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I F 8 r I y i t EXTRACT FROM Report No. 21 of the Executive Committee ADOPTED IN COUNCIL J U LY I 7TH, I 894. MUNICIPAL BUREAU OF INSURANCE. Your Committee have again considered the Report re Fire Insurance Premiums in City of Toronto, referred for further consideration ; also the supplementary report presented in the Suh-Cotnmittee report herewith, and recommend the concurrence of Council therein : SUB-COMMITTEE re MUNICIPAL BUREAU OF INSURANCE. To the Chairman and Members of the Executive Committee : GENTLEMEN, — Your Sub-Committeo have given careful attention to the Report re Fire Insurance Premiums, referred for their consideration, and also to the supplementary report herewith submitted. The statistics presented are of so reliable and interesting a character, your Sub-Committee unanimously endorse these reports, and recommend that legislation be obtained to enable the Council to carry out the recommenda- tions therein contained. Respectfully submitted. Committee Room, Toronto, July 4th, 1894. Daniel Lamb, Chainnan. MUNICIPAL BUREAU OF INSURANCE. The following supplementary report gives the principal fire insurance compan'es doing business in this City, and also shows the small capital required to carry the millions of dollars of risks, and the large profits made, ranging from 10 to 75 per cent, on the capital invested by the shareholders, which is paid by the property holders and ratepayers, as well as maintaining their expensive oflSces, with an army of highly-paid agents and officials. i 822o 000 for interest and sinking, fund, and for inaintenanc(3 «17o Om making- a total (annually) of about 1400,000. ^'n^enanaj ??17d,000, of ^Zv- ^'V"^^^' ^'^ ''""'""^ ^* mO,UO, and tha annual cost of maintenance of the Fire Department is about $160,000. maintenance The Police Department (with its extensive patrol and teleg-ranh system^ patrolling the City day and night, has proved itself of immense service in Te porting fires in their incipient stages, thereby preventing them rom 'a nin" It'notTo^; J ^^^-^--^ -hich is larger than it migtt otherle "b'wer! It not for their services in this direcHon costs the rfiv Z. „.- . , »230,000 anDually. ' '^ '"' matntenance about l.« f^""' *" ""! *'"'™ P™''"""" «?«'"»' «■■« h«' been provided within the las 20 vears, w.thout any corresponding advantages to the City i„T o hane t^Z :: thlsX ™'^ "-""^'^"^ "> ""' P™"- "f ""O eo^Pan^e: ^'l !^ There has unquestionably been paid since the incorporation of the Citv an amount m premiums in excess of Are losses which, with interest woud r;; ::renr '"^ ^'-^ •"• "-^ •'^''=™' debenture d^bt, generr-idn Abstbact of Statistics op the POL,x.wmo Insurance Companies showin™ Amount op Capital Invested, Dividends Paid, etc., as pLrs^CK ExcHANOE Yeab Booe, 1893, and Dominion Go^rnm^t B.ue Iook Alliance Assurance Company. Subscribed capital. £5,000,000, in shares of £20, with £550 000 or £2 4s per share, paid up. For 1884, 1885, 1886, 1887 and 1888 a 157 dividend was paid each year, and for 1880, 1890 and 1891, 8s. per share. Capital paid up, £550,000, or $2,676,666. Canadian risks carried in 1893, $24,195,018. Amount deposited with Receiver-General, $292,000. Commercial Union Assurance Company ^b% tor the four years ending 1891. ' Reserve fund, £2,740,949. Capital paid up, £250,000, or $1,216,666. Canadian risks carried in 1893, $40,910,737. Amount deposited with Receiver-General, $417,073. £5( 188 £2 18£ £2 wa am ye« £6 l&E £2 £1 i iter works nditure of l?175,000, intenance fi system), .'ice in re- fi ;:,''aining' e be were nee about athin the ihe shape ies doing the City Jt, would ind local SHOWING R Stock B Book. >r £2 48. end was £5 per nd was 37, and 4 i i Guardian Assurance Company. Subscribed capital, £2,000,000, in shares of £100, with £1,000,000, or £50 per share, paid up, of which £40 per share was paid out of profits. For 1882 and 1883 a dividend of £2 lOs. per share was paid each year ; 1884, £2 10s. and a bonus of £2 ; 1885, £3 ; 188G, 1887 and 1888, £3 10s. ; 1883, 1890 and 1891, £4 5s. Capital paid up, £1,000,000 (£400,000 out of profits), or $4,866,666. Canadian risks carried in 1893, $37,400,004. Amount deposited with Receiver-General, $216,567. Lancatihive Inaurance Company. Subscribed capital, £2,729,860, in shares of £20, of which .£272,986, or £2 per share, has been paid up. In 1879, 1880 and 1881 a dividend of 20% was paid ; 1882, 15% ; 1883 and 1881, 10% ; 1885, 114% ; 1886, 13^% ; 1887 and 1888, 15% ; 1889 and 1890, 17i% ; 1891, 12|%. Capital paid up, ^£272,986, or $1,328,531. Canadian risks carried in 1893, $32,052,140. Amount deposited with Receiver-General, $192,333. Liverpool, London and Globe Insurance Company. Capital, £245,000. The dividend for 1883, 18S4 and 1885 was 57|% each year ; 1880 and 1887, 65% ; 1888, 70% ; 1839, 1890 and 1891, 75%. Capital paid up, £245,000, or $1,195,253. Canadian risks carried in 1893, $49,021,658. Amount deposited with Receiver-General, $320,533. North British and. Mercantile Insurance Company. Subscribed capital, £2,750,000, in shares of £25, of which £687,500, or £6 5s. per share, has been paid up, includinj? £325,000 out of profits. In 1882 a dividend of £1 5s. per share was paid ; 1883 and 1884, £1 10s. ; 1885, £2 5s. ; 1886, 1887 and 1888, £1 15s. ; 1889, £2 ; 1890, £2 7s. 6d. ; 1891, £1 10s. Reserve fund, £9,375,327. Capital paid up, £687,500 (£325,000 out of profits), or $3,345,833. Canadian risks carried in 1893, $52,026,021. Amount deposited M-ith Receiver-General, $713,993. 6 Phnnix Fly AnaMiuiirp. Com]iani/. Cnpitnl, X'7l,918 15s. Not nHHcts, X'l,38:),n02. For 1881-2 the total dis- tribution for dividend was 116 per hlinro ; 18S2-3, 1883-4, 1884-6, X'lO lOs. j 1885-G, £12, and each of f he nix years to 181)1 2, £iii lOn. Capilal paid up, i;71,918 15m., or 8:?50,004. Canadian risks carried in 18'j;], .S31,o00,510. Amount deposited with Receiver-General, .S187,043. Rdjial I iismutiirc Comjmny. Subscribed capital, £2,444, 080, in shares of .t'20. Capital paid up, £300,702, or £3 i)er share, X'l per shares havinfj;' been paid out of profits. For each ol the (ivo years endiii;,'- with 1883 the dl-itril)Ution was 2ns. per share ; 1884 and lS85, 28s. ; 18SG and 1887, 30s. : 1888, 32s., and for 188'J, 1890 and .1891, 35s. Capital paid up, £300,702 (in22,234 out of profits), or $1,784,010. Canadian risks carried in 1893, ^84,070,500. Amount deposited witii Receiver General, 8039,503. S\{)i I)tiiHr((iico Compunij. Subscribed capital, f2,400,000, with £120,000 paid up, the same having been taken from dividend reserve fund. At thc^ end of 1891 there were 4,800 shares witii nothin^,'- paid up, what was paid havin<'- been returned out of profits. As from January 1st, 1892, there were issued 50 new shares of £10 each, with 10s, credited as paid in exciian'i'e for each old share, 2,500 new shares being- held by the company. In each of the nine years to 1891 the shareh Iders received £22 i)er old share. In January, 1892, a distribution of £5 per old share was made, and in July, 1892, a balance distribution of Gs. Od. per new share, the total distriinition in respect of 1891 beinjj: equivalent to 85% on the paid-up capital as it now stands. Reserve fund, £1,589,213. Capital paid up, £120,000 (taken from reserve fund), or 8584,000. Canadian risks carried in 1893, 89,000,913. Amount deposited with Receiver- General, 8292,000. Canadian Companies. British America Astmrance Company. Capital paid up, 8750,000. Reserve fund, .$20,708, after deducting $445,165 for re-insurance. Dividend paid for the last half-year ending January, 1893, 3^%. Net amount of insurance in force 1893, 8107,169,417. 1 (! total dis- X'lO 10b. : p.'iid up, rolits. For pnr share ; ), 1890 and Gl(5. mo having' were 4,800 lu'd out of .res of i*10 2,500 new ) 1891 the ribution of 11 of Gd. Gd. livalent to ),213. 300. Kadi'Di Fire InHiirance Company. Capital, $250,000. N(5t amount of insurance In force 1893, $19,831,172. Mercantile Fire Tnsinance Company. Capital, $40,000. Net amount of insurance in torce 1893, $14,214,778. QneJtec Fire Inmiranrc Company. Capital, $99,920. Net ainount of insurance in force 1893, $13,880,049. Western Annnrance Company. Capital, $1,000,000. Reserve fund, $319,104, after deducting $748,872 for re-insurance. Net amount cf insurance in force, 1893, $105,1154,710. deducting fir ending 169,417. The following extracts from letters r«'ceivcd by the Chairman of the Committee re Fire Insurance show the rates paid by ditfereut companies and individuals : Canada Permanent T^oan and Savings Company. J. Herbert Mason, Manarjer. The amount of insurance carried by this company in this City is about one and a half millions ot dollars. Tlie rates range from 85 cents to 7 per cent, per annum, and average about 90 cents per $100 per year. We are of opinion that the rates charged in this City arc higher than is required by the risks incurred, and it would appear that the prolits made out of the citizena of Toronto go towards meeting losses where less cn'eetivi? int-ans of preventing fires prevail. If the City authorities during the last forty years had applied to an insurance fund what they have paid out in premiums, less losses incurred, wo have little doubt but that they would now have a fund, the interest upon which would go far towards meeting any losses that are likely to occur. Confederation Life Association. J. K. Macdonald, Manager. The rates paid by this company for fire insurance are as follows : On first-class dwellings, if dotaclied, a rate of 65 cents for three years. If semi-detached, 70 cents. If three or more houses together, 75 cents. On second-class dwellings, under similar conditions with the above, the rates are 75 cents, 75 cents and 80 cents respectively. On rough-cast and brick veneered dwellings, under similar conditions, the rates are 80 cents, 90 cents and $1.00 respectively. On manufacturing properties the rate varies from 94 cents to $3.50 per annum, according to nature of risk. 8 Western Canada Loan and Savings Company. W. S. Lee, Manager. The company has invested rather more than a million dollars In City property, which, with a small excoptanco, {» house and shop property. We have paid directly to different Insurance companies ourselves about 67,r)00 In premiums during the year 18D3, and probably there has been nearly as much more paid by our borrowers thomselve? to the insurance companies direct. The rate of premium varies according? to the class of property, and runs- from G5 cents to $1 per $100 for three years. Wo have vorj few loans upon factory property, but the rate charged us- upon such risks as we have is 1^ per cent, for one year. Not being interested in the insurance of contents, wo cannot give any information upon that point. The amount of our policies upmi City of Toronto property would probably be In the neighborhood of ITwO.OOO. Setting aside any losses by fire upon factory property, the percentage of losses upon house and store property has been very small indeed in the history of this company. Mr. C. Powell. I beg to say the gross amount of insurance I carry is $41,275, and the amount of annual premium is $142.63, say about 34^ cents per $100 per annum. Dr. E. J. Barrick. The total amount of insurance upon eight brick stores, two roug-hcast brick-fronted stores, two detached brick dwellings, one brick dwelling in a row, four rough-cast houses, and two rough-cast cottages, amounts to $30,G00, and the annual premium $179.03, or an average rate of 58^ cents per $100 per annum. Mr. D. M. Defoe. I find that my total insurance amounts to $66,500, of which $25,0u0 is insured on the three-year plan. I have equalized the rate on the gross amount insured ajd the gross premium paid, and I find that the annual rate is 74J cents per $100. Mr. David Walker. Amount of insurance, $01,850 ; annual premium, $666.84, or 72^ cents- per $100 per annum. The abovfi does not include plate "-lass. 9 ars in City perty . We It $7,500 in riy as much J8 diroct. r, and runs cliarged us •t give any lid probably rcontage of leed in ttie '5, and the 3r $100 per roughcast elling in a mounts to )f 58^ cents $25,000 ifl. 1 the gross mnual rate r 72^ cento i 1 i Mit. John Denny. I have seventeen houses insured, elyht of wlilch are senii-detnched and nine in terraces. I am paying an average rate of (I") cents per $l,UX) for three years. Fkbbiiolu Loan and Savincu Company. iS. C. Wood, Mamujpr. V, ) oay annually 21?, cents i'or evv,.y $100 of insurance. Union Loan awu Savings Company. Win. Maclean, Manafjuv. We find that the average rafo of insurance on property in the City of Toronto covered by thii Company'^ mortgages is 83i cents for three-year risks, equal to about 28 cents per year. On one-year risks, which cover stores, etc., the rate appears to average about $1.05 per annum. Messrs. John Taylor & Co. The following will show the rates of insurance paid by this firm on their factory and stock : On soap works (brick portion) $18,100, at U% per annum. On annex (covered with galvanized iron) 21,500, at 2% On stock in warehouse (77 Front St. E.) 32,000, at 70c. The amount varies slightly from year to year, but the rates remain fairly stationary. Mb. J. R. Stuatiiy. The insurance on property owned or managed by me amounts to about $115,000. The shops are insured for one year and the dwellings for three years. , Insurance on shops $45,450 Premium for one year . . .$;532 25 '• dwellings.. 67,150 " three years 538 G5 bo it appears that the average rate of insurance for shops for one year is a little under the 74th part of one per cent., and on dwellings for three years a little under eight mills on the JoUar. The People's Loan and Deposit Company. Jamen Watson, Manager. The premiums which we have paid for the past three years amount ta $6,768.60, or $2,256.20 averaffe per year, and the amount of insurance at present is $688,175, which makes the average about 33 cents per $100 per year. Our business is what you would call a first-class insurance business, as we have no mills or manufacturing concerns, and our rates are the lowest that can be got. ir 10 I Messrs. W. A. Murkay & Co. We beg- to say that all larg-o ostablishnients such as ours have special rating-. We pay 75 cents on our stock and 65 cents on the building-. Mr. Wiluam Rankin. The following- will show the rates paid by the above g-entlerr.an : Mill property 83,300 at 6 per cent $198 00 Stores 0,000 at 1 Dwelling- houses 1G,()00 at I Storehouse 1,500 at 2.V 1 1 90 GO 41 50 37 50 3367 00 8)0,100 An average of about 11 per cent. Mr. a. W. Godson. The g-ross amount of insurance carried by me amounts to 8115,000, and for the most part the prcnniunis are payable every three years. I lind that 1 pay au average rale ol' 75 per cent, per $100 per annum, ]Mr. Jamks Crockkr. I be^ to state th.it the g-ross amount of insurance on my property is $91,000, and the yearly premiiirn 8(J05. I think you are making- a : :jve in the right direction, and you have my sympathy. IMr. R. J. Kknneuv. The g-ross amount of insurance carried by me is 840,000, for which I pay 8360 every thren years, or in other words, 00 cents per 8100 per annum. SIr. J. SiNOER. I beg- to say that I pay on B2o,ObO i'or three years, 82;56,80, and on 8-21, oGO for one year, 8293. I nirT^- ;ilso mcntiou that the Board of Under- writers made me pay this year 2 per cent. [)er annum on my property on corner Queen and York Streets, instead of 81. 25 (which I have been paying the last Um years), and I can see no reason for it. Messrs. John Fisken & Co. Thirty of our properties were insured last year for 8251,552, at a cost of 82,113 per animm. A i'ew of thj properties included in the general list are dweili)ig houses, consequently the rate on the whole would be something- less than given, owing U isolated dwellings being insured for three years. The premium on small manufactories range from 1 to 2 per cent, per annum ; and on lar^e buildings used for manufacturing purposes. 2 to 4 per cent.; on opera houses, 4 per cent. ; and on planing mills and other hazardous risks, 4 to 8 per cent, per annum. i 1 H 11 have 8 pecial inff. an : 98 00 90 CO 41 50 37 50 67 00 15,000, and I find that 1 property is ff a 'jve in which I pay aniiuin. 5.80, and on d of Under- propcrty on becAi paying . at a cost of leral list are nething" less ears. per annum ; nt.; on opera s, 4 to 8 pep REPORT RE FIRE INSURANCE. Presented to Execntke Committee May 17th, 1S94, nnd ordered to he printed for consideration at next meetimj. The undersignea beg to report that they had a conference with the Fire Underwriters at the Board Room, Board of Trade Building, there being twenty-five gentlemen present, representing about forty insura -e companies doing business in the City of Toronto. It was explained to the underwriters that "they had been appointed in response to a public expression of opinion that the\'ates of insurance exacted from the property owners of the City of Toronto were far in excess of what they should be, considering the favorable class of risks, the first-class fire plant, a most efficient (ire brigade, a diligent police forc-^, and above all a splendid supply of water at high pressure. Under these circumstances the premium rates charged were fully twenty five per cent, too high, and the prolits made by the insurance companies on the City of Toronto risks were used to pay off losses in other parts of the country, which was not fair to the City of Toronto. After a desultory discussion amongst the different representatives of the Fire Underwriters, \he President, Mr. Thompson, stated that the matter would be given serious consideration, and the result coinmunicatod to us This came under a letter dated April P.Oth, and was simply a complaint that the Toronto equipment is inferior, especially in the matter of steam tire engines, to that of other cities, and that before it would be up to a hi^^her standard it would bo necessary to have the following additions made to the fire brigade : " 1 Steam Fihb I-^nchnes. "At least three steam fire engines are necessary for the adequate pro- tection of the City, one each for the east, centre and west. Your very efficient Fire Chief, Mr. Ardagh, has repeatedly urged the purchase of one or more steam fire engines as being absolutely e.ssential to the protection of the City. "2. Chemical Enoine.s. «' At least three more standard chemical engines are required to cover the whole area of the City. "3. Fire Boat. "One fire boat should be procured for the protection ^f the water front. "4. Water Tower. " In view of the number of high buildings that are being erected a water tower should bo provided. 12 "5. Salvage Corps. "In the interest of the citizens much more than in the interest of the companies a salvage corps should be established. *'G. Fire Apparatus. "It is also essential that the above and all the fire apparatus in the City- should be efficiently manned and maintained. Some of the appliances are at present practically useless through this not being- done." We communicated with Chief Ardagh of the fire brigade for information regarding losses by fire, etc., and to Mr. Maughan for valuation of buildings within the City limits, and herewith submit the following figures for compari- son and general information on the subject of insurance : Losses by Fire, Buildings and Contents Included. Year. Losses. Insurance. 1886 ^280,902 .$1,164,163 1887 74,785 638,149 1888 215,192 967,979 1889 134,760 1,016,138 1890 (University fire) 487, 186 1, 184,473 The losses on buildings and contents separate, being the only three years that these have been kept distinct : Loss on Year Buildings. Insurance. 1891 $40,723 $432,649 1892 67,048 541,563 1893 60,617 426,545 •t 168, 388 Loss on Contents. Insurance. Total Loss. $169,392 $717,557 $210,115 15.3,460 569,543 220,509 134,786 594,5.36 195,403 $457,638 The folfowing figures are taken from the assessment rolls, and show the value of all buildings in the City of Toronto, dividing the same into taxable and exempt buildings : Taxable Exempt Year. Buildings. Buildings. Total Value. 1891 $49,H36,181 $ 8,108,208 §57,944,389 1893 53,.339,016 ] 0,754,530 64,093,545 1894 , 54,690,214 10,700,000 65,290,214 Insurance is generally effected on buildings for about two-thirds of the assessed value. Merchants and manufacturers generally carry on stocks and machinery an amount equal to about ten times the value of the buildings. Statements showing the loss for the past three years show losses about two or three times greater on contents (merchandise, etc.) than on buildings. 18 merest of the us in the City liances are at >r information I of buildings } for compari- surance. 164,163 638,149 967,979 016,138 184,473 y three years e. Total Loss. J $210,115 3 220,509 [J 195,403 and show the into taxable Total Value. §57,944,389 64,093,545 65,290,214 -thirds of the 3n stocks and juildings. f losses about }n buildings. It may be assumed that there is three times the amount placed on merchan- dise, etc., than on buildings. Rate of insurance ranges from one-third to eight %, but it is understood the average rate, except for a hazardous risk, is 60 cents per #100. Statement Showinci the Amount op Insurable Buildings and Contents IN Toronto for 1894. Buildings (two-thirds average assessed value) $43, 526, 811 at '60 prem. = $261, 160 86 Contents, merchandise, etc., three times the value of buildings 130,580,428 " - 783,482 56 $1,044,643 42 Average loss for eight years 227,334 Amount received by Insurance Companies, after paying all losses 717,309 Comparative Statement of Loss by Fire and Rate of Premium. Qity Average rate. Fire loss. Year. BuflHio -50 per cent $1,050,176 1893 Toronto". "60 " 220,000 Syracuse "50 " 317,510 1891 Albany "50 " 560,910 Detroit -50 " 630,976 After most careful and mature consideration, we can only come to one conclusion, that the forty different insurance companies doing business in the City of Toronto have united in a close corporation, " Fire Underwriters," in which they have a combination to control the fire insurance for their own gain and profit, and that the present rates charged for insurance are fully fifty per cent, too high. That in view of these facts we would recommend that the City Council apply to the Legislature to obtain power to give the citizens of Toronto, represented by the Municipal Council for the City, a municipal bureau of insurance, to consist of three commissioners, two to be appointed by the City Council and one by the Board of Trade, who will appoint manager, inspectors, treasurer, chief accountant, and such other staff that may be necessary. That this commission have power to assess all buildings for insurance purposes, and effect insurance on merchandise, stock, machinery, furniture, etc. That the commission will have charge of the Fire Brigade. That debentures be issued to the extent of one million dollars, to be sold and invested in other negotiable securities, for a reserve fund to meet extra- ordinary losses. The following is a statement showing an estimate of the operation of such municipal bureau of insurance, charging only one-half of the present rates, r 14 maintaining: Fire Brigade, and still adding a large amount every year to the reserve fund : Municipal Bureau of Insurance. Statement of Edimated Receipts and Expenditures. Cr. By premiuni on $43,52(),811, being two-thirds of value of buildings, at -30% !i?130,580 43 By proniiuni on $130, 580, 42(5, being value of contents, merchandise, etc., and three times the value of assessed value of buildings, at •30% 301,741 28 By interest on .^1,000,000 securities, invested at 4% 40,000 00 $562,321 71 Dr. To interest on $1,000,000 debentures, at 4% ^ 40,000 00 " average fire loss, 8 years 227,3.34 00 ' ' officials and office expenses 35,000 00 " maintenance of Fire Brigade 161, .535 00 " additional fire plant, annually 10,000 OU " maintenance of two salvage corps 15,000 00 $488,869 00 Net annual profit to be invested and added to reserve fund $73,452 71 Respectfully submitted. Daniel Lamb, James Gowanlock, Aldermen. City Hat.l, Toronto, May 17th, 1894. Extract from Toronto "Globe," July 17, 1894. The most interesting matter to come before the City Council at the meeting this afternoon is Aid. Lamb's civic insurance project. It will be brought up on a report to the effect that the Fire Underwriters of Toronto have united in a close corporation, and have a combination for their own gain and profit, the result of which is that insurance rates are fully fifty per cent, too high. So runs the report, and the Council is asked in view of these facts to apply to the Legislature for ])ower to establish a Municipal Bureau of Insurance, to bo managed by a commission. When it is remembered that in rural Ontario the farmers, through the township mutual insurance companies, do their own insurance at xceedingly low rates, and that the new Legisla- ture is more largely than ever before a farmers' House, the importance of the I 16 jry year to the $130,580 43 ie, ;it 301,741 28 40,000 00 $502,321 71 ^ 40,000 00 227,334 00 35,000 00 161,535 00 10,000 00 15,00t) 00 1488,869 00 $73,452 71 LOCK, Aldermen. 14. ^uncil at the ict. It will be ters of Toronto for their own s fully fifty per [1 view of these ipal Bureau of rnbered that in nee companies, 3 new L*>gisla- portance of the I present movement and the possibility of the adoption of very radical legisla- tion appears so great that for sometime past " The Globe " has urged the insurance companies to meet the agitation by a reasonable reduction of rate& in Toronto. There seems to be a disposition among the insurance men, however, to fio-ht the matter out, and the figures of Aid. Lamb, in which he showed by a criculation based on very general enquiry, that, in his opinion, over a million a year was paid in insurance premiums in Toronto, have been keenly attacked." In the report these figures are given as follows : Buildings (two-thirds average assessed value), $43,526,811, at -60 premium, $201,160.86 ; contents, merchandise, etc., tiiree times the value of buildings, $130,580,428, at -00 premium, $783,482.56 ; total, $1,044,643.42. Average annual loss for eight years, $227,331 ; yearly amount received by insurance companies, after paying all losses, $717,309. These figures were at once assailed on the ground that they were fifty per cent, too high, but up to the present time no figures in contradiction have been published, insurance men confining themselves to a general denial. Perhaps the best example of the manner in which the companies seek to controvert the figures is to be found in the letter addressed to " The Globe " on Saturday by Mr. J. J. Kenny, Managing Director of the Western Insur- ance Company. Mr. Kenny said : THE OTHER SIDE. I have read with interest your editorial in to day's issue in which you undertake to demonstrate, in support of a statement made in a previous issue, that the property owners of Toronto are paying annually fire insurance premiums of at least $1,000,000, notwithstanding the fact that the Dominion Govern.nent Blue Book shows that the total premiums collected by all the companies reporting to the Insurance Department on their entire Canadian business, from Halifax to Victoria, is less than $7,000,000. " I am confident that no unprejudiced mind will be convinced by such arguments and calculations as you use, or, in tact, by any method of reason- ing, that Toronto, where the rates of premium are much below the average of the Dominion, is paying one-seventh of the entire premium collected by th.' companies in Canada. Be this as it may, however, you have certainly failed to give duo weight to the figures showing the total amounts insured in Canada. Taking $687,553,680, as shown by the Dominion Blue Book, and $140,000,000as the amount insured by mutual companies not reporting to the Dominion Insurance Department, we have a total amount insured for one year in Canada of, say, $830,000,000. Now, your arguments throughout the discussion have been based upon the statememt that the amount of insurance upon property in this City is at least $200,000,000, but even Aid. Lamb, in 16 his wildest mathematical flights in connection with his civic insurance scheme, has never gone quite so far as to maintain that nearly one-fourth of the property insured in the Dominion is situated within the limits of the City of Toronto. •'It is, perhaps, too much, Mr. Editor, to expect, when your attention is called to this feature in the official returns, demonstrating beyond question that your whole argument is based upon false premises, that yuu would frankly admit, as an ordinary mortal would do, that you were wrong. The infallibility of the editorial ' we ' must, of course, be maintained ; but I trust you will have no objection to my placing these figures in this form before the public through the medium of your columns, allowing them to draw their own conclusions." DENIAL NOT SUFFICIENT. From the conclusion that the doctrine of editorial infallibility has any place in these columns or in framing the arguments to be found in them, *' The Globe " must respectfully dissent. It is prepared at any time frankly to retract a statement shown to be founded on false premises. It is to be regretted, however, that the attitude of the gentleman engaged in the defence of the fire insurance interest does not warrant the acceptance of their view of the case. In effect they say : We do not know how much Toronto pays yearly for fire insurance. We have never compiled the figures. We at the best can but guess at the amount. Our guess is 1500,000, yours is $1,000,- 000. Your guess is absurdly high, ours is just about right- The Board of Underwriters will pardon the citizens if they refuse to accept any such method of arguing out the case, and the more so because they have at hand a simple enough way of finding out their Toronto income by examination of the books of the various companies. Turning to Mr. Kenny's figures as presented above, it must be observed that he very greatly underestimates the premiums paid and the insurance carried in the Dominion. The straight premium companies received last year $6,783,000 on $687,553,000 of risks. In addition to this in Ontario alone there were risks to the amount of $140,000,000 carried by mutuals. Of the cost to those so insured no condensed record is given, but assuming it to be half that of the stock companies' insurance, or one-half per cent, yearly, 8700,000 fall to be added to the yearly cost of insurance. Of the operations of the mutuals in Quebec no complete record is available, and in the other Provinces there is a considerable amount of unorganized co-operative insur ance that does not come under the cognizance cf the law. So that while $830,000,000, the amount insured by stock companies and by Ontario mutuals, represents the bulk of the fire insurance of Canada, it does not by any means represent it all, as Mr. Kenny's argument would lead the casual reader to Nor does '* The Globe " assert th.%t Toronto is pa" in" one=sftventh onnnoaA. — x-x 17 ranee scheme, fourth of the )f the City of ir attention is ond question ,t yuu would wrong" The [ ; but I trust 'm before the draw their lity has any nd in them, time frankly It is to be in the defence their view of Foronto pays We at the s is $1,000,- The Board ipt any such lave at hand amination of t be observed he insurance received last is in Ontario mutuals. Of suming it to 3ent, yearly, le operations in the other rative insur that while ario mutuals, )y any means lal reader to one=seventh of the entire cost of the insurance in Canada, for the annual cost, iucludin;,' mutuals, throughout the Dominion, is probably much nearer nine than seven millions yearly. ASSESSMENT OP ONTARIO. Coming back to Ontario, we have something- tangible upon which to base an estimate. Ontario, with a population of 2,114,321, out of a total for the Dominion of 4,833, 2B9 persons at the last census, is generally conceded to have half the wealth of the Dominion, and therefore may reasonably be sup- posed to carry half the insurance done by stock companies. This is some $343,776,000. In addition, it ha^ some ^140,000,000 of insurance on the mutual plan, a total of S483,776,0i lO of both sorts. It is admitted that the mutuals have almost a monopoly of farm insurance, and that, to use the words of the Provincial Inspector of Insurance, the stock comi)aniesg-ot only the "culls " ot the farm business. The mutuals, therefore, practically assinne the risks in the townships, and the stock companies in the cition, villages and towns. The total population of townships is, according to the assessors' returns, which vary from those of the census, $1,105,471, and the total assessment $452,083,000. The value of farm buildings, as stated by the owners to the. Bureau of Industries, is $195,644,000, and the insurance, on the assumption that the mutuals cover the field, is $140,000,000. Here, then, is over one-half ot the population of the Province with but 29 per cent, of its insurance. Turn- ing to the villages and towns, we find the population set down at 422,425, and the assessed value at $125,597,000, or a trifle under 8300 per head, as compared with $450 per head of the township or farming population. Turn- ing to the cities, we find the population set down at 386,979, and the assessed value at $247,724,000, or an average of $644 per head of population. These figures show the concentration of wealth in cities in a striking fashion, and load naturally to the inference that insurance must attend this concentration. DISTRIBUTION OP URBAN WEALTH. Toronto in 1892, the year for which the figures are given, had $151, 158,- (X)0 of assessment, or 42 per cent, of the assessment of all cities, towns and villages in Ontario. Is there anything unreasonable in the assumption that it had at least a like proportion of the insurance carried in the ttock com- panies ? The presumption is so reasonable that we refuse to bo laughed out of it by Mr. Kenny or any other person. Or take the assessment of the whole Province for 1892. Assuming that Ontario carries half the insurance in Canada, here are the figures : Assessment of all Ontario, $825,405,000 ; of Toronto, $151,158,000, or 18 percent, of the total. Premiums paid by all Ontario, $3,343,000 to stock companies, at an average of 1 per cent., shown bv Dominion returns, and $700,000 to mutuals at a suppositious average of .\ 18 per cent., or a total of $1,013,000. Toronto's share of cost of insurance, at ratio of 18 per cent., $727,000. Thus, upon the assumption that assessment is a fair basis of tangible wealth, 18 per cent, of the wealth of Ontario is gathered together in this City, and if followed by 18 per cent, of the ascertained insurance, the annual premium at average rates would be $727,000. This leaves entirely out of consideration the fact that Toronto is the storehouse of Ontario, and that a vast amount of the wealth in the warehouses of the City is not assessed, as it represents borrowed capital, but is the more heavily insured because of that fact. FROM TUB COMPANIKS' RETURNS. Laying aside, however, the dispute as to whether the annual premium collected in Toronto is half a million, as Mr. Kenny states it, three-quarters of a million, as a calculation based on the assessed value of the Province would make it, or one million dollars, there still remains a mode of proving how excessive insurance rates are in Toronto that the companies can haidly object to, as the figures are their own. In the annual report of the stock companies to the Dominion Government it is shown that the premiums re- ceived during the year totalled $0,783,000, and the losses paid amounted to $5,010,000. The people of the Dominion, therefore, received back in pay- ment of fire losses 73 cents for every dollar invested, the remaining 27 cents being the charge for expenses and profits on the part of the companies. In the previous year the amount returned to the insured was (j4 cents for every dollar of insurance. How do these figures compare with the totals in Toronto ? Taking the calculations of Mr. Kenny that Toronto premiums are $500,000 yearly, it is found that the people of Toronto for every dollar paid in to the companies got barely 39 cents back in fire losses, a little over half the average for the Dominion, leaving to the companies Gl per cent, of the total premium receipts for expenses and profits. The fire losses in 1893, according to the figures furnished by the Chief of the fire brigade, on information supplied by the underwriters, were out $195,000. Nor is this an exceptional condition of affairs. The average losses for the past eight years have been $227,000 yearly, so that the companies, on the basis of Mr. Kenny's figures, are making double the profit out of their Toronto business that they are making out of their business in the Dominion at large 19 insurAnce, at 8 of tangible fether in this ;e, the annual ntirely out of , and that a iBsessed, as it cause of that lual premium ;hree-quarters the Province e of proving !8 can haidly of the stock premiums re- amounted to back in pay- ing 27 cents impanles. In tits for every i in Toronto ? are $500,000 aid in to the f the average 3tal premium >rding to the 1 supplied by 1 condition of 3en $227,000 figures, are are making LETTER FROM MR. ROBT. TMcLEAN, SECRETARY BOARD OF FIRE UNDERWRITERS. Extract prom Toronto "Emi'IRB," May 18tii, 1894. To the Editor of the ''Empire " : Sir,— In common with other citizens T read with some degree of interest the new insurance schemes puhlishftd in the City press as recommended by Aid. Lamb for adoption by tlie City Council. Not knowing the various .sources from which he obtained his information, I am not in a position to check the correctness of his flj^ures. If he is not more correct in his other figures than he is in regard to the average rate of insurance pild in Toronto, as compared with other cities, very little dependence can be placed on the worthy alderman's other fanciful calculaiions. When ho wrote his rf port ho had in his possession the avoras^e rates paid in Montreal and in fifteen Ameri- can cities, showing that the average rates paid in Toronto were lower than in any of these cities ; th(u-e was, therefore, no excuse for his misrepresenta- tion. He named the only six cities in the States in which the rates of the buildings of first class warehouses are less than in Toronto, suppressing the fact that in five of the other cities named the rates were the same as in Toronto, and that in the four remaining cities the rates were much higher. He further ignores the still more important fact that the rates on stocks of all kinds (the insurance on which amounts to at least four times that on buildings) are lower in Toronto than in any of the other cities named. Probably this information, if given to the public, would be too damaging to his case. As there is a good deal of misapprehension, if not misrepresentation, reo-ardins: insurance rates here and elsewhere, would you kindly publish the accompanying tabulated statement regarding rates, which speaks for itself: 10 Minimim Rute>< on Mermniik Hish. I 4 Wholesale Dry Goods. City. Wholosivlo Groceries. Ketail Stores. ' I. 1 1- « ' r',.iiti.ri^K linildiii". ' Contents. BuildiuL'. Contents. Budding. Contents, wuuani,. ^ Cleveland | Tiuffalo ] Rochester | Syracuse Albany , Boston I Hartford Pittsburg j Detroit \ St. Louis ( 'hicago Mdwaukee .... ' Minnea))olis .... Cincinnati Washington Montreal j Wholesale fancy j goods j Toronto ! WHiolesale fancy goods c. 50 50 BO 50 50 50 75 60 60 00 60 . 00 75 m 60 52i b2h 60" 60 s c. I 75 I 70 ! 75 ! 65 I 75 i 80 I 90 j 85 75 30 76 25 '.»() 85 85 75 87* 60" 70 $ 1 c. 50 B6 60 60 55 60 60 60 60 00 70 05 110 60 60 52i 8 60 c. 80 80 86 80 85 85 7B 75 75 35 90 15 20 90 85 76 60 c. 80 70 G5 75 75 75 70 70 76 20 75 00 00 60 60 57ir 65 c. \M 90 90 90 90 90 90 86 90 1 45 95 1 25 J. 30 76 75 1 llh 75 It is worthy of remark that the president and council of the Board of Trade epresenting the mercantile community, ''strongly endorse the Representations ma^e by the Toronto Board of Fire Underwr.ters, m reference to the necessity of better fire protection for our City. Robert McLean. Toronto, May 18. DuAPT Bill, Municipal Fiub Insurance. Whereas it is desirable that power should be given to Mtinicipalities to enab^Ithem to establish and provide ^or Municipal Bureaus of Fire Insur^^^^^^ to insure the ratepayers of such Municipalities against loss by fire, and to pro vide for, regulate and govern such Bureaus of Fire Insurance. Therefore Her Majesty, by and with the advice and consent of the Legis- lative Assembly of the Province of Ontario, enacts as follows : X. This Act may be cited a8 the Municipal Fire Insurance Act. SI c. \M 90 90 90 90 90 90 85 90 I 45 95 I 25 ) :iO 75 76 1 17i 2. The Municipal Council of every county, city or town, desirous of adopting the provisions of this Act, muy submit a By-law to the vote of the electors qualified to vote on money By-laws under the provisions of the Con- solidated Municipal Act, 1892, and amending Acts in that behalf, adopting the provisions of this Act, and for the establishment of a Bureau of Fire Insurance for such Municipality. n. The said Bureiu shall consist of three members to be called Fire Insurance Commissioners, two to be appointed by the Council of the Munici- pality, and the third by the Local Board of Trade. 4. Of the Commissioners appointed. as hereinbefore provided, one shal^ retire annually In rotation, and at the first meeting of the Commissioners, or so soon thereafter as possible, H shall be determined by lot which of them shall hold office for one, two or three years respectively, and the determination shall be entered as of record as i)art of the minutes of said meeting. 5. An appointment shall be made forthwith after the yxpiratlon of the term of office of any of iho said Commissioners, and shall be so made that the said Bureau shall always consist of three Commissioners, two being the appointees of Municipal Council, and one the appointee of the Local Board of Trade as aforesaid. In case of the death or resignation of a Commissioner a successor shall In like manner be appointed for the balance of such Commis- sioner's unexpired term. 6. Retiring Commissioners shall be eligible for reappointment, and shall hold office until their successors are appointed. 7. Commissioners appointed in any Municipality shall be a Corporation with all the powers mentioned and set forth in sub-section 25 of section 8 of " The Interpretation Act of Ontario," and their corporate name shall be The Municipal Bureau of Fire Insurance of (as the case may be). 8. The said Commissioners shall, at the commencement of each business year, and forthwith after the appointment of the Incoming Commissioner shall be made as aforesaid, elect a chairman from amongst themselves. 9. The Commissioners may from time to time appoint a Manager, Secre- tary, Treasurer, Solicitor, Inspectors and such other Officers, Agents and Assistants as to them seem necessary ; prescribe their duties ; fix their com- pensation, salary or allowance ; take such securlly from them as is required by this Act for the faithful performance of their duties, and remove them and appoint others in their stead ; the Commissioners may hold their meetings weekly, or oftener, if necessary, for transacting the business of the Bureau ; and they shall keep a record of their proceedings. 10. The Commissioners may fi'oui time to time make and prcscri.^ such By-laws as to them appear needful and proper respecting the funds and property of the said Bureau, th'j duty of the officers, servantB and assistants thereof, the effectual carryinpr out of the objects contemplated by this Act, and all other matters that appertain to the business of the Bureau, and are not contrary to law ; and may from time to time alter and amend the said By-laws. 11. The Commissioners shall superintend and have the management of the funds and property of the Bureau and of all matters relating' thereto and not otherwise provided for. 12. All moneys received by the Commissioners shall be forthwith deposited to the credit of the Bureau in a chartered bank, and shall only be withdrawn therefrom on the authority of the Commissioners and upon a fheque sig-ned by the Chairman, or one of the Commissioners acting as Chairman, the Trea- surer and Accountant of the Bureau. 13. The Commissioners may, in the name of the Bureau, invest the moneys and funds of the Buieau in any stock, debentures or other securities in Ahich trustees may invest trust money. 14. No Bureau shall contract with any commissioner or officer thereof for any loan, credit or borrowinjr of money ; and every such attempted loan, credit or' borrowing of money is hereby prohibited, and any contract in violation of this section shall be void. IB. Ea.h Commissioner shall give security to the satisfaction of the Trea surer of the Municipality in the sum of not lesstlnn !«^10,000 fur the faithlul discharge of his duties, and the Treasurer of the Furc:>n .i d any oti .n- (officers having charge of the moneys of the Bureau shal. ^.vn secia-ity to th« satisfac- tion ot the Commissioners in a sum not less than ^4,00C for the faithful dis- charge of their duties. 16. The Corrmisfiioners may by By-law fix and allow the remuneration to bo paM *o them, which remuneradon for the Chairman shall not, however, exceed thr mm of $5,000 per annum, and for the other Commissioners the sum of!|3,iXX>. 17. All buildings and erections within the limits of the Municipality and shown on the Assessment Roll of the Municipality, except as herein otherwise provided, shall be insured in the Municipal Bureau of Fire Insurance to the amount of two-thirds of their assessed value at such premium or rctte as shall be fixed by the Commissioners. (2) The Commissioners may, by By law, exclude from the opera- tion of this Act and refuse to insure buildings and erections of a hazardous nature or character. 18. The Commissioners ma;r pass By-laws regulating the storage of gun- powder, dynamite, oils and other dangerous or inflammable goods or materials. in I'J Tlu^ Commissioners ahall pass By-laws-- (1) Cla88ltyln{,' all buildings shown n the Aflsossmont Roll m to the probable risk in insuring the same, in which classillcation the use to which the building is put, as well as its construction, surroundingn and locality shall be considered. (2) Fixing the rate of percentage to be charged on the buihlings according to their clasriilicatlon. (3) Assessing the amount to be paid on all buildings for the Insurance thereof, according to the classillcatiou made and rate st ruck by the Commissioners. 20 The owners of all new buildings and buildings in course of erection, and which have not appeared on the Fire Insurant, Roll of th<^ Municipality, and of all buildings which have been improved or enlarged since the making of the then Fire Insurance Roll, may apply to the Bureau for insuranc, on such new buildings and for increased insurance on such improvements or en- largements, and the Commissioners shall forthwith ascertain tlie value of such buildings or of such improvements or enlargements, and shall classify such new buildings oi iniorovements according to the By-laws of the Bureau, charging the premium according to such classificaaon for insuring such luw buildings or improvements, which premiums shall be for the curr-nt term ot the then Fire Insurance Roll, and shall be forthwith paid by the insured, who shall be entitled to a receipt thenifor. 21 The Commissioners may insure on ap[.Iication business stock, mer- chandise, turniture and other contents of l.aldings, excepting, however the articles and effects mentioned in Sub-sections 6 and 7 of Section 114 of the Ontario Insurance Act, in such sums and at such rates as the Commisnionei^ deem advisable. The premium lor such insurance shall be forthwith paid and the insured entitled to a receipt therefor ; provided that no insurance etfected under this section shall exceed the sum of $10,000 on any one risk. 22. The Commissioners shall cause to be prepared a Fire Insurance Roll, in which they shall set down : (1) The names and surnames in full, with the addresses of the owners cf all property insurable hereunder, as shown by the current A'isessment Roll of the Municipality, and also the names and addresses of all parties to whom, by notice or assignment, losses are to be paid. (2) The description and extent or amount of insured property assessed against each, as shown by said Assessment Roll. f^\ Th" oi«««ifi ration and rating made by the Commissioners of the property for Fiie Insurance purposes. fi4 ;4) The amount of premium charged for insurance of the property according to such classification and rating. 23 Such Fire Insurance Roll shall be delivered to the Clerk of the Munici- pality on or before the Slst day of December in each year. 24 The Council of the Municipality shall levy and collect upon the insured property wHhin the Municipality in the manner provided in the Municipal ax'd Assessment Acts the amounts or premiums chargeable agamst said insured properties, as shown by the said Fire Insurance Roll. 25 The Clerk of every Municipality, in annually making out the Collec- tor's Roll, shall place columns therein so that under the head of Fire Insurance R^te the amounts charged for Fire Insurance may be distinguishe^d from the !etral taxes, school and other rates, and the proceeds of any such Fxre Insur- Lce Rate shkll be kept distinguished by the Collector and accounted for accordingly. 26 The Council of the Municipality shall not allow any discounts on the payment of such insurance rates, but the same shall be collected in full without rebate or deduction. 27 In case of insurance rates remaining unpaid after the day appointed for the payment of the taxes of the Municipality, all additional percentages or charges m'de on the general taxes or other rates of the Municipality shall be charged on such insurance rates. 28 All insurance rates shown on said Fire Insurance Roll, with any addi- tional percentages or charges thereon levied and collected by the Counci of he Municipalitv, shall be paid by the Municipal Council to the Bureau on the Lrtday of ever^ month, or in such instalments as the Commissioners may desire. 29 On the institution of a Bureau in any Municipality all owners of nropertv otherwise insurable under this Act, which may be under insurance TaMre Insurance Company, may furnish the Bureau .ith a list of th^r properties showing the amount of insurance effected and the names of the rompanies carrying such insurance with a request that such property be not then insured in the Bureau. (1) On receiving such list, accompanied with such information, the Commissioners shall not insure such properties until the expiration of such existing insurance, when the said properties «hall forthwith become insurable hereunder ; provided, however, that such list shall be given to the Bureau within one month after the institution ■ thereof, and that all properties whatever, notwithstanding anything in this section to the contrary, shall, on the expiration of two years after the institution of the Bureau, be insurable therein as m this Act provided. i '^5 RO. The Commissioners simll havB ,,„w.,,- u. »«n„n.,n and >^^^^''- " > " „.,«os „„ oa.h on all raattors eonucofd with ,.h» ,.ff.,.,s„al earn n.s out „ h» "h ;. .r?o this A.-,t and all olher matters appertaining to the Imsttu-ss ol the Ba e a a. d the adnunlscration of their duties, and they shall have the same poTr to enforce the attendat.ce of such witnesses and to compel the,, to g. ve ev den e as is vested in any court of law in civil cases. A „ol.o« to attend blfei-r-h tfcon-missiouers shall be sufficient, 1, .igned by the Chatrmau or any of theCommissionors. •U A majority of the Commissioners shall consiitute a qiionim, and tne acts of "the maloriry shall he considered ac^s of the whole. 32. All meetings of the Commissioners shall be open to the press Tand puhlic unless otherwise decided by them. 33 All Bv laws of the Bureau shrill be sufnciently authenticated by being sio-nedbv the Chairman of the Bureau which passes the same ; and a copy of 'uch bvlaw written or printed and certified to be a true copy by any one of the Commissioners shall be deemed authentic and be received as pnma facte evidence in any court of justice without proof of such signature. R4 In all cases where the Commissioners are authorized to make by-laws thev'shall have the power in and by such By-laws to attach penalties tor the nfrtction thereof to b.. recovered and enforced by summary proceedings, b^fo^^^^^^^^^^^^^ J^^ti^« °f ^^^' ^'^'' ^"^'^"^ .jurisdiction in thl lulipal^ are passed in the manner and to the same ex nt i^ By laws of the City Councils may be enforced under the authority of the Consolidated Municipal Act, and the convections m such pio- ceediags may be in the forms in the said Act set forth. 35 All Bv-laws of the Bureau relating to matters over which such Bureau may have jurisdiction shall supersede all Bylaws conflicting therewith which raaV be passed by the Council of the Local Municipality. "^ 36 The members of the Fire Brigade of the Muiucipality shall be appointed by and hold their offices at the pleasure of the Commissioners and be subject to their lawful regulations, and the Commissioners sh^U have the control, ordering and management of the fire halls and hre brigade equip- ments. 37 The Municipal Council shall appropriate and pay such remuneration «)r and to the respective members of the fire brigade as may be required by The Commissioners, and shall provide and pay for all such buildings, signal boxes clothing, reels, engines, horses, equipments and other necessaries as the Commissioners may from time to time deem requisite. 38 The Commissioners shall apply in part payment of the costs of the maintenance and equipment of the Fire Brigade such an amount of u>e ^r"-5"ms to bt^. received by them as they may deem advisable. 2(5 119. The Mui.icipal Council shall establish and inaiutaiu water hydrants on all streets, squares and public places at such places as the Commissioners may by By-law require. 10. The Commissioners shall from time to time advise and confer with the Municipal Council upon all matters relating to the erection of buildings and the establishment of fire limits. 41. The Commissioners shall prepare, at the end of each year of the oper- ation of the Bureau, a statement of the condition and affairs of the Bureau up to such time, exhibiting its assets, liabilities, receipts and expenditures, such statement to be deposited in the office of the Clerk of the Municipality, and be accompanied by the affidavits of the Commissioners that they have each, individually, verified the correctness of the said statement, and that the same is a full and correct exhibit of all the assets and liabilities and of the income and expenditure of the said Bureau and of the general condition and affairs of the said Bureau for the year then ending. 42. The Commissioners shall cause the books, vouchers and papers of the Bureau to be open for the insprction and supervision of the auditors oi the Council, and shall do all in their power to facilitate such inspection, and the said auditors shall, at least once in each month, audit the books of such Bureau and report each audit to the Council as soon as completed. 4:3, The Commissioners and their officers shall have like i)rotection in the exercise of their resp'.^ctive offices and the execution of their duties as Justices of the Peace now have under the laws of this Province, and the Inspectors and other Officers of the Bureau when in the discharge of their duties shall be ex officio possessed of all the powers and authority of constables. 44. Every action against the Bureau for the partial or total loss of any insured property shall be brought within six months after the loss occurs, or otherwise the claim therefore shall be absolutely barred. 45. Two or more Municipalities may by concurrent By-laws, which shall b3 submitted to the vote of the ratepayers, unite their respective Municipalities into a district for Fire Insurance purposes, and any such Municipality may withdraw from the district after a By-law for such withdrawal has been adopted by the ratepayers of the Municipality on application to the Lieute- nant Governor in Council and on such terms as shall on such application be imposed. 46. The members of the district Municipal Bureau of Fire Insurance shall consist of two Commissioners for each several Municipality, one to Vc. appointed by the Municipal Council and one by the Board of Trade of each several Municipality included in the district. 47. The CominisHoners appointed by each Municipality shall prepare the 27 yearly Fire Insurance Roll for such Municipality as hereinbefore provided, aiul have the conduct of all the business of the Bureau relating to the Municipality represented by them. Provided that all such actions and pro- ceedings and business shall be submitted to the supervision of and endorsed bv the Commissioners for the whole district. All Fire Insurance Rolls shall be submitted to the supervision of and endorsed by the Commissioners for the whole district, who shall equalize all classifications and ratings according to the respective insurable risk of the insured properties in the several Munici- palities. 48. All rates for insurance in each Municipality shall be collected by the Council of such Municipality, in the manner hereinbefore i)rovided. 49. The sums received from the various Municipalities of the district, whether for insurance rates or for the sstablishment and maintenance of the Fire Brigade and appliances, shall be kept separate and distinct, and shall be placed by the said District Commissioners to the credit of the Municipality paying the same. 50. *11 fire losses, so soon as the same shall be adjusted, ascertained and accepted by the District Commissioners, shall be paid as follows : Fifty per cent, of such loss to be paid out of the funds of the Municipality in which the loss has occurred, and the balance out of the funds of the other Municipalities in the district, which balance- shall be leviec' on such funds rateably according to the amount of insurance the last mentioned Municipalities shall carry in the District Bureau ; or in such other manner as the District Commissioners shall by By-law, to be approved of by the Inspector of Insurance, adopt. ,51. Every District Bureau shall have the same powers, be subject to the same regulations and perform like duties as a local Bureau, except as above provided. 52. In Municipalities where there may be no Board of Trade, all Commis- sioners shall be apjiointed by the Municipal Council. 53. The provisions of Section 114 of the Ontario Insurance Act, except when inconsistent with this Act, shall apply to all insurance effected under this Act, and bo binding on the insured. 64. Where a Solicitor or Counsel is employed by the Bureau, whose remu- neration is wholly or partly by salary, annual or otherwise, the Bureau shall notwithstanding have the right to recover and collect lawful costs in all actions and proceedings in the same manner as if the Solicitor or Counsel was not receiving a salary, when the costs are, bv the terms of his employment, payable to the Solicitor or Counsel as part of his remuneratioa in addition to his salary. 55. In the event of a majority of the ratepayers voting in favor of the establishment of a Municipal Bureau of Firo Insurance, the Municipal Coun- ,4 28 cil of the Municipality shall issue debentures to an amount to be fixed by the Inspector of Insurance for Ontario ; and in the case of cities having a popu- lation of over one hundred thousand, to the amount of $1,000,000, and no By-law for the issue of such debentures shall require lo bo submitted to a vote of the ratepayers before the final passing thereof, anything in the Con- solidated Municipal Ac. and amendments thereto or any other Acts notwith- standing. All such debentures shall be transferred to the Commissioners and shall be utilized by them in forming a rest fund for the Bureau. 56. The Bureau shall be chargeable with and shall pay all interest on the said debentures. r K\