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24 MARINE REVIEW AND MARINE RECORD. NEW TYPE OF BOILER. Mr. R. McKay of McKay & Sons, boiler makers, Quebec, has invented a boiler which is, in the repute of those who have seen it, a decidedly original effort and of much merit in cases where economy of space is desired. The boiler has already been patented in this country and some of the European countries. 'The claims for merit in this boiler are: Economy of fuel as the fire has very much more heating surface to act on than in probably any other upright boiler made; it is practically two ( 5 es u@-0-0-0 0 0.0 0.0:0:'0'0 6:0 b q@ooo000 000000 70.0 0.0.0 6.00660 00-6 9000000000000 fh [Mar. 26, ~ to top head of main boiler and through which water tubes pass; 5 are draft tubes from bottom head of steam dome to top head of same; the arrows show the passage of fire from grate bars to smokestack. STABILITY OF INSURANCE--GERMAN COMPANIES. A short time ago the Review had an inquiry regarding the stability of German insurance companies doing business on the great lakes. 'The inquiry came from a vessel owner who evi- The McKay Type of Boiler. -boilers in one and the fire impinges on the tube surfaces stronger than under ordinary circumstances; the power that can be de- veloped per square foot of floor space and to be greater by far than in any boiler yet built--no small item, says Mr. McKay. The rapidity with which steam can be raised makes the boiler valuable for fire engines, launches, automobiles, traction engines, and in any plant where steam is required quickly for general use, or as a reserve plant when other sources fail, such as water power or electricity. _ The accompanying illustrations show the design of the boil- er quite clearly. I. is a band to form outside of combustion G0 20% 020° o8 a2 Oo -@)- 0 -@- oO @5 2200 O c Oc@- o Loo oo 35060 6 2 O 2@ 5060S a ©, @) The McKay Boiler. chamber; 2are water tubes screwed into bottom head of steam dome and passing down through fire tubes (4) in main boil- er; 3 are pipes screwed into top head of main boiler and fit- 'ted with a nut on each side of bottom head of steam dome to connect main boiler with; 4 are fire tubes from furnace head dently contemplated some business of a liability kind with the German company known as the Frankfort Marine Accident & _Plate Glass Insurance Co., whose lake business is conducted by one of the Chicago vessel and insurance agencies, as special reference was made to that company. 'The trustees of this com- pany in the United States are Stuyvesant Fish, president of the . [ineis Central Railroad, Richard Dalafield, president of the National Park Bank of New York, and KE. Thalmann of Laden- burg, Thalmann & Co., New York bankers. A request to one of the representatives of the company for information regarding its standing brings all kinds of assurances as to assets and as to the substantial business which the company has been con- ducting for years, but the interesting part of the letter is a statement of the great care exercised by the German govern- ment in all'matters of insurance. He says: "No German insurance company has ever failed in the his- tory of the empire. The German government itself conducts an immense insurance business and through the imperial chancellor of insurance exercises a rigorous and sleepless control over its rivals, the insurance companies. The chancellor's department examines all insurance companies semi-annually, and this in no friendly manner. Unhappy would be the lot of the corporation whose finances were not on the firmest foundations or whose assets were not of the choicest, gilt-edged securities. No stock investments of any description are permitted by these companies --nothing but the best bonds and only those paying interest of 4 per cent. and under that figure. Bonds paying a higher rate than 4 per cent. are regarded as speculative and are not favored by the examiners. Under the laws of Germany, stockholders in insurance companies are individually liable for corporation indebtedness to the full extent of their assets. Should the com- pany's assets fail to balance its liabilities, to provide for the im- mediate realization of atty sums necessary to meet sudden or ex- traordinary demands upon corporation's resources occasioned by any calamity, the stockholder is required to deposit in the treasury demand notes for double the amount of his cash invest- ment for stock. 'These notes must bear two responsible endorse- ments. This discourages any but the wealthy from investing in insurance stocks and gives to the insurance companies not only the advantage of such a condition together with assets amounting to practically double their entire capitalization, and behind that again stand the private fortunes of the entire body of stockholders. 'The actual available assets of a German insur- ance company are thus made practically unlimited. "These onerous conditions necessarily 'impose extreme conservatism in the conduct of business, the most careful selec-