New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-11-30
PRICE THREE CENTS.
INSURANCE MEN HOPEFUL
BOSTON COMPANIES NOT OVERWHELMED
BY LOSSES.
EVEN THE WEAKER ONES EXPECT TO RECOVER
FROM THEIR DIsAsTERs-How SEVEN
LIVES WERE sAvED-Two FIRE
MEN MISSING.
IBY -rErsGRAPH TO THE rKrRuSE.l I

Boston, Nov. 29.-1o-day the outlook for tho
and for the insurance companies is more hopeful
The losses Will probably be about g., 900. 900
The insurance is about So, 500 900. IL was feared
last night that number OF insurance companies
would fail in consequence of the fires at Lynn
and Boston. To-day there seems 10 be less likeli.
hood that such will be the case Insurance Com.
missioner Merrill was asked to-day as 10 the prob
able effect the losses would have upon the insur-
ance companies. He said
With the exception of two or three OF the new
smaller companies, there is no probability that
these losses will break them. II is possible that
the surplus of less than half dozen will be wiped
out and the capital somewhat impaired but nearly
all these will be enabled 10 continue business.
So far the losses at present reported, there
is no danger but that the companies will be fully
able 10 meet them. The Massachusetts, Fire Limit
law, forbdding companies 20 insure beyond 0 per
cent of their capital any single fire district has
proven most salutary provision both in the Lynn
and Boston fires The fact that number of the
Massachusetts mutual companies, whose business
formerly confiued entirely 10 dweIling-house
property, have suffered from the risks recently
taken in the burned district will probably make
them little more cautious hereafter about entering
upon the field of purely business or mercantile risks
John c. Paige says: feel confident that the
entire property loss will not exceed s6,OO0O0O
and the insurance loss approximately 81 900. .00O.'
Brown, Durrell Il Co.'S insurance given
in this mornings papers at over 100000,
said 10 be on the authority of
Mr.. John C. Paige Mr.. Paige now
states that their insurance is only about 100000.
and covers their loss. George Carpenter, of George
o. Carpenter Il Son, confident that all losses
would be paid in full. He spoke of three or four
companies in Boston whose capital he thought
would be considerably impaired, but he was sure
it would all be paid up again. 1t appears that
tire loss Of the Hartford Company will not be
above 10000, and the Liberty Company, of New
York, will probably come out Of the fire with
not more than $4,000 loss The president Of
the Boylston Insurance Company says: We are
all right as our loss both in the Lynn and Boston
fires will not exceed S40,0 900. We can stand tho
loss of this amount without finching, as it does
not take half our surplus
The manager of the Eliot Insurance Company
said: We lose only $500 by the Boston fire.
Our loss through the Lynn fire was much greater.
We intend 10 keep right on doing business, and
can pay every dollar of our indebtedness. The
rumors circulated about the bad financial stand
ing of this company from the loss sustained BY
these two fires are untrue
The secretary of the Fireman's Fire Insurance
Company said We wen heavy losers by the
Lynn and Boston fires our loss in the former
city being. 500 900, and in the latter $4,000,
but we can stand a little thing like this, where
smaller concern would be seriously affected by
a loss of half that sum. This company is in first
class trim"
AT the office Of the North American Insurance
tba said Ou in
Lynn will foot up to about si2,O and our loss
by the Boston fire will not exceed s2?, 900.
Some salvage will come out of these last figures.
For instance, this morning we settled case
against us of $500, for sl20; so our actual loss
by the Boston fire may not reach 100000. We
feel our loss, but we shall keep right doing
business"
The President of the Neptune Insurance Com
pany said: l cannot say just what our
actual loss has been during the last few days.
The company lost heavily. Probably our loss
from the Boston fire will be $4,000 We are
doing business this morning and hope 10 pull
through all right
II is generally be. wed that the fire was caused
by some sort of electric wires; it is not known
whether electric light wires those Of the street
railway system. The electric clock in Cordley 70
Co.'S banking-hOuse stopped at 6:35 p. m.
Wednesday. The janitor and ianitreSs, who were
in the building, the clock burn out This
would indicate that the fire started in Jordan,
Marsh & Co.'S building on Wednesday and
smouGered all night.
Patrolman Charles Mavnes. with David H.
Barry, was standing in Bedford-st. at the time
of the fire yesterday when a man rushed TO him
with the startling cry thar several women were
in room at the top of the building at the western
corner of Kingston and Bedford SITS. This
hat mandatory. Officer Maynes seized fire.
mans axe and started to the spot. lie CROPPED
his way to the top story Of the building. cutting
down a locked door. and found in room divided
into two compartments six women and one man.
who had become confused and dismayed with tho
heat and smoke. AIaynes seized the first Of
these by the hand and dragged her to the door
furthest from the flames. only TO lind il locked.
The axe was again Piled and all escaped. with not
an instant to spare, as the flames were literally
at their heels.
-Four biz pieces of fire apparatus and Engines
NO - and No 2G Hayes truck and the water
tower. which were smashed by the falling walls
of Brown, Durren & Co.'S building, were valued
at $4,000 Chief Weber says $1,000 worth Of
hose and other Fire Department property are in
ruins The loss Will not interfere with the SER
vice.
Two more firemen Michael Murnan, driver, and
John Brooks. pipeman, of Hose No. Z. are believed
to be in the ruins of Brown, Durrel X Co.'S build
ing.
c. F. Hovey & Co. to-day sent a check for
50 1000. and L. H. White one of $1,000 TO me
Filemen's Relief Fund.- an expression OF ,ne.-
appreciation of the splendid services rendeie1 ~
the Fire Department m saving properly
-.,-, l,, >-r,v work. COMPANIES.