The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-22

Of the: is impaired the loss will be made
good by the stookholders.'
Mr.. ~FTelinghuysen seemed to resent
what he called the effort Of some Of the big
companies to make capital for themselves
out Of the disorder by casting slurs on the
stability and integrity Of the smaller con-
Germs.
Our attention, he said, has been called
to statements purporting to have been made
by prominent underwriters n officers OF
certain companies, that any attempt to evade
damage by losses other than fire in settling
with the ~polieyholders in San Francisco
would be met by public contempt. II
these statements are true, they are entirely
voluntary with those who have made them.
l do not think any Of the companies Is de-
sirous Of Withholding a dollar that is justly
due any of the sufferers in San Francisco.
In order to protect the interests Of policy
holders outside Of San Francisco, who have
availed themselves Of the credit given them
by the insurance companies through their
contracts, it is imperative that all Of the
companies interests should be protected
by strict compliance with their contract,
with a fair and liberal policy toward those
who have been unfortunate enough to lose
by fire in San Francisco
All Of the above liability estimates are, Of
course, gross figures, in which no allowance
is made for possible salvage or for straight
earthquake loss for which the companies
! are not liza bic.
President E.. Kremer OF the German
American Company will give out no Stats
tics until tomorrow. He said yesterday,
however, that the losses will be much smaller
than was at first supposed.
None Of the companies received any dc"
tails yesterday from their California agents.
The representative of the Nestohester
telegraphed from Oakland: Il am safe,
but all records lost. The authorities will
not allow me to enter San Francisco yet
The agent Of the Home company tele-
graphed from Los Angeles that he had boon
to San Francisco and returned without
learning or doing anything.
Concerning possible failures. the report
printed in THE Sun yesterday that ten for
eign companies and a smaller number OF
American companies may have to retire
from business after using up all their cap
ital to settle claims, was accepted by in
surance men as a fair and conservative
forecast Of the business troubles that are
bound to como in the wake of the earth
quake ana nre.
The English companies and the big Ger
man companies with general Offices in this
city are all supposed to be safe. The danger
is supposed to be for some Of the smaller
foreign concerns that do not operate in this
country outside Of California. The in
suranoe law Of that State, say the New York
underwriters and agents, is extremely lax.
The State requires no deposit before allow
ing a company to 10 business, and for
these reasons hat portion Of the Pacific
Coast has been a ~favorite field for some
weak concerns.
Among the foreign companies doing bust
ness in California exclusively are the New
Zealand, the North German Of Hamburg,
the Rhine and Moselle and the Transit
lantio Company Of Germany. The San
Francisco liabilities of all these concerns
are heavy.
$50 far as the big foreign companies are
concerned" said W. o. Robb, secretary OF
the New York Boardo of Underwriters, yester-
day, there is no danger at all. They ara
all in q position to send capital here from
all parts of the world,'
With the exception Of the Liverpool and
London and Globe, which has fve-eighths
Of its business in America, the strong Eng
listf companies AVE the larger part Of their
risks road.