New-York tribune., 1897-11-21

INSURANCE MEN HERE SAT THAT THE DAMA"E
WILL. NOT EXCEED 100000 AND THE
INSURANCE HALF THAT SUN.
The extent OF the pecuniary loss caused by the
big fire in London 1t is now understood here no.
nearly so large as was first reported. In the earliest
reports received in this city IL was said that 'he
fire had destroyed at least 100000 worth OF prop
erty According TO dispatches sent yesterday from
London, how, ever. to the representatives IN new
York Of the leading British fire insurance coii-
panes the total loss will not amount 10 more ina"
81 900 600 while the liabilities of the insurance co-
nantes will not amount to more than half that sum-
The field of the conhagraton was not. as al hrst
supposed centred in the important drygooos us
trict OF the English metropolis but was co"''ieu
10 the neighborhood devoted to the manufacture VI
the lighter sorts of drygoods. SUCH as Hihses'
trimmings collars, hats, necktles and fancy goous
generally individually the stocks carried IN the
burnt buildings were not comparatively OF great
value The less from a monetary point oI VIC"
would have been infinitely greater had the IRE o0'
Cured 10 the south OF Cheapside. where between
that thoroughfare Cannon-st' ana e. a au
Churchyard are nassed the great drygoods houses
OF London The burned buildings were In no case OF
great value, and comprised mainly three ana lour
stored establishments facing the narrow streets
which helped so materially TO spread the names.
Among the insurance men in this city the opinion
,s EXPRESSED that the fire will not cause moments
embarrassment 10 any OF the companies carrying
risks In the destroyed district 1t Is unoerstoou
that the Sur Fire Insurance Company "hch uoes
the largest insurance business OF any company IN
England and which will probably be the largest
loser bv the fire. will not be called upon to pay out
mora than $4,000 Despite the large area In which
damage was wrought. therefore, the losses are not
esneciallv serious This much is apparent when
4, ,e remembered that there firms in this city
that OF Stern Bros in West Twenty thrd-s,,, io %,
example-which carry insurance 10 the amount %
nearly s250o.00 ,,u,,o. ,nourred bv the
rot be known in this city until tomorrow or iTo
day but IL learned yesterday that oily ~, ~
American companies were involved to any extent
These two companies the American. OF Pnila-
delphia and the Phoenix, Of Hartford j. !. fur, c
con,nanv said Yesterday 10 Tribune reporter
"'rb4 extent Of the losses in the London IRE nave
heen greatly exaggerated In the dispatches sent 10
the or pa papers % rYoVad avn a9eetber The dis
trict was not very rich one, ana was gwen @ osel
to small manufacturing firms end warehouses
holding only light stocks None OF Inc Tg 1s ;,ao
will probably range from about to'VW 10 tgy,vVo G
There are many small insurance organlzati@ons @
be pinched a little because, while they have small
er resources than the large companies their losses
may be just as great We have not yet received ',
be impossible for me to say how much the Sun
company has suffered
r D. .Belheld, of the Imperial Insurance Com
Of also haa ssG sear hat 1St more The @
mands upon the insurance companies. he said
would be easily and Immediately met
ance Company, Of England said II 10000 will
easily cover the damage done by the fire, and the
insurance will not amount 10 more than half that
are such concerns as the County. Westminster
Law and Hand In Hand which mainly confine their
FIRE insurance business in and around London.