The herald., 1897-09-30
CONDUCTED BY GEO. A. DoBINsoN
there has been a great renewal of activity t,


in the mines. He says that several districts
have been found and new placer beds have
been worked by new men who have taken
out thousands of dollars. and he adds EN-
formation which is reliable, from gold
camps throughout the territory, strength
ems the hope that New Mexico will soon
reap the benefit of genuine mining boom.
Never has there been such interest since
the advent of the railroads in the mining
development of the territory, especially
near the Colorado line" Governor Otero
says there are 100000 sheep in the terri
tory, that fully 15. 900 of the people are sup
ported by the wool industry and that last
year was the most advantageous ever
known in the business.
Certificates Of deposit OF the Brooklyn
Elevated Railway company. amounting to
$l1, 600, 600 have been placed on The unlisted
department of the stock exchange. The
stock of the company is placed at $13, ,000, 900.
1t was reported by some of the dealers in
Wall street that this was a move toward
the consolidation Of the Brooklyn surface
and elevated roads.
Insurance
National Supcrvision.-The absurd and
In some cases the outrageous legislation
that has recently been enacted In some of
the states regarding insurance should tend
to crystalline the growing sentiment in IA
vor of federal supervision Of insurance.
In the forty legislatures that have been in
session during the present season, there
mas been manifested a greater degree of
hostility to insurance interests than ever
before, some Of the bills introduced being
or such nature that, had they become
laws, they would have rendered 1t i'm
possible for the companies to do business
under them. While the majority of these
were killed in one way or another, there
were still sufficient number Of obnoxious
measures passed to cause serious alarm
and to compel companies to entirely re-
form their methods Of doing business in
certain localities. The feeling that inter-
state insurance Is a necessary factor to
commerce between the states and conse-
quently proper subject for congress to
take cognizance of, is growing, and the
day is not far off when that body will be
asked to establish system of federal SUI
pervision of insurance. At present the
business of insurance, employing hundreds
of millions of dollars Of capital, Is at the
mercy of the legislatures of several states
The restrictions and burdens imposed upon
the responsible companies by them tends
TO increase the cost of insurance to prop
erty owners, and to encourage untrust-
worthy concerns to impose upon them
Lack Of uniformity in the laws of the
various states creates confusion and
greatly adds to the cost Of doing the busi-
ness. If supervision of insurance is
deemed to be essential FOR the protection CT
the public, 1t would be to the interest of
that public that it should be uniform
throughout the country and administered
at the least possible cost. One department
acting under uniform laws and regulations
would be preferable to the forty-fve now
In existence, each with q different code
of laws, requirements, regulations and
schemes of taxation, which are subject to
change at every session of state legis-
lature-The Spectator.
\ \ \
The killing Of Henry @. de Graeyer by
Park Officer 8. w. Harper some years ago
was recalled by suit tried in San Fran
cisco day or two ago. De Graeyer at the
time of his DEATH held a policy of $4,000 in
the Fidelity and Casualty company of
New York. The company refused payment,
claiming that De Graeyer, by threatening
the officer. had violated the terms Of the
policy and discharged the company from
liability. In the suit tried jury awarded
Harry Gardiner de Graeyer, a son of the
deceased, judgment for the full amount of
the policy with legal interest.
81
The receivers of the Massachusetts, Bene-
fit will file an inventory of the assets and
liabilities of that company with the court
in day or two. The assets, it is said, will
| show a material reduction from the sum
generally supposed to be the property of
L the company.
1t is said they will not .amount to more
than $400, 900.
. Mining Stock Quotations