Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1895-04-06
BOILER INSURANCE.
The Hartford Steam Boiler inspection and In.
surance company-The Work II is Doinq.

Hartford, the capital of Connecticut.
has sterling character as to insurance.
and in this respect is widely different
from some other sections of the country
we might mention. The city of Hart.
ford has long been known and honored as
centre of legitimate insurance and the
home OF the strongest and most reliable
companies. Fire insurance has here
some of its lest and brightest opponents.
Life Insurance is represented in it's varied
forms by reliable, prosperous and success
full organizations. Accident insurance as
practiced on this side of the Atlantic had
its birth at Hartford, and has here grown
from feeble infancy to the large and grand
proportions now witnessed by the admir-
ing public in the old Travellers Insur-
ance Company and the Aetna Life Insur-
ance Company, which latter company is
now conducting prosperous business in
accident insurance.
Here also we find the pioneer company
of the world engaged in the, inspection
and insuring of steam boilers. We refer
to the Hartford Steam Boiler Inspection
and Insurance Company. This company
received perpetual charter in 1866, and
was organized for the prevention of steam
boiler explosions by efficient inspection
and to insure against loss or damage to
property. loss of life and damage to per-
son caused by steam boiler explosions
AS before stated, this is the pioneer COM
pany in this business, and since its organ
iZation has built up an extensive patron
aga.
The company makes an annual in
spection. both internal and external, of
all boilers under their care This is done
10y careful, competent and practical men,
who also make visits at frequent inter
walls Steam gauges are tested, valves
properly adjusted and weighted, boiler
| connections carefully examined and in
| formation is given relative to the setting
| ND and management OF boilers, all with
| a view to economy in use of fuel and safe
| ty to life and property.
Thorough inspection is the foundation
of this business, and is the best and only
safe guard against accidents occurring il
the use of steam boilers. Nevertheless
circumstances may arise beyond the
control of the steam user, Independent Of
any inspection, however thorough, which
would result disastrous, not only in de
struction of property, but loss of life ant
personal injury.
It is therefore we'll to consider thi:
point when reasoning.
The work of the company thus far ha!
brought to light many and dangerous de
fects, and the company risk nothing IL
saying that disastrous explosions hav'
been frequent, where boilers were left un
examined for months and even years to
gether. Incrustation, internal and ex
ternal corrosion, burned plates and bills
tiers shorten the working age and rende
them positively dangerous; the usua
mode of insuring, by applying the by
draulc test-takes no cognizance of thes
de fects and does but little towards insur
ing safety.
The work the Hartford Steam Boile
INSPECTION and Insurance Company ar
doing is of incalculable value to steam
users, and in fact to the entire public
The capital stock of the company Is 5000,
900. Following is statement of the bust
ness January l, 1898.
Abstract of statement January 1, 1886
ASSETS.
Cash in Office and bank, 500. sol 8
Premiums in course of collection, 2l5,SSl 6
L3 Srst lens an o 2sl,o2o q
| Loaned on collateral o,Uo =
: | Bonds and stocks, market value, 1,25l ,9oo y
| Real estate, BLEED
| Interest accrued, .W,oos
Total assets, S1,955,255 2
LIABILITIES.
Premium Reserve. S1,216,462 j
| Losses in process of adjustment, 25,557 5
Commissions, l950S 8
Capital stock, $780, w
Net surplus, 1875 10
Surplus as regards pol
icy holders, S693,126 10 os3,1Zo
|
Total liabilities, including cap
ital aud surplus, S1,sooZoo
.