New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-06-27
TO CONTINUE BUSINESS.
AMERICAN FIRE INSURANCE COMPANY
STATEMENT.
THREE
BROADWAY
STOR ES.

VIII, pprsrnrNr SAYS THE CAPITAL IS NOW
Only SLIGHTLY IMPAIRED AND THAT THE
COMPANY WILL Soon he IN STRONGER
CONDITION THAN EVER
The American Fire Insurance Company haa
formal statement make yesterday III 'es'
~. renor, Of Deputy Superintendent Isaac Wander
49,, -, ,ho stare Insurance Department. whose eN-
animation showed that on April 30 the company
c,itaI st ,cl was impaired $3o6p 81 The stationery
was prepared early In the day by freS''"' ''
crlck W Downer II Is as follows;
Mr.. David Ad,e for many yTarS having retired
Am,ricah, S On ,eronnt Of III hcnih Mr. Frederick
boTncr was Shgcn ErS'aSS s aP H Of The
pany. being already aware oil rresuat hes, 10 cali
49,, ,be Insurnuc. DEPARTMENT The result OF u.s'
iwo examinations nearly coincllel' Sn,m'"e u,stand.
me risks with two exceptions. We're r'sn'', n ~
rhcnx INSURANCE oon2amy ~ ,a,d ths yrfor go the
n nS is rreyed Of these abnltes besides being
Nn',,,,t -, mo substantial amount received as u
hn,n Tor the business. some agencies and certain
classes ~ risks hay" been dsconlii,,ns" s"ccess-
company Is IN good shape FOR continuing '"'
Sine. the 18th q May NJ to which TINE nr fSnSn1
nner WAS ,i,,.n and ony 81 6ci lo-. incurred The
company now has t2'"" of uhinptll"r ''P'' n,."r,
II. assets are represented by cash ara soon ,d
lies and when the requirement ~ IN" Sipeilm,,t'r
en-, 81 Insurance for the return 81 sD' IN !, ~,
,,i, re.,or~ IN. fnli capital to $1,000" There are
NO liabilities except what can lee me- py w" .n''
.,r ,ke oapi,ai TO ana increase The surplus
4, tsarn ana o. place an experienced unh'r"il''
If, ~. pf..lIency but The requirement 81 10. S"p'r
lr;cnlen' ma, cause som" d'lhy IN p',.''""S "'
,,r,ngirg plans under the new conditions
pr.4ilen, Downer said IA addition to the f'rm''
.,,,emcn, hat the company viii 60 right on WIN
-, h,.to.-. we s,in retain the confidence OF our
AGENT. throughout the country" said Mr. powh'r'
md We Will boz put into stronger condition than
ever rs the r,oreaniration
Mr. I.Nnc- saiI that meeting hai been ca''n
for tomorrow
pa,y Was perfectly sound About IN" "''" ''rS'
l.,, Alec retired. the resignation Was accepted OF
william II Crolus. then secretary Mt "ool S"'
~. ,.,,r, nat Mr. crol.us had been dismissed was
49,. ,r,e Il believe" added Mr.. wood. that Mr..
cr.lius is perfectly honest. The wors, that can he
.,,t ,r,lu., him f. bad business judgment The
.,,.t,,. ~, ia ~ ,ecovo surplus IL entirely volun-
,,,, IT, fact, We are not obliged TO raise a dollar
,,,.,, o., t.pay th. 5000 which Was paid out IN
i.,f.,t- pur capital AT the present time IL only
..,.l d, .b. extent Of about - per cent The
,,.,,i,,,t. from reinsurance have reduced IN" I'M
,,,lrfn.nf ., $500 which VIII he furihet r'""'''
h., ,,. r.,a,rnon, u the 5000 In DIVIDENDS
meeting Of the Executive Committee OF the
po,f az Directors 81 the company Was held y'S''''
day afternoon. and It was said that the ""e'''"h
was purely II a routine nature.
lanes + Pierce. STATE Superintendent OF ihSu''
anr. s,ll Yesterday The American Ere ln~u',
auc. Company doe. an Immense husih.7S' an
reason why - cannot ="
h, has carr. = .ut the suggestion OF inc N'"l
r.v-trn.ral tho chief legal orc"r OF me Sat, ~
regard ia. restoration u me rNin'i'ns Mn,
,l.n i RS added 10 iiS assets. and the amount or
lnuAlrr-nt t. now probably small