CONNECTICUT. 



241 



The sum of $383,402 was paid last year as 

 interest on State bonds. 



The total value of taxable property in Con- 

 necticut, which on the 31st of March. 1872, 

 was less than $340,000,000, advanced in the 

 twelve following months above $9,000,000, it 

 being set down for the same date in 1873 at 

 $348,855,457. Nearly $6,000,000 of this in- 

 crease represents the vnlue of new buildings in 

 the mean time erected, or of improvements 

 made in old ones. 



The public-school fund continues to be in a 

 prosperous condition. The total amount of 

 this fund on September 2, 1872, -was $2,044,- 

 190.81, secured by contracts, bonds, and mort- 

 gages, mostly in Connecticut, or otherwise in- 

 vested, as follows : 



To individuals in the State $1,415,609 66 



To individuals in New York SS9.ti0 S6 



To individuals In Massachusetts 28,760 71 



To individuals In Ohio 9,180 46 



Amount of bank mock 804.812 61 



Connecticut State bonds 130,000 00 



Cash in Treasury 26,166 51 



Total $2,044,190 81 



In accordance with a law passed last year, 

 all debtors residing in other States have been 

 required to pay up in full. All new loans made 

 from tliis fund since August 31, 1872, bear in- 

 U-iv-t at seven per cent, per annum. 



The receipts of the fund during the year 

 ending April 1, 1873, were, of revenue, $191,- 

 986.96, including cash on hand April 1, 1872. 



The savings-banks in operation within the 

 State, at the beginning of 1873, numbered 78, 

 the total of their respective assets being $71,- 

 271,395.10, and of their deposits, $68,523,- 

 397.88. Nearly $22,000,000 were deposited, 

 and a little over $16,000,000 withdrawn, in the 

 course of 1872. 



During the last year these banks raised 

 their usual rate of interest on loans to seven 

 and a half and eight per cent. ; in some cases 

 much higher. As the object of their estab- 

 lishment is trust and security, rather than 

 speculation for profit, the Governor urges the 

 I. L'islatnre to keep a watchful eye on the af- 

 fairs of these institutions, nnd adopt measures 

 calculated to hinder the continuance and pre- 

 vent a repetition of such practices. 



He further recommends, as his predecessor 

 did to the preceding Legislature, that such 

 portion of the deposits in the savings-banks as 

 is loaned on real estate should, in justice, be 

 declared exempt from taxation, which, in such 

 cases, is in reality a double tax laid on the 

 borrowers' property, and paid by them. 



There are in Connecticut eight chartered 

 trust companies, and three organized under the 

 joint-stork laws; their capital being, in the 

 aggregate, $2,263,890, and the deposits held 

 by them, $2,809,406.19. The amount loaned 

 by them on mortgage security is $762,175, and 

 in bills of discount and demand loans, $3,861,- 

 656.!)::. 



There are four State banks of discount, hav- 

 ing, together, a capital of $1,450,000. 



VOL. XIII 15 A 



The operations of life, fire, and marine in- 

 surance companies in Connecticut represent 

 exceedingly large sums of money. The re- 

 cent report of the Commissioner of Insurance, 

 for the year 1872, fills up two volumes, the 

 first being devoted to fire and marine, the 

 second to life and accident insurance. The 

 condition of life and accident insurance com- 

 panies of other States doing business in Con- 

 necticut, the amount of premium notes held 

 by them on December 31, 1872, and the 

 amount of business transacted that year in 

 Connecticut by outside and home companies, 

 respectively, were briefly as follows : " The 

 net decrease of new business of 1872 was $1,- 

 413,153, against a net decrease the year pre- 

 vious of $32,638,266. The amount of insur- 

 ance terminated during the year was $246,- 

 323,857, against $300,522,174 the year before. 

 The amount of premium notes held December 

 81, 1872, by nineteen companies of other 

 States, was $15,708,164.94, against $14,881,- 

 171.21 held at the close of 1871. Thirteen 

 companies show an increase of $1,076,328.26, 

 while six companies show a decrease of $249,- 

 834.53 ; leaving a net increase of $826,993.73, 

 against a net increase of $258,768.18 in 1871. 

 The ratio of premium-notes to gross assets of 

 the several companies ranges from .08 to 53.07 ; 

 average ratio, 18.17. Ratio of notes to aggre- 

 gate assets, 9.09. The net increase in the 

 amount of notes held by twenty-five compa- 

 nies was $707,145.59. The aggregate amount 

 of notes received during the year was $5,721,- 

 241.29, against $8,069.391.47 received in 1871 ; 

 a decrease of $2,848,150.18. Only six com- 

 panies show an excess of notes taken in 1872 

 as compared with 1871, aggregating $253,257, 

 while three of the remaining nineteen report 

 none taken the past year. 



" Connecticut companies issued 2,686 poli- 

 cies, insuring $4,608,323, and received in new 

 nnd renewal premiums $1,466,147.99, and paid 

 for losses $352,676. The whole number of 

 policies in home companies on lives of Con- 

 necticut citizens was 15, 747, covering $81,268,- 

 184 of insurance. The ratio of loss during 

 the year to the mean amount at risk was 1.13. 

 The whole number of policies issued by the 

 twenty-three companies of other States was 

 1,567, covering $8,326,111 of insurance. The 

 whole amount received during the year for 

 new and renewal premiums was $699,801.44. 

 Paid for losses, $278,541. The whole number 

 of policies reported in force by these compa- 

 nies was 9,336, insuring $21,082,884. The ratio 

 of loss to the mean amount at risk was l.SO. 

 The aggregate of business in the State, of all 

 the companies represented in this report, wns 

 4,253 policies, insuring $7,834,434. The whole 

 number of policies in force, 25,113; whole 

 amount insured thereby, $52,801,068. "Whole 

 amount of premiums collected, $2,165,949.43. 

 Whole amount of losses paid during the year, 

 $626,217; ratio of aggregate loss to mean 

 amount at risk, 1.20." 



