The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-09-23
INSURANCE NEWS.


INSURANCE NEWS.
Evansville, Ind, proposes to invest her fire.
men with police powers while on duty at
fires.
Albany, N. Y. has concluded not to carry
any insurance on her fire engine houses after
the expiration Of policies now IN force.
Plate glass Insurance companies must de-
pesit securities with the State Treasurer, OF
they will not be allowed to do business In
Michigan.
The Underwriters Association of the North
west has been meeting in Chicago this week,
and have had before them matters of great
Importance TO insurers generally. The re-
suits of their deliberations will be awaited
with much interest
There is said TO be a new co-duperative in
Chicago, which is almost ready to step into
the shoes latel y vacated by the defunct ''Pro-
lection Life, and the press Of that city prom
Use 1t a hearty tn reception, and plenty of
free ADVERT sing. Good.
The former insurance superintendent of
Kentucky. Gen. G.. W. Smith, will, 1t is said,
be sent to England, to examine the fire com
panies which are operating agencies In this
country. or course the taxpayers of the
State will not have the bill to foot Oh no,
certainly not.
A bill was introduced into the New Hamp-
shire Legislature. at its last session, to fur
ther regulate life insurance companies doing
business in that State 1t provides for de-
post with the State Treasurer of either
United States or New Hampshire securities
equal TO the amount Of its liabilities In that
State. said securities TO be Endorsed to the
State of New Hampshire in trust for the
policy holders of the State;'' they must also
furnish the commissioner OF the State all
necessary data from which TO value all poll
Giles In force in the State. 1t further provides
that, in case Of any default, or If the company
be insolvent dhe commissioner being the
judge) said funds held in trust may be
seuuestrated and divided among Its policy
holders and other creditors The bill was
laid over to next session for action when, IL
the usual Legislative acumen be displayed, IL
will become a law and shortly thereafter
New Hampshire people will be unable to pro-
cure insurance.
The deppsitors security at last is in the sa-
gacity and integrity of the bank managers
and the financial standing of its stockholders,
and OF these every depoSitor must get such
information and form such opinions as he can.
-lChieago Tribune.
And SO with insurance companies; the
State Supervisor, with his annual report.
handed In six to eight months after the close
of the year which that report covers, is
literally Of no earthly account: the same
paper, in the same paragraph, pays It's COM
pliments TO insurance laws and supervision.
thusly.
Some years before our great fire the Illinois
Legislature passed a stringent insurance
law. providing for published statements and
official examinations of all companies doing
business in this State II 1t has ever saved
the citizens of this State one dollar don't
know 1t, and it has probably cost them mil
lions by betraying them into patronising
worthless companies. Over and over again,
before and since the great fire, companies
have ridden into a measure of public conf
dence by advertising their compliance with
our " stringent law, and, after robbng our
people Of thousands, have collapsed without a
word OF warning.
The chief engineer Of the fire department
has beer for years urging the enactment OF
stringent building laws: we also have advo-
Gated the same and now we give room to a
similar plea from Cincinnati, as follows:
A considerable rebuilding of this city ie
going on, under the stimulus of cheaper ma
terials and labor and unemployed capital
This should be a time for radical reform it
the manner of building in respect to safety
from fire. We are not going to talk of fire
proof houses, in the sense of houses that viii
stand the furnace heat of a, Chicago confia
grafton: for of such there are none. But il
does not follow that we must continue tC
build houses for a quick bonfire. He who
builds floors of nothing but wood joists
! boards, and plastering on wooden laths
builds the best arrangements for quicl
He who builds block in this way
with no solid division walls RUNNING
above the roof, builds a structure to make
general bonfire whenever fire Is started il
any part. Such building ought to be forbid
den In city. Is 1t not practicable
at small additional cost, to maxi
n filing OF some incombustble concrete
plaster or clay, to fill in the ioists OF floors i
such thickness as they will bear, IN which tn
flooring shall be solidly laid, which woul'
make the floors go retard the combustion tina
our means of extingushng fires would hay
in all eases good chance to save the bulio
ing2 At the least every inmate would have
chance to escape. Every builder knows thi
Is practicable. It is shame in any one nc
to do it.-ICincinnati Gazette.
II is everywhere the same thing, and insur
anee men have no right to stand silent. 1t
duty which they owe both to themselve
and their policy holders to takea hand in ure