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The Daily Dispatch: December 21, 1861., [Electronic resource] 1 1 Browse Search
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The Daily Dispatch: December 21, 1861., [Electronic resource], The late fire in Charleston--L and Insurance. (search)
The late fire in Charleston--L and Insurance. The disaster of the 11th and 18th of December, at Charleston, S. C., continues to be the all-absorbing topic of conversation in that city. The wild guesses as to the amount of property destroyed which were at first prevalent have given way before close and cool calculation, and we are now able to present some reasonable views of the amount of losses and insurance. It is estimated that the loss in Real Estate is about $3,500,000. On this there was insurance for about $1,500,000, of which sum the local companies have borne the chief burden, holding policies to the extent of about $1,200,000, as follows: Charleston Insurance and Trust Co.$545,000 South Carolina Insurance Co.300,000 Fireman's Insurance Co.260,000 Elmore Insurance Co.65,000 $1,170,000 These amounts will swallow up the capital stocks and surplus of each of the three first-named institutions. Add to these liabilities the unearned premiums on the rem