The morning call., 1891-05-05
INSURANCE NOTES.
A Salvage Claim-An0ther New
English Fire Company.

II the country which has no history is a
happy one the insurance men, fire and ma
rine. have the same reason for Self-congrat-
ulation, for there has been little stirring in
those circles lately. There have been a
few small fire losses, but no large confagra-
tons have occurred to make the world take
Oh blue tinge in the eyes of the Insurance
men.
The marine men have been equally lucky.
and no serious losses have been reported
lately. The chief matter of concern to the
marine men lately has been the tate OF the
| insurance pool, which is IN the state oil
deadlock brought about by the refusal OF
the shipping agents to pledge the whoie OF
their business TO the companies composing
the pool. q. w. McNear, agent OF the Ma
rine Insurance Company, Starr " Co.,
agents of the London Assurance, and CIR
vim, Baldwin q Eyre, OF the London and
Provincial, are the three agents who are
holding out. Since the formation OF the
| pool no business has been done at the
higher rates, since all the ships that nave
subsequently arrived had been previously
covered. There seems to be some doubt as
to whether the pool is in operation or not,
and the agent OF one of the largest marine
companies stated yesterday that II ship
not previously covered was to arrive he
would not know what rate TO charge.
The collier Wellington was t0wed into
port Sunday by the steamer Monserrat. As
reported at the time the Wellington lost her
propeller off the Columbia River. The
companies having the insurance on the cargo
and hull held Il meeting yesterday, aud a
committee was appointed to consider the
question Of what amount OF salvage should
be allo wed the MontSerrat. Its understood
that the MontSerrat claims $4,000. The
cargo of coai is insured for about $1,000. and
the Insurance on the hull is said TO be quite
heavy.
The steamer Record was reported as lost
on Sunday on the Siuslaw River, one Of the
worst places on the coast. The insurance,
| amounting to $500, was distributed among
the following companies: the Union In
surance Company $1,000. the New Zealand
Insurance Company $500 and the Fireman's
Fund $500. The Union held the insurance
on the hull, but had suspended their policy
as long as the vessel was running to the
Siuslaw River, on account of the dangerous
character of the river navigation.
The NeStche tier Fire Insurance Company
of New York have moved to more commo-
dious quarters at 319 California street, and
commenced doing business IN their new
Offices yesterday.
Another company which will also move
shortly is the Home Mutual Insurance Com
pany, which Will occupy new Offices in
Wells, Fargo ~ Co.'s bank building. on the
northeast corner OF California and SansOme
streets, in q week or two.
A new fire company has been formed in
Liverpool under the name Of the State Fire
Insurance Company. james MeLarea, the
SON of the manager of the Royal, has been
appointed manager. A strong Board of
Directors. composed of gentlemen promi-
nent III legal aud commercial circles, will
tide the company over its years Of infancy.
The first issue of stock, consisting of $4,000
shares, has been already placed on the mar
Bet aud 1t Is expected that further issue
will be placed at premium.
James A. Silvey, the Secretary Of the head
office OF the German-American Insurance
Company. has appointed George Ii. Tyson,
Assistant Secretary of the Fireman's Fund
Insurance Company, to be resident manager
of the German American. Mr.. Tyson was
appointed Assistant Secretary of the Fire
mans Fund at the last general meeting of
the Board of Directors aud adds one more
TO the number or local fire managers who
have received their training in the Fireman's
Fund.