, 1876-01-29

These mortgages aro Of various aHoe, from ono
to live ycars, but 1t ID safe to ostmate thor will
average shtoo searH. Thnso WHO have watchod
the motion OF real e5tatc values In this vicinity
aro aware Tint tho depreciation In prop
ersY IN throo yoars is equal to 80 per cent "a
m average. Thu loans were generally made On
tho bsAtH OF 60 ref cent valuation, though In
somo instances point was stretched on psr-
nonhl grounds to loan To tho limit o! 60 per cont.
What Ia troubling tho companies at tho proscnt
tIme tn to roallzo on theso mortgages u they
fall due. 1t IL matter Of pnblto record that
only ono out Of flyo ts paid pronpt1y,-and
threo out OF i've arc foroc.o5od. Very rarely tho
property brings tlo Amouns OF tncumbtance, and
compromises and sacrifices are Of daily occur.
mortgage on suburban property for &4O,000.
which brought at public sale only el2,o00. and
wns bought in by tho Company.
ExrEn1EscE or TUE KsisKEnpocKxh LIFE.
a uuis isnow pandiuH in Brooklyn whoretn the
Knlckorbockor t4fo-lnBuranco Company OF this
city il suaing ono Hus Nelson on ao indemnity
bond Arising from our1ous chaiu OF clrculn.
s.aucea. Two years ngo, Nelson's sou, George
rug. for Which ho paid ai5, ,0Do. To sbtasn tho
,nol,oy. he borrowed Of tile Knickarbockes Life
050,0vO OH tho Ba1no property. aud part Of tho
| 970.00o received Eelaase OF = mortgage for
| 1000 held by tho Company on sono Ulster
proporty,-that ls, for tho e70.000 he received
4G0, W. in cast. aud recotpt fur $4,000 which
he owed tho Company. Theu he perm AIDED LILA
father TO givo An indemnity bond for $4,000 to
standing that II lle paid tho bond tue Company
Waa to asASn to him the Utater County mortgage
but Oh they havo xnlonHad tho mortgage tley
! cannot do this, aud Nelson reiuses to pay tho
bond. Tho curtons pnrt OF II IL. that the Com-
pauy's own surveyor Appraised tho IIesTing prop
| orty aud reported 1t worth S100, ,010, whoreaa at
tho tt1no OF tho appraisal Nelson hold IIerrtng'
arresment to soil for $4,000. The waya Of
lifs companies aro pat finding out.
| HAoK-poon !NsUNAHCE. :;
There Ia m !mnouse amount Of fro-inRnrance
done in thta city through axents OF compaules
not posmsstu1 TO issue policies In this Hats. and
agants como to tho city every day, and, by gislt.
Ing tllo ofnccs OF leading brokers, nick IN large
lines which It La impossible to place horo. Tho
oueot il dsmorslizing IN tho extreme, for no.
risks. "a they aEo callpd. but also tho good mur-
cauto Eaks ut q shAdo less ehxn tho con-
panes ou this aide Of tho river, TAis is
not such an evil ~ formerly. Rasea arc 10
u'ty or any oshor city to .'cut" Nav York rates,
hut Btil II la considerable OF a nuisance still.
Every company whioh has over bean turned out
Ct New York On account OF Ia impaired capital
tho headquarters OF every notortoualy weak CON.
pauy IN tho la0d. Your ststor city (bt, Louis)
furoiBhes couple Of companies which cannut
enteE Now York. and aso gisl TO tAio tho sctllr-
collection OF weak insurance companies can ouly
10 founA iu cue other American c,ty,-Chicago.
NEW YWINpI.lna DODGE.
6ov9ral instances have latoy occurred whefslu
inAuranca agents haye been tho victims OF q
sh1ewd dodge. Il l. known nearly eyety com.
pany has travelling Inspectors who Wait agents
from tlsno to time supervising risks. ate,
Oftan these Inspectors are Ia tho habit
Of drawing drafts on tho homo oltcos
and gessipK agents 10 cash them. Some sharp
scouudtol has aysilea himself Of this plan to
effect . meat swtndlo. It hss been tried several
times lately,-tLo last Instance being at Winstod,
Doun. All agent al a New York company re-
ccived iottsr Quo day signed by tho Pfesldeul
Mr.-, Special Agent, would Wall tho plsos sd sa
e1an[no the Compauy's risks. Two days afte,
Mr. -- puts ~ IN appearance and Gala upon
The acent, handing him card bearing ha mama
axent received telegram from tho President 81