p.2 The Ontario Marine & Fire Insurance Company - The Ontario Marine & Fire Insurance Company is about to wind up its affairs. The stockholders, at a meeting held on the 12th instant, were impelled to this conclusion by the involved state of the Company's finances. The amount of subscribed capital is 46,525 pounds, on which 20 per cent has been paid up, and a further call of 5 per cent is payable on the 12th March. The losses incurred are equal to 65 per cent of the subscribed capital, if we include 5,384 pounds of disputed claims. By the Company's charter, the stockholders can only be compelled to pay the stock up in calls of 5 per cent every six months. Parties insured who have claims against the company will therefore have to wait for nearly four and a half years before their claims can be settled in full, unless some action of the legislature or the Court of Chancery should compel a more rapid payment of the calls. So far back as December last the Company ceased to take risks. In the interval, attempts have been made to resuscitate it,but having proved unavailing, it has been found necessary to wind up its affairs. Parties insured in this Company will need to re-insure elsewhere. [Toronto Leader]
A Committee of the Buffalo Board of Trade appointed to investigate the subject, report that one million of dollars will not, in their opinion, cover the total damage sustained by the Western Lake Commerce, in 1854, from the unnavigable condition of the St. Clair Flats.
ad - For Sale - The first class Schooner John Hiseman, now lying at Kingston. Apply to Adam H. Meyers, Trenton, or to the Subscriber.
Kingston, 1st March, 1855 C.S. Ross.