The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-10-09
INSURANCE NEWS.

On Sunday last we called attention to the
fact that only q small proportion of the city
patrolmen were supplied with KEYS to the
fire alarm boxes. We are glad to be now able
TO state that they will all be supplied with
I these keys hereafter, and will be required to
exhibit them at roll call, thus preventing
them from passing out of the possession of
the officer or from being left negligently ut
home.
Below we give an illustration Of the work
ings OF State supervision Of insurance COM
panies. The Connecticut Insurance Depart
ment made application to have the Charter
Oak Life placed in the hands OF receiver.
The application was subsequently with
drawn, but the harm was done, and 1t was
too late to undo It. Now the policy holders
must see their company wound up by O re-
ceiver or submit to q reduction os1pearly one
half In the amount of their policies. The IL
lustration we clip from the Cincinnati Com
nierctn:
Under an attachment issued OF the suit Of
James 8. Smith against the Charter Oak Life
insurance Company, of Connecticut, ap-
ptaisers were appointed, and the fol-
s GTas property y Ky s G H. fsn a @
grovements, on Pearl street, between
Central Avenue and Plum street, appraised at
$500; lot on Pearl street, between Elm and
Plum, appraised Mt S11 600; on Walnut street,
south Of Front, $4,000; on the corner Of Race
and Commerce streets, appraised at $4,000:
on the corner of Richmond and Mound, $500.
The fire committee of the Board of Under
writer's had a conference yesterday with the
Mayor and q majority of the city Administers
tors upon the coal oil storage question. The
Mayor mentioned the proposition made some
time ago by st. Louis firm to erect suit
able warehouse for the storage of such oils.
but stated that these gentlemen wished to
locate their house on the river front of the
city. To this, however, the representatives of
the board strenuously objected. both on ac-
count OF the danger of the flowing Of the
burning oil through the cutters of the city,
and that to which the shipping at the levee
would be exposed, and insisted that 1t should
be placed at some point beyond Hagan Ave-
nue., In the rear Of the city, and in reply to
the objection on the point of drayage showed
that the increase of one-quarter of q cent per
gallon In the price Of the oil would more
than cover the cost of drayage-at the same
time they suggested that If located on the line
oftheJaekson Railroad this objection would be
entirely obviated, and that by using the line
Of the Commercial Transit Railway, now in
course Of construction out Louisiana Avenue,
which will connect with the jackson Rail
road, they will secure shipping facilities
equal to those which would be afforded by q
warehouse on the river Ths~suggestion met
with favorable reception, and ii was finally
determined that the warehouse should be SO
located.
The plans for the warehouse provide for a
sufficient number Of underground tanks. open
at the top to avoid explosion, to accommodate
all the oil that will be held in the city at any
one time and to avoid the mixing of different
grades. The authorities are taking hold of
this matter In earnest and we now look for
speedy and satisfactory settlement thereof
The DEMOCRAT was the first and the only
paper In the city to call attention to the
wrongful storage OF coal oil, and we cannot
avoid q feeling of qualification OF the salts |
factory shape which the matter is assuming |
There are other abuses In the trade, how !
ever, which need reform, viz: the sale and use |
of inferior qualities and we shall peg away |
at these until they also are done away with |
The city authorities think that they have the |
power to check this evil, and we hope soon to |
chronicle their action In the premises