The sun., 1889-11-30
INSURANCE RATES To 60 UP.
NFW ToRK MUST HELP Par TEE LOSSES
by THIS WEEKS FIREa

largo proportion OF the losses by the big
hrss in Boston and Lynn will eventually come
ont OF the pockets Of New York business men.
TIE double blow against the insurance COM
paniss 10 so heavy that 1t is sure TO lead TO q
general advance in rates all over the country.
That was the talk among Insurance mon every
Nhere Yesterday. Probably no concerted action
In this direction will be taken before the end Of
the year, but that II must come speedily every
body in the business says is inevitable. For
months IL has been the cry OF fire insurance
men that business was being done at absolute
" ruinous rates. Several attempts have been
made to get concerted action for an advance,
and even now n committee Of the Board Of
Under@riters OF New York municipal district
has this subject under consideration.
Insurance men gave their first attention yes
terday to taking account Of stock and exsmin-
ing the holes which Boston and Lynn had
made In their surplus. New York companies
farod protty we'll In both fires. The bulk OF
the risks we're held by New England and By
foreign companies. A careful examination Of
the lists made It clear that no more than one
New York company could possibly be crippled
by its losses. Two or three others will lose
large proportion Of their reserves; An ,exag-
gerated statement OF the risks held oy the
involved The fact that the Insurance Depart
days ago to mako good an impairment OF Its
capital gave color to the rumor
bic loSs n Boston and lynn is $1,000 and this
months business alone Will pay that we had
G nsa %nS % ao bs donS nSs
Monday or Tuesday" The capital Of the Long
Island Company is $500, 900, and st the begin;
min Ming ySd q the present year " nao surplus Oh
The big foreign eompanios suffer the great
,,ool London and Globe estimates It's loss ut
si25,O00, but i has q surplus OF SS.oQo.0o9 to
.Ts sFsw Is irene ,Rs Phsn4 ao ns w6ic
$4,000 at risk In the burned districts tr, II THIS
loss as % be- Poe tbe sSre
Rivon tng IN f The last report siSs.s2s. stl hold
The sHsE abGp ri. th 1sEs 81 Gs 'Ss
but considera6Ie salvage e eXpoctsd: Other
RfhGs Tih sUrpns SSf of $4,000. $4,000: Prudential
Co Pssl O E.h .SS SSFpgS r.
pany With I'd detaiGie5nSy 5 at nth the 9egnning Of the
The The risks R Of the Liberty Company Of this city
amount to 81 @ 600, and the surplus oil the COM
insurance rates in New York are probably as
Sw d % Sy ysr Se n4y
sSS sr 'R SssSsO sSsS s Ind
tendency has been downward almost without
Interruption. Two years ago all the companies
Jersey City made an ironclad combination
for the enforcement OF fxsd n seh&eduls & e., OF
d%rswal % Of Single company shQuid end the
combination. Within si1 months the Williams
6ursh spGS S that s%s
rates 10 force. A Tariff Committee, appointed
by the Board Of Underwriters is now trying to
devise q fxed schedule OF rates within the
three cities named.
Miller @ sSId ySsstSrdaE that sSs the
again take up the rate problem; Ii the situation
became 80 seriops as to make II @ advisable and md
onsiGti eonsiGeration w proposition to employ the best
tai ias1estIon pefiodissll! q ii the large R fSe
Hn otnme adations & g viii BE- made to tho Executive
Committee Of the National Board. and whore
peeted to remedy them. Such reduests could
be enforced IN aimos. any csse S % fEr failure to
marking UP Of local Insurance rates. Such .
move would knock all the politics out Of the
bsS sq s city poes RSsi hs fS
Shays name has been mentioned In connec-
tiqn with the WORK under s9nsderatiSgn;; s =,
heard among the Insurance men. but the dan.
point for, them TO consider. The necessity for
such work as It is proposed " to delegate 70 an u,
f firs UnderWriters dc was strikingly demonstrated
at this months meeting oi The Executive Com
mitiee The case OF Philadelphia was cited.
Many Of the water mains in buslpeas streets
there were laid forty years age. and are t.erly
Fie ire In fact, Philedelp.hia is probably IN
city in the country. Fortunately for the Qua
kers, fire among them has. thus far. been Rs
Sluggish as anything else In their town.
Nr. Robinson OF H. B. Clafin Co. said yes
terday that tho quantity OF dry goods burned
goods market here. No New York houses were
involved In the fire.
THE INSURANCE LOSSES $3.752,720.
Tho aggregate losses of the fire insurance
companies, as reported by the agencies, show
n total OF or<T S3, 300. 900. Underwriters on the
street estimate the total property liz loss o by the
s50O0 600. The loss OF the Liverpool and Lon
don and Globe is not nearly ss large as at first
Boston. In reporting Its Losses. says that its
standing will not be effected H j Py IN the hre; Tho
aS distributed among tho various companies.
estimated and reported by tho different aRen-
cies:
Liverpool and Lsndon and Globe. England slssooo