New-York tribune., 1906-04-28
RUMOR OF SUSPENSIONS
AGENTS ASK REPORTS.
Impossible to Open Safes Yet. San
Francisco Representatives. Sag.


e few cases appeals were made TO send TO San
Francisco recent reports of risks in the district
20 enable the agents 20 begin Investigations OF
claims for losses. Several expert adjusters have
been sent from this city 10 aid in investigating
the fire losses
While the uncertainty as to the extent of in
surance losses at San Francisco continued. there
reports in the financial district of this city
yesterday that more than one American COM
pany would suspend owing TO the losses. The
reports could not be verified
The American Fire Insurance Company, of
Boston. has now reinsured its entire business
with the Firemen's Insurance Company, of New
ark The American Fire Insurance Company, Of
Philadelphia. has rensured its entire business
with the Commercial Union. OF England The
Mercantile Insurance Company. Of Boston. has
reinsured fits business in the American Central
Insurance Company. OF ST Louis. which really
owned the Mercantile. The United States In
surance Company, of this city, has reinsured its
business in the Westchester Insurance Company.
Samuel r. Weed of the firm of Weed & Ken
nedy. was IN San Francisco just before the fire.
and since his return to this city he has OBJ
tsined information regarding the effect OF earth
quake and flames some Of the more impor-
tant buildings OF San Francisco which were IA
uliliar to him. He was interested particularly in
Smelling Company in Montgomery street. be-
tween California and Sacramento streets. within
the burned district. had escaped damage by
both fire and earthquake.
MASONRY BUILDING STOOD SHOCK.
That building" Mr.. Weed said, was erected
away back in 1862 by Adams g. Co. the prede-
eessor Of the Adams Express Company. for
banking and express business. 1t was con-
had iron doors and shutters intended to keep out
thieves and flames. 1t was intended in those
days freproof structure. It's solid con-
struetion enabled il TO resist both the earth
quake and the confiagration. At the time Of
the fire which destroyed surrounding buildings
it contained a large amount Of bullion belonging
70 the customers of the smelling company"
Another building which Mr Weed learned had
escaped with damage OF only $4,000. although
partly wrecked by earthquake was that Of the
Pacific Hardware and Steel Company. at 10Th
street and Potrero avenue. There was 100000
insurance on the building and its contents. but
its solid construction resisted the flames after
the roof OF an extension collapsed in the earth
quake.
The Mills Building in San Francisco. Mr.. Weed
said, was occupied entirely by banks and offices
and was strongly built being one of the finest
structures in the city. II withstood the earth
quake, that its elevators continued 10 run and
its electric Hight plant was kept going until
flames from adjoining buildings gained an en-
trance. The building was damaged by flames
so that portions of 1t will have TO be rebuilt.
The building occupied by the Bank of Cali
fornia at the time of the fire. Mr.. Weed said.
merely the temporary home Of the institu-
ton In 1862 the bank erected a fine building
for fits use at Sansome and California streets.
on the site OF a hotel which was famous in the
early days of San Francisco as the Tehama
House. The hotel was a frame structure. and
all its letterheads bore the statement Earth
quake proof" The bank building erected on
the site OF the Tehama House torn down
about a year ago TO make room for sky
scraper structure the bank had planned TO build
its permanent home. The site is now ready
for building operations.
The publication OF the complete statement Of
the assets and liabilities of the European fire
insurance companies in yesterdays Tribune ex-
cited the greatest interest, not only among in
surance men. very few OF whom were aware of
all the facts in The Tribune publication, but
among policyholdeFs. who naturally seeking
every source Of information to the strength
of the policies they have, and by whom the in
formation conveyed in The Tribune tables could
not be obtained through any other source.
RESERVE FOR EAIhAOHDlNAh1 FINES.
As the officers and managers Of foreign in
surance companies are forbidden by law from
giving out any of this information. it naturally
happened that the publications were, in two or
three instances not exactly such the COM
panies would have made. The following letter
from G. F. shallcross, manager of the Royal
Insurance Company, was received yesterday:
In reference to the return which appears in
The Tribune OF this morning showing the finan-
cial standing Of the various foreign fire insur-
ance companies having branches in this country,
wish TO state that in addition TO the net sur
plus Of Sl00lG .96S quoted from the statement OF
this company made on the LIST OF January, 1905.
IL has funds, held in reserve to meet eXtraordi-
nary oonfagrations such as has occurred in the
city Of San Francisco, which had not been
passed into its statement az the above mentioned
date. OF about $T,0OoO00. The losses in San
Francisco OF this company, quoted at Sc, ,IJO,OO1
represent the total sum insured without any de-
duction for probable salvages 10 be made I'm the
adjustment IT. however this sum should prove
In the end 10 be a total loss il will still be paid
without diminishing the net surplus OF this com
pany of upward Of SlOOOOOoo TO any extent
whatever.
The authorized and subscribed capital Of the
Northern Assurance Company of England was
given as 81 100000, whereas il should have been
Sl5JOOO000 As stated in the publication yester-
day some Of the British companies do only fire
business and Others do both fire and life insur-
anoe. Naturally the assets of the latter class
are larger than those Of the former.
In publishing only the fire assets Of the North
British and Mercantile Insurance Company. in
justice done. as comparing the company's
gross assets with those OF other companies DO
ing both fire and life. The fire assets OF The
company published S21S5151 the fire
liabilities as s6T T02 $40. and the net surplus as
S11. .245,o4o. IL the entire assets OF the company
had been published they would have shown gross
assets OF over SS9eO0OOO