The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1877-11-15
from the Baltimore American. ]
ABSOLUTE INDEMNITY.
Sketch of the Liverpool and London nns
Globe Insurance Company.

WEODc N7hSNTtthCS OOuVHu
The best outgrowth and representative Of fire
| insurance in the world is the Liverpool and Lon
don and Globe Company. We make no invidious
distinction in giving to this corporation the first
place in this Important interest, for the record OF
the Liverpool and London and Globe is a tr-
umph of sound insurance principles.
The record of the Company is one OF unparalell-
ed honor and success. The nature and extent Of
its business have brought upon it severer tests
of fidelity than would be possible in any other
department of activity, yet it has failed to
discharge fully and literally all its obligations to
the public and it's conduct in this connection up
| on trying occasions has been characterized by
| distinguished honor and liberality.
| The greatest loss that has ever fallen upon 9ny
fire company was that which the Liverpool and
London and Globe experienced in the Chicago
fire of October 1871, the being $3,239o91. And
almost t. he first breath of hope that came to the
business men Of the stricken city was the cable
message assuring them that the Liverpool and
London and Globe would pay all its losses with
out the usual sixty days grace. This message
was accompanied by instructions to the Ameri-
can manager to draw on the home Office for the
money, and further contribute $40 600 to the Chi
cago relief fund. All this was done without dis
turbing the assets in the United States, which
We're then upwards of 3,5O0,0O0.
The Boston fire coming little more than year
later brought a loss to the Company of almost
$l,500,G00, and this sum was paid with equal
promptness, and also without disturbing the
American assets. which at that time had increas-
ed to upwards OF 81, 000.
These two incidents made the Liverpool and
London and Globe the most popular corporation
in the world and gave it a place in the esteem OF
American merchants and property owners that
had never been reached by any insurance compa-
ny.
The great fire in st. John, New Brunswick, last
June, furnished the Company an occasion to show
that the conduct which had made its name so il.
lustrous was to be perpetuated as its regular and
permanent business policy. 1t lost half million
Rat t:iyohn and instructed its representative at
that place by telegraph, to draw at sight on the
home Office for the full amount and to contribute
FIVE hundred pounds sterling to the relief fund.
The Liverpool and London and Globe has as
sets amounting to ss7,72o, 14O its surplus above all
liabilities being upaoars Of fue millions of dollars.
The Componys assets an the United States aggregate
49, 800 COO, aoh;Ie its surplus in this country is orer
81 100000.
The Insurance Commissioner OF Massachusetts
has published the result of protracted and
thorough examination of the assets of the Com
pany, made by him at the home office in Liver
pool. He declares them to be first Glass; and states
that It's investments are all made in the most pru
dent and conservative manner. This report is
valuable especially in reference to the ext raordi
nary precautions to secure the pledges made in
the Company's policies.
The shareholders indiuidunlly responsible for
all they acorth, and further, in the case Of
transfer of stock, the liability of shareholder
continues three years after the transfer is regis
tered. In short, the safeguards are strong, am
pie and complete.
The prosperity OF the Liverpool and London and
Globe Company during the past fifteen years has
been extraordinary In 1862 its assets were seven
millions of dollarS;a four times as great rep
resents its assets in 1871 Its net surplus imcone
for 1876 loas ~. 450,906.05.
Mr.. James f. Pulseford, New York city, is the
resident manager of the Company for the United
States. Mr.. Pulsford has been in the service Of
-the Company for many years. and is recognized as
try.
The Company has been represented in Balti-
mere for twenty five years or more and has al
ways had very large patronage here Mr.. W.
Stewart Polk, who has been the Comp any agent
at Baltimore forten years, has had wide xpe-
rience as an underwater, and is well known in
this omm unity business man of the highest
sta nding. His important relations with our
merchants have always been very agreeably sus-
tained and his personal qualities have contri bu-
ted very much to the popularity of the Liverpool
and London and Globe among the property own
of Balti more.
Our worthy townsman, Mr.. P B. Sublett, is the
agent for this company, at Staunton, and will
furnish rates, &C. to all who may desire absolute
protection from fire.