Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1904-02-19
RECOVERING.
Baltimore Gradually Getting
Back to Normal Condition.
Financial and General Business Nov
ing More Smoothly.
Not Believed That Fire Loss Will
Exceed $40, 900.

baltimore. Md, Feb. 18.-The cur
rents Of financial and general CONNER
ciaI business flowed more smoothly in
Baltimore, today, than on any day since
the great conflagratiOn. 1t was not
until the last day or two that the banks
began to send drafts on local firms for
collection. The bankers reported that
where bills of Iading were attached the
drafts were promptly met and that Of
all drafts sent out about so per cent
were paid. Matured notes were also
reported as being paid. Insurance ex-
pcrts were in an optimistic frame OF
mind, today, over the prospect that the
aggregate insurance loss Will be con-
siderably smaller than was first eX-
pected. They are now quite confident
that the loss caused by the cOnfiagra-
ton will not exceed s4O.000,00O and that
1t will not be under $32,OO0.OOO.
1t now seems certain that at least
q half dozen streets in the heart of the
business section of Baltimore will be
widened before rebuilding on them is
allowed The only obstacle will be d
lack of money, and the finding of the
necessary funds is the problem which
is engrossing the attention of Mayor
McLane and his municipal associates.
The authorities here report that I'M
employed persons, particularly me-
chanics, are fiOcking from other points
to this city by the hundreds, and indi
cations are that the volume will stead
lily increase from day to day. The au-
thorities have requested The ASsoci-
ated Press to send out a warning that
there is only enough work here to give
employment to Baltimore workmen and
that the home workers will be given the
preference in every instance.
In the state Legislature a joint reso-
luton has been introduced calling upon
the senators from Maryland to urge
upon Congress an abatement of tariff
on all building materials used in Balti-
more.
The continued cold weather has in
tensified conditions on Chesapeake bay.
The harbOr is frozen over and Il great
many steamers are tied up at the
wharves.
It was learned from an authoritative
source. today, that the tax assessments
on the realty i'm the burned district
were approximately between 100000
900 and $22.0OO,O0O. and that the
dSSeSSHlentS OH average STOCKS OF SOOuS
consumed i'm the fire were between
10000. 900 and $4,000, 900 At this time
of the year; however. the stocks car
ried by merchants were much heavier
than the average. As the real estate
was assessed at three-fourths of its
value. these figures would indicate IA
total loss by reason of the fire of about
SS5.OO0.0O0 at the lowest figures.
Brig. Gen. Riggs. today. issued or
ders relieving company of the LIST
Regiment from duty IN the burned dis
trict. and announced that the remain
der of the military force would be re-
duced daily.
The only business failure so far as
a result of the fire is that of William
c. Stewart & Sons. dealers i'm builders
hardware. who have made an assign
naent for the benefit of creditors.
The local agent of the Greenwich
Insurance Co. of New York. announced,
today that it had reinsured it's policies
unaffected by the Baltimore fire in the
Commercial Union of New York. The
Greenwich Co. had Il paid-up capital of
10000 and net surplus of $15S.164.
Its losses from the Baltimore fire were
100000. It's capital stock was there
fore impaired to the extent of Si1,S36.