New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-09-23
INTEREST IN THE SNBJECi Nv '"' '"N
1Ssr.p AycE MEN STILL DISCUSSING THE EorlT-
arr Lawns APPARENTLY 50 MANY OF
THESE CONCERNS sIANiHD
ABOUT THE SAME TINE.

THESE CONCERNS SltNii'"
ABOUT THE SAME TIME
Interest I'm the article published In The tribune
on Friday about the Equitable Lioyds s.oppi,s
h,e,noss and reInsurjng in the East River Mutual
Insurance Company is undated, and 1t stii 10TH
tho chief subject Of conversation among ihsui""oe
men, Many of them do not agree "i'h '''e op
70, EXPRESSED by some drygoods merchah.s-'"
the,, ala not think the Equitable Lloyos goins o
., rho business would cause trouble among .the
other r,ovIs The following interview with r
:, Noorc the president OF the Contlnehtai IN
srrance Company is a sample Of the way most o.
the well known men in the IRE insurance o''
,al about ,hc subject When Tribune reporter
saw Mr. Moore yesterday and asked for MS op'"-
ion IF the Iloyds plan OF Insurance, he saia'
There are n number Of ASSOCIATIONS Vi ''
character which are not only irresponsible ~
osor Of tho inability of their subscribers to make
good their promises to pay in case OF 1883 p"' 49,
bv reason Of the incompetency from d" "'''''
writing standpoint of those VINO are ihfiae'''e
them; inasmuch as the security OF properly
owner for his insurance depends not mercy "pY'
the responsibility Of tire insurer but also upo' W.
sumciency Of the premium collected BON oi
these features are important In the c"Se
stock insurance company there Is Always O'P
standing behind the premium fund so ina. e'.''
II the rate be insufficient by reason OF the IN
capaclty OF the manager, the capltal may
GOOD any loss; but IT is not so Win many - In
IIovds whose subscriptions for capital are s'""''
and whose rates are inadequate.
- v,ish to be perfectly square to those WAC are
engaged in the business OF Lloyds ihsu'enc' an.
To say that there Is no reason why the ous'i
insurance cannot be az safely conducted oy Ia
aiylduals associated t.loyds as If associa'eu !"
stock companies leaving of the question, Oh
course tie important factor of Insurance capital
which Is a feature Of the sock coinpdni"e' anu
what EFF sct do you think ne reinsIrtnce oL us
Equitable Lloyds VII! have upon the o'ner h'o'''
no his
5nk it viii naturally have the effect OF s diS,
as 70 the POSSIBLE reren Of 9jasr ven 10 the
II viii result in the loss OF business ea,ire OF
m95c w6d Rnsen the failure Of those VINO are
w@fK " 6 yoa account Tor the number Of Ioyds
which have sprung 80 rapidly mo fhe Nrw-York
p,iSg no not even T&xins them stock com;
psnies are taxed Moreover The Lloyds wn2
n tue business were suPIoseI d ny .on Of
iibe, fact that The losses Incurred seemed to pea
small proportion 20 tnr HIT' ~ 'i' new bus.-
ness Policies written for ,ern u one one Wear
or o,, n'rI tbe end Of the year in which the were
issued have. on an aver i$e 7!n n,',,ro ,.iyei
in wear may be said % belong 70 tue insurer h d.
the end OF the ygSr AMI hs losses Tor the year
sSouli be- Only % per cent Of the premiums RE- ef
ceiyed in the year tnsy woT1 o. 10 Nv eli III his ovn
ana n",Sing would be loft Tor expense. a..
"o ",n yon account for many IIoyds 1omp1 hes
s,,rfinR al about ;he same time! ,.s..
- f. was discovered tia, tho recent cod.nca,
t -; i.o9 Of the insurance laws n4d by Soii 'r
gn ry,1h ,ft the door omen for the orgdniE III
Of Ll5yds without the res'r'''oHS rae a" '0''
referred to- , .....-I,, f~,in
rh. following letter was receive"
,he attorneys of the Equitable LioydS
r. tho riitor % The Tribune. ., ,,--.c.
Sir. Re,ng convinced that YOU are reiuy - 10
49,, .rro- .specially that has tr"i,T1OS ;o,,D
a." raatn a wrong IMPRESSION We detre 70 ~ ~;
,,"n.ton - the articles IN your ISSUE " t-ire
and 2si inst referring to the F.4u,,,,asa ina;
I".is hv which the impression j. on, rur,,n,
MANY mas suspended payment = o'mh, ~, -
III uttoyv ruined We would k'ndly arr ri Enu .
49,, =, ,his in your issue OF tomorrow" ne i-iI
.,i,a l,ire Iloy,ls has not suspended pays'e,
" 4, n any distress whatever. ~ uuS'''' NJ ~.
M " f,,inl that tn profits u the ousihsss ~ ~" -,
u,r ne risks assumed. therefore, derIneiu ~, ~
,rIsrwrtlng and cancel or relnsuir a.! H.
- The latter Was effected with the r.ist ~
t,,,,i rne,,rancr Company. All claims asaist ne
Gooi,abc FIRE Ll0yds VIII be promptly pa ~ a.
,io, al the office Of the atorneyS; Sc ="
Pine-St. -, .-,,c,as
Tho Tribune dd not say IN eithes y. '"e 49,
,.t o., ,h,, the E1ultabe Loy-s had "suS-
nsndel paymeut Is bankrupt ana utterly ru',eu
f. ,ras expressly said tina, the company Wo',L Pc 1y
Lol"r fSr dollar But all the same IL s'au''
ur.nr,t the above letter