Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1910-12-07
FIRE INSURANCE
IS NOT ALL PROFIT,
SAYS R. P. CONLON
Declares One SchooIhOuse Fire
Would Show Folly of Re-
trenchment Policy.

r. p. Conlon, the prominent insur-
ance man, takes the stand that fire
insurance is not "all profit and de-
clares that one bad fire would show the
folly of "a policy of retrenchment in
fire insurance. Mr.. Conlon says:
From figures quoted by School Com
missic ner Edgar R. Brown at the last
meeting of the Board of Education and
subsequently published in the news
premiums that were paid to insure
Newark's schoolhouses against loss by
fire during the past thirty-hve years
were profit. Reliable statistics for so
long a period are valuable and the cor
rectness of the figures is not ques-
toned.
But it may be remembered that the
City Home. trustees undertook some
years ago to show the public how
much they could save the city by re-
premiums. with disastrous results.
Shortly thereafter a serious fire &C
Cured at the home. n the public has
never seen in print the amount the city
lost by reason of the foresight of these
gentlemen. Our friend, COMMISSIONS
Brown, might look up the statistics in
connection with this incident.
Fires are not like the sun n moon.
rising I'M setting at a certain time
and place. Because Newark's school
houses have escaped destruction by
fire for thirty-five years past, it is no
proof that such conditions will n
tinue indefinitely. The law of average
inevitably governs, and no man can
p%rophesy what will happen in the near
future. The schoolhouses of Newark,
or OF any other place, are not immune
from destruction by fire.
Texas and California Experiences.
For Illustration, I present herewith
an item published a few days ago:
Fort Worth, Texas, Dec. 2, 1910
The Fort Worth High School building
was destroyed by fire today. Loss
500, 000.' AS another illustration take
the State of California. Prior to April
IS, 1906. it had about the lowest fire
loss ratio of any State in the Union
but the next day something happened
-
nat Is NJ" history ana the low aver
aye was hhockeu lnto csckea nat
"At the same meeting where Com
missioner Brown quoted his statistics
Commissioner Taaffe suggested an in
surance fund. This may sound good to
the general public on first hearing. but
suppose they look at it from another
point Of view and suggest a plant fol
the manufacturing of supplies and ma
terial for City buildings, or to purchase
a printing press and issue a daily
bulletin to advertise taxes, ordinances
proposals and then watch the outcome
The old saying, the shoemaker should
stick to his last 1t strikes me. would
i apply here.
During the term of a former mayor
the city established one insurance
fund. His honor was a real good me-
chanicaI builder, but had little expert
ence in the workings of an Insurance
company. Whether or not the move
will rebound to the city's interests and
credit remains to be seen. Who col
lects for the fund and distributes 1t,
and what does it cost the city for
services?
Proceed with your proposition for
the city to insure its own PROPERTY
and the credit of the city and the price
of its bonds will drop accordingly.