insurance COMPANIES, Cry OF New YORK

S2,7eo, 900 65.62s,a7I 4ls.l37
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1t will be observed that these eleven offices with
aggregate capital less than three millions of dollars


have risks amounting to than sixty five millions,
or about thirty dollars risk to Of capital The total
income Of these companies, in premiums interest," SC,
in 1884, amounted to S5s660 TO- of which S4l9 1877 were
for premiums and S67 46s from interest and other re


cepts The aggregate income was therefore, more than
twenty-five per cent on the capitals. The fire
Offices in this city, having small capitals is one cause OF
the insolvency fire of any magnitude produces. These
small companies have about half dozen officers each


with salaries varying from $1,000 $4,000 EACH and they
are got upby capitatsfor tho purpose of living good
berth to some OF their friends We have upon
sons seen the evils oil our Insurance Companies having
such limited capitals of their taking such an enormous
amount Of risks; and Of their cenerng their risks in
small districts and it is about time the system was
changed We want companies having capitals of millions
ofdollars with restrictions the be insured


II is more important that every individual having policy
should not only feel but know that he insured under
circumstances than that the stockholders should d.


vide twenty and twenty five per cent per The
OBJECT oil the existing companies and those destroyed,
appears 10 have been to see how large amount they
coud insure upon the smallest capital and how large
dividend they could declare. It would be much better
or the to receive seven per cent dividends


regularly and continually than large dividends for n
few years and then lose the whole OF their investment
II these stocks were more permanent, they would be
more sought for Investments but they are now SO Ii.
aeie to be swept away in night that confidence in
them has been very unsettled and is almost wholly
destroyed 1t is time the legislature organized these
companies upon new basis at least compelled them
10 cnafge ther capitals to something like respectable
amount is only upon occasions similar to that Of the
morning OF the 18th inst that the public mind is awaken
ed to sense oil the shallow security the insurance
pancs OF this city promise TO the insured The loss Of
few hundred thousand dollars by each leaves scores
Of millions Of dollars worth of property uninsured,
which these companies have been paid for nsurna sc


vcral OF our companies by recent fire. lost nearly
the whole OF their capitals notwithstanding which they
are striving to get farther risks at additional premiums


with capitals reduced TO twenty-five and fifty thousand
dollars These companies give notice that they are now