The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-04-27

anu IL Is JuHl VII AlllS way ltAii'is W
few pounds Of cocoons each year in the
intervals OF agricultural and domestic du-
ties, that silk culture has been efficiently
prosecuted in China, France, and Italy.
Assurance Against Fires-Incendiarism.
1t is only natural that the fire insurance
companies should complain that the rates
Of insurance are too low, and take meas
ures to increase them by a combination OF
underwriters. All the ordinary risks are
now taken at very moderate premiums, and
the companies are not making so much
money as In the flush timos OF ten
years ago. But the profits OF oil business
have greatly declined in that time, and men
| have to be satisfied with their decreased
| gains. There is no reason why the insur-
| ance people should fare better than the rest.
II is true that the fire insurance business
| has suffered by reason OF the cutting under
| OF pushing companies which took risks
carelessly and at lower rates than were per-
| haps safe either to the insured or the in
surcr; but during the last five years many
| OF the doubtful companies have been weeded
out, and, as a whole, fire insurance Is In
very healthy condition at present. We do
not believe there is any real necessity for
an advance Of premiums on the average,
| and the public will not look favorably on
| combination Of underwriters To put them up
| and check n wholesome competition for
risks which maintains rates at a fair level.
| At the meeting OF the National Board OF
Underwriters in this city on Wednesday,
| the President bewailed the failure OF the at
tempt 10 carry out the recommendation OF
last years meeting to call a convention OF
fire companies for the purpose OF establish
ing an adequate tariff" To 400 circulars
asking the opinions OF insurance officers and
managers throughout the country as TO the
policy and proprety OF holding such con-
vention only 1874 replies were received, OF
which however, all except SO were directly
favorable to the proposition. II is plain,
! .L---s----. 49, A. 49,. 800 sanaral aon,-
bination has not yet come, and IT Is for
tunate for the insured that such Is the case.
Rates which are adequate TO protect the risks
and maintain sufficient reserve, though
they yield only a small profit TO the COM
panes, are all the insured have any interest
in paying. The safety Of the public may
not be so much assured by higher rates as
by low rates which compel the underwrlt-
ers TO conduct their business with the care
caution, and economy which are now i'm
perative in all commercial enterprises.
The reports OF 2s3 American and 10 for
eign companies show that though there
was decrease in the aggregate OF premi-
ums received. their profits gave them an in
terest on their capital which. low as 1t Is, is
still fair for these times when there Is a
rush TO take up Government bonds at four
per cent. And already there prevails among
the principal companies n pretty uniform
tariff which goes far to obviate the neces-
sty OF any such combination as that pro-
posed, and into which about half the officers
are either averse or indifferent to entering.
There is one point, however. brought out
by the reports OF tho underwriters which
deserves attention, and justitles the meas
ures OF precautiOn they are taking against
a frequent cause OF loss. II refers to the
great number of fires which occur under
suspicious circumstances, or are the proved
work OF incendiaries, some OF whom burn
up property with the sole purpose OF getting
the insurance on II. Fire experts may some
times be too ready 10 suspect such foul play,
but there Is among insurance men pretty
, widespread cynicsm regarding the ability
or willingness Of a part OF the insured TO re-
sist the temptation 10 fire their property
when they can get better or "a prompter
return for it from its insurers than by a le-
, gitimate disposal of it. And probably this
2 method of cheating the companies is SO
2 much more frequently resorted to than peo-
pie generally suppose, that their doubts are
, justified by the facts Of which they have
knowledge
. Thus OF the 3693 fires reported last year
1 10, or nearly 20 per cent, "were known Of
4 incendary origin" and 1886 were "un-
5 known and untraceable." In 1873 rewards
for the discovery and apprehension OF in
, cendiaries were offered to the amount OF
: $3.50, and Is convictions were secured
= This was only small number of convictions
r compared with the number OF incendiary
2 fires proved to the satisfaction OF the com.
= panies, and very trilling one compared
Q with the total OF fires regarding whose or
/, gin they had the gravest suspicious. The
t report on this subject presented on Monday
4 spoke of the enormous prevalence OF incen'
1 dlarsm, and referred to that crime as one
l OF tho chief sources OF loss TO the companies
a source which 1t is extremely difficult &c
t reach. In tho statistics for the last three
4 years incendiary fires, which seem TO be on
0 the Increase stand second ON the list in re,
D spect TO the value OF the property burned
the only column that exceeds IL being that
Y headed unknown"
b 1t must not be supposed, however, that
3 these fires are generally kindlod by the In
5 sured with the view of swindling the com
d panles There are fires of this sort, and
D enough OF them to show anew how fire.
n quently the greed for money overmasterf
0 moral principle; but there is also mania
o for burning buildings without motive which
n Is far more widespread than any but those
= actively connected with insurance ar,