Connecticut as a Colony and as a State; Or, One of the Original Thirteen Volume 4

Connecticut as a Colony and as a State; Or, One of the Original Thirteen Volume 4

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...co-operative life associations always base their premiums on the deaths among the young, and consequently die as the members begin to age. Of the forty mutual fire companies that the State has seen, all established on the principle that the profits be divided, in various ways, among the insured, generally so as to reduce premiums, only eleven now exist. Some of them have their individual peculiarities, as the Hartford County Mutual Fire, which was once limited to buildings in the county and outside the city of Hartford. This restriction, modified to include the city in 1853, was of much value to policy-holders when the famous fires made the large companies tremble to their foundations. It began with small things; for twelve dollars expressed the losses and twelve dollars the surplus, of the first year. Some skeptical persons failed to see anything but a joke in the latest wrinkle in the insurance craze, when in 1866 the Hartford Steam Boiler Company was chartered; but experience has proved it to be not only novel but excellent. Originating in the researches of a group of bright young men in Hartford, who were attracted by an account of the inspections made by the Manchester Steam-Users' Association in England, it wisely practiced economy in office expenditure until established business warranted luxury. To the ability and tact of the president, the late Jeremiah M. Allen, the success of the novel enterprise is greatly owing. He used the "ounce of prevention" plan so sagely that more money is spent every year in inspecting boilers than in paying indemnity for ruined ones. The boiler that fails to come up to the standard cannot be insured; hence a great saving of life and limb over the old hap-hazard way of thinking that steam-boilers were a...show more

Product details

  • Paperback | 112 pages
  • 189 x 246 x 6mm | 213g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236674073
  • 9781236674074