, 1876-01-29
Tho New York Colnmtsstonorship,
nnA Its Responsibility.
Great Prosperity Of Eastern Com
panies in 1875.
Low Rates in New York.-.Jarooy City
Competition.
Troubles Of Life Companies viii, Their
Real Estate Mortgages.
Insurance Journalism, Etc.

Srsetat Cor7ttponifnrt " Ths Chicago Iftb'tns.
Nxw YoRs, Jan. 26.-The Hon. O. ". Clap
r,a,l, Insurance Commissioner Of this 4tnao, laa
resigned. aud hla resignation will taxa effect On
rho 1st prox. 11e 10 a Republican In politics,
md an !uscsoating struggle Ia In progress to
accure tito position for aotno Democrat who will
10 acceptable to Tho Republican Sonntors, who
havc tho power 10 rs)sct or confirm the dov-
ernor'a nomination. lilo present deputy In tho
Office is a thoroughly competent potson to run
tho Office, and 1t Ia suggested that. as ho Is Of
tho Same political faith ~ tho outgoing official,
tho Senate will rofrse to ooutIrm any Democrat,
and titus leavo q Republican In tho Office. It In
ptaoo Of considerable responsibility, as tho
custodian Of the uoyesument funds and other
securities deposited by tho English COM
pauios iu accordance with tho laws Of
tho Btato. The amount Of such do
posts as present is something like
81, 25O, ,000, and II the INSURANCE. Commission
wcre dishonest she loss To sAo companies would
10 soyeso Quo, as it ia oxprossly stipulated
Tint tho State mail not DO iab1o for tlleir aato
keeping.
MADE MONEY LASr YEAR.
The annual statements Of tho various oonpA-
nica-fre aud lifo-hro bogtnnluR to mako tboir
appearance, and. notwithstanding the wall about
hard tirnoa and eovero losses, tho statements
show larger profita thnn for mary ycars past.
All tho leading companies gain largely In assots
aud they contradict tho assertion 30 oftau made
as MI cxcuso for charging high ratoo, that tho
companies cannot &tford TO issuo policies for
less. 6omo Of tho life companies show that in
spite Of tho depression in buslnoHs mud the hard
Llows whtcl, life-insu1auee Las received
by tho failures OF eevoral concerns
md tho acknowledgements Of others,
these companies hsvo proaporcd. The
old Mutual Life Of this city actually Issued over
5000 ne.o policies las. year. There Is, in fact,
direct contradiction III the whining OF tho
companies mud tlicit published statements.
Probably when tho statements are complied
every Company Puts It's hcst foot foremost In
order to Increase lilo valuo Of itH stock, but In
Bolictine risks they all talk poor to bolster up
tho high rates which arc charged everywhere,
excepting NoT York. whore
Low RATES PREVAIL.
Az compared with ono year ago, tua regular tariff
Of rates On ttre-siska In this city shows 1ollc-
tim Of 20 per cont, but this Is moro hsgatello
compared with the irregular reduction mado In
tue actual practice Of tho companies, who aimp!y
allow tho applicants to make ther own rates.
Tako tho United ssates bonded warehouses Of
this city for example, Tho warehouse Nos. Il to
A5 Vestry st1eoa ons Of tho boas in Now York.
but no Lettsr iii equal to ~ than tno
Chtcaeo Dock Compauy'a warehouses;. formerly
paid 6l cents Now, tho net rnto to the aesurod
is fraction under 40 cents, being Al, loss 10
Eor cent. Tho cLoice OF tic companies can bo
takon on this rink. 1t Is uaod for storing for-
eign dry goods iu original packages by Stewart,
Clatliu. aud other largo concorns Thoro arc
other private aud public warehouses Of tLo sAmo
c.ass which aro charged about tho aa1ua A1aount.
| L1FE COMPANIES TROUBLES.
The amount Of money Invested in mortgages
upotl Now York City property ID in,upuSo. a
fow itonB will sufljco to ehow this enormous sum
| thus hold. They Woro % follows ono year a2o !.