, 1874-03-16

A meeting Of tho vessel-owners was held In
tho Chamber Of Commerce Saturday AFTERNOON,
for tho purpose Of receiving tho report OF tho
| Committee appointed ut fridays meoting to
draw up resolutions as basis Of instruction to
their delegate at Buffalo, in his action In tho
matter Of tho proposed now hull policy syatem
Of tho Board Of Trade Underwriters.
The chair was takeu BY Ir. D. Il. Holt, &nd
h1r. II. s. Halsted acted aa Secretary.
Aftc1 tho reading Of the mlnutsa, tho Secretary
read
90 THE FOLLOWING REPORT,
which was, Oil moliou, adopted:
ao changes In tho form Of policies to DO asued upon
huils, Which We aa vessc-owlers feel to bo not only
,1 but eppEesSSlse S therefore, ,,
tho ycSscl-owners hero assomo,ed TINT WI
should sako some measures to protest our
proy!Aions IN tho insurance policies would tend to
create, rontosing them practically unnsurabe, and
consequently Of ntle value ~ collateral security 70.
It necessary to cucumber them.
heso!ped, That we will send ono Of our number to
to convene IN Buffalo, our rcmonatrauces. aud uso
cur utmost endeavors to utssuade said Board from
hn tn IT, osa ei e. T 1S fS
rouse to accee to onr petition in this regard TINT
wo will uao cur united 1nfuonco to induce other IN.
suranco companies TO write mnrinc policies, and will
pledge ourselves to give ent!re patronage to such
reliablo companies outside tho Board as will issue
aach policca sa have becomo by usage tho standard
ruB for ma4iu8 r3sAs and will avoid tho companies
that have attempted to force upon u.s. aa We feo ths
great lnIuBtlcs.
We would ulao further represent to tho said Board
thas with the prospect that during tho present
frttBltA nro mD6t surely to 10 unreMunerattvc, and
vessu property so difficult to maintain, that nny
toriu1 advance III the rates OF insurance at tliR no
would work dsproportonatoly against tho vessel In
terest md In favor OF tho underwater, whereas
{es tAat Tie Insurance companies should, and that In
tho eHu 1t would be for tLeir Advantage, to puraEo
more liberal coura0 toward tho interest An help
to carry them through the depressing lMes rathor
Who have hazarod largo amounts Of capital In thia
branch OF hus!ncsa,
THOMAS HOOP, Chairman.
1HA IL. OWENS,
O.J. MAo1LL.
PROPOSED INSURANCE ASSOCIATION.
Tt was then, on motion Of Capt Keith, secoud-
cd by Willianl Doyle,
esoigtd, That III Of refusal by tho Executive
Beard Of Underwriters ct Buffalo to withdraw the OBJ
noxlous clauses in TIC proposed {new hull policy,
deiegao sa propose tho several cleEates The for
mutton Of Iusranco Association, oach delegnto to
advse On thu natee with hta constituouta and CON-
municate with each port represented, with ylew to
mutual cooperation.
After short discussion, it was moved by ".
Doyle, seconded by Mr. McGtll, and
Resolved, Tint doprecao ~ unjust and malicious
thu RESOLUTION adopted ut ths Convention Of National
undorwritora. aH follows: !" Tint no contract for
insurance Bha 10 Hade after tia Ato unraa subjook-
Cd to tle arN classification aud yalunuon for 1874
hereafter to ho published"
Tho meeting then adjourned until 2 D, m.
Monday, tho 23l inst, when the report Of the
delegate to Buffalo will bo received, aud action
takon thereon.