Evening star. [volume] (Washington, D.C.) 1854-1972, 1904-02-08

OF QOuDt thdt the insurance COmphfiieS now
doing business in the state of Maryland
will be able to meet the losses caused by
the great fire in Baltimore" said Mr. Max
Cohen. editor of Views. a local insurance
publication, to a Star man this afternoon
"As a matter of fact. 1 predict that the
Baltimore disaster will be the means of
showing to the American people the strong
position in the financial world held by the
f1rst-class fire insurance companies.
During 1903 the insurance business for
the state of Maryland was as follows:
Premiums Losses
MARYLAND ,l Fire 1ns; Co.'S stes'sss ssss. & q
Mutual Fire lns. Co.. other
Fire ms Co.'S other states 1.aess1o esssls
Foreign Fire ms. Co's......... 7.I1S.01e 35S.s97
s3.ois. o2s 81 4s7 $40
1.-The total amount of insurance written in
the state amounted to s143 264. 313. by the
standard insurance companies. The fol-
lowing shows the statistics of the fire in
surance companies doing business in the
state of Maryland and gives their financial
standing at the close of 1903:
The Companies Classified.
"Of this business there are IA Maryland
straight companies. Is Maryland mutual
companies. 65 other state straight COM
panies, 2 other state mutual companies. 20
foreign. making a total of 12S companies
of known standing to share the loss.
Even with the enormous estimated loss
it will be seen that the standard companies
have a surplus of more than $4,000 Co.,
while it is anticipated that this fire will
seriously cripple many companies, 1t is be-
lieved the money will be paid promptly.
Insurance men all over the country will
make an immediate appeal to the large life
assurances companies to advance money
on life policies to those of the holders who
are wiped out of business in Baltimore.
This action. it is believed. will relieve the
stringency to very large extent, and assist
the business men in resuming business at
the earliest possible moment.
No. | hardly think any of the Washing
ton fire insurance companies will be affected
by the Baltimore fire.
Cost of the Confagration.
You will be surprised, doubtless to learn
that the fire in Baltimore has so far cost
the insurance companies nearly as much as
the entire fire insurance loss for 1908, which
was s130.O0O.OGO.
Now is the time for the Commissioners
to ask Congress for additional fire fighting
facilities for the District of Columbia.
While We have excellent facilities for fight
ing small fire, such one as has occurred
in Baltimore would wipe out the entire
city. owing to the small number of our fire
fighting apparatus
Few Risks Held in Washington.
Only few of the District companies car
ried risks in Baltimore. the majority con-
filming their business to this city. The Po-
tomac and the Colonial are possibly the
only two companies that hold policies to
any amount
In response to an inquiry from The Star
reporter to the probable amount of bust
ness carried in Baltimore, Mr.. A. X. Phil
lips, the assistant secretary of the PotO-
mac, stated that no word had yet been
ceived from their general agent at Balti-
more. While the company carried a large
number of risks in that city. at the last
directors meeting held here a large
amount of insurance had been Cancelled.
Until they could hear from their agent in
Baltimore no definite amount of loss could
be stated. However, it would not be any
very large amount.
The Potomac Insurance Company car
ried about 100000 of risks on the district
swept by the fire, and although no single
risk was greater than 900, yet. owing to
the great extent of the confiagration, it
would not be surprising that the entire
amount will be a loss.
The German-American Company carried
only a small amount of risks, something
less than $4,000 approximating the full
amount and it was not known at this time
IL all of this amount was on property in the
burned district.
The Colonial carried considerable insur-
ance in Baltimore. Mr.. Van Trump as
sistant secretary of the company went over
to Baltimore today to look over the situ1-
ton. In response to an inquiry of The
Star reporter, Mr.. Miller of the company
stated that about $4,000 would cover the
possible losses. and that the entire amount
of risks carried by the Colonial in Balti-
more would not exceed $4,000
The Commercial shut off it's Baltimore
business last December, at which time, 1t is
significantly noted by a member of the
company, about s., 900 in risks were cam
celed property located In the present
burned district.
Lesson to Other Cities.
Mr.. c. w. Howard of the Firemen's In
surance Company of Washington and
Georgetown. stated that the fire in Balti-
more is a severe lesson to other cities. In
that city, the disposition of the merchants
had been to place a very large share of in
surance in local companies His company
had placed no risks outside of Washington.
He had learned that great hindrance had
been given to the work of subduing the
flames by the overhead wires. He thought,
also, that II would have been wiser to have
sent half dozen fire engines to Baltimore
in response to the telegram for help than
two. He did not estimate a heavy loss on
any Of the District insurance companies.
because the companies here had been very
conservative in writing risks outside
An agent of the Royal Insurance Compa-
ny of Liverpool stated today that if the fire
in Baltimore had been extinguished al noon
today his company would still be a loser to