New-York tribune., 1909-09-25
GROWTH OF, INSURANCE
RECORD OF ONE COMPANY
All Losses Have Been Settled With
Characteristic Promptitude.


was organized on September 10. 1853. under an
act Of June % Of that year, the original name
being The Phenix Fire Insurance Company"
This name was changed by an act OF the Legis-
lature Of February 10, 1866. 20 tie present ono.
The capital at its organization was 100000
which has been since raised TO 81. .Jo0000. The
first meeting for organization was held Feb
Tuary Is. 1853. At meeting held one week
Afterward, February -, Stephen CrOwelI was
unanimously elected president Of the new COM
pany. On July IS 1853. Philander Shaw was
elected secretary Under its charter rhe PheniX
was authorized 60 write inland navigation and
transportation insurance as well as fire risks,
and in 1853 il added inland insurance TO its
business. On June p, 1864, the capital stock
was Increased 20 $4,000 under the general in
surance act OF 1853. A second increase was or
dered on November %. 1865. the amount being
10000
The Chicago and Boston confiagratiOns in
Volved the company IN losses amounting TO
s939, ,779, which We're settled with characteristic
prOmptitude, the Phenix being credited with the
honor Of being the first company to begin the
payments Of claims at Chicago.
The net premiums IN 1905 amounted TO
1855 9SG Tie total income was S7,S9S, 200.
The amount Of insurance in force on December
81. 1903. was sl.023. .250,324. The total premiums
since organization were S1722o2513 "a, and
total losses paid sSe472J99. The June 30
statement showed the assets OF this company TO
be S10119.029 01 and the surplus s1.572, ,122 81,
with a surplus 20 policyholders OF S3O12,l23 9l-
Losses sustained by this company in tie great
Baltimore fire were approximately $4,000. and
81 that OF Toronto sl25.c0O while the San Fran
cisco loss amounted 20 s2.9Ss. .l22. all Of which
were paid with the promptness that character
izes the company's business generally.
Too much cannot be said about the inpor-
tance OF the organization OF a company's man
agement The PheniK company has been re-
Enarkably fortunate in respect 90 the general
selection OF fts management, who have proved
IN every case 20 be men Of the highest integ-
Fity and marked ability.
The company has had only two presidents.
Stephen crowen retained the position until
April 10, lSSS when he declined reelection.
When this happened George T. Sheldon was ad-
ganoed from the vice presidents office and Ar
thur B. Graves WAS elected yice-president and
George Ingrahsm second yice-president- With
the exception Of four years. 1875 TO 1879. when
William r. CrOWeIi was secretary, Philander
Shaw Was the secretary OF the organization until
1880 with William Charters as assistant secre-
tary. Charles G. Little. yice-president and sec
Fetary Of this company, died on April ~, 1881.
Az meeting OF the directors held on May lO
following George Jngraham, second vice-presl"
DENT was advanced 20 the position Of vice.
president: William A. Wright assistant secre-
iary, 20 that Of secretary, and Charles +. Kos
Ger % that Of assistant secretary. William A.
Wright. secretary. died on March ], 1904 and
AZ the annual election OF the directors held on
April II, 1904, the assistant secretary Charles
T. Roster was elected secretary.
George Preston Sheldon. president OF the Phe-
nix Insurance Company. was born in New York
City on January IL, 1Ss7. He finished his col
Iege education at Yale IN 1861. he is man of
nleasine personality, with strong characters
aics and Sc most excellently qualified 20 direct
the affairs OF an institution Of the magnitude OF
the Phenir Insurance Company. He is MEM
Der 0f many OF the important clubs Of New York
city.
Charles r. Roster, secretary OF the Phenix
Insurance Company, was born in New York City
on December ii, 1867. He received his educa-
ton in the public schools Of Hoboken. n. j.
whore In 1883 he accepted position in the local
agency OF the company. In 1884 he was trans
ferred 90 the home Office Of the company, leav-
ing the underwriting department 10 go into the
accounting department, from which he was pro-
rnOted 90 the Office OF assistant secretary in 1897
and 10 that Of secretary In 1904
The PheniE Insurance Company does a gen
sraI fre business I'm all the states and territories
Of the Union, also in the Dominion Of Canada
British Columbia and Alaska
The company has Western department in
Chicago OF which j. IL Lenehan is general
agent General Agent II. g. StOckdell has charge
Of the Southern business. with headquarters IN
Atlanta. General Agent A n. Stewart, who
has charge Of the Eastern and Middle states
and Canada, Is situated In New York City.
The PheniK is considered 90 be one OF the
strongest companies doing business In this
country. II Is characterized being most lib