New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-24
FIRE INSURANCE COMPANIES.
TIE LARGE NUMBER OF METROPOLITAN CON-
Germs ENJOY WIDESPREAD CONFIDENCE

Germs ENJOY WIDESPREAD CONFIDENCE
AND POPULARITY.
7. seems hardly Necessary at this late day t.
point out the importance OF fire insurance III d
community WHERE property values are enormous
and OF constantly increasing proportions. While
New-York has been singularly free from dis-
astrous fires during the last few years, the
damages wrought by and the losses incident 10
this element OF destructiveness have left no
doubt in the minds OF the community at large
OF the necessity for protection such as is al
forded by fire insurance policies placed Win
safe and reputable companies
In fact II has been demonstrated quite re-
Gently that the so-called fireproof building is
not in reality freproof. The burning OF the
upuer floors Of the Home Life Building brought
the public face to face with actual CONDITIONS
which I'D to that time had been merely surmised
The first Of these as has been suggested, was
the -act that the so-called freproof bul'dihS
was not proof against flames and the second
fart which was apparent to all who watched
the progress Of that fire. was the inability OF
tho Fire Department TO fight it in the upper
floors of the tall building.
The chief Of the NewYOrk Fire Department
has often pointed cut the danger OF IRE IN ,he
sky-scrapeIs. The fire in the Home Life bui'u
Inc WAS the fir demonstration or the e''i'
against which he had protested III mas Que"
,oo,, urged that the height of buildings could be
limited by law, and some such legislation is MOI
unlikely 10 be introduced. In the mean time
however innumcrablo buildings in this city rear
their heads aoft, and whatever is o"hc III '"e
future in this matter will simply be case OF
blocking the stable after the horse is gone
The skyscrapers are here and add TO the many
problems Of fire insurance. Every day' ia id0'
brings rev problems TO these companies
The law OF average that bears upon the rela-
ton Of loss to premiums Is constantly c'osS''
NV the laws of the land as set forth by the leSs-
lators and changing physical conditions 'i'aNe
the most carefully compiled records oil eApe-
riencc ard calculation practically "or'i'ess'
In tbo olden days tie manager OF ire Of
eoo~ charged a certain rate of premium because
,ba, had hecn the rate FOR many previous years
on eimilor risks To-day. one policy covers d
hundred hazards which were then LrknoNn anu
tho nicest discrimination is iequrcd 10 W
,or,nine the probable risk and possible loss. In
,b;s civ the methods Of research have attained
q romarkahle degree Of perfection, ana inc Du-
roam Of experts here is k,enly awe 10 t"e IN
nor,ance Of the many problems pfesehteu'
most careful study is made OF an re" 80
oeeoe and conditions which are likely 10
AFFECT the fire hazard OF any premises, III, 80.
tinCuishing apparatus Is tested an ,,, ave.,
Of on
.,siad II, their relation to the fire risks
Several distinct changes are houseane III S S,ro
methods of doing business adopted ny 'le , mr.
tncurance companies OF late IN inc case Vi '''O
fnreen companies especially there has peeh a
marked deviation from their former course. ~
was the custom in previous tnles 10, SUI
comnanes TO transact their business 'ious"
Lranches located in this country NOW now
ever. they find it to their better interest 10 or
vanize distinct American companies. me ihvei
80 80 :, ~ I opdon and Globe one Of the iirSt To
adont this method, and on May 20 ISL the
Roval Exchange entered the United states ap
,,nintinq nc trustees Roosevelt Graves Kolstoh
aand CHARLES Ferdinand Hoffman. of New ork,
and as manager Robert Dickson, or san rfa an,
cisco In the same year deposit OF s-V"o
,ras made with the Insurance Department Oh
Massachusetts in order to comply WIN the dc.
nost laws of the various States deposit OF
$50 600 was also made with the state treasurer
OF oregon. 49,, .o;oo, oo,,-
In the organization of these American com
panies from foreign pa-entage they nave Deem
canitaljZed at about $2OO.OOO each.
III. rn.r;can companies organized In New