New-York tribune., 1891-12-27
THE OUTLOOK IN INSURANCE.
IMPROVEMENT GENERALLY EXPECTED.
IN FIRE COMPANIES 1891 HAS BEEN BAD YEAR
OTHER LINES OF TIE BUSINESS.


There can be no denying the fact that the that
Is closing has been OF the worst on record for
the fire insurance business. Hardly company earned
any money and not few had to make drafts on the
surplus OF former years to pay losses. The feeling
generally that 1892 Will be much better as adversely
has taught remedial measures. Some companies have
gone OF business and this has made Improvement
in tho condition Of the rest.
The Phenix Insurance Company is Of Brooklyn. but
does big business In this city, where it has offices
at No. 105 Broadway. George p. Sheldon is presi-
dent, Arthur b. Graves vicepresdent George Ingra-
ham second vlcepresdent and C. c. Little secretary
The last annual statement made on January 1, showed
assets of s5,000,0OO, capital stock Of $1,000
coo and net surplus OF $G50,O0o. Mr.. Sheldon
said to q reporter
eyes, the present year has been an unusually
favorable for fire insurance companies generally.
We have had increase I'm the loss ratio, but in the
premium income well. The enlargement Of this in
Is due not to the reinsurance OF other companies
but to the transfer by agents Of business from the
books OF other companies which have gone out Of bus
ness or are thought to be likely to do Our
plus has been drawn to swell the reserve premium
fund.- this being made necessary by the increase OF
business. We look forward to profitable year."
The Citizens Insurance Company, Of No. 156 Broad
way, has been in business since 1885. Its officers
also believe that 1892 will be much better year for
them than 1891 has been. F. NJ. Parker, the secre
ary, said The companies are holding together well
and / think that Improvement in business is at
hand. There will be fair, equitable adjustment OF
rates, which will place the insurance concerns on
better paying basis" Edmund A. Walton Is president
and George H. Mclean Is vicepresdent OF the Citizens
The capital stock is 100000 and the assets
81 100000 In its long career the company has won
the substantial favor of the community.
The Broadway Insurance Company has been con-
PEELED by the heavy and increased business to
IT.. gl,
OF activity made necessary q bigger reserve for
Insurance, but it will also show itself In q larger
surplus at the end Of 1892. The company was or
ganized in 1949, and Hiram NJ Forester was Its
president for many years. lbs capital stock Is
100000, and its last annual report showed net
surplus OF S215,15O 80. +. B. Magnus is president
and George W. Jones, secretary. fine class Of busl
ness Is carried, and every indication points to
prosperity in the next twelve months.
The stories Of extraordinarily heavy losses heard
only In fire insurance companies Concerns In other
branches OF insurance tell different tale. The
Fidelity and Casualty Company No. 14O Broadway,
IS one OF those which blessed with Overhowng
measure OF prosperity this year 1t was organized In
1876 rs the Knickerbocker Casualty Company, the
DR. sent being taken in 1879. In that year the
fidelity branch or of the honesty Of cashiers,
clerks, etc.. was added. This the first company
In the country to establish fidelity branch, feature
which at first patronage slowly, but in recent
wears has grown rapidly in favor. AT present
the premiums In this branch amount to $250,0oO.
Accident, employees liability, elevator, plate glass
and boiler Insurance also carried The total
amount OF business done In 1891 will probably be
So 600 900. william VI. Richards is the president;
George F. Seward vice president Robert j. Iills,
retary and Edward l.. Shaw, assistant secretary.
The title insurance companies have also a good
year to look back upon. The realestate year has
proved a fairly satisfactory one. 1t shows a steady
drift OF the raeatate business toward the title in
surance companies. The business of the Title
Guarantee and Trust Company, the Oldest and largest
Of these companies in the city, shows large increase
over that OF the year 1890. The tendency OF the
nubic TO deal In guaranteed titles is more and more
apparent The west side builders who have been
gradually marketing their houses In the year, are
largely selling with title guaranteed, saving their
purchasers all legal expenses, and delivering their
houses as the contract Is made, without walt
inr the thirty days formerly customary The COM
many Is also becoming practically large mortgage
exchange where the borrower gets his loan without
commissions and for trihing expense, while the
inyestor buys his mortgage and gets his money at
interest as soon as the mortgage Is selected. In
stituons executors and individuals find the company
an excellent source through which to obtain satisfactory
mortgage investments
The company has increased Its semi annual dividend
from . to 8 per cent It's officers John W.
Murray president: C. H. Kelsey, vicepresidcnt Louis
Windmnlier treasurer: Frank Bailey, second vice
president; Louis V. Bright secretary.