New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-04-26
INSURANCE DISCUSSION.
FIRE UNDERWRITERS CONVENTION.

ronrescntod Citizens Continental German American,
Gcrmania Hanover, Hoffman, Home, Howard ana NJ
agara OF New-York City; Atlantic and Phoenix OF
BROOKLYN; Albany and Commerce OF Albany; Northern
of Waiertown N VI Etna, Atlas, Connecticut, Hartford,
Orient and PnGnix OF Hartford, Conn.,. Meriden of West
Meriden, Conn., North America and shawmut OF Boston,
Mass; First National OF Worcester, Mass; Springfield
OF Springfield Mass. Franklin Insurance Company oil
North America, aud Pennsylvania OF Philadelphia /;
Atlantic. Equitable, Merchants, Providence Washing
ton of Providence. r. L. American Central of st. Louis,
Mo-; Firemans Fund OF San Francisco, Cal; Home OF
Columbus, Ohio Home OF Newark, N j.. St Joseph OF
St Joseph, Mo-; St. Paul Of ST. Paul, Mo- Traders OF
Chicago and Commercial Union Imperial Liverpool and
London and Globe London Assurance, Northern OF Lon
dOn Queen, and Scottish Commercial OF England large
majority Of these companies represented by their
respective presidents.
The session OF yesterday led with closed doors,
course never pursued before This was in accordance
with resolutions adopted by the Executive Committee on
Tuesday and proved disappointment to many insurance
men, whom the proceedings of great interest Inc
treasurers report showed balance on hand OF over
$4,000 The address Of the President George L. Chase
of Hartford, said among other things:
The capital employed for the year shows an increase
from 1888 900 to $jG6231iO upon which DIVIDEND
OF 1867 per cent was p9id This increase OF VEIN al
smaller capital. have increased Their dvidend III amount
and of course still more IN inc redced de r
cent of dividend. The percentages are: ,o..,,
New1oIk STATE a;n companies 50 % Per cent
The aggregate of prelninms received i9r $50 was
Si5l7327 TO- against $40 sos 216 81 for the previous
Year, a decline III premiums OF Si,6349s1 90. the
Losses paid amounted 23, 20 for 1876 against
got O76GOi IS for 1873. decline IN losses OF S1s
lei AZ Tie loss ratio has tls increased from 80 to
Oily per cent The perceDtage OF losses paid to pre-
Xev.Yark State oa2a9les. ?1 y per cent
The ratio OF expenses to pemm receipts $50 v waT
since these observations have been mace
Mr.. Chase said that the organizing OF local boards
throughout the country had been one OF the greatest
features of their work. and The Importance OF MAINTAIN
ing these valuable auxares should not be lost sight o.
The number OF local boards AT the present time was
12l7 with membership OF 1903 agents an increase in
the number of boards of log, aud in members OF 900
Mr. expressed himself greatly in favor OF the con-
tnuance OF the fund for the conviction and punishment
OF nccudacs In conclusion he made reference 10 the
evident weakening OF the ties OF association, hoping that
they would maintain The organization ahd WORK WIN
all and more than ALL the vigOr OF the past
The Ncw-Eng Gland Prov isOnal Committee, NJ. Bennett
IT, of Hartford chairman reported on the efficiency OF
the local boards in England and the success OF the
system OF the National Board carried out there Ihc
members of the committee were unanimous III supporter
the Organization and in declaring the necessity Oh Us CON
tihuJHcc.
re reports OF the General GENT Assistant General
Agent and SpciyIsng Agent gave statements reg lrdug
tn WORKING of tie 81 stem Of the National Board TN Oug
ont the country.
President Chase then appointed the following commit
tee upon recommendations of the President, Executive,
Provisional and special Committees, and of the General
Agent: Henry A. Oakley, NewYork; 5. {. Preston
Hartford !; j. n Hax, New-York T. ". Arnold, PFoyi-
dencc r. q Charl Chicago aud W. s. Davis. Philadc-
phia.
The Committee on Inccnliaiism and Arson reported
that the number of rewards offered from April l, 1876
TO April l. 1877, 1Gl amounting to $4,000. and Il
convict:Cns secured.
Tie Committee Construction OF Buildings, j.. W.
CroVcu cAaumau remarked that there should De more
careful Use OF steam heaters aud hotar furnaces and
that the heating apparatus OF al buildings in process OF
construction should he inspected before the building Is
so nearly completed TO conceal II from view. lac
report adds:
Ne vo;! not uro-criae WOOD in the construction Of
t.l i,g T1c important thing, are good foundations.
,uucrfuctnrc brick, wed Frouted WITH proper
cement walls Of wcli-burned brlc", mon tImPefs ot
uronrr diIncu ions. cuGs resting upon cg walls. not
erttrlng them and packed Win IN nconbasblc sub
stance and floors dtairhed wIth IT, or sphthhg US
Such sd G sr actin woE be ee improvement apop
tbc Fro majority OF buildings now erected
Il a fire should take iiao9 w. ~; ILs ftboi II
would be stayed with moderate damage.
so Jar are aware no provision - mac ~ lc 3u.
in yarch, uses, which believe IL grave oversight.
Care taken to prescribe rules 10 regulate he bearing
tween tne ceiling and floor. THESE spaces, with
shaving. and Chips left ~ the workmcn IN thcnl'
"a
Ono ~ the greatest cyii. ~ the Immense area OF our
warehouses ~ largest cities, in mauy Instances
10000 or 5000 square fcci, aud IN some Instances
20 900 saarr feet OF open space without Dre". or wall
\ spread" Ia attract the eye, hlcG vain in"tchahIlSc
of e!i or Inlamnanc character. Ihis Characteristic
ci hIl!ugs Is truly American astounding ." the
foreigner and Tu.nous to Inc Interests OF prop
cfty-Iollcrs and underwriters. \ consideration
0f inc comparative Iaei,s of building materials
genera IL may not b' out OF place here Fst - merit
Tor durability for resistance to tne cic' oil no elements
OF frc and weather, class bricks better Than stone
Infinitely better than iron. Iron as building material
has been gradually coming into use daring the past
fifteen years II und sirabla Tor such purposes ana
an cate ~ q lire point view. The introduction ~ IRON
fronts 10 Warehouses has prov To b: serious error
lbr hollow space, behind them afford faciy Tor tue
rapid sOread Of fire from story II btDry
Tie Special Committee on Western Genera! Agency,
and Southern Mutual Insurance Company reported
against The establishment OF the former aud in regard to
The latter that further action be taken Tue report OF
the SPECIAL Committee Ectrenchmen; was rnlcr dis
c.I,son a, the time CT adjournment. The election oil
officers viii be held this morning
The LIFE INSURANCE ASSOCIATION.
WHY IT WAS EXCLUDED FRoA MAssAcntsErIs-