The Washington times., 1905-12-21
FIRE INSURANCE
MEN NOT AF RAID
Call Report OF Undercapi-
talization Inspired.
YESTERDAYS FIRE NO BLOW
Local Companies Slightly Affected.
Would Take Large conhagTation
to Harm Them.
YESTERDAYS FIRE NO BLOW

somewhat gratuitous statement was
printed in the financial columns of 2
morning paper. to the effect that the
unfortunate fires Of yesterday had
caused much trepidation among tn.
| Washington insurance companies. and
that under certain conditions there was
a possibilitT OF grave danger. due, "a
their undercapitalization
1t was no surprise to find the secre-
taries of the various companies in the
most placid frame OF mind. this morn
ing, and free from all the excitement
which was to be expected had the losses
been heavy and the assets in the least
impaired
Ihe consensus of opinion was that
whatever losses were entai!ed would FAN
put slightly on the Washington com
panles, as the risks were of such a class
that as far as possible consistent with
good business they were avoided or al
least reduced to a minimum should the
worst occur.
Escaped Without Loss.
Lemuel Towers, the secretary of the
Columbia Fire Insurance COMPANY was
asked how his company was affected and
was glad 10 report that they had been
fortunate in escaping withou. loss. He
resented the suggestion that the COM
panles were now living upon their in
Nestments and said that he had heard
that same story as long as he had been
IN the fire insurance business To him II
was a cause of WOnderment where those.
investments had originally come from
and fe was firmly of the opinion thai
The annual business Of the local com
panieS was sufficiently satisfactory to
be carried on independent of their in
VeStmentS.
Secretary Jones. of the Arlington Fire
Insurance Company. was disposed to
think that the article may have been in
spifed by some one not well wisher of
the Washington companies He was
glad to say that his company had
escaped unscathed and as far as the
hre on Louisiana avenue was concerned
the loss of the two entire squares in that
neighborhood would not affect them
seriously. He believed the Washington
companies had ample capital and assets
Tor all possible contingencies. and as the
utmost caution was observed in taking
risks nothing short of a repetition OF
the Baltimore or Chicago cOnfiagratiops
could seriously affect them The ad-
vantages enjoyed by the companies here
were tnat all risks were We'll secured {
ana widely scattered and fire of conse-
quence was practically an impossibility /
Not Excited.
DR.. w. Pope Young. secretary of the
Franklin Fire. was not inclined TO be- I
come excited over the situation as his /
company was not a loser by the fires !
nor did he believe any of the Washing I
ton companies were sufferers TO any ex-
tent. They continued TO do business at /
he old stand and found that each year
The business given them was sufficiently
generous 10 enable them to pay good !
dividends 70 their stockholders
Harry c. Birge. for many years the
capable secretary of the Riggs Fire IN
surance Company, said the best answer
10 the suggestion was that no Washing
-or company had failed to meet ali its |
obligations for twenty-five years past u
md that the Washington companies n
lad an usually clean record for prompt
less ana fairness in settling all claims
he risks generally We're small and we'll
cattered and with our wide streets and
lGmirable fire department facilities he
aw no reason for any fear that. WASH
ngton companies would not continue to
10 as well in the future.