New-York tribune., 1891-12-25

81 900 900 year: has a capital Of 81 .0OO,00o u
surplus of $4,000 and being IT. this fourlshin.
condition il naturally docs not desire to turn over
| its business to another company. The hanover
is forty years old, and during that time has never
passed dividend Even during the Chicago ana
the Boston fire years. which were disastrous to
insurance companies, the company paid It's div
idends regularly. During those dark days, the
Hanover did not think of selling the majority
of it's stock 10 English company, or to any other
company, and it does not propose to do it now.
1t is the last thing we wud think Of.
Il have also talked with the officers Of the
Niagara Company, and they have authorized me
to say for them that there is no truth in the report
that the Niagara has entered into any negotiations
with the Alliance, has any intention of so
doing in the future
Mr.. Lewis, who was seen by reporter for
The Tribune last night denied that he was here
for the purpose Of securing control of any Eastern
insurance company, but reluctantly admitted that
the Alliance at some future time might extend its
business to Canada. my business in New-York
is in reference to financial matters but those
matters have nothing to do with tne purchase
of any insurance company" said Mr. Lewis. 80 The
Alliance is satisfied with what business it is
doing now. Our profits for years have never
been less than 20 per cent. All our business
is on home risks, and the company insures nearly
81, 800, 900, 900. The Armstrong companies
insure $500 600, 900 and those figures
sidered high but they look small alongside of
81, 800, 100000. Our business is principally made
up on private dwelling houses. Business men can
get a good idea of the business do when | say
that our average rate of premium is not quite 1-s
per cent. That statement will probably startle
some of the American Insurance men, but it Is
nevertheless true.
But for the present--and / might say in the
future, too-the Alliance has no intention Of pur-
chasing New-York company; The directors dis
cussed that matter at their last meeting, and it
was decided that the Alliance had all the business
it could take care Of at home"
But the Alliance has already purchased the
controlling interest in the Union Company of
California. Is it not your intention to do an ex-
tensive American business through this concern ?"
MIR. Lewis was asked.
THE business we intend TO do through the
Union Company will be confined to the States
west of the Rocky Mountains We have no desire
TO attempt TO do any business in the East. The
directors came to the conclusion at their last meet
ing that good bus sness canrot be done so far away
from home. In addition to attending t. the business
which | have to transact in New-YOrk, | shall
complete the negotiations made some time ago in
reference to the purchase of the stock of the Union
company, and | am now on my way to San
Francisco to attend TO that business. | expect 10
before / return to England shall visit Australia.
where the Alliance has branch. We have had
interests there for several years
Do you intend to go to Canada before you
Il may do so, but I cannot say posi-
lively. The Alliance has no immediate intention
Of securing control of company in Canad2
as the directors have not discussed that idea at
any great length.
Il understand that this year has been a dis
astrous one for American companies No doubt
there is much dissatisfaction among stockholders
in many of the insurance companies, and 1t would
be a good time 10 secure control Of another Ameri-
can company, but we have no such intention"
Notwithstanding Mr.. Lews's statement that the
Alliance company does not intend to reach out for
that big translation of some kind will take
place in a day or two in insurance circles.