New-York tribune., 1875-02-22
FIRE AND MARINE INSURANCE.

REPORT or SUPERINTENDENT CHAPMAN ABOUT TIE
BUSINESS DONE AND CONDITION oP ThK CoMPA-
MES LAST YEAR-A REDUCTION OF RATES AND
GREATER PRoPITs-A NOTEWORTHY RECoMMEN-
DATION MADE by TIE SUPERINTENDENT.
The printed report of 0rlow w. Chapman,
OF the Insurance D1pir'm,nt Ia relation
to the condition of fire and marine insurance oompa
nies during the year 1874, was transmitted W inc o@o
Assembly on Feb. l5.
Tho superintendent states that the cpmphn'es DONG
business In ts State In 1874 had si6 5j 10 Of adat
ted assets an Of s935 %, 81 over the sun 10
ported the previous year
The liab.s OF these oompanics excepting scrip and
can't A. amounted t, sjsjJ2 2)i H. or s?452Gji 10 more
than In 1879 The Of tho companies during tho
year amounted to SsiGs Co. and the expenditures 10
sOs49li2s co. increase OF saso5s IS Ia income and
decrease Of 5SCs77 % IN expenditure compared
with the previous year. Tho entire number OF compa-
mes 70 epored December 23 or - more thal In
1919 The year had been exceptionally prosperous
one for the companies,
There had been numerous fires during the year. how
ever, and several where much valuable property was
DESTROYED fire at Oshkosh, Wis. In July. DESTROYED
property worth o. 100000 and Chicago the Same month
over t3ooOG0 worth OF property Fires In Cleveland.
wiliamsport and Richmond. during the y1ar. eacl
destroyed 100000 worth OF property. Table No.
OF the report shows the amount and char
acter Of tho assets OF tho fire and fire
marlue insurance companies OF tho United States
doing business this State The assets amount in gross
10 tll96e9746 c. The JOINT stock companies o. this
State return ss9s56 Of assets stock companies Of
other States sGo &C; NewYork mutual mpaDies.
S3ss 1857 ST. aud mutual companies OF othor States,
t5lsOCs a. Table No in the report gives the lilbl-
ties OF the companies Excepting scrip and capital.
they amount to 49, NewYOrk st,ck companies
report Hi.s2o.259 20; other State stock companies
t2i0ls7sT 2s NewYork mutual companies s25Sl22 g.;
thar 81,
whole amount OF scrip liabilities was ts3634I o. and
OF capital $50 052loo Tae marine insurance companies
had an excess OF Income expenditures OF si95.-
ssI a. Table No IL shows tho business dono by oil the
companies which made returns to the department with
the assosts premiums charged ratios OF net assets
to risks In force and ratio Of charged to risks
written From this table It appears tnst the 2aa com
panes possessed of t53 Gil 81 OF net asssts st the
end 1873 covering s631396 O0S OF risks at an
average Of 81 3 for t0J insured aud that dur
ing the year. receipt OF ssl93S4 81 In gross pre-
miums they undertook to carry 81 83j5S6I OF risks at
an average rate OF sl IS for every 800 insured
The Superintendent theu nakes the following recon-
maadst'on:
If law could DO devised which won'd certainly ana
absolutely mako for the interest OF every Insured per
anOther long step would be taken IN the right drec-
tion Now, although ii would not perhaps Dc possible
try alike, may IL be otherwise TO cities alone, 10
which no fire can ever occur wthout threatening gen
law whioa would tend TO prevent careless or wnliu
fires in cities would cOunterbiiance much injury re-
ceiyed In consequence thereof by few. With this
proposition kept constantly In mind lot tho Legislature
Apne the following suggestions: Would IL DO wise 10
euaE law which shall provide that no person
upon whose premises a hre originated. III sucn
premises in city, sh8 receive more than one-hat
OF tho value OF his istraUce. provided any other con-
tignous building hal be burned by reason or sch nref
adopted ignored without careful consideration Tor
the evil sought to be remedied Is confessedy enor.
nous, aarmingiy 40 that very radical measures nave
been proposed 10 alleviate or prevent IL. On tno one
hand has been urged that all policies should be so
the insured than twOthirds or threeourths or
the value OF the property consumed On tho other IL
should compelled 10 pay the full face or the policy,
regardless OF he value OF the property DESTROYED II
maioualy tend to prevent sweeping cohnigrdlions.n
starts with very much in its favor The merit OF me
proposition " 1t has any, IS its direct tendency to make
each insured person IN city careful ana wacniu oVer
his own premises. II every man who Ia medi-
tating ire for profit conld made TO feel that he
woud obtain only onchaf Of his insurance. provided
any other person should DO injured by that hre surely
needs gument 10 show that thereby @i-lnnrted
arson woul DO less attractive and the chances Of its
helng madr caiufuI more diGicnt Ifit be urged
that this plan might work harshly In case or purely
accidental lire. 1t Is promptly admitted But lee DO
barshpess and lac is the whose premises tho fro
orignstcs-and not ihen even, unless no permits it TO
thing is cortain Insured every where aud tho un
injured within cities need protection NOS yet
to them. Can they have 1t under this propos
tion3 II they cannot what ID the plan that VIII fur
nisb it, . II Is believed that the insurance
law should DO amended as TO prohibit the admission
Of any company to this state possessed OF less than st
leas tOo OF capital actually paid up In cash ana I'M
i'm paired The law IL stands refuses admission 10
companies with less capital than ms 10 tns oonnes o
rest State well these two counties. n IL is
projections and II not why not give TO these counties
Insurance capital. the benefit of such admi'sionf
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