|
| Insurance Index | |||
|
|
The American Insurance Company building stands 326 feet tall with 16 floors. The neo-classicism style building has a rigid steel frame with a facade of light brown brick appied masonry. From: "Industries of New Jersey: 1882 The American Insurance Company occupies a prominent position among the leading fire insurance companies of the United States and affords that protection and security against loss by fire guaranteed only by the most reliable organizations of this character. It was incorporated in 1846, the charter being perpetual, and from that time has always enjoyed the confidence of the community and the merchants and others of various sections of the country where it has established agencies. It is one of the oldest and also one of the strongest companies in the country. Under its able management the Company has pursued a course of pronounced thrift, when in 1863 the assets were but $331,854, and in 1882 increased to $1,538,378, being the largest of any fire insurance company in the State. The officers and directors are among the most substantial businessmen of Newark, and include as chief executive, Stephen G. Gould; vice-president, Elias O. Doremus; Fred. H. Harris, secretary, and besides the above — Lewis C. Grover, executive counsel Mutual Life Insurance Co. ; David Campbell, tobacco manufacturer; Thomas B. Peddie of the firm of T. B. Peddie & Co., trunk manufacturers; Charles H. Lighthipe, president of the Orange National Bank; Jeremiah Baker, of Madison, N. J.; Henry C. Howell, of T. P. Howell & Co., leather manufacturers; Edward G. Faitoute, of E. G. Faitoute & Co., coal merchants, and William Clark, of the Clark Thread Co., as the Board of Directors. The business of the American Insurance Company is among the heaviest
of any company in the State, a circumstance showing in the most expressive
language the degree of confidence in the ability of its management. The
building of the Company on Broad Street is a magnificent stone structure
four stories in height and is one of the most imposing edifices on that
thoroughfare. From: "Newark, the City of Industry" Published by the Newark Board of Trade 1912 The American Insurance Company of Newark, with its modern white stone building occupying a prominent location of Park Place near the new subway station, was organized and began business in 1846, confining its operations to the State of New Jersey until 1873, when it gradually enlarged its borders and laid the foundation for its present extensive agencies, which cover nearly every State in the Union. At the present time more than 5000 loyal agents are writing American policies and contributing to the company's success. The company insures against loss by fire, lightning, tornado, windstorm, and is about to add automobile;and now, in its 67th year, is better prepared than at any previous time to meet demands upon its resources. The American, by resolution of the Board of Directors, pays all loss claims in cash immediately upon satisfactory adjustment, waiving the 60 days' discount provided for in the standard policy. This company possesses to a marked degree the characteristics most essential to a reliable fire insurance company, viz: stability, integrity and permanency. It is among the first in rank among large, strong and important fire insurance companies of the world. From: Rider's Newark 1916 Facing Military Park, at the corner of Park Street and Park Place is the American Insurance Building, containing at the entrance a pair of bronze doors, modeled by Andrew O'Connor, Jr. The male figure on the right door represents Fire Under Control, here used as a torch to guide the footsteps of men; the female figure on the left upholding flowers and scattering others, symbolizes the up springing of new life after the devastation by fire.
|
||
 |
Copyright 1998 - 2024 Glenn G. Geisheimer |
