² For Table of Agricult
privilege was extended two years, March 29, 1799, to enable
Nicholas J. Roseveit to complete experiments. By act passed
in 1798, Robert R. Livingston and Robert Fulton secured the
exclusive right of navigating by steam for a period of twenty
years; and by an act passed April 11,1808, an extension of five
years was granted for each new boat—the whole time, however,
not to exceed thirty years. This monopoly was contested in
tfie State and Federal Courts, in a suit begun in 1819, and
finally decided in the Supreme Court of the U. S. in Feb. 1824,
as repugnant to the Constitution, which authorizes Congress to
regulate commerce., So far as these acts prohibited vessels
licensed by the laws of the United States from carrying on a
coasting trade, they were void.—Johnson’s Reports, IY, 148;
Cowen’s Reports, III, 713; Wheaton’s Reports, IX, 1.    *

³ These companies report annually to the Comptroller. A list
of them is given in the general list of Insurance Companies.

* These companies were formerly created by special acts,

■—generally for periods of 20, 21, or 30 years. Until about 1834
they were almost invariably upon the joint stock pri nciple. For
many years this class of investments was considered extremely
reliable, and large dividends were often paid to the stock¬
holders. The great fire in New York in'Dec. 1835, proved a
heavy disaster to almost all the Insurance companies then
formed, and many of them were prostrated by it. This event
soon led to the formation of Mutual Insurance Companies in
almost every county in the State: most of these companies have
since become insolvent. A graphic and truthful statement of
the operations that ruined these companies is given in the Comp¬
troller's Report on Fire Insurance Cos. of 1854. A general law,
passed April 10, 1849, provided for the incorporation of these
companies, under which risks of every kind might be taken.
The frauds perpetrated under this system rendered a revision
indispensable; and in 1853 two general laws were enacted,—one
for the formation of companies for insurance of life and health,
and the other against loss by fire, or inland navigation, and
transportation. The articles of association (under the law of
1849, required to be filed in the Secretary’s office) were, by

Insurance Companies in the

those acts, filed in the Comptroller’s olfiee, and general powers
were conferred upon the Comptroller, with the view of protecting
the public from any frauds that might be attempted, and te
secure the-equal and uniform operation, of the laws relating to
insurance. Annual reports are made to the Comptroller, and by
him to the Legislature, under each of these laws. Marine In¬
surance companies are still filed in the Secretary’s office, but
are required to make no report.

Insurance companies formed under the laws of other States
or countries cannot establish agencies in this State without
first depositing with the Comptroller a certified copy of their
charters, and of the vote or resolution creating the agency', a
statement of their condition, and proof that their capital is
equal to that required by the laws of this State, and, if a
Life-Insurance company, securities to the amount of $100,000,
for the benefit of policy holders. Foreign Marine Insurance
companies are required to pay 2 per cent, upon all premiums
received by any agent; and a bond in the penal sum of $1,000
is required of every agent of such companies for the pay¬
ment of this tax. This tax was first collected in 1858, and
amounted to $3,742.55. Several companies are not required to
report their statistics to the Legislature. The aggregate reports
of Fire Insurance Companies for 1857 show the following
results:—

Capital invested...................................$16,731,010.00

Cash premiums received......................  6,051,304.87

Gross amount of income........................ 7,577,872.62

Losses paid..................   2.898,166.11

Dividends paid..............   2,240,434.72

Taxes paid........................................... 243,062.79

Gross expenditures............................... 6,855,953.88

Unpaid claims..................................... 968,683.00

The following tables comprise the companies which have
been incorporated under special acts or the general laws of tho
State. Foreign companies authorized to transact business in
the State are not included in the list:—

Hate on ls£ day of Jan. 1858.

Name.

iEtna Fire Insurance Co. of New York.®.............

Adriatic Fire Insurance Co................................

Asrrto.iltural Mutual Insurance Co.⁴...................

Albany Insurance Co.⁰......................................

American Fire Insurance Co..............................

Arctic Fire Insurance Co...................................

As tor Fire Insurance Co....................................

Astor Mutual Insurance Co...............................

Atlantic Fire Insurance Co................................

Atlantic Mutual Insurance Co...........................

Bcekman Fire Insurance Co..............................

Brevoort Fire Insurance Co...............................

Broadway Insurance Co....................................

Brooklyn Fire Insurance Co..............................

Chautauqua County Mutual Insurance Co...........

Citizens’ F’ire Insurance Co.^d..............................

City Fire Insurance Co......................................

° Reorganized Feb. 12,1836, under act of Feb 12, 1836.

* Removed from Evans Mills April 10, 1855.

⁰ Reorganized Feb. 18. 1851. Capital. $100,000. Originally
Albany Fire Insurance Co. Capital, $100,000, and allowed to

take fire, marine, and life risks. Once extended. Expired
June 1,1851.

i Changed to Citizens’ Fire Insurance Co. April 5,1849.