St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-04-21
THE LOSSES.
The New York Central Not as
Badly HurE as at First Re
ported.

The New York Central Not as
Badly HurE as at First Re-
ported.
NEW YORK. April 20.-The loss to the
property of the New York Central Rail-
road company in yesterdays fire is esti-
mated at 81, 25O.OO which is covered by
insurance in the London. Liverpool and
Globe company. Mr.. HOyt, of that
company, stated this morning that he
did not think the cOmpany'S net loss
would exceed the above sum, provided
there was no salvage. The company.
he said. had only risks on New York
Central property. Mr.. Randall, Secre-
tary OF the fire patrol and fire under
writer's stated later that it would be
impossible to say what the loss
would be to the different com
panies until all had made their
returns. He will probably, he
said. give an estimate on Monday.
The New York CentraPs loss by the
great ire is footed up by its officers as
Sl,400.000, but more than half of the
burned property was useless to the COM
pany and need not be replaced. An
other half million and over is covered
by insurance. so that the actual net loss
Of the company, chiefly on freight for
which it is responsible, is about $780,
600. MI. Depew said to-day: The total
loss Of property consumed by the fire
will not be far from S3.000.000. We fig
Ure that 81. 400, 600 OF that sum falls
upon the New York Central railroad.
but business has changed since those
big elevators were built. 1t was in
tended then that the ocean steamers
should go right up TO them and load and
unload. They have not done so. The
raIfI -
not been changed. and we do not need
two such elevators. One will be quite
enough. Besides. the foundation of the
buildings in 100 feet of mud and sand.
which cost as much as the structure. is
unimpaired. We find that we can
rebuild our elevator on our pier-the
one at Fifty-ninth street belongs to the
city-also our store houses. and find
ourselves in as good a condition as we
were before the fire, for 100000.
OUR INSURANCE,
distributed among a large number of
companies. amounts to at least $500, 900.
] think it reaches $5S0,000. The loss on
freight and property for which we are
responsible IS, therefore, our real loss,
and the iulI extent Of it. That we cal
culate at about $500, 600. As far as our
business is concerned, the three covered
piers for weSt-bound business were
saved. The eaSt-bound grain business
we can do as before III the West Shore
road. on floats, and the traffic III outside
grain we have warehouses to take care
of. 1t will be temporary return to
the old methods, and it will involve
some delay and inconvenience, but
neither will be as great as at first sup
posed. We shall rebuild one elevator
at once. as SOON as we can get at the
ruins" The storehouses between
Fifty-Ninth and Sixtieth streets.
where the fire broke out,
will also be rebuilt as soon as
possible. An examination OF the books
made by order of President Depew this
mErning. showed that there were only
$4,000 bushels of grain. chiefly oats and
barley, in the two elevators. The value
of the grain was not over 5000, and it
was all insured by the consigHors. Put
ting the loss of n. x. Fairbanks, who,
year ago, leased the old Wilcox lard re-
tinery, at $4,000, and the destruction