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JOURNAL OF INSURANCE.
CONNECTICUT INSURANCE LAW.
AN ACT IN ADDITION TO “ AN ACT CONCERNING FOREIGN INSURACE COMPANIES."
Section 1. Be it enacted by the Senate and House of Representatives in General Assembly convened, Every person who shall act as agent, in any city or town in this State where a fire department exists, for or on behalf of any corporation organized under the laws of the State of New York, to effect insurance in this State against loss or injury by fire, shall, in the month of January in each and every year, render an account, verified under oath to be a just, true, and complete account, to the treasurer of the city in which such agent shall act as aforesaid, or, in case such agent shall so act without the limits of any city, to the treasurer of the town in which such agent shall so act, of all the premiums which, during the year ending on the next preceding 31st day of December, shall have been received by such agent or person, or by any other person for him, or shall have been agreed to be paid, for any insurance against loss or injury by fire in this State, effected or agreed to be effected by him as such agent; and such agent shall, in the month of January in each and every year, pay to the treasurer to whom the said account is hereby required to be rendered, the sum of two dollars on the hundred dollars, and at that rate upon the amount of all premiums received by him, or by any other person for him, or agreed to be paid, for any in. surance effected or agreed to be effected by him as such agent as aforesaid. And all sums paid to said treasurers under the provision of this act shall be applied, under the direction of the common council of the city, or the selectmen of the town, (as the case may be,) to defray the expenses of the fire department in such city or town.
Sec. 2. No person shall act as agent for or on behalf of any corporation organized under the laws of the State of New York, to effect insurances in this State, as aforesaid, until he shall have executed and delivered to the treasurer, to whom, by the provisions of the preceding section of this act, said account is to be rendered and said sum paid, a bond in the penal sum of five hundred dollars, with such sureties as said treasurer shall approve, with a condition that he will comply with the provisions of this act; and every person who shall effect, agree to effect, promise, or procure any insurance specified in the preceding section of this act, from and after the first day of August next, without having executed and delivered the bond hereby required, shall forfeit and pay the sum of two hundred dollars for each offence, to be sued for and collected by said treasurer in his own name, in an action on this statute; and such penalty when collected shall be applied to the same purposes, and in the manner therein provided, as the sum required to be paid by said agent in the preceding section of this act.
Sec. 3. Every person who shall act as agent for or on behalf of any corporation organized under the laws of the State of Rhode Island, to effect insurances in this State, shall, on the first Monday in October in each year, during the continuance of his agency, make a return to the Controller of Public Accounts, verified under oath to be a just, true, and complete account of the amount insured by him as such agent in this State, and of the amount of premiums and assessments received by him as such agent during the year next preceding said first Monday in October ; and shall, at the same time, pay to the Treasurer of the State, for the use of the State, a tax of 2 per cent on the gross amount of said premiums and assessments. And if any such agent shall neglect to make such returns and payments as are hereby required in this section, he shall forteit to the State, for the use of the State, five hundred dollars, to be recovered in the name of the treasurer by action on this statute.
Sec. 4. If any person acting as agent, as designated in the first or third sections of this act, shall neglect or refuse to comply with any of the provisions of this act, the treasurer, to whom said account is to be rendered and said sum paid by the provisions of this act, may apply to any judge of the Superior Court to enjoin such person against effecting insurances as such agent ; and it shall be the duty of the judge to whom such application is made, upon finding that such agent has neglected or refused to comply with the provisions of this act, to grant said injunction, and said judge, or, in case of bis inability to act, any other judge of the Superior Court, may dissolve said injunction, whenever said agent shall comply with the provisions of this act. The fact of such agency shall be deemed to be sufficiently proved in any case that may arise under the provisions of this act, by any person having acted as such agent, or held himself out or advertised as such agent.
Sec. 5. The tax hereby imposed upon such agent shall be in lieu of all other taxes now required to be paid by them as such agents; and all acts and parts of acts, so far as they are inconsistent herewith, are, to that extent, repealed.
Approved, June 23d, 1860.
FIRE INSURANCE DIVIDENDS.
The aggregate dividends of eighteen fire insurance companies for the month of August amounted to $226,000, or about seven per cent on the total capital of $3,260,000 ; or over eight per cent upon the capital declared upon. For September, the dividends are nearly nine per cent on the average.
DIVIDENDS IN AUGUST, 1860.
Rate Amount 1859. 1859. Sept., 1860. Capital. per ct. dividend. Astor ......
$68,000 $63,000 124 a 128 $150,000 8 $12,000 Beekman 49,000 58,000 85
200,000 5 10,000 Broadway.
58,000 54,000 120 a 127 200,000 8 16,000 City.
210,000 10 21,000 Exchange 65,000 61,000 100 a 103 150,000
46,000 49,000 110 & 115 200,000 10,000 Indemnity. 44,000 43,000 80
150,000 5 7,500 Irving....
97,000 104,000 100 a 105 200,000 5 10,000 Lenox 44,000 50,000
88,000 88,000 1024 a 106 200,000 194 39,000 N. Y. Fire & Marine 80,000 94,000 135 a ... 200,000 10 20,000 Niagara...
95,000 105,000 135 a 145 200,00G 10 20,000 Peter Cooper... 37,000 32,000 97 a 102
150,000 6 9,000 Rutgers.
77,000 73,000 115 a 120 200,000 7 14,000 Security 130,000 128,000 106 a 112 200,000
9,000 St. Mark's...
56,000 61,000 a 104 150,000 5 7,500 St. Nicholas 57,000 58,000
65,000 48,000 105 a 110 200,000 12,000
* The dividend of the Lorillard was a surplus dividend of 194 per cent, being the total accumula. tions; that of the Security was in addition to a scrip dividend of 27 per cent.
MINOT'S LEDGE, ENTRANCE TO BOSTON BAY. Information has been received at this office, from Capt. B. S ALEXANDER, Corps of Engineers, of the completion of the lighthouse on the outer Minot's Ledge, one of the Cobasset Rocks. The tower is of a dark gray granite, 30 feet in diameter at the base, 89 feet 7 inches high above mean low water. It is surmounted by a bronze lantern 22 feet 7 inches high, making the total heigbt of the structure above mean low water 112 feet 2 inches. The illuminating apparatus is catadioptric of the second order of the system of Fresnel, and will show a fixed white light. The focal plane is 84 feet above the mean bigh water, and the light should be visible at high water, from a point 15 feet above the surface of the sea, at a distance of 15 nautical miles. The light will be exhibited for the first time from sunset to suprise on the 15th day of November, 1860, and every night thereafter. By authority of the act of Congress approved September 28, 1850, the light at Scituate will be extinguished on the exhibition of the Minot's Ledge light, and the light-vessel now stationed off Minot's Ledge will be withdrawn and discontinued at the same time. The new light bears from Boston lighthouse E. S. E. I S., distant about 9 miles. It is in latitude 42° 16' 9" north; longitude 70° 45' 14" east from Greenwich. By order of the Lighthouse Board,
WM. F. SMITH, Engineer, Secretary. WASHINGTON, August 23, 1860.
THE ANVIL ROCK, CAPE POINT. The following important hydrographical notice by Lieutenant Skead, the Admiralty Surveyor, appeared in the Cape of Good Hope Government Gazette, of the 20th April. Addressing Admiral Grey, he says :
I have fixed two shoal rocky patches (which break in rough weather) in the vicinity of the Anvil Rock, the positions of which are as follows :-North Patch, Bellows Rock, S. 48°, W. 1' 7.10; Cape Point light, N. 54°, W.145.10; West Patch Bellows, S. 59°, W.1' 6.10; Cape Point light, N. 48°, W. 1', 8.10. These patches, with the Anvil Rock, together cover an area of 67 acres. The known existence of these rocky patches renders caution more than ever neces. sary to vessels passing between Cape Point and the Anvil, as they have only l' 1.10 mile between them and the Dias Rock. Coming from the westward outside the Anvil Rocks, a ship will be clear of them to the eastward, when Vasco de Gama Peak (Pt. (.) a peak one mile N. W. by W. from the Cape Point light, opens to the eastward of the peak on which the light-tower stands.
DISCONTINUANCE OF A LIGHTHOUSE. The third section of the act of Congress, approved March 3, 1859, making appropriations " for lighthouses, lightboats, &c., authorized the Secretary of the Treasury, in his discretion, on the recommendation of the Lighthouse Board, to discontinue, from time to time, such lights as might become useless by reason of the mutations of commerce and changes of channels of harbors, and other causes ; and the Lighthouse Board, at its meeting held on the 2d instant, having ordered the following named light to be discontinued, viz., the beacon light at Set-OffPoint, Newark Bay, it is ordered and directed that said light be discontinued on and after the 1st day of August next. By order,
R. SEMMES, Secretary. WASHINGTON, July 7, 1860.
For the six months of the present year just closed, the following are the statistics of losses carefully prepared by the editor of the Louisville Journal:Steamboats sunk and damaged by fire....
5 Steamboats snagged and sunk.
47 Steamboats run into bank...
6 Steamboat collisions... Steamboats burned..
20 Steamboats suok on falls.. Steamboats sunk by storms.
20 Steamboat explosions... Machinery broken..
10 Collision with bridges..
RATES OF STORAGE AND LABOR. UNITED STATES PRIVATE BONDED WAREHOUSES, RATES OF STOR AGE AND LABOR CHARGE: ABLE ON UNCLAIMED GOODS. APPROVED BY THE CHAMBER OF COMMERCE.
Store. Labor. Store. Labor. Absintbe.....
..cents See cordials. Ale or porter, in hhds..
20 20 Ale, (bottles,) in bbls...
8 Ale, (bottles,) in casks
15 15 to 20 20 Alcohol, in puncheons.
30 80 40 40 Anvils, loose .....
4 Anvils, in casks..
30 30 40 40 Antimony, in casks...
20 20 30
30 Almonds, in frails......
4 4 6 Almonds, in bales..
10 10 20 20 Almonds, in casks.
10 10 15 15 Almonds, in bags... .
4 Argols, in casks..
30 Arrowroot, in kegs, Ber...
8 8 Balsam capivi, in tin cans...
6 6 Balsam capivi, in bbls
15 15 25
25 Balsam capivi, in hhds...
30 30 40 40 Bark, (Peruvian,) in bags.
4 Bark, (Peruvian,) in ceroons.
5 5 10
iö Beads, (Trieste,) in cases..
10 10 20 20 Beer, in bbls.......
10 10 Beer, in hhds.
20 20 Beeswax, in bales...
10 10 20 20 Blankets, in bales...
30 Blankets, in trusses, two bales each
30 30 40 40 Boots and shoes, in cases..
10 10 15
15 Bottles, in hampers.
25 25 Bottles, in crates...
20 25 Borax, in casks.
10 10 20
20 Borax, in cases.
5 Brandy, in pipes..
35 35 Brandy, in hf. pipes
25 25 Brandy, in qr. casks
12 Brandy, in eighth casks..
61 67 Burlaps, in bales...
30 30 50 50 Butter, in kegs.
3 3 5 Cassia, in mats, (for 100 mats)
25 25 Cassia, in chests
8 Cassia, in rolls or bales
8 10 10 Camphor, in cases..
5 8 8 Capers, in boxes
3 3 Carboys, (vitriol, &c.)..
20 20 50 50 Canvas, in bolts....
S Cantharides, in cases.
10 10 20 20 Candles, in boxes..
2 2 6
6 Cham, flowers, in bales
10 10 20 20 Carpets, in rolls, (single)...
8 8 10 10 Carpets, in cases, (single)
25 25 30 30 Carpets, in bales...
30 30 40 40 Cheese, in bxs., (Dutch)..
8 8 10 10 Cheese, in casks
15 15 25 25 Chicory, in casks..
15 20 20 Champagne, in baskets.
3 3 Champagne, in cases.
3 3 Chocolate, in casks
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