The daily Argus. (Rock Island, Ill.) 1873-1877, 1875-10-19
The Chilly Argas.
The Liverpool London and Globe

y-~S~1$&S@e
Insurance Company of Liverpool, Eng
land reports So, 100000 assests-over
$iS,000,000, of which belongs to its life
department by act OF Parliament in no way
liable for its fire losses, is pushing desper-
atley for business regardless of rates,
though it processes loyalty to the National
Board.
1t is said change in its American
agencies is on the tapis, by which all of
the American securities will be withdrawn
from this country. the New York agency
only excepted. The character of over
S., 900, 200 of its claimed fire assets rests
upon the slender security Of the reports OF
local agents and trustees of the same
throughout the world, and much of its
stock assest is so far below par and nom
interest paying that prudence would strike
it out altogether.
Gen. Joseph E. Johnston, of Georgia,
through whom large Southern business
has been forwarded to the company. has
recently peremptorily withdrawn from
all responsibility as General Agent of the
company.
The company admits $204, 436,42l of
fire insurance in force in the United States,
the premium upon which being So, 635. $50
yet claiEis that its 80 per cent reinsurance
liability on gross premiums on one year
risks, and prorata on longer time, only
equal l,342 73l,S4, small portion over
| so per cent 1903, 397 AZ of premiums
is on risks having nearly or quite three
years to run-$i42, lS7 .64,on insurance
having over three years to run and $27,
O343 81 on perpetual risks. Whether the
Al - L.
liability in its United States business,is fol
those inter ested to dig out.
We also notice that while little over
1924, 900, 900 of its American risks, with
s., 635, $50, Sc. gross premiums, admittedly
requires Reinsurance fund of 81 342 73l ).
81, yet the total risks in force of $l,59l,
442, 375, the total premiums on which are
said to be only S., 1924, 1885, only require
reinsurance fund of $267S, 3l040.
1.-THE premiums on its American risk:
of $2O4.436, 42l, were So, $3.50, S5OS6, and
the reinsurance fund liability ST, 342 73l,
81, the correct figures, for its total insuI
ance in force of 81, 59l ,442.375, provided
all Of its risks average no longer than those
in its United States branch, would be abou
$40, 296, 045. instead of $5,624,l8 as re
ported; and its total reinsurance liability
about 5 10, 339, 028, instead OF $2.678, 3l6.4O
This company. secured justly world
wide reputation of credit responsibility il
its prompt payment Of its millions o
Chicago losses in 1871 but this meritoriou
act has since been fully appreciated ant
recprocated by the American publ,
through the business given to it and pre-
miums paid Including its Chicago ant
Boston losses OF 1871 and 1872, which wer
extraordinary and unprecedented, tt,
com pany paid, for American losses, $40, I22,
648. of which it has collected $3l $40, 443,
OS in premiums During 1874 its premium
receipts in the United States were So, 08l.
l25, 81, while its total losses were only 81,
1854, 565,S6,
This shows that the United States pub
lie owe it nothing, and the confidence
receives and claims should be based upo
a reliable foundation, capable of withstand
ing the most searching and critical ez
animation.
Inasmuch as nearly or quite $l9,000.00
of its advertised assets are the exciusiv
property of the life department. and niue
of its stock assets so far below par. as ar
!, not worthy of confidence; that millions {
its claimed assets are in the hands of agent
f and trustees with or without security, an
; that it has 81 ,59l ,442, 375 in amount {
risks in force, the annual premiums o
which it will seem according to its Amer
can statistics could not be less than $40
900, 900, and its fire reinsurance liabilit
over $40, 600, 900, instead Of only $2,67S
. 3l6.40 as reported, it becomes seriou
question for its customers and saving
banks holding its policies to conside
whether the company is solvent and entitle
to public confdence,-JOurnat Of Con
1nerce. ST. LOMiS.