New-York tribune., 1909-09-25
Sprjn gfieId Fire and Marine. the
Largest in Massachusetts.
Was Started TO Keep
Money at Home.


Marine Insurance CoInpny with pride not
alone a. u,e largest fire ard marine company in
fhe entire state. but particularly for the rea-
s5n that through its Increasing power and in
huence IL has played part in the upbuilding
and Development of Tie city in which il is To-
Gated From the inception OF the company its
officers and directors have been strong expo
nents Of the principle that every citizen owes
hs home city service. and that that service
calls for precisely the attitude toward
matters PERTAINING To the welfare Of the city as
the indiA idual has toward tie household Of
which he is member.
II Was partly the seTse of responsibility above
referred t. that prompted the late Marvin
Chaplin 20 make tie initial effort which resulted
in the forming OF the company. He reasoned
tat the business men Of Springfield we're pay
ting OFT Z great deal OF money for fire insur-
ance. and that other cities we're reaping tie
benefit Has neighbor. Hartford for example.
was rapidly coming - Ire front as an insur-
enoe centre. and in consequence II occurred to
him uiat ms home citg situald share TO every
possible extent In the many advantages Of keep
ing her money az home. And so. after q series
Of negotiations with lis fellow townsmen. he
hnaIly suoceeded in obtaining subscriptions for
capital stack To the extent OF S100Ge0 Mr..
ChaPin al that time. tie year 1S49. FORTY
three years old. and under ms administration a
Springfield hotel lad lecoIne one Of the well
known iosiieries Of New England Through
out Is long aud successful business career lie
cherished above AL other accomplishments the
formation and growth Of the company which he
founded AR interesting Interview with him a
few months prior to las death is herewith
auOte0
II had been paying out good deal Of money
for Insurance, all Of which went out Of town.
One day thought ] would Try TO get up an in
suraHce company Tor s. ringfeid- went 70
Chester w. Chapin and said To linn that We
ought - ave an insurance conn any here; that
there WAS great deal of money paid here for
Insurance but that IL ali Hent Out Of the place
A good deal Of insurance business WAS done at
Hartford, and 1 said thought our money ought
% b. KEEP, AZ home Mr.. Chapin fell in with my
views and sid he thought 1 ought 10 see what
Z could do. So 1 came downtown and went
around among business men, but could not get
a rnan % take a dollars worth of stock He
urged me 10 try again and see il l could not
get ten men or firms to take $1,000 each Of a
caphal stock Of S1O0Jp0 offering 10 take one
share Himself. told him that the firm Of VI
RE 6 ClaIdn would take another. We went
around and finally got All but tao shares taken
in that way The tWo shares were cut up and
disposed Il 20 those who did not want 70 take
as much as $4,000 which Was considerable
money at titat time. In that way we launched
our cnfer,rise and finally got our company
formed"
The first few years Of the company were de-
voted almost exclusively to reaching out for
new business. great care being taken TO avoid
all unnecessary risks. a number OF perpleXing
rroh,ens arose relative to Western insurance
with almost prophetic vision the directors in
tbe vear 1853 reasoned that there were great
nossiDiiities for sweeping fires in many Of the
Western cities. attributing their belief to the
existing conditions of inadequate fire depart
mania moor construction OF buildings. the
,n,ner,ns wooden exposures. ue difficulty of To-
eating risks. with che possibility Of being too
rlosely conhiied and. ia a sense. that the main
oaloe WAS thrown al the mercy OF the agent and
wholly dependent upon his Judgment.
gbe c,mDanV experienced during the next two
xears s.ch remarkable growth that the old
quarters were no longer suitable. and the officers
found themselves cramped for room In the
spring Of the same year IL was proud board Of