Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1888-02-23

we will assume that the property within
what we may call for our purpose water
limits aud exposed to danger from IRE Is
worth 81 COCOON
What then Is the probable measure of
the benefit in the form of insurance likely
to accrue to this property upon the intro
ductjon of water We can do no better
than 10 turn 10 those who have made this
subject the study Of their lives-the I'M /
derwriters themselves and see, not what /
NAV lie. but what has been the result of |
similar action in the past in the case of /
other towns and cities, care being taken |
70 compare the character Of this property |
with that affected in the other instances
Bv actual enumeration the district de |
scribcd contains something over 900
dwelling houses. II saw mills, some sixty |
stores and , steam mills. beside ware
houses. public buildings and various shops |
and factories II will be apparent at once
that the principal sources Of values are the
dwelling houses and the stores with their
contents
beginning then with the item of dwell
ing house, and their contents liable to
destruction by IRE. after a somewhat iaho-
rious and quite careful computation, has-
ing consulted some of the best judges Of
real estate In our midst, ask leave TO az
sumo that the 400 dwelling houses with
their appurtenances constitute at least
sGn0. 900 of the value now under consider
alton. Upon this class of property the
rates for insurance at present. a cstah-
li,hcd by the New England Insurance TX
change in June, lss7. vary from onc-quar-
ter the greater part 10 one-third Of one
per cent per auuum, the increase Of -
per cent imposed by the exchange in
October. lS>- not having been extended
to this class Of property. ~ - til" whole
OF this great class OF property venture
the prediction that the introduction OF
water In usual and ordinarily efficient
manner. will not result in lcs>cning OF
insurance rates tn a degree worth taking
into consideration aud for thi> reason
Rates are a. low now for this class in
| Ellsworth a. they arr in almost any com
munity Of like character that can he
named even where they are provided with
| a water system.
! In Bar Harhor for instance, with IL
/ system ~ water supply AMI IT, steam iFc
| engine. rates FOR >ca.hore cottages arr
from is TO ~ per cent.
Ia Rockland, under a protection Of a
$50 feet head OF water aud steam IRE III
CINE the new tariff just established i -
to l-3 per cent
Ia Houlton particularly favorable
compari- nn to which | shall revert later
! 5-l6 ler cent FOR the very best risks.
Aud here let some one should inter
pos. ths objection that We should certain
., l.- entitled tn some reduction even for
tui, cla,- sine" The risk must certainly Pc
som, l,~, wish tn remark tia; thc bis
t1r, ID such ca>,- ha- hcru that Insurance
companies part reluctantly with an ad'an
ta-, ono, gained and Il they change thcir
iai,, Whenever There j. reason f'r d and
Then uuly iA.u What J. NJ" mcan.n- %
a., remarkable increase ln rates = l'r
cent 10 which So have just b-ru sub
jectc,i -l,n thc RISK O., certainly nl great
,r thau h.for, Ii would almost ~crm Ike
deliberate At,emp, to force q. jn;" pro
yilug water works AMI Il - FOR whose
benefit ma, it hg presumed to p, in,endcd'
hut, ID return q Tie original plan u
pr,cc,slln. ia n take mex, the item Of tie
90 IT NOR, store, ~ th,iF coni,uu.
Pursuing the sam, course a. adopted
with the dwelling houses submit that th,
dc-,ructihlc property thus classified can
not he fairly apporiioucd at more than
500 go on thi, class at present the
minimum rates including the advance Of
= III eeai,s a.etass at.s.4i ! ,'.g u
may expect sensible reduction. bn, am
not willing /" admit that ne may cont
IDENTITY expect anything beyond the IT,
| moHAl 81 the = pcr cent increase just i'm
| posed. II we get that and Tor two rea
sons Fir>t. IN two case, when. has G
made inquirie>-in Rockland. Maine aud
in Abingdon, Mas the reduction wa los
than the - per cent after the water was
! introduced. Second. our rates then would
be FULLY a. low II not lower than ia other
and similar towns cited which rcjoicr in
the protection Of water
Ia Bar Harbor again the rate. for wood.
en- buildings such a. the PorCupinc Block
arr still per cent and for Moran Bros.
storc B -. the same A. Moran Bro, store
In Ellsworth.
II may he urged. and justly l have no
doubt. that Bar Harbors water ~ stem (,
still very imperfect. and Ia search Of an
example that is more in point turn again
10 Houlton. Houlton j. town particular
Is comparable 10 Ellsworth only newer
IL j. filled with WOODEN buildings and the
lumber business with its inhammable saw
and planning mills j, its great productive
| industry. Il has steam water system
just completed with miles of mains and
80 hydrants for which the town pay, $50
each per year, beside steam fire engine.
| Under date Of Jan. 18th inst In reply to
my letter Of inquiry the Supt. Of the
! Houlton Water Co, who Is also an in-ur-
ance agent. writes as follows: Rates Of
| insurance here on best risks in brick
| blocks are Is to 3-s pei cent. accord
| Ing to adjacent exposures, and in wooden
rows" here We have IT. - to per cent.
annually for business risks" II j. but
fair 10 state however, that he says the
| people Of Houlton are very much pleased
with their investment in water. He also
writes We feel that our present rates Of
insurance are unreasonably high but COM
| panies are stiff
| The fact i that highly destructible
| character in property has much more to do
| with insurance rates than has water sup
| ply. In Bangor for instance rates on this
class are considerably lower but Bangor
| contains no wooden rows" and ha, a sys-
| TEN of water works that cost $500. 900.
| Accordingly therefore | shall assume,
| for the purposes of this article. that on
| this class we obtain reduction Of the %
per cent. only. Then on valuation Of
! s300,0o0 we should have a gain Of. in round
numbers, $1,000 as the result of water.
Passing next TO what we may call the
| commercial hsckh ~ Ellsworth our