, 1876-10-21

" might Be takan frp,n either Company safely
for the sntnc Asnnnt ,tpos, property In thta clty
ut the ug0rcuatc Of ts policies rcaarllcss Of tic
lnraltot, ot risks, an1 e'ys VIZ wilt tnkG no more
Tho Equitable Company rofcrs Ia borrowers
frat to The llnntyer, second thn American. thtrl
to the Afnntnnls fourth to The Long island, uua
then to It's other Insurance tennnft, anI Insists
that they shall have a preference. The other
Companies tnYc their own brokers, md turn the
insurance upon MoTtgagc property over to
them. There is Iayu1itlesn everywhere and no.
rhcre moro marked than III tho disposition Of
large blocks OF tnsura,1cc.
rAvoAiTEs OF RluH CORPORATIONS.
'rke rich raitwny, steamboat, anl n1auutAc-
turing corporations Of this scrtion Of tho ooun-
t1y, which carry large lines VI insurance, have
act very nnidstiy In tlls tna,ter. Not long ngo
the President Of Que Of the wealthicr railways
caused Its Treasurer to soltcit proposals from
various partics for ins,lr!ng certain property
|, was q big thing, a'nl tho premium was. over
louRiy low bEt1,-hy lar the lowest oTcr, and set
could nut yet the risk. It turned out aitcrwArtl
that tho aforesaid President had simply obtain
cd tho figures SO he could say to his own fayor
tsre." @ Another rici, corporation gavo com.
troll Of lis insurance TO- n near relative Of thu
President, md It was demonstrated by otc 81
thu Directors TINT the coprcfn wae paying 5s,5o0
per year more l'y employing ts man than II tt
companies which control Immense lines through
relations With Directors nnl EtOckhulleEs. St1cli
n c1.Ac il that Of tho tsarneT 4 Co. INSURANCE.
This firm llaa MT insurance Of neAFIy live mill
Ions pen ra,lP; s a'' M ~. wsTsiouse, fhc
surante Company. of which tho latt WI. Garner
Was Director.
THICK ON THE DELAWARE HUDSON CANAL
COMPANY.
For many wears tho Insurance risks Of tho
ns,u,xnrn & Tft1lsnu {upn( TnmNanv hntt h1nu
by wcil.known firm there. These risks
were scattered ali over [ennsylyanLa, mud
wien tllr Company leased lho railroati
Rcnnsr1aer & saratoga, and Rutland d Troy
Roads, their fnsuranr1 extended tnto Now York
and Vermont. It was still controlled BY the
Wtlkcsbarrc firm in spito Of tic repeated efforts
ot a,9s Sew York Cs s9npanies, ,9 nroksri
tller0 was fierce competition for tho FISK, nt.l
tho most tempting offern Df rates werr mat}c,
but oil in rain. Tho Pcllnsy1vania chaps still
CONTINUED to handle 1t, and cvon obtuinetl tho
cr, 10" oTns by es the same gtrtlcma s.ho control.
led the dcstfnfca Of TIC Delaware d Hudson
Cannl. Fina}ty. Inst summer. 1t ,Saa suggested
ono day to tho Director Of Tho Company that
they were foolish TO Insure their property, and
him showing how much 1t had cost tho CoEnpa..
ny to insure for fire rcurs, and how much wollt
have been eayctl by tho Company taling Us owll
risk. The Director caught ut lilo idea ut once,
nnd ut the next meeting III the Doartl had 0 spc
cai committee aprMtntetl to consider the 1,les.
tion of insurance. This Committee were l,lfett
with arguments hy PARTIES unfr|cndlr to tho
Wilkesbarrc tifns, and the result VAS tho Dc1a-
wasp,N Hudson CaHal Company now does It's
crs and other property dteinrd specially laEapl-
oue. Their premiums arc VOW about 81 900 per
rcar aguinst nearly sc, ,0O0 In former years.
1sC1iEAsfNn LOSSES.
Tn . measure the permanency Of tllc National
Ing freed from severn losses. \ conIln-
r. In New York and The recent
rilnlagratEon in Louisville docs not affect auy
nrnte risks arc SO we'll scattered tlsat no single
company loses largely. stlll It II To i'c nUte'l
Tint tho aggregate l0sscs Of all the companies
ura In oxecss Of those Of last year, willie the rc.
ccipts, owing to tho reduction IN rates, hare w.
mlnishcd llle 1osses hare poured IN tlackfy
upon tho companies recently, aud would tn
t]pubtcdly produce IN impression upoll rltca
wcrG It not for tic fact that there arH 80 many
local companies here which do no nEc1cy hslsi-
ness that they are unaffected by largo t!rs out
ytlEr, Cleveland, Cinyiunatf, AID Chicago all aru
consumed. Their losses orc next 10 nuthiug,
and they 20 OIL laltgtingly ut low rates. milking
fun OF their less fortunate nctEhbors. There Ia
II HNulcEulU NEEilN AAuHtz %HE h3H'4lIaulCa
lest the next three months afall scorrh them
seriously In 1rc loB6c5.
GONE TO ENGLAND ron 4 COMPANY.
There arc very low agents nud officers Of COM
panics doing business here who hare not been ut
su,no period Affected by desire to represent an
English cdnpany's American interests. Many
OF them hayo gono 10 tho expense Of Journeys 10
England, and The number who now relate their
experiences Of how near they came to succeas IL
not email. just now. tho object Of interest to
{e Tho nf fhb u f1nt1~
lam III London recently n1adn yacunt hy the
death Of S1r. Carter, the former Resident ! gent.
There IN Il general wleh among HlcInbcrs nj
the irater,ity that tle ce,npany my put tuto
foru hy promoting the Acting Agent, Mr..
Mosed Smith, to tho real mat1agetshp. Be this
as 1t nlny, It Ia 11ndcratooa there arc two we'll
known New York Insurance. mcn, who secretly
lott Nov York about three wcelss ago TO farthur
their applications IN person. and with aotno en-
courngcMcnt to believe tlut, II unsuccessful IN
securing the Guardtat,, they may ut lcnst hope
to ohtatn the representation of another English
rnnEE-rran ArncHAsD.sE RISES.
Prior to the Boston fro II wus very common
thing to issue tire-noliclcs OIL merchandise for
three years, for Two or two and y hnlf als-
nual premiums. Iu 1}ostpn itself this rule
APPLIED tS all s,ssG: Ct risk; sGS and
Of tile bascr soH Of specials, were frequently In
s,,rcd upon this basis for three years BY tie very
best companies, 1t was, IN abort, j Boston
notion, which iu time was initiated III Now York,
and n,easnrab!v 30 In other cities. After the
great fire At tho Hub, this three-yea rule fnr
lnerci,andiae risks WIS aunnsloued. but roccnlly
It has begun to spring up ugaln. EuEliatl COM
1,anles are takns, threc-y ycar risks an the prou-
iuent stocks ut two md i hull times tho annunl
premium, aud It will not be long ere the large
American companies follow them. There Is u
National Board rule on tlls subject, hut The
companies manage to R!oW around It by taking
the risks on basis not prohibited.
ANEGD0fR or 4 POPULAR HkokEA.
Thc kind Of tralnEng requisite for successful
fre-ns,sralcU ngent Or broker Ii one Of this
prohlenls Of tho business. Therc seems 10 bo
kind OF tradition handed down that wheu man
las tried and failed III other avocations, hu may
surcccd In insurance, but this fallacy las rust
many ncophyte pales ot pa'n tnnuncrablr.
Que Of the prerequisites ~ undoubtedly tn u,,-
limited " check" and this recalls I'LL a,ers!otc
Of ouu Of the snost suecrssful aud popular brols-
ers on tue street. Twenty years ago tlc was \
blfl-eollartnr unl n more severe md asst1uo,,s
"hu,,ucr " neyer lived. lie wins especially
uotcl fur tts s!crrtB In collecting LIlls
Inn, TO-