New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1896-06-14

~oRNApO i'''
,.sr TIE LIMIT OF RISKs-ONE
SCHEME THAT FAILED
- 81 death Of so many valuable horses
The pr'. 4, the American Horse Exchange sug-
~ the - question o. Insurance upon booded stock
esis M 49, ~ This country The unfortunate Incl
Il all NJ" so,o,onod the fact that this KIND Of In
Rn 10" Aos grown to be common. ana that II Is
s'an~ ~ ejaculation. based on premiums, value
na"r which makes 1t possible TO insure
ID f,"r as high as $4,000 and other horses ac-
p-nnc 10 their V1I"'' anu "''" '"'
King horse at Wv .o,... .so. ,.o ,rs.,~oss
'',,oh,s racing horses have been insured as
,a.'s .,o ooo are rare There Is one fire Insurance
20 ." a., this city which makes specially of
ss2~"' horses in the $3.50 line" as the officers
'~omoanv cal .t--that is to say. S23OO is the
81 Insurance which the company ". allow.
,rever does not necessarily prevent other
",.s from writing policies to the same amount.
- total of $4,000 insurance upon the ami
= son why a fire insurance of $4,000 to $4,000.
i"aSnn the most valuable horse. is rare In
90 'pD ,ha, the risk is undesirable. because as
p'~ horses are moved from point TO point
rS -, the country. and so are subject TO fire
rN"s.A,cb they would not encounter were they
HN ,riyate stables constantly.
~ Torrance companies it Is understood. prefer
i' ~. ,he ordinary run of horses and cattle to
" "' rsks upon the b,oOded and higher-priced
r''"s s.ock still. the matter resolves itself to
a@ orsmiums after all except In extreme cases.
OK 80 upon racing horses and roadsters and
So, IDS Of cattle. including valuable COWS and
ne conducted not only by fire insurance COM
~, ~. M, also by accident companies
MEASURES OF PROBATION.
.a,.- ~ one OF the wel-known fire insur-
q" ,,anies of this city said yesterday: THE
HF :, ,ng,rlng the lie OF a horse against IRE
".,.h,s ANY one may set out TO get lac
20 go m an animal but we insure horses only
50 .. know the owner or satisfy ourselves that
" - rspsble Our company places the limit OF us
" = rnon horses at 900. We also insure not
r;1iA".s cattle but cattle In saugher-houses.
.p large amount of insurance carried by many
,o,ca conopanies in this line. The stock
y ~.r,s is included In this line OF insurance.
~ :, comes 20 an animal Of unusual value then
Sr,, may be fixed by the policy OF the com
,,,t may be a question OF special CONDITIONS
,ho owner Of the valuable horse takes
,-ocau,ion TO protect his property. This
,-,,shes the risk to the company Where horses
,n nrivato stables the risk OF injury from hre or
s,- causes is much less than IN general place
-. !. ..rnorarv accommodation. like the American
arss Exchange III,
n oBcer Of another fire insurance company said;
some fire insurance companies IKE ours W."
.,,. a & 900 insurance on valuable horse, and no
.s We make our average limit al $50. OF course
ale soas not apply 10 valuable horses We 90 not
,nle insure such horses. We take our risks
=, the he's, class OF working horses. They are
,.,.-alv well taken care OF and are kept In private
CABLES There are companies in which one can take
~, an Insurance OF 5000 on horse, but as a RUE
h must divide the amount among FOUR or more
conpan.es There is no trouble IN ohS ser''.s :
so.as insnred A large business !s done IN tnat
s-seon In private and boarding stables Inc rates
N rr,yste stables are less because OF the greater
security.
EvADING THE LIMIT.
"Vhen 4 comes TO the owners OF valuable horses,
hey do no, wish them burned, not merely because
n. their intrinsic value, but because OF the breeu
which owners may be unable 10 replace All insur-
,ncs companies have limit to the amount OF insur-
,,ce they Will place on valuable horses or cattle
"a vet thev NAV &c. around this by allowing an
twner 10 take out the full amount In severa! COM
pn.es ,, A.. ..-.,.
company one of the best-known in the city, whose
hsaiquar,ers are in Broadway, said The average
Insurance upon blooded stock against fire Is,
ssoIA say only about $3.50 a head. Extraordinary
coniuols however may allow an unusual amount
Of Insurance. There were horses at the Horse snow
In Nsison Square Garden which were insured as
hyh Is $500. OF course. the premiums were high;
Insurance on valuable horses and cattle is a good
risk would insure 10000 on blcoded horses TINS
afternoon If had the chance"
One Of the leading companies or tho city mas a
sDsclal form of insurance for horses and cattle
Eaeh is known as the tornado policy This ex-
eu.es the elements OF fire and lightning ana pays
.r the injury or death OF the animal from wind and
rain only While this form OF policy Ia little used In
n. Eas; Il Is quite common in the West. The com
rany has paid number Of policies OF this kind as
Tie result Of the cyclone IN St LOUIS.
ANIMAL LIFE INSURANCE."
There have been attempts to insure tho lives OF
vlxbe horses and cattle in general. An officer OF
a sss Insurance company said yesterday "A COM
pany was organized in this city some twelve years
ego as what might be called an animal life insur-
sncs ccrporation. 1t proposed to take risks only
s,on the best class OF horses and cattle. Horses
howeyer were the chief element in the insurance
The company had offices in Broadway, Just above
Maiden Lane on the east side. There were two or
iaiee other such organizations started about the
'sne time They all went to pieces They found
Ia, the valuable period OF horses hfe is at best
',y about ten years and hence the risk was out OF
al proportion 10 what could be secured In pre-
-igms"