Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1878-12-02
LETTER FROM NEW YORK.
Special Correspondence.

IN Importance than that OF year ago.
The present discussion arises mainly
from a combined attack on the old Nut
ual by number of other institutions
on account of the formers reduction of
its premium rates. Now the Mutual is
not only the largest life insurance COM
pany in the world but the richest inan-
cial corporation in the world, as well.
having over eighty. six millions of assets
or twenty million more than the COM
bined capital of all the hanks in New
York. OF course. therefore. its course
effects that of hearty all the other COM
panies. Equally of course, the latter
dislike to cut down their profits, and
hence the bitter attack. An attempt
has lately been made. by the authority
of some Boston lawyers, to assail the
right of the company to make the rebate
and even to represent its new policies as
not good. but these efforts have utterly
failed the highest legal authorities in
New England, Judges Foster and Chand-
Ter, have emphatically declared the plan
legal and the policies SO issued "iron-
clad" The officers of the Mutual have
thus far paid but little attention to their
maligners. During their twenty-five
years administration Mr.. Winston and
his associates have built up this i'm
pregnable financial structure, and if
they cannot be trusted to wisely ad-
minister the affairs of its members, |
fear none of their opponents can claim
to be competent to correct their errors.
Some weeks ago l made passing
mention in one of my letters of certain
torpedo experiments. which are in pro-
gress in our harbor, for the purpose of
providing means of effective ofense and
defense in case of foreign war. At
that time such thing as war seemed
too absurdly improbable to talk about !;
but the somewhat acid turn which was
subsequently taken by the correspond
ence between Uncle Sam and John Bull
over the Canadian fishery troubles shows
that there is always possibility, at least
of such contingency, and invests de-
fensive preparations with reasonable
interests Two successful exhibitions
in the torpedo line have just been given
in the harbor, displaying great ingenu-
ity and demonstrating that if the ma.
chimes involved will work in the hour
of need as perfectly as on these occasions
we need have no fear of attack by wa.
ter even by the terrible ironclads which
Europe has recently been perfecting.
One of these deadly inventions is 9
torpedo boat planned by Captain Erics.
son, who built the once famous "Moni
tor" and called the Destroyer" This
wonderful affair is thin, sharp, low
lying iron craft, adapted to run during
action almost entirely under water, thu
defying the heaviest missiles that Cal
be projected against it. The most re
markable feature of it is deep cigar
shaped recess in the bow (also unde
water), which holds powerful torpedo
AT the proper moment this torpedo ca
be thrown forward by compressed al
at almost cannonball speed, and wit
force enough to send it through tn
water for several hundred yards if nee
, be. The conclusion of the torped
against the hull of the ironclad to b
t destroyed would explode the charge
: and before this unseen. almost noise
less and wholly unavoidable attack, tn
/ mlghtiest vessel that ever was launched
r monster upon whose armored side
}. the heaviest cannonballs might ia
!, with no more effect than pattering raj
: would 60 to the bottom as helplessl
# and as surely as though smitten by a
9 Jove's thunderbolts.
i The other device exhibited for Il
: same purpose is torpedo which pr
|. pels itself, and travels through the w
n hither and thither without soul {
e board. 1t is an iron shell. cigar-lil
e in form and tapering at both ends to
d point. In the shell are three chamber
It The chamber in the bow is prepared
:. hold dynamite, which will be explod,
n either by percussion or an electric spar
h The central chamber of the she'll co
r. tains tanks of carbonic acid and t
1t engine which propels the torped
e. This engine is driven by the expansi
is force of carbonie acid gas general
d under pressure in the tanks, and driv
ia screw propeller. In the chamber
1t the stern of the she'll is reel of insul
1T ted wire connected with battery
re shore. By touching different keys
lie this battery the torpedo is put in II
n ton. turned to the right or left, back
rs or stopped. as desired. A spark frt
an this battery can also be used to e
if plode the torpedo, if explosion by CO
er tact is not found to be the better m
IS thod. The length of the shell is abe
twelve feet, and it greatest diame1
nearly eighteen inches.
KS This marvel of ingenuity was mao
n vred the other day in presence of a mn
&c Der of English. Spanish and Americ