New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-01-15

house In which the banks are ASDciatcd FOR tl
1874 reached the OF - 226 s32 247 50
This is not the occasion for history Of banking IN this
city or n eulogy OF the banking laws of this state
which this difficult business was carried for many
years with safety ana Nor Is there
account OF its vicssitudes and trials IN al financial
disasters the banks " this city have borne themselves
with credit aud courage. Whatever opinions may loo
entertained OF the wisdom Of their policy occasions OF
grave emergency " cannot he denied that they nave
always kept ia view the best interests not only O their
stockholders but of The community AZ large By common
consent the financial of the country New-york
has always led tue wav 10 resn> ZION when Suspension
OF specie pay nent became ineN cable Such the
in lsI7 in 1899, in 1857 In 1861 the scheme here
devised which associated the banks OF the four great
commercial cities in support OF the Government. aud
enabled tbeL to make TO IL the colossal loan Of
SlJO0O0,0OO in coin. Ii may be truly sd Of the New
country specie basis and to avert the calamities
which have fallen upon rom ISSUES paper
may be applied with perfect itness' Facs estdesc1lsus
Ae7hi, sod reeoeare g1adua, HE Labor hoe opus est;
CITY OF NewYoIk, incorporated on the 26th Of March,
1919. Its plan die ylse IN the rooms OF this Society
many of its most useful and thriving institutions. and
Thomas Eddy The deposits from the 81 Of July to the
378 from j27 depostors on tie 3isr OF Dcceui-
ber 1874. there were ~ savings banks IN ihis city, hold
inS 7lSO,OIO,1OJ from iJl,V56 deposlf0rs.
INSURANCE COMPANIES.
Insurance companies associations OF individuals for
the purpose OF Insurance under the cement OF
chosen board OF officers OF comparatively modern
growth. The old fashion was different Then any per
inclined to underwrte risks made their undertaking
at some public place where the policies upon which in
desired shown, and kept books OF their
own in which their liabilities upon such policies were
entered In tine middle OF the last century the "Oh In
ONCE" called in 1859. kept at the
Coffee House where the clerks OF the Office, krtcls and
Sharpe attended every day from II till in the day and
to : in tie evening. rival Office, the New-YorA
Insurance Office, with Anthony Van Dam for Clerk
established the year, and permanent Office taken
next door 10 tine Coffee House. This the Office
patOn2eI by the Walt0ns Cigrs Jaunceys. and OtI"r
city capitalists. In 1775 when the destruction of
sells and conveys ny the adventurous American prf-
valeers had greatly enhanced the fisk OF navigation.
the New Insurance Onire" was opened at The Coffee
House. Tho mode in which this business done il
shown by announcement of Cunningham & Warirop.
Insurance Brokers. who advertised in l773 that they
had opened Public Insurance oinc'' where policies
are received and o1,r"d 10 the merchants and under
writer's generally. Each underwater subscribed hs
ing handbook Of the insumnccs OF william walton.
in sums ya.ylS from 400 % 800 is still preserved
All these Offices were for marine insurance TIE Blsi ma
rinc insurance company organized alter the the
United Insurance Company founded IN l793, or early ia
2jOO.OOp. The charter allowed fire rs well - marine
risks. The second the Ncw-Gork Insurance Com
with a capital % 100000 Tho first company which
confined itself wholly 10 sea risks was tne Marine IN
surdncu COMPANY, Wlich confinement business nov. ~
1~OI with capital OK -2JOOOJ To-day there ninc
marine Insurance companies with asset, reported Dee
The fr,t propos for insurance against fire seems TO
hive hcrn motion made IA me chamber ol commerce
by dr john I"Hrnan on me "a 0i APi, 80 Wheh he
moved NAT "u- il is The desire or number OF INC in
los, h ire aud that losses OF this sOrt may not l upon
iuliy.lu9l., the Ci4mbcr take into consideration -yno
plan tnat may serve 90 gn"i prrpUsr" The consider
alton the subject WA postponed ard 10 action taken
ON Feb. To- ISL notice APP cared in me h'~- l0F
TGrtci "Somr Gentlemen have now IN contemplation 10
form q COMPANY in,uung homes in mis- city against
ire. oUcn house, are insured VIII De of course
received as security in The bank aud q further
attempt vas made by Mr.. John ID afeld in April.
80. establish ~ lre insurance Oicr,' nut thry do
not have been successful Ihe first hr" in7nr-
ancc cOuoauv organized by John PnNrd Eho be-
came it, crc.ar June II. 17~T undrr IN" name u
tc jutuJi Assurance Company. An net ut Incorporation
WAS Obtained March -, 1908. To-day there are ~ lFu
lusuanc. companies ~ the city, with assets reported
Dee. 81. I~Tt, At ritG96.~25 3.
The irst notice o. i" insurance company appears IN
an Get o Incorporation Of the Mechanics Lille Insurance
AMI Coal CIuudur On" p o. February, l-Z&, with
power 90 make Insurance upon lives or ~ any way
depending upon lives. 10 grant anHuitieS. ana tn 0p1
Hni o discover dhd work cos. beds Within l- stale
T0dIy there i'm the city ~ life insurance coinW-
MES It assets reported Dee. 81, lNIi, az III ~@ i3'
Ir,c ooiuinc, I->cI 1917 policies lat }ear Tor ti
sum of Ell 81 Sio. and hIi oufStmfuL ~ - clos"
% 49, alice. for the amount OF S2f9S i.@'7. re-
combination these Suns gives the amount oi capital
rupo,Dl in banking ami Insurance al r63o05-f"'
THu rrcU .trilaj!On j. ~ follows:
h l.itl-- l'f,'a'f'
.''' ~
40''V'f""
Toral....................... l.08j.joS
INSURANCE - ~ ~ -------t- tll'.,. -
If''--.----....--.. lIp.'l--!
fllr........--... l-t''l'Ht5 .-.-..-.,