New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-02-09

Is assured that the insurance losses OF the COM
Tary resulting from the Baltimore fire will be
paid "a full The conpany's net surplus will still
be more than s6.Ooo.Os.
Hlbridge q. Snow. Of the Home. said:
at s5s5000 s considerable part has been reinsured.
50 That our net LOSES VII pc only siIVvoi our
more look the field. and shall send
as quickly as possible, pay the losses and go on as
II nothing unusual has happened.
Augustus Colson OF the New-York Fire Insur-
snce Company, said:
The reports at hand may be exaggerated some,
but il is undoubtedly a very large loss 10 many
companies. It simply shows what a big fire with
Withstand it when it has great Roadway,
Archibald c. McIlwsine. jr OF the London and
Lancashire company. had this TO say:
Il he late REPORTS are true. this fire viii exceed
disaster were bis. but that was baby in long
clothes compared 70 this II may De bigger than
shall not know FOR some time what our own actual
reach $4,000 '-''' Will
Washington Irving Of the Phoenix Assurance
/ Company Oimited) said:
The losses by this a~e probably viii be greater
greater e-es t,,era 80 49, 5a, b,,iISis %
little value. while the stock Of merchandise them
stroyed al Baltimore. There lie hIiidines and
their contents are OK Immense value and they vyerc
] concentrated in a small area
Mr.. Hare. manager Of the Norwich Union and
! Indemnity companies. said:
Untr We learn exactly what the limit Of the
] burned territory IS. we cannot give APP
up more than the profit OF the last two years.
Charles Holman. Of the Palatine Insurance Com
! pany. said:
me isaltnore fire Is unquestonaby the worst one
Win since the advent OF the modern. so-called
hhaepreot nuildings Most Of the companies have
They had just about recovered from their OF
the Jacksonville fire. All viii feel the effect OF this
lTe, some more than Others. for Il is certainly
/ PHILADELPHIA representstive is now in Raitimore
but has as yet been unable TO ascertain the extent
] q the cOmpa-y's loss
] Elijah r. Kennedy % Weed & Kennedy was
asked yesterday II he believed a report that fifty
insurance companies would be forced to failure on
account Of the Baltimore fire. and he replied:
! No; many ten. I think the percentage
! ~ unpaid losses viii be extremely small The day
/ for the small companies which could be ruined
! by the FIRE. has gone by Many OF the smaller com
] panies DISAPPEARED after the Chicago FIRE. and
! more DISAPPEARED in more recent years. Most 81
/ The companies having risks in Baltimore are able
/ promptly
Henry H. Hail. president OF the National Board
OF Fire Underwriters said be thought the Balti-
more fire would further concentrate the fire IN
/ surance business in smaller number OF COM
4 uauies lie added
/ IT is TIME for those who have been complaining
about RACES 10 take back seat Prudent insurance
! corpanies prepare FOR just such exigencies by
! charging reasonable rates. No can tell when
] heavy losses VIII come.
Marshall s briggs. president Of the New-York
Board 81 Fire Underwriters said: Tho losses will
! Doe heavy. because rates in Baltimore were low.
They're well insured in Baltimore
OF three fire insurance companies Of Newark only
/ one the American has risks in Baltimore. The
! American has within year placed consid-
cradle insurance in that city. and the losses are
! likely 70 De heavy. ~ the Office OF the company
/ Il was said that statement OF losses could be
made fo- day two. the company had yet
no definite information. The Prudential Insur-
ance Company OF America had five Offices in Balt-
more three OF which in burned buildings.
Aired NJ Best. head of the Alfred VI. Best
/ Company Gncorporated). publishers OF Best's
/ Insurance Reports. VINO is expert on fire in
surance. spent the day yesterday trying to get
some idea of what the insurance losses in Balti-
more would be He received frequent reports
from there IN the day, the latest dispatch being
fled there at $50 p. That said that the
! net loss by fire would be probably about $780,
100000 As the result Of his deductions. Mr..
Lest reached the conclusion that the loss to the
insurance companies would not probably be
over S1OOOOOOOO This will mean. he thinks
that some OF the smaller companies Will go into
liquidation He added:
OF course il VIII be simply impossible to get any
correct estimate 81 the Total loss the insurance
loss for several days. The insurance district was
all wiped out ia Baltimore and II Is likely that the