Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-06-07

Next regular meeting OF State Board
of Assessors in Augusta, Tuesday,
June z, at 10 A. NJ.
Next Meeting of Commissioner. of
Pharmacy at Bangor, "Wednesday,
June 8.
Railroad Commissioners Will Have
Hearing on Petition Of Brewer for
Grade Crossing at Brewer Jet. Sta
ton, Tuesday, June 7, at 2 p. M.
In view of the fact that the out Of
state Insurance companies doing bust
ness in Maine paid losses to the amount
of Il.ib per cent. of the amount of
premiums collected in 1903 in the state,
il is Interesting to know that there is
no reason to doubt that the fire losses
Of the entire country this year will be
the greatest ever known. Obviously an
increase in the losses means an increase
in insurance rates. How much this in
crease will be felt in Maine is hard to
say, but that it will be to n considerable
extent seems certain in view of the con-
Gtant increase of losses here. For the
year 1902 the percentage of losses to
amount of premiums collected was
1854.
The Standard, of Boston, one of the
leading insurance journals of the
country in it's current number gives the
number of fires in the country during
the week ending June ., in which the
losses We're $4,000 or more as being 4S
in number with a total loss of $3.GSS. 600.
For the same period the loss by fires
where the individual loss was less than
$4,000 amounted to $350,000 making a
total loss by fire in the country for that
week of $4,0SS,000 The total loss for
the year 1904, according to the Standard
has been SIP, 104 900, an average loss of
$12S,2O7 per day for the present year.
The loss for the same period in 1908 was
but $56,6l3. During the week mentioned
the figures for the total loss in the
country have been reduced $20, eco, 900.
This comes about by reason of the final
figures for the loss at the great Balti-
more fire showing that the total pro-
pcrty loss there was but s50,000000 in
stead of $70,000,000, as has been
generally stated.
In the list of fires for the week which
ended last Friday, Maine is represented
by two fires, one at Machias where
there was Il loss of $4,000 and that at
Houlton where there was a loss OF $780,,
Geo
1t will be surprising, no doubt, to
most people to know that it is not the
danger Of great CONGREGATIONS. like that
at baltimore. which worry the under
writer's, but the small fires. In no
better way can this be explained than
by reproducing the following on the
subject taken from a recent number Of
the Spectator, a well known boston in
Surance paper:
'Th" present year promises to be n
record breaker in riling up losses by
fire. In addition to the three or four
,onf!agra tions, in each of which several
millions of dollars values We're
destroyed. there are the daily fires that
occur in all sections of the country,
among them being many whore the
losses run from $4,000 to 500. 900 or
more. The general public takes little
note of these, and few besides the
underwriters stop to think what the
aggregate of such losses will amount
TO- Already the underwriters have
charged up to losses this year n sum
exceeding the average annual losses
and even if the losses for the next seven
months should he only normal the in
SurauCe companies are bound to be
LOSERS on the years transactions and
see the accommodations of previous years
WHIPPED out. T;ut losses show no indica-
ton of being normal. for large fires are
occurring almost daily. while the small
ones are exceedingly numerous. n
company manager recently said that
while Il conilagration is to be deplorcd
il is an Increase in the number of small
fires that the companies dread. Com
tinued dropping will Wear n rock is
an old saying, and this continuous in
crease in the number of fires IS what
eats into the surplus of the companies.
To reduce the fire hazards generally is
tho work upon which the underwriters
generally are eXpcnding many thou
sands of dollars and employing the
most skilled experts that can be found
to seek out the causes of fires and pro-
vide Il remedy for them. But property
owners generally are Indifferent in the
matter, neglecting to take ordinary
precautions t. safeguard their property
il any cost is evolved. preferng to
throw the burden upon the insurance
companies. If. however. the companies
negligence and recklessness. cry is
set up ut once against the "eXtortions
of the insurance companies.
The fire waste for the present year
bids fair to exceed the enormous sum
of 00,0O0.0O0. The insurance COM
panies are expected to pay the greater
part of this sum. and will do so. but
how are they to recoup themselves for
such outlay? Obviously they must in
crease their income. and there must
necessarily be an increase in rates.
Without insurance. business enterprise
would soon be paralyzed and CONNER
cial credit destroyed. Property owners
are more interested in preserving the
solvency and integrity Of the COM
panies than are the stockholders of
such institutions"
The municipal officers of Auburn
have petitioned the railroad commits
sioners for permission to amend their
petition. which was heard in 1903. re-
lating TO 4 highway crossing over the