The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1884-01-19
Correspondence Baltimore County Unson.
INSURANCE COMPANIES.

Editors Union II make the following extracts
from the Chronicle, an Insurance paper OF New
York, which may be of interest to your readers :
"Nothing is more noteworthy among the char
acteristics of the past year than the great dis
truction of property by fire in the United States
and Canada. The fire loss has been gaining with
alarming regularity for many years. Although
fire departments are being improved year by year,
buildings being more carefully constructed, pow
--<ui appliances for fire fighting invented, water
supplies augmented by all practicable means, yet
still the whrlwind of fire remains unsubdued and
its proportions are steadily becoming larger ana
more threatening. The losses during March, July,
August and September, were the greatest ever re-
ported, and those of the remaining months have
been exceeded but once or twice in eight years.
Then follows the list of fires for the year, from
which II appears that in 139 cases the loss ex-
ceeded 100000. The effect OF these heavy losses
on the insurance companies is thus stated:
combustion having been so prolific, it fol-
lows naturally that fire insurance companies have
suffered proportionately. Large and small cor
porations have felt the drain and strain OF nu-
merous and heavy losses. The smaller companys,
with a few exceptions, have drifted IN the cur
rent which for several years has been carrying
them onward toward dissolution. Among the
retirements of fire insurance companies during
the year Just closed will be found six American
companies, with capital ranging from S9O,OOO to
$500 900. Four foreign companies closed their
American agencies, three French and one Eng
lish and one Canadian company succumbed to the
defacations of an ahsconding president. During
the year there has been the customary mortality
among the local mutual companys, the most note
worthy decease of this kind being that of the
Windsor County Mutual Fire Insurance Company,
of Vermont, which found itself failure after ex-
listing 43 years.
Of the life insurance companys the Chronicle
speaks as follows: "The life companies have done
a greater amount of new business then IN any
preceding year, and the operations of the Amer
lean companies abroad have been uniformly sue
cessful and profitable, they, as rule, having met
courteous and appreciative reception. In France,
however it is reported that the life companys have
suffered by the competition of American and some
manifestations of prejudice have been shown
against enterprising invaders, and efforts MADE
to injure their business" Incorporation has
been more or less popular during the year out
noticeable fact is that the assessment life insur
ance wave is receding from the district IN wnicn
it rose highest few years ago and IS now mum
dating new sections. In other words the grave
yard spectators have had their day In the East
and are seeking new victims elsewhere. One re-
suit of the cooperative infamy has been to cause
a demand for sound life insurance among those
who have experienced the frailty and uncertainty
of pass the-hat insurance"
ain other classes of insurance the plate glass
companys have sailed along in the tide OF time,
making money for their stockholders. A special
ty before the public-Ste boiler insurance
companies have cultivated an extensive field and
a new one has been formed in New York city
and is now actively engaged in business" ,.