New-York tribune., 1908-04-14
INSURANCE MEN SIZZLING.
Lose Hearily at Chelsea, but UH
Pan Al Claims Promptly.

The presidents and managers OF the fire insur-
ance companies here accepted the news yesterday
Of the disastrous fire at Chelsea. Mass. with uni
form good nature and confidence. Estimates of
the total varied from SO00OO0 to S6500oco but
on all sides il was said that there absolutely
no doubt Of prompt cash settlements, without dis
count.
I'VE have been through San Francisco. and
greet Chelsea with a smile said Edward r Bed
DALI president OF the Royal Insurance Company,
Limited "Our company. l think. without doubt Is
the largest sufferer by the fire. BY that I mean
that we will have larger losses 10 pay than any
other company. l figure it, Our
loss will be fully $4,000. There is nothing any
body can do In a case like this except smile and
pay-a little easier than 10 pay and then smile
probably. l got the word before breakfast. but IL
didn't hurt my appetite. After San Francisco in
surance men feel they stand almost anything
in the way of exciting diversion Put down for
$4,000 and. until further notice, the tiptop of
the list
Charles l.. Case manager Of the London Assur-
ance Corporation. said. In his office AT No ST Will
lam street: 1T Is discoura gug. of course and the
thought that the same thing is likely happen to-
morrow, or any other day makes this business fun
OF edge We lose 100000. OF course We are able
to lose IT, but IL means per cent profit on a
years business Of 100000. | think IL is safe to
say that most OF the standard companies will find
their Chelsea loss equals at least years profits
Insurance men have had Il pretty tough time OF il
when YOU think it The losses In January
and February far exceeded the same months last
year. There fires fires everywhere. There
was always some place burning. No particular To-
cality caught the infection. All the companies felt
1t alike March was a little better than last year
and now We have Chelsea. We stand il all
rlght-no worry on that But a hundred
thousand dollars Is good lot OF money. It's
different with newspapers The more disasters the
greater the sales and. 1 suppose profits"
1t Is believed that the Home Insurance Company
will lose $4,000 Elhrdge G. Snow. president said
they had been over thv map of Boston and CheL
sea it's suburb and he felt confident the company
would sustain u loss of at least It quarter OF d,
million.
At the office of the Northern Assurance Company.
of London at 10. FIne street. George W Batt.
general manager said Sl5Otvp would more than IA he
quence OF the Chelsea hre. None of The companies
has sustained a sufficient loss 10 force them TO sell
any securities th..t tiey hold Ia order TO meet the
claims
The losses Of the Hartford nre insurance COM
panies as estimated by q Hartford urwSpaprr.
would amount to approximately 81 tvVoOo. OF this
amount the ftna Insurance Company is estimated
to have lost Sl65CcO. tGe Hartford Fire Insurance
Company S250.O0'. and the PheniN Insurance Com
pany $250c0o. The State Fire Insurance Company
reports loss. the Connecticut Fire Insurance
Company a loss OF $4,000. and other insurance com
panies IN Hartford follows. National Fire Insur-
ance Company, $4,000. Scottish Union and National
so c"o. orient Fire Insurance COMPANY sos $50 and
London and Lancashire Company. S9L7OO
The losses will be paid by about one hundred and
hfty i9suranee companies, II was said. so the