Chicago Daily Tribune Newspaper, September 25, 1874, Page 2

2 THE CHICAGO DAILY TRIBUNE: FRIDAY, SEPTEMBER 25, 1874 tho Board does fis worl through tho Exccutivo Commiiteo, Reporter—Then, what tho Cominittos ays la v Mr. Tonll—If it In confirmed by the companies, Under ordinary cireumstances, Lheir aotlon g Jaw; but in o caso liko this, tho National Doard han no right to say whoro n compnng shall do businoss, This action of the Committoo is kin- ply recommendatory ; thoy aro absolute only so far ny rates and ruley are concornod. Ttoportor—Iu it your baliof that muny of the companies will give up dolng businosy horo ? Me., Teall—It 1s diflcult to tall. Bowe will un- doubtedly withdrnw, Toportor—Should thoy do so, will not cther companics, outeldo of tho Board, Ml tho vacau- cigs ? \ My, Tentl—Yes, somo trresponsibilo compnnies would probably tey to comoin; thoro havo ni- ways boon such horo; but thoy must pnss l}m Auwditor firat, and, if hio doos his duty, thoy will not bo pormitted to do business fn Chicago, Ruportar—What would becomo of the flire- patrol? Mr, onll—Tho companfos that romnin witl spport it; not moro than half tho Nationul Board companios will leave, Toportor—\Whioh of them will be likoly to ro- nin P31t Tanll— do ot know ;b we have assur- ances that somo of thom will stuy. Tioportor—Do you beliova that the companics which will withdraw wiil do go permanontly ? Mr, Wenll—I do not. They will not, in my opinion, stay away long, becauso tho Directors o} the firo compavics aro intorested in tho lifo compauics, which havo mudo lurgo loans horo on renl gstate and buildings, and it is necosenry to havo insurance policies for recurity. :llcponm'—IIm-aF tho compunies never mado oney in Chicago e Teall-tho flvat veas nd o il aftor tho 1871 fire thoy did ; but they havo not since; and it s simply n mattor of doliura nnd cents with tho stockholders, who have, in muny cases, in- istod that tho companios shall withdraw, Iteporter—If tho majority of the companien do go, tho people would still Lo able to get their proporty insured ? r, ‘Tenll—1Lhoro would bo somo good compn- niea loft which would not be influcuced by the action of the Board. - Roporter—Will not this diotatorinl polioy result in breaking up tho National Donrd ? Mr, Tor |l —\'v.-ry hikely ; it will suroly have o tondaeuey that way. Reportor—\What elfect will it ave on tho local onrd ? Mr. Teall—None, I hope. Wo must got good rates, and in ordor to got thom tho companios must atand togother, We woro organized bofore tho National Loard, and have - chiarter which pives us power to do many thimge—to appoint o ll‘*‘lro Commissioner, for ingtnnco~—which we could not do if we disbanded tho organization, JAMES Tt MILLER. # Tteporter—What is your opinion of tho action of the Exscutivo Comnittea? Mr. Miller—I thiuk it §8 » gront mistako, and ono that will recoil with ton-thousandfold offect upon_the compauios composing the National ard, Roporter—Will it result in tho disruption of tho Toard ? - Mr. Millos—Wo cannob toll tuat, but it will crento a division of sontiment, notwithstanding the uceiing unauimity of tho action, which wil probul:ly result in breaking up the orgavization, 'hat, howover, is & ero surmiso. An antag- onism will bo croated when tho resolution is pub in force. Octobor nud Novombor aro the two Dbusicst months with tho mer- chanty of Chicugo, snd it is tho worst timo in tho yesy to stop underwriting. Our theory hus always beon that it would havi heen ol butter Lo hava stoppad issuing pali- cicp on tho 1st of September, thus giving tho Dutiness mon an opportuuity to teallzo the con- dition they wero in without ‘projudicing their in- terests to such an extont na resulls from tho present action of the Committee. Whilo wo aro strong wupportors of tho Nutlonal Donrd, wo thiole tho notion shows a lack of judgmont. ‘Lhicy should bave ent o committeo horo to seo what wo wero doing, os Loy did toDoston after tho fira there, and hevo had o fair sud squuare dizcustion with tho anthonties. As matters now stand, we do not know whother wo are on fool. or ou horuobock. ? Reporter—\Will all tho companies comply with tho recommendation 2 My, Millor—£t is suid tint the voto for tho ros- olution was * uunnimqus.” 1 tho voto was sup- plemonied by tho signing of su_sgreoment, tho agreomont will bo curriod out. But ir 1t was by ‘yote nlone, thoro is » grnhnlnhky that thero will Do souio members of tho Board who will not ad- hero to it. As long us human nature is coustl- tuted o it i, you cnn vest ugnsured thet no such compact, ro clenrly unjust, ean be carried out. Ttoportor—Liven if the Board companies with- draw, others will take their places ? Mr. Miller—That is the point. 'Lliere aro not companies of sufliciont capital outside of tho Boord to ppotoet Chicngo. The clemeont that onters into (he National Bourd is the bouo und eluow of tho insurauce capital of tho country— over $150,000,000 being reprosontod by its mom- boxt. * Reporter—What will become of the firo- patrol ? Mr, Millor—That wiil bo contlnued, The ex- tra patrol—the tucusy men who patrol theutroota at night—will bo dmponsed with Oct, 1. Tho Nationnl Board pays them, but thoy lLave do- clined to make uny moro assousmonts for that purposo, Tloporter—What do you tbink of insuranco proepocts ? Ay, Millor—No ono can expross a clear opinion sbout that, Wo arc all like Micawbor, haying no specific instruetiony trom our principals ; but'tho Lreuuulph’ou is thut wo will follow tho National soard. » 8 Tteporter—If tho companics withdraw will thoy not. rllumrn it tho protectiou thoy domand is as- sured ? Mr. Miler—Theve is no guaravteo of that uutil the roforms aro fixed facts, Lhoreisn disposition on tho part of tho Nutional Bonrd to oxereieo a ccrtain controlling influsnco over all the lurgo citics to mako them inemablo, Thore i hardly o city in the country excopt Now Yorls and Boston tnas is consldored in nsafe condition, A great many things aro lnuki&g at St Louiy, Cincinnati, Milwaukeo, nnd Louisvilla to make them strictly desirnblo points. If the gaforms noeded are gocured, the Board will have done a good work. < e Reportor—Do you crodit, thd ramor that the movewont is tho work of Now York werchants who desire to injure the credit of Chicago nbroad ? Mr. Millor—1t is the resultof the timidily that bus existed in New York sincs the fire of 1871, and which was increnscd by that of July, on the l:rincip!n of **Itold you 80.” We huve heard hat rumor, but do not kuow whether thero ia uny foundation forit. flmmrtar—-\\hu you continvo iesuing policies at tho {»rcncm rates? Mr. Miller—Yog, until wo recoive specific iu- Wao do not - Elrections from our princlpala, recoguizoe any ono clue. JONATHAN GOODWIK, Jn, “ Reporter—liow do you regard tho action of the Committes 2 Mr. Guodwin—Wo kuow notbing othor than what hay been telographod, but we doubt whethor the companies will bo unanimous, Repurlor—haye you any reason for believing that tisey will nottohoy tho mauduto 7 3ir. Goodwin—Wo know of nothing that com-~ pels thom Lo aboy it. As wo understand it, thoro 18 votling in tho compact with the National Bonrd which authorizes tliom to dictato where tho companics shiall do bubiness, llgpurm-—'l‘lm isa mattor ot discretioun, iy it not Mr. Goodwin--1 think so, Reporter—ito you think nll tho companies will withdraw? D, Goodwin—1f tntwrosolution fa strictly true, thero must be genorul unnnimity on tho part of tha compunics ; but 1 have soms doubts whother the Ilwtford cowpnuics will fall into thw thing. If they do, it will bo becaso thoy fcol that their intereats in the Natlonat Bourd xro grouter than thoso in Chicago. Hartford hay a vitnl fntoress in Chicago, us nearly ull thoe lifo companios lonn money koro, aid sho will b loth 1o withdraw wnlens tho necossity i uporative. Teporter—Tho Dircetors and stockholdors in tho fire compsnics are more or loss interested in the life compunies ? Mr. Goodwin—Yos, Tteportor—Ifave any of the firo companies monoy lonnea hore 7 Mr, Goodwin—Yos, Tteporter—What would he tho rounlt it no in- wuraco policies woro uvailablo as soowrily for maney losned on iniproved real estato ? Mr. Quodwin—1t would returd the lonvlng of money. N Iteportor—It is naceseury for the lifo com- prnles to hold the fire insurance poli Mr. Goodwin—Most cortainly ; tho no loaning business hero unless-they did, Toporter—Will not thelr largo interosts hero tnduce them to briug o progsuro on the Nationul Donrd o resoind fie action? Mr. Goodwin—2"hey will undoubtedly do so; but their futorests zro not tho enly ones in the ourd, u‘llnpnrler—\vunld it not bo strong onough to seoure tha rovoeation of tha edict # Mr. Goodwin—I hardly thinl so. You probn- bly do not know that somo of tho ofllvers of tho Hurtford eotapanios were hore, nnd had intor- views with our Luginoss men, who toklt thom srankly thiat thoy wishod the insurauco compa- nioy would withdraw, bocauso i AN woro 'unantmous, the olty fl‘l&hnfizlufl would tuke hald of noadod roforms in oarnest, and put the city in o reasonably-go- ottro condition In a phort time, 1f -the firo com- panles have gone into this thing, and have mado up tholr mindy to withdraw, it is undonhtedly with that view—that Chicago will Sm to worl and will not ralnx hor offorts unlil t) forms aro carriod out. Roportor—Do you bellove that prompted tho action taken? i Alr, Goodwin—I know that somo of (ho mom- hora of tho Lxecutive Cowmitleo entorininod that view, which thoy gathored from our mor- chiants—thnt tiore would bo a'decided chango tu tho condition of things in two mouths, Roporter—Would not the gap made by tho wittidrawnl of tho ioardl companias bo Alod by others n renponsiblo ? Mr. Goodwin—All tho outsido compnnies would undoubtedly como In, but thiey aro & clavs of companivs that could do no business hero wi\fim thoy bad tho Board compauies to compote with, Loporter—How about tho organlzation of local compauion ? Mr, Goodwin—Tho withdrawal mlfiht liavo o tendency to tho orgnuization of Chieago com- nanies, but how far that would aesume tangible #hapo, Iconld not sny. If foroign compnuioy are atraid to do businons here, local compnutoy woitld bo afrald § and bosidos tho oxporienco of local compauies horotofors has boon vory un- fortunato. Tteportor—ITavo you had any dofinite instruc. tions from your compauics to ceaso writing policios ? Mr. Goadwin—No. Ttoporter—Will you continue lssulng at tho present rates until you get them? Mr. Goodwin—Cortainily. Rtaportor—Is there o wrilton agroemont to withdraw ? % . Mr, Qoodwin—I understand thoro is, but how mnny companies it embraces wo do not kuow. 1f the Citizens® Asuoclation does not relux ita offorts, I am satiofled that, beforo o groat while, if thoy soouro the rofotms noadad, a good many of tho companios will como ack, Lhe fecling of & good many of the compnnios is with Chicago, aid thoy will gowe baok if thero i n rezzouablo guaranteo of protoction, Toporter—What influonco brought about tha action of tho Executivo Committon? Mr. Goodwin—A unity of Now Yorlk intoreats, Thero ismore compotition botwoon that city nud Chicago thaa any othar, and wo undorstand that Now York mercliants who o sloolioldora_in the companles, huve boon auxlous to hqve this m‘J’ljlnu taken, If that bo trae, you can'soo the object, TRoportor—Which is to injuro tho crodit of Clucago abrond, #o that our merehants will hayo to go to Now Yorl to buy imported goods ? Ar. Goodwin—You can draw your own infor- oncos. C. M. CASE. Toportor—Xow do you regard tho action of the Committoo ? Mr. Caso—I rogard it as sousalional. I am sorry to seo it, us 1t iy very nufortunato, Rieportor—Do you think tho companies witl livoup toit? Mr, Caso—It is rathier difficutt to sny whothor all will, becausie wo do not kuow which ones have sigued the compact. Tha rosolution, it 1 sald, wos pessed unsuimously, Tha Exccutivo Com- mittee is composud of twolve men, who ropro- sent only twelve compauies, 1low many com- panies thoy will be ablo to carry with them I coinot oy, Roporter—Ts not that actlon binding on all? Mr. Cage—No. ‘Thoy havo no autuority to say whero a company shall do business. Reportor—What do you supposo was tho ob- ject of passing tho resolution? Afr, Caso—1'o #oours tho roforms needod hore, Reporter—Is It not o sorl of feeler to seo what effect tho withdrawal would produce ? Mr, Cueo—ILt lools to mo liko it, Roportor—"Tho companios can do businesa bero notwithstanding this sction If they chuoso to? Mr. Caso—Yen, unloss they have signed tho comprck & stoportor—Da you know how many have sign- edit? Br. Cezo—I havo honrd that thirty-five of tho lending companics have entered into au agroe- mont to withdraw ;*that, bowavor, may nos be trug. lieporter—Ilow many companion that do busi- ness here aro represonted in tho Natioual Board? Mr. Casa—Abont sixty; but thersare othors, which ere members of the Juce! Board, not bound by tho action in any way. TRoporter—Ilesponsiblo companioes ? Mr. Case—Iairly soj not the hoavy com- panics, but lizhtor ones, * " Reportor—If theso thirty-five withdraw, will nol othors but loss responsiblo companies como hero? 5 Mr, Oass—I think Ehoy will to s certain ox- tent. Iieporter—Do you think tho companios will withdraw permaveutly ? Mr., Case—Not if thero s a chanco to mnko monoy liovo; tho olllcers lovo money tho sumny G Lioporter—ls it not tho fact that the lifo and fire companics aro_closely counectod ? My, Cuse—T'hnt is Lruo'of certain ones in Hart- ford, and tho lifo companios have loaned largo sumg of monoy here, Teportor—Would not this unity of interest ro- sultan tho byinging of o prossure o boar on tho Nationnl Board to rescind their action ? Mr. Caso—~1Uhe ilartford companics will un- doubtedly bring their influonce to hear, Ttoportor—What capitsl do thoy roproeont ? Mr. Caso—Dotween §9,000,000 and §10,000,000, Ttoporter—What proportion ef the eapitul of the {hirty-fivo companies is that ? Mr. Cnse—About one-fourth, Tha thirty-five companics represent about 40,000,000 eapitnl. Roposter—What s the aggregato capital of tho othor Board compnnies? = Mr. Case—In tho ucighborkiood of $50,000,000; that does not includo the Engiish’ companios. Rteportere-Do the forefin companies beloug to tho Doard 2 Mr. Cago—Yos ; but somo of thom have not siguod the ngresmout, Roportor—Would all bo bound by it ? Mr. Case—Thero is only ono that cannot bo bound,—the Royal, of Liverpool, with a oapital of &16,445,468.52, Leportor—Havo you 'henrd anything about Now York morchants instigating the movement with tho viow of injuring thecredit of Chicago abroad ? Mr. Caso—T heyo hesrd that suggestod, and thero aro some indications of it, LutI do nos know cuough about it to give you a definite no- swor, . Roporter—Ia it not a fact that Now York mor- chants who aro stocltholders i Kow York insur- uuco companios bave urged this netion? r. Caso—Thoro is no doubt about that, Tho meeting of the Exccutivo Committea was to huve Loon ‘hold In Boston, bLut for some roason b was held in Now York, Drobably becauso It was thought necossary to secure cortain Now York influenco in favor of tho actlon. Wo lave beon nsked to do things which it was impoasible to do without timo, and the Bonrdl must liave known i, The local ngonts hinvo ropostodly asked that o committes of rop- Tekantativo moen bo wont horo to loak t tho sit- nation, and sugrost what was procticahlo; but instend of that Uiey have acted ot o distaice, without considering the dispositionof tho poople Liero to do all they conld. ™ Toportor—1'ho movement, thon, doks liko n combined ellort to carry out some unknown scliowo ? Mr. Cnso—1t doos lomo, Tha pooplo hora— our best men—hayve shown a d(axmn{umx ta do tomething to insura protection, We hnva not had ull the co-oporation on tha part of the city oflieinlu wo had the right to oxpect, still tho bot- tor citizons aro wide nwake, und wo could chal- lengo compurison with any other city in rogard to uctivity nnd unanimity in scouring reformy, Theso compnpios ihat are to Wwithdiaw zro in- suring pluning-mills n Cineinnati at the nnmo rates chargod hovo on first-class bulldings, Itoportor—Will thelr policies bo caucoled? Mr. Caso—No, ML 0. W, DARRETT, of the insuranco firm of Barrett & Montgomery, stated that bis fnn Lad the agency of five com” panles—tho Continental, of Now Yorl; tho Bx- chinngo, of Now York; tho Browors' and Malt- slow', of Now York; tho Morchauty', of Now- ark, N, J,; and the Pooplo's, of Newarl, N. J. " first threo belongod to tho National Bonrd, 1lo did not boliavo thiat moro than ono or two of his companios wonld withdraw, Ao yot, ho had not beon fuformod that any of thom would withe druw, His firm would go ou and do businesy as usnnd, vogardions of thi action of the Noard. Lo «id not thiulk that moro than hnlf of tho Board companics would withdraw, the others would undoubtedly vomaln, ‘Ihe resolntions pavuod by the Excoutivo Committen wore wimply reopm- wiondatory, lunwing It to tho option of individual companivi to withdraw or not, Tho Nationsl Board hud no authoxity to compel com- punion to withdraw ; gl the power it ImJ’ was to {ix ratos, 'The Bonrd of Underwritors in this city was opposed {o tho arbitrary action takon Ly tbo Nutional Duard, and rosolutions con- demuatory of its notion should bo passed, ‘Phiu notion, in hia opiviou, would not break up or dise organizo tho looal Iorrd, bub mumbors whono coinpunfes Lind withdrawn could no fonger he mombers of it. Ile did not beliova that the ad- vunced ratos could he mamtained, snd they should bo suspondod, loaving it to individudl Lhoy 3 cowpunios to churgo as muck ag thoy chosv, o noodod ra=" Suah.action had_boon taken onco before, and worked quito wolls THI MERCHANTS, MM, Lo %, LEITEN, My, L. Z. Loltor, of the firm of Flold, Lelter & Co., was next callod-on, Mr. -Loftor said ho liad givon n grent deal of timo nud nttention to tho subjeet of jusuranco, sud to tho oftorts mado .y cilizons to” acoura complianco with tho do- miatidn mado by the National Bonrd. Ho thougnt that theso demauds woro In tho mafu just and right, and that Chlengo would havoe to comply with thom. Of conrdo, such comptinnco could not bo lind in two months' time, and it wns idlle to enpposo that tho Nntional Board had withdrawn for (hat reason, “That was preloxt, to cover appogr- ancos. ‘The real roason why thoy had with- drawn wns that iho stookholdors of thalr companies had boon In a panlo over sinco tho firo of July 14, nnd had forced tho maungers to tako this stop. 1To bolioved the mnungers had rosistod it au long as thoy could. 1fo kuow that sormo of them regarded tho robuils portion of Ohiengo nu bottor than an averago righy but thoro way no uso in reasoulug with atockholdors who bad paid two nescssmonts to meat logsas in Clieago and Boston, and lLiad gono without dividonds two or throo yoars, T'la flro of July 14, though ronlly o boneflt to tho clty front “an underwritor's point of view, wna just Inrgo ouough and just destructive onough to nroduco o panio smong the elass whoso iucomo deponds itpon fnsurance dividonds. {r. Loiter thonght thoro wae only ono thing to bo douo, and that was {0 put ourselves in n condition whore thouse stockholdera would know that Chlengo was a good fire risk. It wns im- pouaible to'do buslness hore withont insurance, nnd, whilo ho did not spprohond that a clty which hind shiown such maryelous xonnfinmtivu powsr would now bo ruined by tho withdrawal of insuranco, ho folt convincod that tho with- drawal was o very sorious thiug, and that it must bomet by o substantial and oarly com- plianco with tho conditions nnmod by tho Na~ tional Board at thoir July meoting. v . W, KIRG, Mr, Ifonry W. King, of the flrmof H. W, King & Co,, Way convorsed with on tho samo subject, R,—What do you supposo will ho the offoct of tho nctfon of the Natloual Board? Mr. King—So far ns our fivm s concernod, wo 1 do uot, faol tho lonst solleitude. I rogard the no- tlon of tho NativuslBoard os being ontiroly abe sied. There was no noed for iv ot ull, Ivenr- anco s liko ull other businces venturcs,—if tho managers aud stockholders fecl that It 18 not o poying lnvestment Jot thoun, by all menus, with- draw.~ Thera will bo L)lnnty 1o take their pliood. R.—Don's you think that tho action of the Nationa! Doard will toud to injuro Chicago crodib ut tho Last? Alr, King=-If tho credit of Cbicago depended upon insuranco companies, I should bo sorry for our futuro. It dves not.” Tho men who pussed tho rosolutions of withdrawsl nover, perbaps, enw Chicago, Thoy don’L lnow tho *make-up™ of tho city, and are scared by sonsatioual ru- mors, Iam of opinion thut tho busineas sec- tion of Clicago is betler prepared to contond against fro than any business scction in any othor American clty that I know of, Thero is a privato wiro in_our building (Mr, King showed tho wirs to tho_ roporter); I have only to touch that wiro, and thirty men como to tha rescuo incaso of firo. ‘There aro water-pipos Lo flood the roof, and othor pro- cautions, aud wo are nob alona in this system of protection, All tho great Srms, and moxt of tho medium houses, are o provided, What more can Lo dewired? Of courso wo noed more large wator-pipe, which {s being put down ns fast us possiblo; but tho iden of asking us to remove all the lumber-yards inutnulzr 1n pouitivaly out- rageous. Wo could nob do it in tho timo givon, @ven waro thero uo logal obstacles in the way. Really, I nm astonlvhed that men who protend to business wisdom should act in so silly & way, R.—What do you thinlk will be the result as rogards tho companies ¥ = Mr. Kirg—I think thoro will bo o split. Somo of tho agencies will refuso to be bound by the nction of tho National Board, fn which, I think, thoy ara potfectly justified, Instead of hm‘lufi theke companlog withdraw from horo, T thin wmany of them will sccode. If they don't, other companies will step in, sud bo glad to got the chanca, Wo are not Euiug to bo scared by nn’y pompous dictation on the part of a fow sclf- sufliciont insuranco mon at the Kast. Wo have weathered toughor storms’ than this. Io fact, this is not a storm. It will only help to muko us more sclf-roliant, and teach Eastorn men, of tho Nationa! Board type, that Chicaga can run herself, and will not bo run by them., If all goen to ail, thero is ouough enpital right in this city, Joinad' to outade capital, to cstablish tirst-class Liome companies, and malko the preservation of proporty and capital o com- won intorest. Chicago, lilke all tho rest of tho world, will find hersolt hor best frieml. Whon thoso Enstern compnuics see that wo aro not afraid, and that things go on just as smaothly as over, they will be g ad to come pueaking back agnin, ono by one. Thoy'll be tho flrst Lo cat humble pie, for busiuess, liko wator, is always sure to find its propor level, R,—Do you think ihot tho Common Council onn bo urged to futthior action on five matters immediately ? Mr. King—1Tho Common Council have nirosdy shown {their disposition to bow to tha_populnr will in their notion of Mondey night. I hiavo no doubt tnat thoy con bogob to do anyblg in rcasou ; but tho Nationnl Board domandod of them sono things that, nuder no circumstances, could bo done ut once. Weo.havo to take time,— improvo our water supply, and have overy possi- ble safoguard ; but Iknow that the bustness-mon of Chicago have too much public spirit and pluck avor to bocomo, tho slaves of an outside body like tho Nuntionel Doard of Undarwriters. ‘Uho suonor theso gentlemon understand {bat the better. g 2R, JAKOEN. Mt Junson, of the bookselling and stationery fivin of Junusen, McClurg & Co., was also spoken to, It.—IIow do you faol about the withdrawal business, 3r. Janson ? MMy, Juusou—I feol nll sorcne sbout it. We eon face tho difliculty na wo Luvo mot many oth- ers, 1f outsido companios withdraw entivoly, which I doubt, tho bout thing our business-men and capitulists can do is to go iuo tho insuranco busiuoss thomsolves, If tho Lustorn companios think they nro losing nongy hero, no one will objeet to thoir gottiu dut, “That's tho way to wind maitors up, Wo wre the peoplo mose interosted, snd, if we work right, wo can got up o systom of insurando as good a8 any tho East oat afford ua. I havo not suflicient lolsuro to-dny, or I should talk moro fully on this point, ~ L'éen assure you that wo feel perfectly eafo, MR, WINSLOW, of Nichnrds, Shaw & Winslow, was noxt intor- viswed e follows : IL.—Ar. Winslow, does your houso feal unonsy over tha action of tho National Board of Undor- writors 2 Mr, Winalow—Not in tho loast, ‘This is not tho first timo that Tnstorn jusurance mon have tried to blufl us, Thoy rawed the rates of ine suranco so high that thero was great compoti= tion, and we, nt onc timo; wrate as Jow ny 45 conts, That wag sn sbsurdly low prico, but we were ennbled to do it on ace count of the yivalry of tho companies, 1 havo very Jittlo respect for tho judgmont of the NationalBoard any way. If thoy wanted todo shat was falr, thoy'd Liavo sent in a Committoa of In- vestigazion horo to sco how the ground wus, I thinlc if thoy hud 8o done, thoy woult have hosi- tated before tuking tho action thoy did, Our business soction isnssafo from fire as mont plnces thnt I have seon. On tho niglit of July 14, the tiro was checked tho very moment it renche ed . the business mcction of tho ocity, That shioswod tho difference. Lvery town gaiug y experienco, Chicago hay bad hors, not without profit, I thinik.” Whon Gllcs Drothors' l;hmn_ was buruod down next door, the fire was urning threo or four Lours without discovory, but_onr firc-walls stoppod. its furthor progross nntil tho Firo Dopartmont camo to tho rokouo, Ihovo talled with sevoral busineus-men about this Insuranco mattor, and all of thown scomed to think, with mo, that wosmust lesrn to bo indo- pendaut of Eastern eupital, 3, ¥, F. BLENOEN, of the firm of Hibbard, Sponcor called upon by the reportor for tho purpoio of ,;mn;; his vlowa in rogard to tho witihdrawal of tho Nutionel Board amnTnnluu. guve vont to hig foclings by eaying that tho National Bortd com- prnics conltd go It thuy chose; Ohiengo could got Mong without thom Just as woll, 1ho compne nios, he raid, actod (uito impudently, and the citizioun of thls ity cuuld not stand thoir diota tion, I they choso to go they could do so,— others would como hore and bo glad to do tho business, ‘hoy would finally come to ternu ay sugp i water would find {iu Jevel. Lyery man in Chicago awning proporty would double his cautlon, ~ and tnko auoh IMeasnron that' thore would "bo mno danger to his propert; from = firo. Thelr firm hud hevotoford carried s full line of innuranco, Dbut, hereaftor, thoy intend to ineuro but half tho' yaluo of their proporty. 1o did not think tho xcentive Uomimlittoo of the Nutional Toard could control tho stokboldors of tho Individusl compnnfos, Tho morchants of Chicngoe would ool this emorgeucy ay thoy always bad dono, ) & COo,, when Thoy would Imulp thelr backs up and dio gamo, ‘T'ho fnterontn of tha Chiengo morchants were §100,000 to the Natfonnl Board's 1 cont. This elty wau moro flro-proot now than over, and in n short timo would bo tho bost city fo the gountry Lo lnsuro in, The oditorial romarks in Lng Tnivusy: of that morniug wero timoly and woll ‘put. "It was n destardly blow of the bosluows intorests of .{hin clty. Tho Jobe bing trada of 'Now York wad rapidly coming hore, and ho bolloved that tho jealonny of Now York joblors hind inntigatod thin’ movo,” Uy {dea of driving lumber-mor- clants out of 1he city way uorruublrv rldieinlous, “'ha lumber teado wasfono of our madn branclics of Dbusinous, and could wot bo driven_away without fujuring all our vital intoronts, hoy mlr:llt,juut a8 woll domand that tita distilierios aud packing- houses which nbound in the hoart of the Cily of Now Yorle ha removed oulsido of the city limits. Chieago morchauts would ho hblo to purchuso oll tho gooda thoy wanted, whother tho {nnuranco companios withdrow or ot 1o did not bolleve that the stockholdors of tho Natlonal Donrd uompanies would submit to tho action of (ho offlcors of theso aoncorne, as it was thoir intor- est to keop on doing business in this city. T'ho Vastorn companien jnuat not axpect thnt Ohicngo could do n tmuch in tvo months as Now York bad accomplisiod in ns inany yonrs, Our uow firo_ordinaico waa a8 good na that of any clty, and atot-matny wore rapldly put down ovoryywhora, 1lg coinclded with tho idea of tho local Donrd, that lmmber ghontd bo kopt out of tho utroots, nnd {6 would certninly bo prohibited horonftor, Tico-traps would no longer bo al- lowad to bo put up, and atand-pipes wero putting “l’ In noatly all tho fltst-class busincss-ousos. Tho flre-walls bad beon ratsed on most buildings to 8 fect abovo the roof and nothing had beon loft undono by tho merchnuts of this clty to mnko thelr proporty ns seeuro ny that in any othor city in this country, In tho businosa blocks on Wabash nvenuo, Lako and Itandolph stroets, thay wore employing privato watchmen, who hnd to o around th buildings overy fifteon’ minutas, and, bosides, thoy had watehmen on tho insido. In his building thoy hind, besides wuch watel: mon, an_oxtra man to agulst thom in cawo of neod, Thoy lind four Dubcoels in tho bullding, and four pails of water on each flaor, Thoy could wot up steam in twonty minutes, and start tho olovator, for the purpozo of carrying up wator or gaving goods, It was contompinted by sovernl houses to attach n pump to (ho stosm-onging to draw wator in caso of firo from tho atanding main in tho streot. With all thoso procautious thoy wero charged by tho (tho standard height), ingurance compnnies £1.85, whilo similar prop- v.-rl.y‘ in other cities could cacily bo ineured for 75 couts, N7, W, DOANE, propriotor of tho Dosng uloef:. corner of Wa~ bash avonue and Lnko stroct, suld that the in- surance compnuios wero undoubtedly making n ‘:mnt mlstako, 'Iho city was anfer now than it hnd beon boforo tho Iarjse conflagration of 1871, ‘I'his was dowonstrated by the fire of July 14, when it was stobped as goon ns it roached the new portion. ereaftor ho would carry half the fusuranco on his property hinmolf. LEvon if tho companfes romafnod ho wounld not submit to " Buch outragcous charges au thay wero mow making. Thoro wns but M(tlo danger to his proporty, A watchman was going through the building threo times a night, and ench timo had to turn tho watch-cloel, which was exnmined overy morntng. ‘'hero was & steam-pump connccted with the stoam-engino in hiy buudinfi. and ovorything was as securo as it could possibly be made, 1Ilo was now charged 50 por cent extra beeauso he hnd no fron shut- ters on that sido of Lis building fronting the alley next to Randolph, though thoro was not n bu[ldqu within 800 feot of it. On tho rear of the building, whero other structures wers near by, he had givon justructions to have thom put o, s In his opinion {overy company that withdeaw would be brek again ina short” time, becoming couvincad of tho ntupidity of their action. Thero was no bottor city fu the country for insuranco compnnies to make monoy in, and tho . tompta- tion to makoe money wquld forco them back again, This was o splendid opportunity to start local companies, and if ono was started on_the right Lasty ho would invese hoavily. He belloved tho companies had made moro money in Chicago sinca 1871 than in ony other city, mob_excopting their losgos by tho fire of July'l4. This nction by tho Exccutive Commitica of tho National Tosrd might linve o tomporary bad effect, but thero would be cnough compunles loft for all necossary purposos, and, with the precautions olready tnken, ho could soo no reason why wo could not got a3 much credit ns ever boforo, Be- foro tho fusurauco now hold matured, tho ro- fractory companios wonld undoubtedly bo all back cgain, 1lo conld not posalbly bollave that thieso companios intondod to stay away, s by Josing our premiuma thoy lost & large nlm.m of their incoma, i LOAN A(}ENTS,ECOMM!‘SSZON MEN, .TC, JOUN A, TYRRELT, of the firm of Wright & T'yrrell, oxprossed him- solf as follows: Roporter—3r. Tyrrell, what do you think of the action of tho Nutional Board of Undorwritors, ag set forth in this morning's Tninuxe ? & Ar. Tyrroll—It is o bad thing. I think it will mako a little disturbance of businoss, but tho companics will not run from the flold on masso. A fow may, dopatt, but thoy will drift back. I cannot soo any necossity for the withdrawal, if the City Couneil and the citizeny livo up to tho fire ordinanco. Ttoporter—What will the immodiato effcct of tho withdrawal be upon businesa ? Mr. Tyrrell—Woll, T can apeak for the loan businoes, and say that it will bo vory damaging. Lonns now pending will romain'unnogotiabta until tho matter is dofinttely sottlod. Monoy caunot boraiged upon proporty unaccured against loss by firo, Roportor—What 3 you think of o system of mutual insuranca on the port of our busiucas men ? Mr. Tyrroll—I do not think the systom would worlk well. A throe-million Chicago insuranos company doing business “elsowhero as woll ns Lere, would supply tho placo of & host of the doparting companics. Such o compuny could bo gt up Lero in o very short timo, and, whon onco in full operation, it would prove o tower of strength to tho city. Roporter—Do you think the Nationnl Board hay o corroct iden of Chicazo nnd the nttompts sho Is making to ronder hersolf tncombustiblo ? Mr. Tyrroll—No ; and that is just where the troublo lies. Whon folke are far away, danger of fire is always magnifled. Now, at the timo of tho recent large fire,I was travoling to San Frane citeo, and tho firot nows which arvived was that Chiengo woe juashes, Tho offect produced in tho car, which wns & sleeper, was romarkablo, Lvery man got up aud dresged himeolt, Sloop was out of the qucation; and, with mysclf as the sola oxcoption, ovory passonger placed implicit credonco fn tho fullost purport of tho monsage. Ho it is in New York. Every timon firo oooury in Chicago thoy foel rolioved that the city is not ruzed to tho ground, A gontloman who was in tho room during the interviow siatod that ho haa partlelpated in a convoreation with soversl leading fusuranco men, who statod thut thore waa no doubt thoir rocont action would resuit in the broaking up of tho loard., Tho opinfon was frocly exprossed that thio actlon was ill-timed and lnsty in tho oxtreme, in ovidonco of which the action of the English compnnics, whicli ure notoriously cou- sorvative nud cantions in thoir nction, aud which bavo not even hinted nt withdrawing, was quotod. i gentloman himsolf oxpronsod tho opinion that the attack on tho orodit of Ohiengo nud lior busincss meu was not less savage than if tho Board ind come to Chicago with the in- tention of cutting nll their throats, o thought it was o bittor losson, but that tho rosule of it would bo Lighly botoficial in tho ond to Qi eago. W, It WELLI, Among thoso intorrognted was W. H: Wolly, Ty, of the Charter Oak Lifo Insuranco Cotns puny. ‘Pho conversntion was as followss Tieportor—What do you think of the aotlon of thio Natlonnl Board of “Underwritors, Mr. Wolly ? Mr. Wolls—I don't know what to thiuk of 1t but I will eay that I thivk the oceasion is ono in which & compromise {4 the only thing.loft. 1t this wero accomplished, I think an nfmm"m"" ought to bo arrived n matinfuctory to all Portios, 1t would be very unfortunate for Ohicago's busi- nosg-mon 7 the compnuies wore alfowed to withdraw without means being takoen to provent “l?l‘«l:‘fmrtor—nmr can n compromise bo offeotod ? Mr, Wolls—I think {lat s committoo should Lo appointed from onoh of tho conflictiug in- torosts whoso duty it should bo te doviso: somn wmoeana by which both conld ba satisflod. A littlo givo way on both sidos Is nocossary, If Thadn quurrnl with mir neighbor, aud “eny to him, #Waell, perhinpa 1 am {11 tho wrong afier all," tho probnMHL,y i that ho will turn round and_may that thera in o chianco of hig boing wrong, Thon wo enn nit down togethor calmly, and sottle tho ntter in disputo in a satlefactory manner, 1f Chicngo shows a disposition to gradually mend muttory, tho Bosrd “would probably mike all nocosuary ellowaucos, ‘Lho Board “ehould core tainly allow tho city » ronsonnbla tmo to work thinga out of thoir pronont condition, Roportor—What do you think of the idoa of mutnal insuranca by our bustnens-mon ? "Mr. Welln—I don't think that would work at all. 31 G, T RATHOND, of the commimion firm of Jones & Raymond, Hocratary and Lreasurorof tha Chinmber of Com= orco, snld ho consldared tho netion of tha Bonrd exceetingly hasty, and it would injuro the busie nous of tho city somowhat, but nv:ou(ill com- panios would romain to doall tho insuring hecossary, In his opinfon, tho rates adopted by tho Board of Undorwritors woro oxcessivo, and hio ind refused to pay the increaso on tho Clam- bog of Commarco Building, 'I'ho Chawmber of Commorco was au good & rifk sy most buildings of that kind, and yot they wora charged 3¢ por cent, whilo tha snme bullding In” uny other city wonld insure for 1 per cent or less, Thoy wero chnrged such high rates becauro thoy had mo iron whutters on the building,” It wan an impossibility to have thom put on, ns tho building bnd o stono front on all four sides, Lheir proporty was mostly in clovators and pork yarolouscs, and thoy always carried & largo lino of insuranco themsolves, ‘Thoy had ronted o largo warohouso on Wesb Twonty-socond siroet for thia storngo of provis- ion, and thoy had mado up thelr minds to Lo thoir own insurors thoro ton greas oxtant, Thero was 110 nacessity for paying oxcessivo promiums, thoy hoing ablg to make the properdy comparn- tively rocure, , IR, BODENT WADREN, boing Intorviewad, suid ho had nol thonght over tho mattor suflclontly to spenk of it intelli- gontly, 1lo was much surprised at tho netion of the Exceutiva Comutteo of tho Natlonal Board, a4 he conld sco no reason for fi. 1f Insurance wud not 08 dosirablo hore s elsowhoro, no ono wag to blame for it but tho companios thom- solvon, nd thoy not overineured proporty in stich o reckless monner thers would nover have been any incondiary fires. Thoir action would interfero but litela with our businoss prospects, and cnough companies would romain to tako all tho risks offered. Ratos would fompo- nu-ll{ bo somowhat higher. But this would not lust long. Ho had been in Loudon o short timo before, and whilo thero ho met the Prasident of tho London, Liverpool & Globo, who eoxpressed s opinion that it would be bottor for Lis Com- pany to withdraw from this city, 1le soon con- vinced him that Chicago was aé good o placo for insuranco 83 any othor In tho Unitod Btates, ngd tho Presdent promised (o send au agont {0 this city to mako a porsonnl oxamination befora tho ordor of withdrawal was glven, 3R, 0. A, WRIGHT, one of the londing commission merchants in this city, slated that ho did not boliovo the com- paules wore in earncst, aa thoy could bot afford to talko such action,” Our hazards woro no worse than thoso of other cities, and tho rates woro much lugher, The Jtmpm'ty of his firmwna moetly in elevators, and ha did not think the companies would ceaso to writo on such prop- orty. Whila tho rates on all other property ind been advanced, the rates on property in ele~ vators had not boen disturbed. Tho demauds of the Nutlonnl Bonrd were, to say the lonst, ox- ceedingly insolent. Tho iden was ridiculous thet thoy shonld dictate to ns what to do. Thay woro doing busluess hero lko other peo- plo, for tho purpogo of making monoy, and, if they found Lhoy could mako 'nono, thoy might step down and out without much ado. Obieago eould get aton without them, and could take caro of itsclf, I‘i bnd grown largo and prosperous without their nid and nssistanco, and would continuo to grow and progper whothor thoy were hore or not. 'I'he insuranco compnnies wore in a great mensure responsiblo for the present state of affairs, and il there was mxythlng wrong they Lad to nseribo it to their own greediness, They had been in- suring all kinds of property with perfcct reck- Ieysnees, nover inquinng whother the insuror was responsible ‘or not, and charging just the sawo, thoreby holding out a temptation for ursom, — THE BANEERS, Tho roporter noxt wended his way among tho bankers, and convorscd with soma of them on tho groat question. Ilo firat mot NN MENRY OREENEBAUN, with whom ho had the following couvorsation : Roportur—Mr. Greoncbaum, what do you think of the ordor of the National Board of Undorwritors recommending tho withdrawal of its companies doing businces iu Chicago ? Mr. Greenobaum~I liave not givon the matter much thonght, I have nover contemplated goriously that Chicago would bo loft without sufliciont facilities for insurauce, and L do not now think that such will oyer be her condition, Tho ides is ridiculous, Thero will always bo enough good relinblo insurance companies in Chicago to do all the insurance business she ra- quires. I congidor thata Chicago risk at tho pregent day is quito s good as the averngo ac- cnftud b‘)' the companies of tho National Board. toportor—In tho evont of withdrawnlof o number of tho companies, what do you think the result would bo 7 Ar. Groonobsum—I do not think tho result will bo ot nll gorious, Roportor—What do you consider tho beat remady for tho ovil caused by thelr absence ? Mr. Greonobaum—It they withdrow in large numbors tho matlor would' become a question of homo protection. It would bo praoticable for_our merchants and capitnlists to club .to- E:ther and mutually insure against losses by firo, this worked woll, It would” pay tho city much bLetter thon supporting foreign componies. Eos tho amount of premimng wo pay ovory yoar to such. Of courso, in_case of & vnri larga firo, such {nsuranco would bo valuoless, but tho city vould not bo worse of after it than after tho Inat fire, when tho insured only got *50 cents on th doblar. Dasides, tho probability of anothor largo firo Is yory small. At suy rato, it will not oceur boforo Ohicago is woll able to stand it. ‘Tho last great fire has reducod to n minimum the probalility of a recurrenco of the 9th of Uc- tober, 1871, MR ——, ‘The reportor callod upon o banker who did not want his namo published. Ife was one of our loading baukers, howaver, and tho etraight- forward manner in whiah he spoke showed that ho was torribly in earnest. In aoswor to the firat quastion of tho reportoer he enid ; Banker—I think the National Board of Undar- writers are a got of humbngs, They havoe dona moro to Luyt this city and ita crodit than all the big firos put togethor. If tho Board want to RO, Jot thom. Wo shall bo bottor off without $hom. Tteporter—What do you think the rosalt will ba ns far s busineas is concarned ? Baukor—I do not think the withdrawal will burt businoss at all. Bomo few pufl:ln will feel norvous and uncomfortable, but that will soon pasy away. I wanin Now Yorlk a short timae ago, and, from tho tone of convorastion of business mon thoro, it was spparont that thioro oxisted thoro a strong feoling of joalousy of Chicago and bor woadorful progress. . Toportor—What do you thiuk wil bo the besk muans of protootion when the Board companics Lo withdrawn ? Danker—1'ho busincss men of Chicago must 0 in for tho oroation of o mutual nsnociation. Thoy must club togethor, Euun ncartam amonnt onch, nnd leb tho suffaror by firo bo ropaid out of tho goneral fund. 'I'ho objection is uged to this thatin the evont of o big five, such as that of 1871, aueh insuranco would Lo valucless, Bo it would, but quito 24 good a8 the insuranco of tho Nutional Doard, ——— . THE INSURANOE OOMPANIES. Tho followtng are tho companied doiug busi- noos In Chicago, those marked with a + boing mombers of tho National Doard, thoso with a § tho Board companies which aro bolieved to have signed tho agroomont to withdraw, and thoso with & ¥ the compunios whioh arc not members of either tho National or looal Doards : tAdriatic, Now Yoik, atoriown, N. Y.L {taburg, i it *Amorian, Chicago, Amorican Gentral, 8, Touls. ‘Amorloan Fire, Vhilndolphiy, Aeriean Sutusl, Newnrk, N, TArotic, Now Yorl Atlas, Now Orleani, {Arulouia, Bitibirg Tatuitio ¥iroand Mari tAtlutic, Drooklyn, X, Atlua, 1Turtfordl. .., ‘Aurota Viro and Al $langor, Bangar, M Ton Lranidin, Alleglony, TDinck Iiver, Watorlowa, N, Tirowers! und Maltstors’, Not ¥ Browora!, MiIWaukn. s s, 1BnfTulo Gorman, Buitato, N, ¥ 1Citizens’, Now York, Qltizons’, Nowark, N, I *0itleos’, Bt, Lo, *Glay F. & M., Newpa Councelicut, Hartfurd, Continentu), New_ York, Coimuerco, Now Yorl *Gummoroldl, Ht, Loul {Gommurulal’ Unjon, London, 55 Dotrolt &, & M., Dotrolt,,,.. *Dwelling-liousy, Dostow, ik Ellot, Hoaton,.., . fiqud.’s\lln, Provideics, juttablo, Nesuvillo, & tExchangt, Now Yok 1Faneutl Hall, Toston, 200,000 Yotaog Phlladolphing sosees s 0,000 \ 200,000 Lniencia Connty, Norwally Cari nora', ’ ) mora's Morclutt’ & Meolautes'y 10000 ool Yarmoral ik, Freoport, 1I *Enrinora!, 100,600 Farragnt, Now York, 200,000 Fire Assoctation, Thil 800,000 ¥iromon’s ¥unld, Son Franch {TIromen's Fund, Now Yorke, Tlremen's, Daytan, O, ., Trankliu, "Wholing W, 1! Frauklin, Indiaunpoll *Eranklid, Tostor, My Trunklin, 8t, Lows, Mo, 1Goeman American, New' “Gernun, Krie, Pa,. *Gormau, Quiney, it 1@ermania, Now Sork *@irard, Philadeiphia tilonn rumi, Now Yor Dromen, 1 $itariford, Hariford, . tHofTnan, Now York Thurtford i, Hollor & Tnapection., 1lomo, Cofumbus, 0, “iomo, Galveston, Tox. 1ilonio, Now York.. 3Haward, New Yorl. Stiuaboldt, Nowark, N 31+ #Inaurance'Co, of North Am plia. .. whiss Tinporial, London, ! Hrving, Now Yorl,... “Kuusis, Leavenwori #Lancanbiro, Muncliostor, 1Lancastor, Lancaster, 1" Tamar, New York 3Liverpool & Lou 1L?£Hdm| Assuranco Corporal ,L“a-; “u.uu-u. *Lycoming, Munoy, $Manbattutl, Now York. ... IMunufuctiirora’ ¥, & 3., ‘Tioston. +echnules’ nnd Traders), New Yorik, Mereantilo, Clovolund.., Meréantilo, Ghicago, 111, Merchnuts’, Pravidence, Morchants' Mutual, Nowar! Merlden, Moriden, Cona, *Michigun Ktato, Aurian, M *Milivillo Mutuat, Aiivito, N, 7. “Milwankoo Meclianica’ Mutual, Mliwaukeo, talisubsuipp Valloy ¥, & M., Moinphis, Tenn. Narragansott, I'rovidouce, Tt I iNutlonal, Heriford *Nattoual, Philnde] $National, Now Yorl Newport, Providance, $New York & Yonker, Ko ;Ningara, Now York !Nurllmc:lem Nutional, Miiwaukee, ),000 ~N_0fl.|| British and Mereantile, Liverpool,,, 1,260,000 1New Humpshire, Manclcstar, '3 ness Lo oboy thohe 1Now Orlouns Alutual, New Orleaus, 500, Old Dowminion, Richmond, Va, 200,000 $0rient, Hariforl, .. . UH0,000 {Pennsylvania Fire, A 490,000 *Peun Fire, Philndelphis, 210,250 Teoplo's, Trenton, N. 200,000 Toople’s, Newark, N, 4 200,060 *Leopla’s, Memplifs, Teun, . L0000 3$Plonix, Brovkiyn, o 1,000,000 hwnix, Hartford, . 600,000 Thuwaulx, 8t, Louis, > 160,000 *Pluuters’, Mem; . 200,600 Pregcott, L w0000 Trov, Waslilugt 200,000 1Queen, London, 899,000 Reading, Deadlug, ¥ L 04T Ttockford, Itockford, 1iI, . LU0, ogor Willinins, Providonco, ii, T g ‘Toyal, Liverpaol. 1,447,400 ththodo Tudaud Tns, Association, Brovidunce, 8t Joseph Fire und Mariuc, St Joseph, Ao, 38t, Nichiolas, Now York,,. . 181, Puul 1o and Marino, St. Taul,., t8eottish Commercial Ins, Co., Glasgos 18hoa nd Leather, Boston 48pringlield Fire oud. Mo Nass, ,. ey 8tandard, Now Yor 1Star, New York., 18un; Cloveland, *Trade, Cunden) N, J,o.1! *Fradors, Chicago, , Tradlosticnis, Now York., Undarwriters’ Agunoy, N Unfon Mutual, Piilsdelphia, “*Western, Toronto, O, W, Wostohoter, Tioohele, X, *Willlamsburg City, Brooklyn, Workingmen's Natioual, New Orieans 142 companles, totals about. +§50,000,000 ——— THE HARTFORD COMPANIRS. Special Disputch to The Chicago T'ribune. Harrronp, Conn., Sopt. 2{.—The insurance compnrnioa ore singularly unaviinous in the Chi- eago complication and enthusinatio in their praje of the action of tho National Board iu New Yorl yuatoédny. Looso firo ordinances and political 8ro departments aro complained of s oxcoed- ingly perilous to ‘insuranceintorests, Motwith- standing the high ratos, thoy claim that insur- ance iu that city has nover beon profitablo comparativoly epeaking, and thoy plead the prosent movement puroly on o business basts, and say that under the prosent rogulations thoy cannot nfford to risk thelr money in Chicago, All but ofo company hero are membors of tho Nationsl Doard. Formal eetlon will bo takon in n day or two, and from tho preasnt foeling 1t is ensy to eao what that action will bo. Unless Chicago shall adopt somo posi- tive mensures ruudurflxg risks loss hazardous, thoy will follow tho suggestion of tho National Board, and, 88 & puotection to thomsolvos, oulitoly censo business in Chicago on'Oct. 1. 'Tho oawe may bo snmmed up in the words of Mr. Olark, Assistaut Sccro- tary of the itnn, that, ** Unless Chieago will do somothing, jusuranco companics cen do noth- ing in that city.” The Atlas is n.singl» oxcop- tion to tho above. 1t is not nmembor of the Natiounl Board, and will continuo business in Chicago, but at such high rates, it thoy can bo fiat (otherwieo thoy will withdraw), tunt it will 0 oxpediont for proporty-ownors” to adopt all poesible precautionary mensures. P i oy TEE PEILADELPEIA COMPANIES. Speciul Disputeh to I'he Chicago Tridune. Tinuapznruia, Pa., Sept. 24.—Tho only Phila- delphin companies now doiug o large businoss fn Chicago oto the Insurance Compauy of North America, the Pounsylvania Fire Insurancs Com- pany, the Amorian Insurance Company, tho Girard Firo Tusurance Company, and tho Firp Asgocintion of Philadelphis. Tho firet three bo- Iong fo the National Board of Fira Undorwritors. Your correspondont called to-dasy upon tho principal officers of tho companiea ropresentod by the Doard, and found that all had dotermined to dincontinuo tho business of firo fusuranco in Chicago on and aftor Oct. 1, uplesa tho suggestions made by the Board were ncted u{»lou bofore that date. Ouo pontloman stated that it would bo maducss to take risks in o clty protocted anly Ly suoh a corrupt aud im- potout orgnmznh’nu a8 tho Chicago Fire Depart- ment. The irard Fire Insurauce Company havo appointed o Committeo of three , Di- roctors who will bo in Chicago on Oct. 10, and, after investigating the matter for thomsolves, will report to the Company. Until thon no action will bo taken. The I'residont of tho Firo Association said, i roply to the ques- tions of your correspondent, that the Chicago ngobt was in this city to-day, and tho mattor wus to huvo boon dooidod osther ono wayor tho othar,'but, os tho agent was suddenly oalled to tho sick-bed of a rolative at Pittuburg, tho ques- tion na to whether the Compauy should continno to insnro in Chicago or not had Loon indoflnito- 1y postponed. — SPRINGFIELD (MASS) FIRE AND ARINE, Special Dispateh to T'he Chicayo Z'ritune, BenixorisL, Mass., Sopt, 24,—Tho Firo and Marine Insurance Compnuy, of this city, tho ouly firo fusurance company in 8pringfleld, will follow the rocommondations of tho Nutional Doard, and discontiune business in Chicago. Tho Firo and Marino hag at prosont comparativo- 1y amal risks in Ohieago, having mado somo ro- uction since tho fire of last July, snd theso rigks are so soattorod that only & Bwooping fire could cause it sorlous lose, — OUR TFIRE DEPARTMENT. Speciut Diepatch lo T'he Chicugo L'ribune, REPORT OF A COMMITTEE OF TIE NATIONAL LOARD OF UNDERWRITERS. New Yons, Bopt. 24.—~Boon aftor tho Iast great firo in Chicago, tho insurance companlos ropro- soutod in the Natlonal Board of Firo Under- writors beetme goriously alarmiod a6 tho recur- ronco of conflagrations aod consoquont lossoa i that olty, rosulting in tho groat impairmont of oven tho bost ocom- panlos, Aftor maturo doliboration, it wau rosolved that tho people of Chicago shounld bo called upon to take moasures required for tho provontion of confiagrations, and in tho ovent of Iuilure to do this respousible companios threat onod to withdiaw from businoss in thot clty on Oct, '1. Tho action of tho undorwritors wag basod upon tho roport of thelr spacial committoo nppolmu,q to inyostigato tho Chicago Lire Iflnpurhun‘ul. Tho following is b f tho report: thgtu\;‘l:uur:,\::?nz“y cnnllxonnd by & Board of four porsons, who devoto about ouo-sixth of their timo to its duties. Promiuent candldatos for offiolal positions in tho dopartmoent appoar to have indulged in tho approprintion of boots, aud shoos, and clothing at fires, Lut thin soomy 1o huve boun no detviniont to thoir Do- artmont, Tho discipline, thoy think, is vory nd, The horsos aud onglnod aro good, but the oficlency of tho forco l8 questioned, Tho mén aro reprasontod a8 dronginy Iu bluo shirts and pnm‘l‘donnn without cnmu,“:lm g‘nhoml o bolng without any distinotivo badgo, horo {8 noither rospeot for Auperiors nor rendl Tht‘)’rdu’x;lu. No syntom of ntreet on nro not to acconnt for lllmo,llcufivex:} ,L!mhl are o " of” any Hort. Through tho inflammablo lumbor dlutrflat loco~ motivos run atall hours of ‘tho night. In the samo dintrick gas I roanufaotured from petro- Joum. In tho oplufon of the Committeo a fire startiog fn the dlstriet wonld bo boyond tho power of lLuman oftort to oxtinguigh, horo w1 no invostigation of firon of incondinry origin, The city ia liabla ton ]mTo conflngration atany timo: Xm, from the inflammable matorinl of ‘the buildings, and the reckleus mauner in which Lhe 0T put up; and, wacond, from itu natural situation on flat ground, nnil witliout protaction from tho prairio and lake galoa, putrol oxlsta, ok ime g‘m:mmlm:. Tho President of the National' Board of Underirtitors, Honry A, Oakloy, sayy in lrni;{:r‘- oneo to the firat roquirement of tho Board,—tiint of cotablishing pormatont fire-limils cooxtonsiva with tho corporato limits of tho clty,—thag tho Common -Council of Chieago tind Lmuned an ordinanco, Lo that effec ut tho undorwritors havelvory littlo cpniucneg thnt it will bo enrriod ont, ila exoeution being oft to the same porsons who have rofused to oo opurato in tho other improvemonts, No build. iug lnw has beon presod, 80 tho socond ro. Juiremont U “boen totally ignored, ‘ho undorwritors, howovor, by making Ligh ratos for woodon buildings, have ondeays ?l‘fld to bring about tho samte resuls, aud many ’Jl:nprmcmemn havo boon sooured in' this way, hl‘l’ Firo Dopartmont romuing undar tho sme political influence that the Board xuoolud to, é‘xfixé’éfi“p!fl% o r!tlm Deportment {8 yet mne o o Clia ourth roquirciuont {s in refor- BIZE OF WATER-LAIN and s tho most jnportant, Aan;'plumnmnl re- port, mnda by tho Examinfog Gommitteo, July }x}r’-i::;d “:gxcr pugllllulmd, shows that tho water- hicago o "y Chloage woro of 3,4, "6, 8 this city s 13 Aro numorous enough, but when the supply is so inndequate, 000 appropriated being ingufliciont, yoar. nn} i m;};us The &200,~ to romeds this ovil, bosides is \lunvnlh\)ln‘ til’ another Nothing hus boon dou reguiromanty, MG respeoting tho otber liose ara the rensons which P; gl"fil for tho wm;d‘x;n\vnl. Finllort Oy, lhe compauies in the Board ro; resonl than threo-quarters of tho énnlln‘; ouj :g::}o{: tho business of insurance, Tho ngum’ In~ surance Compnny of Chicago, 2 member of tho Board, President Oallog, said wns hearlily in sym- pathy with tho movement, bt could bnrdly” ro. fuso to do home businoss. 3 ANOTHER ' INTEDVIEW. The Presidout of ono of tha most prominent firo insurance companies of this city stated that the Trohnunlny wag, that tho action thus taken ould rosult in the welfars of Clicago, ns tho city would probably pasa from the hauds of un. worthy pooplo iuto the control of thogo morg likely to caro for ita Intorosts, Tho amount to which outeido compantes ara now interosted in Chicago can only bo approxi- mated, but tho amount of risks which have baon \v::ilxdrnwn, or will bo, in cousequenco of (hig action, WILL NOT DE LSS TIAN 8130,000,000, represcuted by forty or fifty companies. At the Homo Tusuranco Compnny's_offies {4 wau stated that fifty companion wore pledged to roulre from businoss in Chicago; that thoso companios represont 75 per cont of the capital of those taking ‘risks thoro. ‘I'iore wore n fovr oompanies which would continua businoss thor but they wera not membors of the Doard, nu‘(l woro gonnrallg weal:, B Thomas II. lontgomery, Agent of the National Board of Firo Undorwriters, unid yosterday that it wag timo that the authoritios ok n:n J'\.g-x-ncrm‘i\-m}: $200,000 or the coustruction and placing of maing an fire hydrauts, but the Wator Bopiuons o m?\ city, Mr. Chosbrough, ausorls that £2,000,000 ca bo exponded upon that work alone, Previous to the mnuuui:, tho ofiicials of many ‘ot tt;c:‘ élgadu}g eomx(mrfi,uufimddunuflicinlly fi lorm e oflicers of the Toard that they docided {0 ehi WITHDRAW ALL TILEIR BUSINESS in Obleago, nnd hewco it wae concluded that thero would bo tho grentest unauimity iu talsing tho ndvico of tho circular issucd yostorday. hir. Montgomory folt it was porfectly safo to ey tliat nearly every ono of tho English compa- nies, sud all the leading American compauics, would take no moro risks in Chicago unlees tha neoded roforms wero mado, % BEMI-OFFICIAL, - Newr Your, Sopt. 24.—ThoNow York compantes have unsuimousty agreed to follow tho recom- mondationa of thio Nationa! Board, and will un- doubtedly withdraw. Frepznick HAnaay, Speelalor ofllor, THE BLACK RILLS, Lxplosion of Rccent Storics Negarde ing Thelr Wonderfal Gold Deposits, . Wasiisatox, Sept. 24, —Fuller and lator ro- ports recoivod hero judicato that the rocont glow- ing accounts from the Dlack Hilla conntry are eutiraly narolisblo, and confirm tho opinion of Prof, Winchol that thore are no valuablo minorals in the country. Col. Fred Grant, who sccompaniod the expedition, under epecial in- structions to report upon ita goological chiarac. tor, says that tho roock on which 1tis claimed gold wes discavered is of & metamorphio charac- tor, in which no preolous minorals havo over boon found. Not over 88 ‘worth was broughé under lis observation during tho catira oxpodition, and it is n question whether this was not imported into that section. Tho timber bor. Tho aren of tillablo lands is vory small, there not being enough for a dozen good-sized farme, The Sloux Commiseion latoly sont to nogotiate with tho Hed Cloud aud Spotted Tail bands wout in their explorations to the buseof tha Blook Hills on the south eldo, and give substan- tially the some viows as (rant regarding the aharacter of tho couniry and the abyetco of min. orals, ¢ Tho President is omplrtic in bis dotermination to carry out the orders of Gou. Bhoridan to pre- vent ol invasion of tlis country by intrudors sa long na'by law aud treaty it is gocured to tho Indinna, SPRINGIIELD. ‘The Stats oard of Egualizotion Discharged-"The Lincoln Monuw moute Special Dispatch to The Chicaao Tridune, SrriNuriELD, 1L, Bopt. 24.—Tho Biate Board of Equalization did nothing to-day save rofor the reports of tho Committees on Porsonal Proper ty, Town Lots, aud Lands to tho Committco on @onoral Equalization, sud make a few changes in the por conty on town lots, . Mr. Niohols, of Howe's Olreus, arrosted and liold here for baving in hia possossion the sup- posedt Oharley 1toss, was digcharged this after ternoon, Mo couvinced the Justico bofore whom Lo was arraigned thal ho was tho fathor of tho boy in his posscosion, and not Mr, Ioss, Tho statug of Lincoln and cont-of-arms for tho Liucoln Mounment arrivod loro to-dsy aud will bo placed in position in n fow days. Mr. J. K. Dubols has "beon solectod by the Mona~ mont Assccintion to propare nud road u history of the Bocioty and its work on tho occasion af tho unveiling of the statue, —_— A LIQUOR CASE. Corvespondence of 'he Chicago Tridune, OneLy, 111, Bept, 33,—Tho temporance poopls of our villagd aro considorably olated_over_tho conviction of o saloon.keoper namod Frod Mat« thist, Up to lnst yoar onr town was a_straight probibition villago. Iu tho spriug of 1878 tho Toonso-party lected tho Board of Lrustogs by o majority of 16. Last spring it was redoemed by o ninjority of 20, T'ho saloon-koopers ’nlt onco mado preparations to evade tho law. Two of thom—8olon aud Magill—wore fined, aud, on thoir refusal to pay Lho sanio, wore committed to Jjuil; but, aftor ‘nnklng through the bars acouplo of months, they conocluded to pay up sud quit the businoss, For n whilo went smoothly; but of Iate cortain partice have been seon on stroots ju. toxicated, and tho conclusion was inovitables thut somo ono was solling $ho “ardent.” Frod Matthlot, who was an old offondor, waa arvestad, and yestorday was iriod boforo 8, II. Pormoy, Xsq, J. 1L Fankand A, E. Harding pmlucuiv- od, and A, P, Wright and W, I, Arnont dofonde od. Afier tho jury was impanelod, it was found that tho wnneuau»l_ amounting to twouty, had abwcouded, thus leaving the proscoution In rathor o tight place ; but those: gontlomen woro aqual to the ewmorgonoy, Thoy b once subpw- nacd two from the hg'ubnndnm. who tostifled to fivo sley,—tha rosul being 4 conviotion, and a fino of $100and cosls, Po.dny tho withosuca aro holding s matingo for contempt of court,— the dofondaut refusing to pay their finos, na ho bud agroed to in owso thoy should be Aasd fox absonting thomeolvos, is spruce and yellow pluf and valuoless for lum- -