The daily morning journal and courier., 1900-02-10
STATES INSURANCE BUSINESS.


 Commissioner Schofield.
 Insurance Commissioner Schofield has just issued his report for the year 1S99 The report is fifteen days earlier than usual
 l The commissioner says there are 149 companies doing business in the state. Ten years ago there were 11S. The report says: "The Wooster h. surance company of Danbury was, up- on the application of my predecessor, adjudged insolvent by the superior court court for Fairfield county, on the 27th day of June, 1899, and Horace Purdy of Danbury was appointed and qualified as receiver. The inventory of the property and estate of the com pany, showing estimated assets of $20 192.90, was filed in court for July 27, 1899. The affairs of said company are still pending for settlement in said court"
 In speaking of fire insurance and loss es by fires Commissioner Scofeld says
 "The business of fire insurance during the year 1899 hasenot been attended with gratifying results, and is not cal oulated to inspire confidence in the methods and practices which have been and are now being employed While it is true that the ratio of total losses incurred to total risks written has been greater than that of former years this does not alone account for the unprofit- able showing on the part of many cor porationa.
 "The fact is that competition has been rampant and it's spirit has 50 pervad- | ad bo h11c trp q tn ta Ii tion to premium rates. Until some means are devised whereby companies will provide for the establishment and maintenance of fair, just and equitable rates, based upon the experience of the business for many years, and will dis countenance the re-insurng of risks of companies organized for speculative purposes and having but an ephemeral existence, the outlook for profit from | fire insurance is far from encourag- | ing"
 | He knows of no legislation that will remedy the evil; 1t must be left to the managers of the insurance companies. l He then presents a set of table, He presents several tables from which it can be seen that the total admitted as- sets of stock companies increased in 1899 $1,045, ,993.13; Connecticut Mutual companies increased $39,3S107, while mutual companies of other states de- | creased $5,09O63.
 The total liabilities of stock compa- nies increased $s,1321S4.51 while the mutual companies of Connecticut and other states decreased $61,096.7s. In surplus over all liabilities the stock companies decreased $7,0S6, ,201 3S, while the mutual companies (Connecti- cut and other states) increased $95,- 37322.
 Commissioner Scofield says that real estate holdings by the companies have decreased s1s3,97249, mortgage loans decreased $163972.43 mortgage loans on real estate have also decreased $3,390,- S517S, while bonds and stocks have in creased $4,O96 49726, and loans on col lateral are $546,514.S1 more than in 1S9S Cash on hand and in banks has(decrea5Al ed $1,579,57S25, while net premiums in course of collection have increased $1,- 046, ,479.
 The net unpaid losses of stock com panies have increased $1, ,1s5, ,09S. .O4 while | Connecticut. and other state mutual | companies decreased $5,937.S6. I
 Stock companies have increased their | unearned premiums $4220, 500.65, and | mutuals fell off s45312,26.
 Net premium receipts show the stock ! companies gained $4047, 31463, while the | mutual companies lost $43 170.S3 in their | net premium income for 1899
 In conclusion the commissioner says l after review of the whole situation, | tabulated and exhaustive:
 The total net losses paid by stock | companies increased in 1899 s14, ,237, 15 | and total expenses of management also increased $1,975,S75.07. The Connecticut mutual companies losses were $19,- 82659 less, and total expenses of man. agement also decreased $3505S5, while the losses of mutual companies of oth- CT states increased s54,68206, and ex- penses of management was $1,465.07 more in 1899.
 Net premium receipts show the stock gained s4.35O, ,125.77, while the mutual companies lost $4S,170.S3 in their net premiums income for 1S99
 Receipts of stock companies from all other sources increased s2024. 946.30, and the decrease.in mutual companies was $10,103.07. The total income for 1899 of all companies, stock and mutual, in-