Evening star. [volume] (Washington, D.C.) 1854-1972, 1883-06-13

.. +. Us
James E Fitch, secretary and treasurer.
THE MUTUAL.
The Mutual Fire Insurance Company, Of this
city, Mr jesse B. Wilson, president, was organized
in 1885, and has had uniform prosperity from its
start and, as the officer in charge Of the company
stated to THE STAR reporter yesterday Is able and
willing at any moment to meet all liabilities which
may, by any possibility can arise In the way of
losses.
''There can be no loss under any circumstances
occur to our members" said the officer. 1--WE have
no capital stock like the other companies; our in
terestS are mutual As an evidence OF the good
opinions OF the public state that the best busi
ness, real estate men, bankers, and others prefer
their properties insured In the Mutual and bust;
our company In December last shows the exact
present status OF the company and that the total
ss,1N 807; total amount Of premium notes in force
at end OF policy year 1882, 81 $40 1853: net increase
Of insurance during the year 1882 sssiO95 net in
crease In the amount OF premium notes for 1882,
s4Sse6: number OF policies In force December 9,
1882. 4.354. The assets of the company available,
amount received on premium Tor for 1883, :s.sSoSi,
making total amount available to pay losses.
slss, ,5426 The market value OF the companys
Is $3 200 greater than the face value" The Officers
Of the company are Jesse B. Wilson, president: J.
q Emry James bapRer s9hn van
kurtz johnson, Geo. T. DearinR, and Samuel II.
Walker, managers.
THE NATIONAL UNION.
Mr. Noble D. Larner, secretary Of the National
Union, said the publications were amusing to him.
He was prepared to prove that there was not q
company in the United States, which, in propor-
tion to the business is more solvent than the Ma
tional Union 1--WE had up to January 1st last as
sets amounting to s253. 03 all good as certified
to the finance committee As 1t takes risks only
pany. We have now been In existence nineteen
years and never were doing better business 1t
s not required OF US to file statements for we were
chartered by Congress, but the statements can be
seen. Some OF these foreign companies come
here and pay license of SIS per year and do busi
panies, but we are satisfied with our record Our
directors are gentlemen well known. Samuel
ae Bacon RreTsidenp; Png ce presldenn
ter Gen. j. a. Watmough, OF the navy; Wm
Dlxon' DIX n Thomas Francis, tof Noah Walker Coz,
NATIONAL METROPOLITAN
To STAR reporter Mr.. Greenfield, OF the Ma
tional Metropolitan Fire insurance company, OF
this city, said: 4" We are as well prepared to pay
our losses to-day as any foreign company operat-
ing In any state In the Union. Our whole premium
liability now would be. If we were under q state
supervision, about $1,000. Our risks are we'll scat
outside, and we write small lines in each block so
that our risks are reduced to the sma Hest mini
mum. In regard to the school.house insurance,
we DO not seek for It; carried pro rata OF It
for about twelve years, and lost money at the
rates. which were then higher than at present.
other companies are carrying 1t at so cents. Our
losses loss are all promptly adjusted and paid every
time Ma,itn without any delay Our president. Mr.: ".
and would put his whole fortune into the breach,
should one occur in the way OF liabilities, rather
his name stands on the list as president Our
v1 Mas reea 9 n ,s Our i tSs STOCK
annual report. The officers are all well-known
men OF Integrity, some OF them counting their
wealth up among the millions. No one has ever
liabilities. and its sound management is unGues-
toned Our board OF directors are able and willing
at any time to make good our capital stock should
nes of this city, Will state that within the last
two years they have al! thoroughly rsorganized
heavy loss could be sSs
company are: Win. 9: IetzeIott Ipresidene, Sd Sd
r Franklin. Samuel Williams, - John i % Bailey. :0nn
THE RIGGS COMPANY.
Mr.. F. B. MOhun, the secretary Of the new fire
insurance company, the Riggs, was inclined to the
opinion that the starting OF this company was one
OF the causes OF the recent publications "At any
rate" he remarked to a reporter, tive were incor.
porated on the slst OF May and on the 1st OF June
panies."
occur to your" asked the reporter.
to was the reply that the 4lfst article read
Outside and ~ IN heiq OF the
Another thing may have caused 1t, he contin-
1ns5a @ e
home companies and the outside companies Some
OF the former have taken risks at nominal figure
term risks, that is five year risks for three-year
payments Then the outside companies discount
these @ rates at 10 per cent and In this way there
''The discrimination against the outside compa-
nles that has been spoken Of" Mr.. Mohun re-
Of putting it A home company, on capital Of
500 600, has 70 pay to the district 1890 year.
gether. That q company organized here has to
pay, whether it does any business or not On the
other hand the outside companies pay license Of
District II they do no business they pay only si6
Now. suppose, for instance. that two Companies
Will pay $3.50 and their tax OF SIS, making s265,
While the home company will be paying 81, $50
against the outside comp1ny in this particuiar.%
The Officers Of the company are as Follows: N.
W. Beyeridge, president; VIM. s. Thompson, vice
Mohun, secretary Dlrectors-M w. Beverage,
Tnomas ml, q y. Hyde. n. W; Bnrchell, John Jay Knox,
John Sherman and VIM. s. Thompson.
THE GERMAN-AMERICAN COMPANY
Mr.. II. H. Bergman, the secretary OF the Ger
man-Amertcan Fire Insurance Co., said: IL am
convinced that this agitation was begun by the
outside companies. 1t has done the home compa.
MES more good than harm. and the more the at
tenton OF our people is called to the condition of
the home companies the better it will be for u.s."
"Do you think that q stricter supervision Is ne
cessary?" asked the reporter.
"Not absolutely necessary" was the reply. "But
the home companies would not object They are
all good and would not hesitate to make q sworn
statement OF their condition II 1t was demanded ~
"What would be a good move" he continued, 'if
derwriters TO fix the rates. We made the effort
recently TO have such 4 board organized, but It
was frustrated by the agents OF the outside COM
panies There would then be no under-cutting
and 1t would protect insurers by preventing
companies from insuring below cost At
present the companies are writing and un-
der-cutcng one another, and the cOnse-
Quence Will be that some company will col
lapse. or course Washington is safe city for
Insurance risks, but we are liable to have q big
nre An insurance department would not be q
bad idea, providing it was not made part of the
political machine. This has been the trouble in
other states where the law has provided such
department."
The ofllcers OF this company are as follows: g.
F. Shafer. president; F. Heiberger, vice presl-
dent; Christian g: Lederer, treasurer; W. g.
Metzerott, Philip May, Chas B. Pearson. Conrad
schaefer. E A. Ridgway. Herman Gasch, directors;
II. =. Bergmann, secretary; Otto c. Reinecke,