, 1874-08-23

r" Ns Editor IF The Chicago 1ribunE:
SIR: While there is = seeming quiet in the
! insurance news. and while everything appears
lovely, and in the minds Of some an idea the
late excisomeut il dying out and the insurance
companies will very soon be writing again as oi
old, aud everything will slide along smooth, ]
beg to inform you it is only calm before a
storm Of much greater magnitude
Tue Eastern insurance companies are, If pos
Bibie, becoming more nervous, and daily grow.
ing moro firm in tho belief there ID no money to
be made in Chicago and, while few Of tile
companies with limited experience and little
knowledge other than that picked up from books
aud papers, are doing what they think splendid
businosa in QUE city, tho "old reliablcs," who
have been in tho harness many years,
who have purchased thoir knowledge
Of tue business in paving losses, aud
have laid down thousands OF dollars
to receiving one dollar from the city and that
asda from tho fires OF 1871 al.d 1374-realizc the
justice Of suer demands made, that our Fire
Department should be reorganlzed; that water
pipes III greater number anu lArGer size should
be lald that frc-plugs arc needed; that many
Of our business buildings are built in q very un-
sale manner ~ any protection against sweepiug
fires; TINT there il a sad neglect on the pars Of
our city authorities. by reason OF which build
Jugs in the Very heart Of uur city can be almost
beyond control Of h.eueu before The tire il Dis
covered, aud, III short. tho total Indifference
shown By our citizens and authorities to tho
prospect Of another Oct. 9, T,-that they are
virtually closing their business in this city.
Agents say our companies have not Withdrawn,
but arc doing bus1uces az usual. That il true to
but y very amals extent, and IL only among the
smaller aneucies aud smaller claes OF companies
WING 60 it on the luck principle, and who, when
fires OF any great magnitude occur, create pieces
for receivers and ass1gnees to close up the buBi-
ness, dividing the Assets between courts, them
selves, aud poiicy-lolders. The companies that
stood up 70 no5ly in 1871 and paid dollar for
dollar, are the ones who now feel they are justi-
fled in the course taken, because at that time
they made suggestions Of Improvements that
could La made, the city WAS rebuilt sud but
few, If any, Of them were needed
TIC result OF ali this will be. that inside OF
pendent upon insurance capital, will be without
that indemnity afforded by sound, large, aud
conservative companies. Why is tile Council SO
ready to expend money for Courthouse,
something we can get along without until our
city il put in safe condition against sweeping
tires, aid one likely to destroy the structure when
completed? Why is 80 much money expended
in our parks and boulevards which can be allow
ed to rest until needed improvements are
made-unlosa it will seriously injure the suburb
al laud speculations-and those should be will
ing to rest easy while This il q subject worthy
OF reconsideration and one which, unless some actiou
is taken, and that soon, will seriously cripple our
trade and commerce /; as it insurance cannot be
obtained, merchants Of other places will not
send their wares to thus market, and our mor-
chants are not in condition to buy for cash aud
run their own risk. What is our Citizon Commit
tee doing, and what has become OF tue Board Of
Underwriters, who for a tilAs held dalIy meetings
and passed ;eso}utionsf **~
CHICAGO, Aug. q, 1874.