The Maritime History of the Great Lakes
Oswego Commercial Times (Oswego, NY), March 19, 1849


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The Lake is open, (it has not been closed,) the harbor and river are open, the ice banks are fast disappearing from the pier and beach. the hum of preparation is heard at the docks, the vessels and the ship-yards, giving promise of the speedy resumption of business on the Lake.

In a few days, the hundred vessels in our harbor will be spreading their wings to the breeze and careening over the blue waves to the distant ports of Wisconsin and Michigan, to return laden with the produce of the fertile West.

It becomes those who thus venture their property on the deceitful waters, to say that it is well insured. But a few years since, Marine Insurance on the Lakes was almost unknown. Now he is esteemed an unsafe merchant, who commits his property to the hazards of Lake navigation without the protection of a policy.

This inland navigation insurance has become an extensive and systematic business, and the gentlemen engaged in underwriting, having by experience learned all the nooks and corners and dangerous places along these waters, ae able to make pretty close calculations and graduate the premium to the risk with great exactness. Our citizens are well supplied with facilities for insurance.

Several foreign companies, the Howard, the Aetna, the Columbus, the Buffalo Mutual, and some other Companies have agencies here, and at the head stands our own old North Western, which has acquired, by its excellent management and its prompt and honorable course, a character of stability and safety, which entitles it to the patronage and confidence of our citizens and all who do business on the waters.

This Company was chartered in 1832 with a capital of $150,000, which was paid in and securely invested before the Company went into operation. It still remains invested. Its Directors are among our most judicious, safe and enterprising business men. The Company has always made good dividends, the last two years twenty percent per annum, and this too altho' the losses paid during this time have been much heavier than ever before.

It has agencies at all the principal points on the Lakes and Canal, and we doubt not, would be glad of the chance to help the unfortunate victims of the storm and tempest, by sharing their misfortunes.

_____________

Port of Oswego

Cleared - March 29

Schooner Mexico, Tyler, South Bay


Media Type:
Text
Newspaper
Item Type:
Clippings
Date of Original:
March 19, 1849
Local identifier:
GLN.5175
Language of Item:
English
Donor:
Richard Palmer
Copyright Statement:
Public domain: Copyright has expired according to the applicable Canadian or American laws. No restrictions on use.
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Oswego Commercial Times (Oswego, NY), March 19, 1849