256,120

305,602

Average of six years.. 2,004 $22,217,845 86,064,260 334 3,702,974 1,010,710

With the exception of the year 1860, during which the number of fires was excessive, the return shows the normal regularity which the result of similar statistics in the Old World naturally led us to expect. The average number of fires per annum, as shown in the above table, is 334, from which 1860 differs by an excess of 63. The average in the years 18551859 is 321, and the greatest variation in any one year is reduced from over 15 per cent. to less than 7 per cent.

Column 2 exhibits the amount reported as insured on the property damaged, or destroyed by the fires. Taking the years from June, 1854, to May, 1860, as a basis, the amount paid is to the amount insured on the property as

27.96: 100.

There are many interesting deductions which might be made from this table, though until much more detailed records are preserved, it will be impossible to reduce fire insurance to a mathematical basis similar to that which is now the groundwork of life insurance. The Fire Marshal is doing much, but his labors are not so valuable as they would be, were the companies to publish a detailed report of the risks and losses of their respective business. A rough estimate may be made of the amount of property insured in New York City by assuming the amount of premiums on risks "up town" and "down town" as the total premium received for insurance in New York. This was stated in Mr. Birney's "Assessment Report for account of Fire Patrol," as follows:

Total... Decrease..

The value of steam tonnage on the Lakes has been $5,473,800, and of sail tonnage, $6,355,650. From this statement it will be seen that there is a great disproportion between the losses by steam and sail vessels; also, that the loss of life and property last year was much less than in 1860.

In ocean navigation, the past has been by no means a favorable year. The great loss of business growing out of the stoppage of the trade was followed by many disasters through the enemy's privateers, which however did not fall upon the insurers. The marine companies, however, were enabled to charge and obtain higher rates for war risks, which greatly improved their condition.

The premiums and losses of the New York City companies were as follows: Marine Insurances....

Fire Insurances...

Total.....

Premiems. $7,621,918 7,231,926

$14,808,539

Columbian.. Neptune Washington. Anchor Commercial.. Gt. Western. N. Y. Mutual] Orient Sun

1,494,160 00

1,856,426 00

4-454

1,094,265

The assumption here is necessarily wide of the truth, because the two districts do not embrace all the property insured in the city, and the supposed rate per cent. is quite as likely to be in error as is the valuation of the property. On the basis of these figures the amount paid for loss is to the total amount insured in the city as 2003836: 100.

The insurance on inland transportation has been increased in proportion to the extension of western commerce. The Lake losses in the past year were as follows:

On the results of the year the trustees of the Atlantic, after reserving two and a quarter million dollars and paying six per cent. interest on outstanding scrip, direct payment of the scrip of 1860, on 4th February, and declare a new scrip dividend of 30 per cent, on the ret earned premiums of 1861. This makes the total profits of the company for nineteen and half years, $12,940,210.

The premium includes $45,400 46 for fire risks, and the

losses $10,758 44, on same account.

+ Losses include "estimate of losses not adjusted." The Columbian statement is for fourteen montás" baseness, owing to alteration of closing period for frascal prar Pacific losses include estimate of claims ascertained bui sut due.

The Union, however, upon a less extent of business, declared a dividend of 31 per cent. on the net earnings for 1861; also a payment of six per cent. interest on old scrip, and after reserving one million dollars, directs a payment of 50 per cent. of the scrip of 1854, on 4th February. The Pacific pays 6 per cent. interest on outstanding scrip, and declares a new scrip dividend of 10 per cent. on the business of 1861.

The Mercantile has improved its business considerably, paying 6 per cent. interest on scrip, 4 per cent. dividend to stockholders, and declaring a new scrip dividend of 12 per cent. on the net earnings of 1861.

The Columbian has suffered the most severely in the year, and is obliged to recall the balance of the scrip issue of 1858. The company shows assets of $918,453 50, and paid 34 per ct. The Neptune has also been unfortunate, and has to recall $28,300 of the outstanding scrip. The assets of the company are $454,734 12.

The Washington is making a profit of $18,004 75, but is content with paying seven per cent. interest on outstanding scrip, and shows a clear asset of $251,283 59.

United States, but seems of late to meet with more encouragement from the public. In New York there are altogether 12 companies doing business, which have a very good standing. In Massachusetts, however, more strict attention is paid to the condition of the institution, and the annual report of the commissioners there is justly regarded with respect, where it confines itself to the legitimate objects for which it is created. Its reputation is, however, at times damaged by the introduction of irrelevant and objectionable matter. The law of Massachusetts requires that all companies that undertake to do business there, shall furnish such full returns as will, upon analysis, justify confidence in the safety of the company. These provisions are so rigid, that while many companies might object, the fact that a company does do business in Massachusetts acts as an indorsement to its standing.

As this return for 1861 embraces the leading companies, it gives an idea of the extent of the operations. (See table A on the following page.)

The following gives the computed aggregate operations for many years:

Whole Life Policies of Nineteen Life Insurance Companies doing business in Massachusetts, outstanding November 1, 1861, arranged according to the years in which they were issued, each year ending November 1.

YEAR.

1880... 1834..

1885.

1837 1888.

1840. 1843.

1845.

1846.

1847.

1848...

Cincinnati..

18

6129

749,808

8,318

14,000,000

22,807,117 26

728,897 42

8.20

Augusta, Ga..... Charleston.... New Orleans...

20,926,952 81 135,889 35 Totals..58,848 $144,253,449 43 $14,424,748 81 10.00

political and social ties, and the suspension of Notwithstanding the violent disruption of amicable relations between the two great sec

tions of the country, which characterized the year embraced in this report, the business of life insurance advanced, though not so rapidly as during the previous year. The aggregate amount insured by the nineteen companies doing business in Massachusetts was $152,937,587 on the 1st November, 1861, against $151,321,229 in 1860. Thus the new business has on the whole a little more than filled the chasm caused by the war, which at once swept away large num

Washington, N. Y.. Home, N. Y

Germania, N. Y...

Totals...

586

.59 19,500 00 .94 .90

9,000 00 .87

.58

5,000 00

.53

7,000 00 500 00

.34

.99 1.07 .14 .89 ($1,501,542 05. 99 .97 Collating the returns of the last and two previous years, we find the death terminations of policies in all the companies for the three years from November 1, 1858, to Nov. 1, 1861, to be 1,864, and the years of life exposed to death on all policies in force during those years, counting the policies of the deceased as having been in force half a year, to be 154,761.05. The tables I., II., and III. give the amounts of life exposed

$4.904.6-6 89 $5,828,118 09

and the deaths at all the different ages, arr gately, in classes, and by the years of the po tending to show the effect of selection, and the risk of short-term insurance compared with insurance on the whole life. It will be seen that, as far as this observation goes, it tends to show that in no part of the scale of life, unless it be on the earlier years, where the amount exposed is too small to warrant any conclusion, is the mortality to be expected quite as high as the of the standard adopted for the valuation. Th difference, indeed, is rather astonishing, such as can hardly be expected to be maint ed in the future as the grand average. There is room, however, for a great decline before reaching the line of English experience.

The proportion of deaths in New York is large as compared with foreign cities. The ty of London has a population of millions; it is surrounded by low lands, and the sle Thames, at times almost stagnant, receiving time discharge of its sewers and the filth of its streets, flows through it, and at times almost staates in its midst. Yet the vital statistics give Le proportion as 1 in 45.

The city of New York numbers about 1,000000, lying on the sandy ridge of Manhattar and; is fanned by the breezes of the ocean and has both sides washed by the swift currents the North and East rivers; yet its property a of deaths is as one to 36. Much of this may be and doubtless is, due to the large amount of immigration annually of poor and distressed persons, who crowd badly-ventilated dwel that are the centres of infection. The ori zation of wise sanitary measures, and their ecient enforcement, will no doubt do much te ards bringing down the proportion of deaths not only in this but in other cities of the Unsa within the operation of life companies.