, 1874-09-25

Ilits city wan moro tlro.1,roo now than oyor
ma u short time would bo tho bost city Ia tlt
country country to Insure III. Tho editorial romnrks Ii
wo!l PIT. Il waa an dsa:ard1y blow vat II tht
hnslnona intorcus Of ihla city. Tho job
blng trado Ut 'Nov Yorl; was rapidly
coming hore,.. and l1e Followed TIM!
thia noso i ns ;,0 ea ap1 Of % drvins s iambersr
o!lanth out IF tho city was porfout1y ridiculous
me lumber trad0 was:ono uf our mnin branches ol
nn.a'Iieaa, ana could 70: 10 driven away without
1n3,,r1n alt our VITAL tntogosts Thoy might ius'
.iouRen wl!cl, Inbound in tho heart Of tho CITY OF
Now York ho removed ouisido Of tho city limits
C!llG2f5o merchants would ho kblo 10 purchase
MI tho goods they wantei wiluther tho insurance
companies Withdrew or not, Ito did not boeyo
tint tho ssnctholdors Of sho Natonal Doard
eonpanioB would submit to tho actiott OF Tic
oiticnrH Of thc8o CONFORMS. NJ 1t wnH tllo!r inter-
ost to ksop on doing business III tIlls city.
Tho EastoTn companica must not expect TINT
Chicago could do ~ much III two months uB Now
York had accomplished ii, M 1nany ycurs Our
now 1fo ordinance waH rs good ns TINT Of any
city, and Tatot-1natnu wero rapidly put dowi,
eyorSwhero. llo colncifcd with tho idoa Of tho
tho Atrooto nna IT would certanly bo prohibited
lleroaftor. Flro.traps would no longer be nl-
loGa o. TO % Pr n. md atanppea wsTo putting
iho IRE tlrs-@as % hnd ncol, raisod Oh most buildings
and nothing had bean loft untloao by
tho merchants OF this city to mnko
their property as scenro NJ thnt in my ot9or city
u u tllis country. In tho business blocks On
thoy wore employing private watchmsn, who Ind
to go around tho buildings overy [ftcon nint,tns
aiil, besldcs. thoy had watchlnei, on tho insiio'
l,.a II, hls building they a hesidea such vatch
neod: Thoy Ind four Dabcocka in tho bpilJiue. ..
NUT four pnfla OF water on cact, floor. ThoSyg
could get llp steam ii, twenty minutes and atort
tho elevator, for tho purpose of carrylng IN
water Or saving goods, Il wns contemplated BY
ssoa1n-atlgino to. draw watcr III caBo of
fro from tho standing main III tho street, With
all those prccnutlous they wcre charged by tho
insurance companies $780, wllilo similar pron-
crty In other cities could easiy bo Insured for rs
coutB.
MIR J, ". poAxE,
proprietor Of tho Donno Doc1,, corner Of W.
bnsh ayonue and Lnko atroet, sRid that tic In
p1rance companies woro undoubtedly making
Ers"t nlstako. The city waa nnfer now tlan Il
This was demonstrated by tho Arc Of July Il,
Wien 1t was stepped Us soon ng it ronchcd tho
new portion. Hereafter In would carry half tho
insurance on his property himself. Even IT tho
companies remained ho would not submit
woro HOW making. Thoro wns hut
littlo danger to Ills property. A watchmnn was
going through tho building three timcs night,
aud each tinlo hnd to turn tho watch-clock,
q stcain-pump connected with the atoam-ongino
in ha building, and everything WAS us accura as
It could possibly be made. 1Io wns now charged
30 per cent cxtrn because 1,e Ind no iroa SHUT
tors on that nttlc Of LIS building fronting tho
alley next to Randolph, though tI1oro was not \
building within 800 fcok OF It. On tho rear OF
tho building, where other structures wero ncar
by, Lie had giyon instructions to hayo thom put
OH.
Tn his opinion .oycry company that Withdrew
would ba bnck again In d HEiurt tfnlo, bccomjng
Of tho stupidity Of their action, Thoro
Wns no better city in tho country for insurance
companies to mike money in, and tho .teinnta-
ton to mako money would forco them back again.
This waa a splendid opportunity to start local
basis liz. would invest heavily. Hc believed fbo
companies hnd made moro money i'll Chicago since
l871 than III my Other city, not excepting
their lossos by tho fro Of July II. This action
BY tho Executive Committee Of tho National
there would 10 enough companies loft for ali
necessary purposes, and with tho prccautions
already taken, ho could 500 no reason why wo
could not got ~ much credit ns ever beforo. Be-
|oro tho insurance now hold naturod, tho re-
[ractory companies would undoubtedly be all
3ack again. 10 could not possibly bo1loyo that
heso companies iutondo1 to stay away, as by
osing our premiums they lost large nhnro Of
.hpF income.
LOAN AGENTS, COMMISSION HEN,
ETC.
JOHN a. TYN1ELI.
II tho firm Of Wright t. Tyrtoll, expressed him.
'o}f as folowB:
Noporter-Afr. Tyrrcll, vlat do you think of
lie actlon OF tho National Board Of Underwriters
10 set forth in this mornings TRIBUNE?
Mr. Tyrrcll-1t is q ba4l thing. think It will
nako ltt!e disturbance Of business but tho
will not run from tho fold on masso.
fcw may; depart, but thoy will drift bach. I
'annot soc any necoasity for tho withdrawal, If |
le City Council and tho ciLizcus live up to tho
ire ordinance,
Roporter- What will tho itnmodIate effect Of
ho withdrawal DO upon businosa?
Mr. Tyrrell-Woll I eau speak for tho loup
'usiuoss, und Hny that it will bo worry damaging.
LOANS noU pending will romain 'unnosotiehIo |
Until tho mnttcr il definitely settled. Mouoy
annot boraiscd upon property unaccurol against |
osB by fro.
1soportor-What sa you think OF syssem Of
mutual insurance on tho pnrt of our b1eiucas
non
Mr. Tyrfoll-I do not think the systom would
rorls well. 4 throc-nillion Chicago insurance.
ompany doing business elsowhcro 10 vol as
ore, would supply the placo OF host OF tho |
opartius companies. Such o company could DO |
OF up loro in D very short time, and, wlen ouco |
u full operation, it Mould provo tower Of
trongth to tito city.
az correct idea OF Chicago and tue attempts
he is making to ronlor herself ncombustiblo
mr.. Tyrroil-No; and that is Just where tho
t,jr faC fs,1tro Fac