New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-05-18
uNDERWRITERS IN SESSION..
,rrr,yG OF THE NATIONAL BOARD.
,rvss or PRESIDENT nEALD-AN CNPRofiiAbi-h
WEAR FOR FIRE UNDERWRITERS.

.vss or PRESIDENT HEALD-AN CNPRoFiiAbLE
YEAR FOR FIRE UNDERWRITERS
,ros only a fair attendance at the
cunual meeting Of the National Board OF
,,aorwr1ters neld Yesterday In the Boreel Buhu-
~" strep,v tx companies represented the ioi-
~ officers were elected for the ensuing year: fresi-
A., DANIEL A. Heall; vicepresdent j. W. Murray
c,ctarf q w. c. skilton; treasurer, D. ID. fari'n.
tsour tancies in the Executive Committee were no
nv the election Of the following members; Peter N"'-
mn Of New-YoIk; Charles Plat, OF Phliadep"i"
Aib.rt Bowker Of Boston; and James Ni'h"nS W
Hartford After the reading Of the report OF the pe'
dent Mr. Hcald and the reports OF the seyers S'''ns
committees resolutions were adopted Inviting all Ere
Insurance companies TO oln the Board ia order 10 pre-
sent a united front against the evils u hos"o " '''
ton and unjust decisions Of the courts
President Heads report begins by stSuhs VA. 'u'
last year was az unprontabc one 10 nre "nUe'
7, sos thai the action Of the Board al lis last meeting
cayea strong impetus to the formauoh OF ocal poa" "
different pars OF the country MOI less 'Ean lVVV loc"
boards and tariff associations are no" ln goo" "oIA"s
order In the Southwest over eighty Local boards nave
Ien orsanzed with tariffs IN Texas alone. The MESS
inoi Iudemniters' Association reports fifteen local or
auizatons; the soutbeas Tariff Association reports
l2G in Norh and South Carolina, Georgia Alabama anu
1 orida. In Virginia ana Maryland twelve iCeA DoArus
arc reported. Pennsylvania aud New-Jersey nave one
poorly; but New-YoTk and New-EnSiand give oeller
with satisfaction TO good results wch have followed
The action of the National Board in liking the maximum
rate of commission al 10 per cent
Referring to the report of the Committee On lncen-
diarism and Arson. Nj Head says:
There are now III subscribing companies whose united
sub-criutious amount to $l4721i during me year lao
rewards were offered by the provisional CCmnIttee,
amounting to $4,000. The TOT al nulnper oil iewiTus
offered since fund raised ID 1873 l395 aggIe
eating in amount 1924 150 During the year ~ reWaSs
ere niid amounting to $4,000 by means Of which the
co.ycr,ons of IA ncendaries ecured The total
number paid since the iuud was raised Is SS the toa
cost S26125 the total number OF ncenilaries convicted
137 Of whom 10 were sentenced FOR life; Che average
sentences of the remainder being about I'VE ana quarter
years.
The president comments upon the result Of the last
wears business as follows:
The capital OF American companies reporting 10 the
e. o 10 tSr diyiends S4i2 7o9 the premiums have
Increased 056 SO d the losses So l4E the per-
me nave gone up from 1853 to 1892 For
eCn COMPANIES show increase or $J,IlOlOS I'D pre-
cens S S loss from Co 90 to 623s the percentage
of expenses fallen IRON 32l3 To- Sl;s4 The grand
written an increase OF S6,s26,SSS III premiums, Win
in losses of 5769ol9 TIE rtt9 OIL ioss 10
premiums has increased from BOSE TO 3o4i, higher
ratIo been experienced SINCE 1870, Win one
each SiOo TO .s0l9 w6ile the fire mortality has risen
from .4i9l to .46s6 for each $lCO written. -,
Treating question whether or rot the ralo oI
burning has been increasing in late years. 'he IeIoi
says:
1t appears that, commencing with the year iet4,
the loss on eacn SIoO written was - 80, 'e
ratio of burning IN 1882, after various nucuatlons
reached 1850 each 500 written. During only one
wear uhe exceptional year Of 1879 did the ratio fal
below that of 1874. The general tendency has been
upward and from the figures as gwen Tie Coz ciuIOh
would seem to be inevitable that the actual nre cost
iresrectve of expenses has Increased during the past
nine wears This has undoubtedly been increased
by the enormous amount of term Risks written during
16at period the losses upon which fall only partially
upon the year in which the risks were written.
We The ratio has IN nine years Increased over
fve points the ratio of rates TO risks written mas de-
creased eighteen points making an aggregate unefbce
H.
correct does not require the Ken Of 10 lore
tell the DAY OF doom 10 p, e %crasnr wis p
gendered and iosIered by competition as u"ISe as ~
il unnecessary, and bordering, as IL does, well hlg on
crimnality or madness
Elaborate tables showing the amount OF all outstand
ing risks close of last year are presented The
president says, with reference to this matter;
During the six years S77-lsS2 the yearly risks have
Increased 81 O5l goo 000he rate has huc,uated from
e3 cents mills 90 cents mills iaHE III one year as
low as 81 mills and closing with an average rate
Of on cents last three years showing e@ch
gain over its predecessor favorable lndcaton II IL DC
no found taa this gain tho early risks TOT MS period
has been than Offset by collateral mortgage OF
term risks twOyear risks there las been an Increase
OF S34 900 600 with loss OF cents @ mills ia pre-
NUNS the r falling from 1888 to O7S74. and closing
with the syeTage o. los OF ~ Cents No
in 1877 with an average rate OF
average of 95 cents and mills for the six years.
Tie four year risks increased $40OOOooO, WIN
sarlnkage OF . cents mills in preiniums-a steady dc,
cline from lO7 cents mills TO 101 cents mills, and
giving average rate Of lO4 cents mills I1r tne SIX
and show of ~ cents aud One-aii Dl!I on each
500. TIE average rate Of 1877 was l. 4o4o against
ilS4O at close OF 1852. with general average or
1925 for the SIX years Tne grand total Oi al risks IN
force a. the commencement OF me present year was
544 900 600, against $59l0OOOOOO In 1877; AT the
rae of s cents and tenhs of a mid against 100 cents
aud tenths mill in lo77-a falling on OF Onb cent
mills and tenths mill tine result OF SIX years
competitiOD-no uncomfortable shrinking, exceeding,
as II does, the profits on the total business
OF the year loS2. We may however, take some
encouragement from the fact That Tie grano
average has three years advanced IrOm 10 To 30
then TO and last year 10 50 cents though the tOt lOr
the SIX years only 90 During this penOl the yearly
risks nave increased wnle TIE tel rlsks
III the aggregate have Increased $loolOOOOOo-On ne
former last three years show DECIDED advance lis
rates while the latter and much Tho larger increase
SHOWS a decline in Tales sn decided ana lar *
ceedng the advance on tue yearly risks
The Executive Committee in It's report suggested that
the Board consider whether the state OF Virginia
should be exempted frcm the rules governing the pay
ment commissions to ACCEPTS. 1t was voted that no
such exemption should be granted The meeting then
adjourned.