, 1874-09-23


The action of tho Common Council in 60
promptly passing tho new tlro ordinance laHt
Monday orcning has mado very good impros-
sion among the insurance companies. They now
hellevo tllas tie Council viii substantially COM
ply with tho demands Of tho National
Doard and that thoro will DO no ne-
ccssity for ttoir withdrawing. But, oven ghoula
they withdraw, tho nlastor would not be hall aB
serious for the city as was anticipated. A num-
bor of companies which now belong to tho M
tonal Board will not leave tho city OIL any con-
sidoratio,, aud wil soycr tlleir connection with
tho Board il an order Tor Withdrawal should Do
given. DeHitlcst there arc number Of companies
doing business hero whlah belong neithcr to tho
local nor to tho National Board. These compa--
uies have continued to NIllorwritc all nlong Mt
tho old rates. Consequently they have rap1dly
boon filling up their liuos aud doing All iuncnso
business. 1t ia true, however, TINT the run on
tloao outside conl3aniea haH caused thon to liz!
up tllor lines to such extout that in caso Of d
rory large conAagratoil, they would hardly ho
ablo to pay all their lossoss.
Tho disposition among tho Board companies,
AZ stated before III to stay lioro and reduce their
rntcB again to the old Htaadnrd. Tho new rntea
pay them, and prsfor to insure elsewhere. But
very little blisinosB Inns boon dono by tho Board
conpauies during tho laht month, Md tlny
might just iii vol withdraw entirely Us to Insist
upon Inc new bcuelHlt Ol EH1EH.
Quo Of tho largest Eastern companies
Phoenix of Inrtfortl--has decided to tlnderwrito
agnin, and alter this will tako good risks ut tho
rogniar Doald rates. Thoro is hardly q doubt
that most OF tho othor companies that iuvo
withdrawn will alHo 10 back Gro long. Aud tlore
is no reason why those companies should not
como back md do business 1ierc rs thoy do
elsewhere. It is conceded TINT tho buailcss
portion Of our city ia as ira-proof rs any othor in
tho country, md tho wator.rnlns aro rapidly
r1rlNrinr with 1Nrpar t1bR II nrf1nhEC1
il properly ouforee1, will stop tho erection Of my
moro wooden buildings. and Tho Board Of Unlor~
writer's IL now moving to lnhyo tho Common
oounoil nasg now Ealng law' They hnvo
committee 10 frame SUCH \ law, md this com.
,pttteo llnA employed Architects Da,l1,lan and
Castor to assiat them. II this city, with al theso
improvements, IL not Aafo place Tor insurance
compnuies 10 do h,laluoAs in, than philnaeipllia
IL no safer. lato pnpor ii TINT city contains
tho following notice:
No rain has fallen at near Philadelphia since Ar.
2 Ye drought lag . cs';se scarcity IF f.. wntsr IL TO
parl1ncut haa tasuc circular roqlnsing esonohy tn
Tho urt Of eit.xons III ths uao Of waes: Tas rabla
for water-cara to sprinkle streua have boon revoked
Ito re-plngB to ba opened except In case o iire
In spite OF this thoro IL not a Single inaurance
company in thta country w''e haa oyer o,st
u uot 4 safo city in whul to do business.
AIscEsLANEous.
The National Insurance Company OF Ph1lado!'
nhia, n,Ml tho UitizenB' IusllrnMco COMPANY
os Owigsburg, r., hnYo failed. Tug Naffagaa',
aett Eiro and Mariuo Insurance OompAny o.
Providence. II. l., suspended lust Saturday and
reinAured itH riHkH. ,
Nlr. Edward i. Smith, Secretary, mud 7, e.
Marsh, a meulbor Of tin Executive COMMITTEE
OF tho Duifu!o Firo and Marine ltslranco Com"
pany, arc in tic city for tho purroao Of looking
oyer tho ground With ylew OF Establishing a.
NEcncY hero.