USA > Connecticut > Connecticut yesterday and today : 1635-1935 : celebrating three hundred years of progress in the Constitution state > Part 9
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First Home of HARTFORD COUNTY MUTUAL FIRE INSUR- ANCE CO. From the windows of the Company's first office the officers of the Company looked out directly upon Meetinghouse Yard, the first piece of land to be marked out by the Constitution makers. The com. pany's office was in the Exchange Building, as shown in the illustration, in the southwest corner of Main and Asylum Streets. The above illus- tration was taken about 1831.
THE HARTFORD COUNTY MUTUAL FIRE INSURANCE COMPANY.
₣ THE Citizens of Hartford Connty, who may wish to have their Buildings insured against destruc- tion by, Fire, are hereby notified, that the first meeting under the charter. will be holden at the State House, in the City of Hartford, on Monday, the 10th day of September, 1831, at 2 o'clock, afternoon, to appoint the requisite Officera, and piss such By-laws as may be necessary for the successful operation of the Com- pany. All persons who desire to bocome members Thereof, are most respectfully invited to attend. DAVID GRANT. ELISHA PHELPS.
7.5
August 20.
The above notice appeared on September 6, 1831, in both the Hartford Courant and the Hart ford Times. The interested citizens of the county who met at the Statehouse on the afternoon of September 10, 1831, were representa- tive of the rural communities and of the descendants of the founders of the colony. They proceeded promptly to business and elected the first board of directors, whose names are listed below. President Grant was a lineal descendant from Mathew Grant of Windsor, progenitor of a long line of distinguished men by that name, including President Ulysses S. Grant. Mathew was born in England in 1601, and had come with the Dorchester ( Massachusetts ) party in 1635 to found Windsor.
From the windows of the first office, and for that matter, of the three other offices the company has occupied in the more than a century of its existence, the officers looked out directly upon adjacent land which the world over is -1761
considered sacred in world history. For it is the birthplace of the first constitution framed by men for the govern- ment of men recognizing no superior but the Almighty; also, from these windows, the officers looked out directly upon Meetinghouse Yard, the first piece of land to be marked out by the original settlers.
The Company's present office is ideally located, in the beautiful and commanding building at 750 Main Street shown on the opposite page, within a stone's throw of the original offices and giving from its upper windows an extensive view of the historic Connecticut River valley. Charles W. Burpee, noted historian, has written the com- plete story of this famous company's early struggles and later achievements with mention of the changing times and conditions locally and nationally during the first century (1831-1931) of the company's existence. This history called "A Century in Hartford," may be found at the library and will well repay a careful reading, by any who are interested in the historic background of Hartford and its institutions.
THE FIRST BOARD OF DIRECTORS David Grant President Elisha Phelps* Secretary-Treasurer Charles Woodward James Loomis Jednthun Bumstead David W. Grant Jasper Morgan Joab Hubbard Joel Holcomb Henry Phelps $In less than a month Mr. Phelps resigned and was succeeded by Charles Shepard
PRESENT BOARD OF DIRECTORS
George 11. Burt President . Frederick F. Small Vice-President Morgan B. Brainard John II. Buck W. R. C. Corson Robert W. Dwyer Joseph R. Ensign Ilenry W. Erving James lee Loomis Christian Rebman Secretary
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The Present Beautiful Home of MIDDLESEX MUTU.IL. ASSURANCE COMPANY at the Corner of Court and Broad Streets, Middletown
HE MIDDLESEX MU-
TUAL ASSURANCE COMPANY, organized in 1836, started business in the back room of a jewelry store conducted by John L. Smith, where its office was maintained for seventeen years. In 1853, larger quarters were rented in the basement of the Univer- salist Church.
In 1866, what is now known as the Middlesex Building located on Main Street was built by the company and occupied by the company and the First National Bank. Additions were made in 1891 to accommodate the Southern New England Telephone Company.
The same year saw the building of the Middlesex Theatre, which was one of the largest and finest in New Eng- land, drawing to it a great many of the famous players of the country at the time.
The business and resources of the company steadily increased, and with changing conditions, an office on Main Street was no longer required.
The colonial home occupied by Wil- liam B. Brewer was bought in 1926, taken down, and the present beautiful home office erected on its site at the cor- ner of Court and Broad Streets.
ORIGINAL BOARD OF DIRECTORS
Giles Blaque Joshua L'Hommedieu
Ely A. Elliott Joseph Goodspeed
Daniel Russell Richard Hubbard
Lemuel Camp Charles Woodward Eli Warner William S. Camp
Samuel Cooper
Stillman K. Wightman
Isaac Sage
William D. Starr
John L. Smith
George N. Miller
Luther Bowers
Launcelot C. Bradley
ORIGINAL OFFICERS
Richard Hubbard, President John L. Smith, Sec'y and Treas.
PRESENT BOARD OF DIRECTORS
Henry S. Birdseye James K. Guy
Clement H. Brigham Seymour R. Peck
William S. Chappell John S. Pullman
Charles T. Davis T. Macdonough Russell
N. Evan Davis Frank 'T. Staples
Frederick B. Fountain
Frank B. Weeks
PRESENT OFFICERS
N. Evan Davis, Pres. and Treas.
Frank T. Staples, Vice-President 1). William Camp, Secretary Daniel W. Chase, .Assistant Secretary
Sammel Babcock, .Assistant Secretary
The building itself is worthy of note. The architecture of the New England Colony of the eighteenth century is ex- pressed by both the exterior and interior of the building. With few exceptions, the materials were taken from New Eng- land so that on the whole it expresses the proper traditional environment of a com- pany dating back almost to Colonial times.
There is preserved in the home office building an old hand-drawn, hand- pumper fire apparatus used in Middle- town 75 years ago; old style firemen's helmets; water pails made of leather, which were used by the famous bucket brigades of years gone by; and other items of equipment, which, in the carly days of this company, were considered to be the last word in modern fire-fighting apparatus. Policy No. 6, written on June 29, 1836, by this company, is framed, and on display. Policy No. 234719 today covers the same property. There is an old illustrated map of Mid- dletown in 1851 on exhibition, showing the locations of many old family resi- dences. In our directors room is the much talked of mural by Northam H. Gould, depicting old and present day Middletown, a reproduction of which will be found on the opposite page.
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Norteich in 1840 schen the Next London County Mutual Fire Insurance Company ccas founded
HE New London County Mutual Fire Insurance Com- pany was incorporated at the biennial session of the Con- necticut legislature opening in January, 1840. The resolution of the legislature is as follows:
Resolved by this Assembly:
SECTION 1. That Joseph Backus, Henry B. Norton, William P. Eaton, Newcomb Kinney, and Frederick Prentice, with such other persons as may become mem- bers or associates with them as hereinafter provided, and their successors, are here- by constituted a corporation, by the name of the New London County Mutual Fire Insurance Company, for the purpose of insuring against loss by fire, whether the same shall happen by accident, lightning or any other means, except by design or fraud of the assured, or by invasion of a public enemy, or by insurrection ; and that by that name shall have the power to hold, purchase, receive, possess and enjoy lands, rents, tenements, heredita- ments, goods, chattels, and effects of every kind, and the same to sell and convey; to sue and be sued, plead and be impleaded, defend and be defended in all courts; to have and use a common seal and the same to change at pleasure; to make and execute such by-laws and
regulations, not inconsistent with this charter or the laws of this state or of the United States, as shall be deemed proper for the government of said Company.
The members of the company met and were organized on the first day of July, 1840.
One of the early by-laws was that all policies of insurance expire on the first Monday in January each year. This may have been in accord with the custom of the Mutual Assurance Company of the City of Norwich, which had then been in business for forty-six years. The Mutual Assurance Company retains the custom to the present day. In February, 1842, the by-laws of the New London County Mutual Fire Insurance Company Were amended, allowing policies to be written for any term of not over three years; and at a later date, to conform with the customs of the business in gen- cral, to a maximum term of five years.
In August, 1840, it was voted by the directors that the office of the company should be at the office of John DeWitt (its first secretary) in Norwich. By com- mon understanding its office has always remained in Norwich, the present home office building at 59-61 having been purchased by it in 1913 and developed for handling it business in the most
modern and efficient manner.
The first policy contract isted, adopted on August 4th, 1840, was a model in- strument, and as in the early days the State did not attempt to control the form of policy and each company doing busi- ness in Connecticut did so on its own contract, the original policy-contract of the company held, with minor amend- ments, for fifty-three years. In 1893 there was introduced into the General Statutes of Connecticut by act of legis- lature a specified standard form of policy to which all companies doing business in the state must conform. Though this prescribed form of fire insurance contract has now been extant in Connecticut for forty-two years, it is a peculiar fact that even to-day frequently an asured will take his company to task for clauses in the agreement which he infers may have , been written into the instrument arbi- trarily by his own individual company, and with malice aforethought to his dis- advantage. This is particularly truc in some cases following los. The companies are not responsible; 'tis the law of the state, and even the size of type to be used in printing is specified (!)
The first recorded loss registers a quaint note on the minutes: "Voted, That the Secretary cause the House of George Kelly to be painted at the end and the
NEW LONDON COUNTY MUTUAL FIRE INSURANCE COMPANY 1840 - 1835
Voted that the Secretary Cause the House of Surge Kelley to be painted at the end time injury curtain by the late Fine on Said House repaired ._
Noted that John S. Huntington and John Dehvitt be directed to settle with Joshua W Shephard for ingoing to his furniture by the late fee.
Noted that whereas Thos, E. Graves has mado a claim on the office for lofo by fine one has few niture on the I day of april Cash therefore ~ Notice that the settlement of the same be mefor to Camp Eaton" FEnoch C Chapman with full power to Little the same
A part of a page from the original record book of the New London County Mutual Fire Insurance Company
injury sustained by the late fire on said House repaired." The growth of the company in the early years was that of any new organization of the nature, necessarily conservative. The first con- crete tabulation of premium income and loss outgo appears in 1842, when the loses paid were $1,028.24 (premiums $2,011.42). Ten years later the losses paid were $4,768.82 (premiums $4,- 468.66). In 1934 more than four hun- dred losses were paid, covering every township in Connecticut and amounting to $93,624.92 (premiums $200,511.14).
By-law 2 of the original rules stated the purpose for which the company was organized: the insurance of dwelling
houses primarily, though furniture, barns, and out-buildings were also mentioned, as well as libraries and other public build- ings. As a matter of fact, however, in common with all of the New England mutual companies, the main subjects of insurance were private dwelling houses and their contents. This soon took them by necessity into the rural districts, and at the present time this class of companies is the insurer of practically all farm property in New England, and to a very large measure in the entire country. Ap- parently the scope of operation was not sufficient, for in May, 1841, it was voted by the directors that "hereafter this office will extend their risques to stores and
PAST PRESIDENT'S
JOSEPH BACKUS 1840-1844
Jor. W. WinTi. 1844-1848 JONATHAN G. HUNTINGTON 1848-1859
EMJA A. BIL.I. 1859-1868
EBENEZER F. PARKER 1868-1895
CHARLES J.' WINTERS
1895-1903
HION. HENRY H. GALLUP 1903-1929
PRESENT OFFICERS
EDWIN A. TRACY, President
WALTER F. LESTER, Secretary
ARTHUR L. PEALE, Treasurer
Directors
Henry L. Bailey, Groton
Arthur M. Brown, Norwich Charles F. Chandler, Stafford S. Alpheus Gilbert, Norwich James K. Guy, Middletown Roy D. Judd, Norwich Walter F. Lester, Norwich Charles R. Marvin, Deep River Shepard B. Palmer, Norwich Frank A. Stevens, Meriden Edwin A. Tracy, Norwich Otto E. Wulf, Norwich
merchandise". It is doubtful if, without this added latitude, the company could have gained a broad business. The pre- miums soon began to increase, and in 1860 the total for the year was $5,745- .08. Growth was slow during the period influenced by the Civil War, and in 1886, about twenty years after the close of the war, the premiums amounted to but $7,072.71. Succeeding this, expansion was more rapid, and in 1900 premium income was $29,981.04. Since then the figures are as follows: 1905, $51,882.97; 1910, $65,807.29; 1915, $112,348.00; 1920, $190,468.58; 1925, $218,876.52; 1930, $243,524.55; 1934, $200,511.14. Since its organization the combined pre- mium income has been $4,833,656.93, and the entire loss payment $2,946,021- .04. The recent rapid growth of the company is evidenced by the fact that more than one-half of the figures of the premium just quoted have been received in the past twenty years; and in the same period a similar portion of the total losses have been paid. The premium in- come of a week today is nearly equiva- lent to that for a year fifty years ago.
The present personnel of agents numbers seventy-five covering every city, town, and hamlet in Connecticut. Forty- one of these have represented the com- pany twenty-five years or more. The company is entered only in Connecticut, and does no business outside of its home state.
A total of about 395,000 policies have been issued to this date.
In the year 1934 a total income of $229,360.57 was received, and the last annual statement on December 31, 1934, shows gross assets of $679,047.35. All liabilities amounted to $221, 302.78, this figure being made up of an item of $5,721.55 covering unpaid current losses in proces of adjustment, a reserve for taxes of $2,550.00, and an unearned pre- mium reserve of $213,031.23; this is the reserve held by State law to protect risks in force. In the aggregate the company carries risks in Connecticut amounting to about fifty-five million dollars.
In a recent quinquennial examination report appears the following statement by the Insurance Commissioner: "In gen- eral I find that the New London County Mutual Fire Insurance Company is in very good financial condition; its loss settlements are made promptly and with fairness to the insured; its business is carried on efficiently; and its underwrit- ing policy is conservative."
SECURITY INSURANCE COMPANY OF NEW HAVEN
HE Security Insurance Company of New Haven was chartered in May, 1841, while John Tyler of "Tippecanoe and Tyler too" fame was President of the United States, and actually started business under the administration of Roger S. Baldwin of New Haven as Governor of Con- necticut. The original name of this early insurance organ- ization was Mutual Security Insurance Company as indicated by the resolution following :
"At a General Assembly of the State of Connecticut, holden at Hartford, in said State, on the first Wednesday of May, in the year of our Lord, one thousand eight hundred and forty-one; upon the petition of Jehiel Forbes and others, praying for the incorporation of an Insurance Company at New Haven,
RESOLVED BY TIMIS ASSEMBLY, That Jehiel Forbes, Theron Towner, Richard M. Clark, Smith Tuttle, Nathan Peck, Jun., and their associates, and all others who may associate with them hereafter, in the manner herein pro- vided, and their successors and assigns, be, and they hereby are created and made a body politic and corporate by the name of the "Mutual Security Insurance Company."
The Company was organized as a Stock Company and its capital was to be not less than $100,000 nor more than $300,000. On May 11th, 1842, books for subscriptions to the capital stock were opened in the Mechanics Bank. The Commissioners met with very little success in raising the needed capital. The following resolution passed by them on June 10, 1842, clearly pictures the situation :
"That the check received from Orrin Sage of Blandford,
Mass., for the first installment on his subscription, be re- [82]>
turned to such Sage, and that he have liberty to erase his name from the subscription book."
On January 11th, 1843, it was voted to extend the time for receiving subscriptions until Wednesday, April 12, 1843 but it was not until Monday, March 18, 1844 that sub- scriptions totalling $100,000 were finally received. The raising of this capital had required nearly three years from the time of the granting of the charter. The capital con- sisted of $10,000 in cash and $90,000 in notes.
The original charter granted the Corporation power "to insure all kind of property, and to make insurance upon vessels, goods, wares, and merchandise, freight, bottomry and respondenti interest, and to make all and any insur- ance appertaining to, or connected with marine risks, inland transportation and navigation; and abo to insure all kinds of property of whatever kind of nature soever against los or damage by fire, also to lend money on bottomry and respondentia".
The Corporation was also empowered, upon the establish- ment of an Annuity Fund, "to make insurance upon life or lives". This phase of the insurance business was never pursued and in My, 1862, this provision of the charter was repealed.
The first meeting of the directors was held at No. 13 Exchange Building on March 14, 1844, at which the fol- lowing officers were elected:
JOSEPH N. CLARKE, President DENNIS KIMBERLY, Vice President PHILIP S. GALPIN, Secretary NATHANIEL A. BACON, Treasurer
Founded 1841
Operations were commenced on a modest and conserva- tave sale. All risks were generally submitted to and passed spon by the Board of Directors. The Company's main venture was in the realm of marine insurance; fire insurance was limited to local and neighboring risks. The first agent Hpwanted was Sheldon Bassett in April, 1844, to represent the Company in Birmingham, (now Derby ) Conn. and w October of that year Simcon Baldwin was appointed Hint for New York City. Though the Company had been mevistence for over 25 years, in 1872 its net fire premiums fa thit year totalled but $23,000. But from this time on more attention was devoted to the extension of the fire wwurance business. In 1873, net fire premiums rose to micr $67,000-an increase of more than 200% over the previous year and in 1874 the amount was nearly $112,000. The name of the Company was changed from the "Mutual Security Insurance Company" to that of the "Sesurity Insurance Company of New Haven" in May, 18;3.
The first offices of the Company were located in the Timothy Dwight Building in State Street which served the Company's purposes until 1860 when they were moved to the Lyon Building in Chapel Street. In 1887 the Security erected its own first building at 37 Center Street and oc- .pied it until 1910 when new and much larger quarters wate erected at the corner of Church and Eln Streets tow replaced by the Union and New Haven Trust Com- pony Building ). This building served until 1925 when the
present beautiful structure was erected at 175 Whitney Avenue.
The design of the new Home Office was carefully studied to harmonize with the residential character of this portion of Whitney Avenue, and to preserve, in its archi- tecture, the Colonial traditions of New Haven. In order to accomplish these aims the front portion of the building was kept down to occupy only eighty-six of its two hundred and fifty foot frontage, and the facade placed some sixty feet back from the street. The Georgian style of archi- tecture was used, modified to express the modern and business-like nature of the institution. The building was designed to completely satisfy the requirements of the various departments of the business, and also to provide recreational facilities for the many employees. In" itself the building stands a monument to this nearly century old institution.
The Company has extended its activities from time to time and now, through its own departmental offices at Rockford, Illinois, San Francisco, California, and Toronto, Canada, operates throughout the entire United States and Canada. In addition, the steady progress of the organiza- tion is reflected in its ownership and operation of the fol- lowing companies: The East and West Insurance Com- pany of New Haven launched June 1, 1923. California Union Insurance Company of San Francisco, Cal., ac- quired May, 1930. The Connecticut Indemnity Com- pany which began business July 1, 1931.
First Board of Directors
Present Board of Directors
ELINU ATWATER
Present Officers
JOHN T. MANSON
NATHANIEL A. BACON
VICTOR ROTH, President
JAMES T. MORAN
JOHN BRADLEY
WILLIS BRISTOL
WALTER D. WILLIAMS, Vice President
ARNON A. ALLING
JOSEPH N. CLARKE
W. PERDUE JOHNSON, Vice President
VICTOR ROTH
WILLIAM H. ELIs
BENTON A. SIFFORD, Vice President
Jumus G. DAY
JOHN ENGLISH
W. A. THOMSON, Secretary-Treasurer
HARRY C. KyIGIT
HENCHMAN S. SOULE
GILBERT H. FOGTON, Asst. Secretary
EDWARD G. BUCKLAND
AARON BENEDICT
EVERETT T. TANNER, Aut. Secretary
JOHN J. MCKEON
HARVEY BARNES
EGBERT P. STOVER, Ast. Secretary
HAROLD K. ENGLISH
SHELDON BASSETT
EDWARD V. OLIVER, Asst. Secretary
Lovis L. HEMINGWAY
DENNIS KIMBERLY
CLARENCE BLAKESIFE
NINETY-THREE YEARS GROWTH
COMPARATIVE FINANCIAL STATEMENT
Assets
Reinsurance Reserve
Capital
Net Surplus
Vet Premiums
1875
$ 353,363.46
$ 88,771.79
$ 200,000
$ 46,176.00 68,865.88
$ 211,937.48
1885
451, 168.24
155,769.65
200,000
257,149.72
1895
703,481.56
338,076.68
200,000
105,762.34
481,242.74
1905
1,866,319.09
910,421.02
500,000
385,129.03
995,208.21
1915
4,283,505.99
2,269,948.93
1,000,000
732,734.39
2,48;, 287.84
1934
10,418,579.09
3,840,226.02
2,000,000
2,493,879.84
3,753,713.00
ENOS SPERRY
WALTER D. WILLIAMS
NATHAN PECK, JR.
THERON TOWNER
NATIONAL FIRE INSURANCE COMPANY
NATIONAL FILE IN.
National Fire Building, 95 Pearl Street, Hartford
HE National Fire Insurance Company of the Franklin National Insurance Company of New Hartford was incorporated in 1869, and York and the Transcontinental Insurance Company of New York. These affiliated companies have the same officers as the National and their executive offices are in the National Building, at Hartford, Conn. began business in 1871. During the sixty-five years of its existence, it has had four presidents-Mark Howard, James Nichols, Harry A. Smith and Frank D. Layton, the last three of whom gained their insurance experience in the service of the Company.
The affairs of the National and its affiliated com- panies are in the hands of thoroughly experienced men. The directorate of each Company is composed
Affiliated with the National are the Mechanics and Traders Insurance Company of Connecticut, of men prominent in business and finance.
1845
OF HARTFORD, CONN.
Established 1869
Eighteen Seventy-one Capital $ 500,000.00 Surplus Available for Protection of Policyholders $505,613.16
MARK HOWARD, President JAMES P. FOSTER, Vice President JAMES NICHOLS, Secretary
Directors
JAMES BOLTER HOMER BLANCHARD FRANK W. CHENEY JAMES P. FOSTER WILLIAM B. FRANKLIN HARRISON B. FREEMAN WAREHAM GRISWOLD MARK HOWARD RICHARD D. HUBBARD JOHN F. JUDD WILLIAM H. LEE ELIJAH H. OWEN WILLIAM S. PIERSON EBENEZER ROBERTS DANIEL F. SEYMOUR TIMOTHY SHELDON ELISHA N. WELCH
JAMES NICHOLS President 1887-1915
----
Nineteen Thirty-five
Capital $5,000,000.00 Surplus Available for Protection of Policyholders $23,331,217.91 FRANK D. LAYTON, President SIDNEY T. MAXWELL, Vice President Vice Presidents
ROBERT M. ANDERSON GEORGE F. COWEE
CHARLES L. MILLER CALVIN B. ROULET
Vice President und Secretary H. BACON COLLAMORE
Secretary and Treasurer FRED B. SEYMOUR
Secretaries
RICHARD C. ALTON LOUIS C. BREED WV. CARLETON BROWNE WALTER W. CORRY SIDNEY W. PRINCE Assistant Secretaries WILSON H. HINSDALE WILLIAM (). MINTER
Directors
FRANCIS T. MAXWELL
SIDNEY T. MAXWELL ARTHUR M. COLLENS
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