New-York tribune., 1900-10-30
HEAT T7Y INSURANCE LOSS.
TWO WRECKED STORES ALONE HAD
POLICIES OF NEARLY 100000.

Fire insurance men sick at heart last
night. Their losses from fires in the United
States have been tremendous in the last two
years. great many companies have had nara
work to keep their heads above water, and a
number have gone down and out under the
burden. And New York City has furnished her
fair share of these great fires Now another
staggering blow has been dealt and those who
follow the business of fire insurance are Won
dering where the carnival will end.
The insurance loss from yesterdays fire is
placed by a conservative estimate at 100000
and the property loss at over million. Some
Insurance men place the losses higher. and every
one who was seen last night said the insurance
loss would easily amount to more than half
million. The exact figures will not be known
for several days. The only men who could give
this information last night were the insurance
brokers' If they could have been gathered to-
gether and a diagram of the burned district
laid before them rough estimate might have
been made. But almost every insurance broker
in town went to the fire just he
heard the explosion. They raced up Broadway
with the rest of the crowd, and they stayed at
the scene of the fire until dark. Even at that
hour those who were approached declared that
an accurate estimate of the loss could not be
made. They pointed up and down Warren and
their hands in despair
You can't measure a thing like that" said
one man. Look at the territory that is dam
aged, for one thing. No one knows yet just how
far the damage has reached in any direction.
Then. consider the different kinds Of stock.
chinery and fixtures in the different buildings.
Consider the buildings themselves, and remem-
Der that the insurance on everything is divided
among scores of companies No man can give
a careful estimate of this yet but there is not
one Of who does not believe that the loss is
we'll over 100000"
The New-York Board of Fire Underwriters
had received only report from the fire be-
fore closing their office last night. This related
TO the shoe store of ]. s. Coward, No. 210 to pa
Greenwich-st. The stock insured for
$4,000 and the building for $1,000, making a
total of S107,J00 The building and stock
probably both total losses, The insurance placed
on the store and warehouse of Eppen, Smith &
Weiman, Nos. 1O3 and 1O5 Warren-st. and Nos.
26l and 269 Westinghouse, coffee dealers and
roasters, was also learned last night The War
ren-st. building insured in the German
American Fire Insurance Company for $4,000
and in the Sun company, Of London, for $4,000,
and the machinery and fixtures were insured in
the German-American for $1,000. The Wash
ington-st. building was insured in the st. Paul
Fire and Marine for $500 in the German, Of
FreepOft Tor SO,UbO, ana IN the treemen S, OF
Newark, for 5000. The machinery and stock
We're insured in the Queen for S17.5OO, and in the
German-American for $1,000 Thus the store of
Eppen, Smith & Weiman insured for a
total Of $I1,J00. The store is without doubt a
total loss.
When it is remembered that these two stores,
which were insured for almost 100000 between
them, form only fraction of the total property
loss, the tremendous extent of the damage can
be guessed at. Insurance men spoke of it last
night in light tone.
The hard part of it," said one Of them, 'is
that there was eXplosion-there WERE in fact,
several explosiOns-and yet every company is
liable According to the New-York Standard
Fire Insurance Policy, which by law is the only
form Of policy that be used in this State
the companies not liable for fire resulting
from explosion. But here, everybody
knows. the explosion resulted from the fire.
which the proximate They are all
liable
remarkable incident of the insurance loss
insurance inspector for of the biggest fire
insurance companies in the United States.
I know him personally, and know this to
be true" said an insurance man last night He
inspected the Tarrant Building week ago. He
said he inspected it carefully. and in his report
he declared that there was not an explosive in
the building. Anybody who was within half a
mile Of the building yesterday noon will not be
inclined to agree with him. Very alert inspector,
wasn't he?'
Rather hard on his company" suggested the
reporter.