440 



IXSUKAHCE. 



The unusually heavy losses of the last half 

 year, have brought the total beyond the average 

 of the previous ten years. This is due in great 

 part to the disastrous fires in cotton and on 

 cotton lad^n vessels at New York and else- 

 where ; the case of the Harry of the West alone 

 involving loss to near $1,000,000. Disasters of 

 that nature have directed attention to the origin 

 of these fires, and the measures necessary to 

 prevent spontaneous combustion. 



During the year 1865 disasters have been 

 reported at New York to 1,490 vessels of all 

 classes. Of these about 500 were total losses. 

 The latter part of the year has been particu- 

 larly noted for the value of the vessels lost. A 

 large number of steamers, principally engaged 



in the coasting business, have materially in- 

 creased the list. 



In reference to general losses at sea, more 

 care in selecting masters and mates, and a more 

 thorough system of inspection of vessels seem 

 to be desirable. For the preservation of life, 

 an impetus has been given to new inventions, 

 and a life-saving raft, composed of gutta percha 

 cylinders cased in canvas, and capable of in- 

 flation at pleasure, has met with considerable 

 favor among nautical men. It has been found 

 that ordinary boats are too frequently stove at 

 a critical moment, or do not live in a heavy 

 sea. They are also difficult of landing in a 

 heavy surf. Most of these objections appear 

 successfully met by the raft alluded to. 



ABSTRACT RETURNS OF LIFE INSURANCE COMPANIES OF THE STATE OF NEW YOKE FOR THE 



YEAR ENDING DECEMBER 81, 1865. 



The Insurance Business in Massachusetts. 

 The eleventh annual report of the Insurance 

 Commissioners of Massachusetts for the year- 

 1865 gives the number of companies in that 

 State as 102, with 79 chartered elsewhere. Of 

 the home companies, 83 have specific cash 

 capitals, 12 are partly mutual, and 57 purely 

 mutual. Three of the stock companies, the 

 Bunker Hill, Conway, and Old Colony, closed 

 up their business during the year, having rein- 

 sured their risks. Five mutual companies, the 

 Charlestown Mutual, Haverhill Mutual, People's 

 Equitable, of Taunton, Plymouth County Mu- 

 tual, of Plymouth, and State Mutual, of Boston, 

 are winding up their affairs. 



In 1865 the home fire companies insured 



property to the amount of $436,362,390, on 

 which the loss was $1,770,12, or 4.06 per cent. 

 In 1864 the amount insured was $452,226,994; 

 loss $1,779,458, or 3.93 per cent. 



The total fire and marine risks outstanding in 

 1865 were $510,999,339, the marine risks being 

 $74,636,949, or between four and five million 

 less than in 1864. 



The foreign insurance companies have insured 

 in Massachusetts in 1865, property both fire and 

 marine, of the value of $277,220,871, and have 

 collected premiums to the value of $4,047,101, 

 and paid a State tax of $81,927. This sh<>\\ > 

 an enormous increase of business over 1864, 

 the amount then insured being $173,703,364, 

 and the premiums $2,584,629. 



