
| The Pacific Fire Insurance Company, though not
members the Board, will probably follow the example
| Of no oil
| ness in Chicago -
At the Office OF the lafayette Fire Insurance Com.
many one of the officers stated that they still continued
| 10 write lines" IN Chicago. The matter would be
brought before the directors for their decision The
/ mi iooin