The home journal. (Winchester, Tenn.) 1858-188?, 1881-03-30
TWO MILLION DOLLARS.
Tho Phoenix Fire insurance
Company Doubles
Its Capital,
the Growth Of the Insurance
Business.

rom the Hartford comm tuurant March
oh, 1851,
The directors Of the Phoenix Fire In
iurancc Company, Of this city, voted
III Monday To increase the capital of the
company from $1,000, 600, Its present
igurc, to $4,000, 900, BY allowing to
shareholders of record Of March 2Sth,
1881, the right to subscribe pro rata
for the new stock.
This important movement is in direct
accord with the drift Of the fire insur-
nncc business at this time and will not
he qua 2ncd Is wise and timely step.
Insurers are looking for large capital
and strong companies, and have learned
the lesson OF the folly Of relying upon
little companies which 90 to pieces I'M
der ust the strain against which insur-
auce has been taken This is one Of
the lessons Of the great fire period, and
it was burnt in. 1t takes II stronger
hold every year, and III the past two
years probably $50 small companies
have had TO reinsure and give up. This
- i.'t - ''"' mas ic' SUM- auInoil'leS '"
insurance business itself was demoral-
lied and going to pieces. In point Of
fact it has been soIldifying and Hart
'"r'' VIVA ''S hc'Vv insurance caP''"l
ana Tue large average SIZE ol us com
P"l'cS' mas "'ch Hu'e''y "p'ofD'hg Inc
business lor Rtch VI when tic ''''''
companies '''e"Hcre nave hau 10 c'o'c
'haIr "''oiS'
o,l ne ne, increase oi lhG ih"I'IS 10 ~,
Vo"'ooo makes II rank III c"P''"i WIN
tn' '"iEd IRE insurance company Oh inc
/ H'lon N'"'c' an" mus II from posi-
lioll o. great importance 10 one OF the
very h'IH'Sl III 'hc country Ana II
ms o"''''I us WA! 'ntre ny Il course VI
energy ana honesty i ne company wa"
ORGANIZED 'un ,,, Zlsl l'ot' W'th " cA'h
cap''ai 81 Hi'o'o'V' a week latrr 1t
was "ouo''I ny 'aSil payments 10 eZoo'-
wv; IN 'N"G' 1902 inc capital was
n""0'o' " ga, ny cash SUBSCRIPTIONS ana
became "tVo ,oo'' III AprII, inot, 1t
"aS sum lurth'r increased 10 sooo'ooo'
l LHaI was It's size III loIl' Wheh .hc
,h'cago ilrc occurred. on that day
the company lost 9'S h"9''9o, which
was cIolVaitht 10 lof per- cent OF ITS
capital iNo directors called for S@oo,-
w" lL''" 'ne ''o'Hnol"cf', by the pro-
cess OF reduction OF capital and increase
n,%alu 10 me olu amount ana paId, doi-
iHr Tor uoiIar, all the losses OF that terri
oIe roI'Iagrntioh and OF the great Dos
Ton hr'' Us thGy nave OF every ire where
tncy nave SUFFERED loss
sue" " RECORD as th"t was OF Itself IL
largo c"P''al lor lnture business, nut
lne company o II, lH'o oddcd IN cash a
i"r''''r Hf2''Voo' ana ior 'nc past hVe
years ia" han cap''al Of u ,Qoo,ooo'
ACCORDING TO l'' statement OF the com
PN''y' maze January i5t, this year, the
!"'"' "s'''' i"o' up @n,''- lo''oZ, ana
i'S net surplus Is - 'V'o'tit T. ~ Every
increase ol us capital mas Dcen by cash
l'o'' III ANA It's surplus mas never been
"ln 3.. Il "P'n' n"'Hl'"' Oceh al inc 'lme
cultivated an" encouraged during It's
existence rs company, the fh"nlx
mas received SZ4'"i4 = 4S''oo IN pre-
NUNS nn1 ana mas Pald IN losses sl4, 4So,-
''z;'o' It's caSh dividends TO stock
l1 ,. nave Dech SZ'2Zo,ooo. IT'S
'o'V'HcndS declared payable III stock,
''"V We. nccl Noho' .o.o
o,n -" ''h It's caPItal doubled to sZ,ooo,-
wv ana It's - ,ioo'ooo OF surplus I'M
me lh"niX doubles ITS al
rra1y nr'n cam TO the fulI confidence
u li't business community ana VIII I'M
lo"n'e',Y reap que reward from ITS
'o"' ~" c'tcrl!ls'nS movement III Is
more IMAM inc simple acton OF one com
I""E' IT - an important movement
, = '"c "ho'' ''na''c'al interest OF Hart
Ior1' lor II tchos 10 hrlhg tins place
SUN more 10 'he front as the great IN
'"ra"eS c''y ana 10 strengthen Its claim
ness '''
The directors of the Phoenix Fire In
'urance Company are the following rep
Northam, Joseph Merriman, Franklin
chamberlain, Marshal Jewell, George
W. Moore, Charles NJ. Beach, Henry