Waterbury Democrat., 1900-12-26
FIRE INSURANCE ASSETS.
Results of Examination of Twenty
 COmDanieS


 Actuary HaWley of the state inSur- ance department has been making eX- aminations of the fire insurance com panies of the state and Insurance Con- missioner Scotield has accepted about twenty of these already. The others await his consideration.
 For the Connecticut Fire the report finds everything satisfactory except to change the column in which to enter the nonresident tax paid, says the val uationS of securities are conservative, and pronounces the system of accounts "clear and concise, enabling the com pany to close it's books promptly as of December 31 and complete the state ment for filing and publication early in January" The company's state ment for December 31. 1899, is accept ed except that the sum of S39, 12o is added to the surplus.
 For the Orient Insurance Co the re- port criticiSeS the valuation of fore closed real estate and recommends eS- timating that at the face of the mort gage. Other details are also discussed and the net result of various changes is to reduce the surplus from $153,- SG9.S1 to $694 .266.66, a decrease of $59, ,633.15, which is altogether incon- siderable and equivalent to a f1uctua- tiOn of less than three points in the market value of the securities.
 The statement of the Phoenix Insur- ance Co is accepted without any change whatever.
 In examining the Lion Fire of Lon don, whose United States headquar- ters is in this city, Actuary Hawley raises the objection that the company has a Pacific branch which makes monthly reports to Hartford headquar- ters and he considers these insufficient. He declines to verify the statement, but reports on details of the company's | statement and business. AS all famil- | jar with insurance matters know, the 1 Lion is a company of great financial 1 strength. The New York department accepts the statements that are still held in abeyance in Hartford.
 Regarding the Scottish Union and | National, the actuary makes q number | of slight changes in the figures and | alters the surplus from S1,714,9 ,9S4 to | $1,652, ,2T3. The change is altogether insignificant and less than the possible | daily shifting of any line of $4,000,000 | of good assets.
 The MiddleseX Mutuars statement is | discussed at length and the surplus is reduced from $6S9, ,026 to $66S. .153, q | reduction of about $21 ,000. This com 1 pany gets an unusually long report and it's relations with various local manu- | facturing companies are discussed l Bonds of the w. B. Douglass Co and of the l.. B. Brown Go to the amount of $35,000 are taken from the list of loans and added to stocks and bonds 1 owned. The official declaration that l a mortgage bond is not a loan is. how | ever open to question. The interest ing point of the Middletown report is it's account of the affairs of the Keat- | ing Wheel Co. It is stated that with | $110,000 par of its own stock as securi- ty, the Heating Go has secured ad- vances of $23T ,212.50 as follows: | Middlesex Mutual ........$ 37,S1250 Middletown National bank 3G,9OOOO Central National bank ..... 2,50000 Middlesex County bank .... 15,00O00 1 c. D. Rood ......'......... 125,O0O0O A. J. Garford ............. 20,0O000
 $237, PIP 30 The report quotes Governor Coffin, | president of the MiddleSeX Co. as say ing the Heating stock would bring 70 | per cent of its par at forced sale, but Actuary Hawley declares it '.at the | present time almost worthless" 1n- | terest. however, has been regularly paid on all this. It will be seen that the net result of the changes is alto egther immaterial as regards the con | dition of the MiddleseX Go. | With the National Assurance Co of Dublin, Ireland, the report adds about $3,0o0 to the surplus.
 With the Security Insurance Co of New Haven the surplus is reduced by about $7,000 as the net result of a number of changes here and there in the various items.
 No change is made in the statement l of ha of hA To f. ford County Mutual.
 Among the mutual fire companies trivial changes in the surplus are made as follows: State Mutual of Hartford, decrease $1,126; Greenwich Mutual, increase S132; Danbury Mutual, de 1 crease $1 ,229; while there is no change with the New London, Pennington Valley. Litchfield County, Mutual of Norwich, Rockville and Madison Mu- tual.