The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-26
indication the drift. The percentage OF losses
paid 10 premiums received was, for


soreisn companies. 4Ll3
In concluding his address Mr.. Chase said:-
II have accurately unprecedented the situation,
duty TO the public and duty ourselves well de-
mand tnat We should maintain the organization and
vigor OF tho past Such. trust viii be the conclusion
TO which your deliberations will tend during this an
nuai meeting, and such tho results which will iol-
The Treasurer's report showed balance on hand Of
over 0o0 and balance favor Of the incendiary
fund OF 81, 600
The following members were appointed a committee
on the recommendations of the President and pro-
vsional committees:-Messrs A 4. Oakley and J. N.
Hare. OF New York; s. G. Preston, Hartford; +. W.
Arnold Providence; 7. s Chard. Chicago; ana W. s.
The following is taken from the annual report Of tie
Committee on Statistics:-
The capital employed In the business In 1875 by
American companies was $50, 4l0, an increase or
$l,240, 420 over 1876; but Whine New York State
panies showed decline Of $3.50. 900 IN their capital
other State companies increased 81. 490,420
Tho percentage OF losses paid in 1875 to premiums
received was:-For Now York State companies,
per cent; foreign Companies, n e7ioo the total
amount o. premiums received By American companies
s was and sy foreign companies slos40
or tho rece'p.s Of the year ,horo was paid out for
losses $2s 4o2 or $3.50, 22l less than 1875. In
by the companies iov inland and marine premiums,
and S.,996,Sa9 paid out tor losses average OF
II $4,000 OF such receipts on this class OF business.
The total receipts were Tor premiums including inland
aud MARINE $50 6os 300 and the losses S3I o4S
or 81 l-1G0 per cent
The percentage OF expenses upon tho whole receipts
for premiums IN 1876 including foreign companies.
was 30 32-l00 per cent against 81 So 100 per
1875. an increase OF $1,000 per cent The whole
amount pai Tor nre losses In 1875, before stated,
was $2S, O5l ,402; Tor inland and marine losses,
81 GOT, $3.50; Tor expenses, $2l OS8 969 making total
OF $o2 or 81 3400 of the receipts OF the
pancs for 1876, and leaving OF ST. 900,
which add interest on Investments, So 3d. making
Sl4,350330. .ss 8a4rss
Deducting dividends paid 1882 2,3 and profits OF
foreign companies, 81, l65, Ss8, leaves 81 302 III
From this deduct depreciation in assets Of COM
pancs as compared with January l. So and we have
surplus OF receipts over expenditures for the year Of
$yS3, l92 The companies have paid since 1872 an
average dividend OF IL 20l00 per per annrm TO
the stockholders, and have added to their assets only
insurance companies not very encouraging exhibit
PERCENTAGE or ABILITY.
This table shows q decrease Ia the amount OF risks
assumed by the companies compared with 1875. of
$500 25o 635 II also shows decline to 1922 $1,000 OF
tue ability TO write on the part OF the American COM
pnnes bringing the average largely below that OF the
last eleven years. There has also been decline in the
now below the average OF 1870 year In
which the National Board was imperative As rates
since the beginning OF 1875 have still further declined,
we bid tair soon TO arrive at point below that which
was reached before the establishment OF the Board in
1866. es
The following gentlemen we're appointed committee
on the nomination OF officers -Messrs. H. Bennett,
Jr., Hartford; W. q. Croweil, Philadelphia; f. A.
Walton, New York; 4. w. Croweil, New York; w.
s. Denny, Boston; J. H. DewolI, Providence; E. Y.
Gran ST. Louis
The Board will continue its session to-day.