The New York herald., 1874-10-03
CHICAGO INSURANCE.
No Evasion of the Agreement To Be
Tolerated-Thc Figures For and Against

The Companies Gaining New Strength
No Evasion of the Agreement To Be
Tolerated--The Figures For and Against
Chicago.
II the insurance problem at Chicago is to be
solved on the relative powers OF combativeness OF
the two antagonisms there is little doubt what
the final result viii be. The position OF the insur-
ance men is daily becoming stronger and the con-
ditlon of the Chicago merchants each day becomes
more critical. 1he former are daily receiving
new and formidable allies OF wealth, while
the property holders OF the headstrong city
find one prop after another knocked from under
them. Yesterday, in this city, the Williamsburg
City Fire Insurance Company announced to its
stockholders that 1t was about to close its agency
in Chicago This company is not member OF the
National Board OF Underwriters and is not gov
erned in any way by the action OF that organiza-
tlon; but its duty TO its STOCK and policy holders
seemed to have dictated the action. Its depart
ure with 100000 CT capital is another straw
showing Enthusiastically which way the wind blows.
NO UNDERGROUND WORK.
It has been asserted by some OF the agents nf
Non Board companies that the withdrawal from
Chicago was only a pretended withdrawal after
ELL and that while the oranch offices OF the various
companies might be closed, the institutions would
go on writing policies through brokers and real
was clearly seen TO be strict canard,
started by companies out OF the told or
tne Board 10 create distrust among the
CATION. A HERALD reporter yesterday visited
the olices OF every prominent company in the
city, as well az the rooms oil the Nar 0nal Board.
Tne unanimous opinion expressed was that the
writing of policies by anv company by such an un.
derground system could not be done secretly. Not
only would II be direct breach Of iath toward
the companies In rhe Board, aIter promise IN
writing TO Withdraw; and while there
which could be imposed, sucn an act
would be treated in the same manner as
any preach OF trust among business men. IL had
not been made obligatory upon any company to
Join the crusade against ChicagO but alter ~ had
sgni1ed its intention TO follow the ADVICE OF the
Board, there could not be much choice Of words TO
characterize It's action in writing policies in any
pubic or private manner This runor has, there
lore, little foundation IN iact
THE SITUATION.
The struggle between Chicago and the COM
panies STANDS mucn as " did on October /. The
situation, expressed In figures is ABOUT as fol.
lows
Assets OF English and American companies with.
drawn. SIP, 500 900
Assets OF American companies aone.. o2,6500 900
Board companies whose decision mas
not reached New York, including
the ROYAL OF London $4,000, 000.... 2l,Ooo 600
Assets from non-Board companies re-
naming. OBSERVATION-DISCLOSURES, 1921. 297
Total assets OF all companies at pres
ent uDheard IRON. .................. $40, g26 sos
This Is certainly very formidable array OF
figures IN favor OF the companies and their posi-
ton Is daily becoming stronger The whole Gues-
ton now turns upon the action OF Chicago ana ne
people.