NEW HAMPSHIRE. 



617 



digent insane, $6,000 ; support of convict in- 

 sane, $3,233.92 ; National Guard, $24,999.47 ; 

 bounty on wild animals, $11,684.77 ; Fish Com- 

 missioners, $2,283.78 ; State-House, $2,718.- 

 34; Board of Agriculture, $971.10; Industrial 

 School, $6,000 ; Board of Equalization, $622.- 

 40; Board of Health, $995.95; clerk-hire, 

 $1,270.83 ; Bank Commissioners, $4,493.06 ; 

 education of deaf and dumb, $4,123.87; educa- 

 tion of blind, $3,300 ; Normal School, $5,000 ; 

 publishing laws in newspapers, $2,985.80; in- 

 cidentals, $5,145.34. Extraordinary expenses 

 Agricultural College, $3,000 ; White Mount- 

 ain roads, $2,127.29; State Prison, balance of 

 current expenses, $1,232.46; historian, $1,042.- 

 20 ; indexing records, $1,200 ; Gen. Grant ob- 



sequies, $1,321.29 ; publication of military rec- 

 ords, $700; legislative resolves, $8,889.16; 

 Veterans' Association, $2,568.11 ; Gettysburg 

 Memorial Association, $1,000 ; State Arsenal, 

 $2,000 ; improvement of camp-ground, $882.- 

 41 ; refunded taxes, etc., $5,810.92. The $400,- 

 000 State tax is no longer a burden upon the 

 towns, as their credits on account of corpora- 

 tion taxes, more than pay the direct tax in a 

 large number of the towns. 



Board of Equalization. The report of the sec- 

 retary, for 1886, shows an increase of valuation 

 of property over the previous inventories of 

 $411,708, and an increase in savings-bank de- 

 posits of $3,572,059. Number of ratable polls, 

 valuation, amount of taxes, etc., by counties : 



Insurance. The Insurance Commissioner, in 

 his report to June, 1886, shows that all fire- 

 insurance companies of other States and coun- 

 tries, to the number of fifty-eight, withdrew 

 from doing business in this State Sept. 1, 1885, 

 and that much the larger share of the fire-in- 

 surance transactions of the year do not appear 

 in his report ; consequently, the statistics ap- 

 pear very meager. He says the New Hamp- 

 shire State and town mutual companies that 

 have heretofore reported have undergone no 

 material change ; that they have been sup- 

 plemented by four stock companies, with an 

 aggregate capital of $525,000, twelve State 

 and two town mutual companies, making five 

 stock companies in all, with a total capital of 

 $1,005,000, and fifteen State and nineteen town 

 mutual companies. The State and town com- 

 panies reporting were carrying risks in the 

 State, Dec. 31, 1885, as follows: Stock compa- 

 nies, $15,812,604; State mutuals, $8,380,893; 

 town mutuals, $2,261,312 ; total, $26,554,909. 

 The Legislature of 1885 passed what was known 

 as the "valued-policy" law, which brought 

 forth vigorous protests from the insurance 

 companies out of the State, followed by the 

 declaration that, "if the said bill became a 

 law, they would immediately withdraw from 

 the State." With slight amendments, the bill 

 passed both houses by more than a two-thirds 

 vote, and received the signature of the Govern- 

 or; and those companies thereupon ordered 



their agents to close business and forward bal- 

 ances to the home offices. The " valued-policy " 

 law simply provides that an insurance company 

 shall be liable, in cases of total loss, to the full 

 amount written in the policy ; that in partial 

 loss the company shall pay a sum equal in 

 amount to the damage done; that compacts 

 and combinations for the purpose of fixing 

 rates shall not be formed ; and that suits aris- 

 ing from disagreement shall be brought and 

 maintained only in the courts of New Hamp- 

 shire. The law appears to have been sus- 

 tained by a great preponderance of sentiment, 

 both of the people and the press. Upon the 

 withdrawal of these insurance companies the 

 people at once took steps to meet the emer- 

 gency, and a few months sufficed to develop 

 the formation of both stock and mutual com- 

 panies able to protect the interests of New 

 Hampshire. A large decrease in losses, and of 

 the amount expended for insurance, is already 

 very perceptible. The Commissioner warns the 

 people of the State against " outlaw " or irre- 

 sponsible companies, from without the State, 

 offering insurance. The last Legislature passed 

 " An act to facilitate the giving of bonds re- 

 quired by law." This permits any judge, head 

 of department, or other officer authorized^ 

 accept or approve a bond, to accept the policy 

 bond of a duly licensed company, when satis- 

 fied of its ability to respond, in lieu of personal 

 security. In 1885 there were burned in the 



