The New York herald., 1850-05-15
Our Trenton Correspondence.
ihfNIoN' ~ - Way 10 iooo
More FinGneiering Trenton Insurance Cospsay.

TRENTON. N. j., May ~ 1900.
More FiGneiering Trenton Insurance Company.
New Jersey is peculiarly happy in having number
Of excellent corporations Of various characters and
descriptions. many of which are conducted in a man.
ncr that would reject credit any State But happy"
is no; the term to apply in relation to all the compa
mics which have been chartered by Legislature,
in melancholy testimony Of which, can but too
dy refer you 10 the recen. cavipg in" Of the Plain
field and Morris Banks, the New Hope and Delaware
Bridge Company. aud the Somerve Fire Insurance.
Company. Others might be enumerated in the same
catcgory but as their names are doubtless familiar to
your numerous readers will not recaplt ulatc.
But what ] desire TO speak Of at present, IL the
" Trenton Mutual Life and Fire Insurance Company
lhis company was chartered few years ago when ~
was expected that II was only intended Go serve local
purpose For some time. it, affairs were conducted in
proper manner; but of late it has fallen into bad
lard, and much fear that the result will be- fraught
with great loss and disappointment to many who have
insured In IL.
10 give you an insight into It's modes Of business,
and the fnaBciCring abilities Of its m1naycrs will
suhjoin n few rtmRrks, which. by publishing you will
confer much benefit ou the community at large A
few Of the stockholders DESTROYS OF extending thcr bu
sncs tran actions and at the time To their
own ends. accomplished both matters by the follow
ing mCtEodSevora fog hnanciers Of this city (bcing
then. ns nov. fupree controllers Of the company de-
tcrmincd TO rte Il Fuarantec capital of yl@oE. IL
done aud thus Que had unincumbered property To
the am mou. of about 81 IS COO On this he gave.
mortgage 10 the company for forty thousand dollars!
Another had rrincuubrrcd property worth, think,
not over - and yet he bad the to give
uuou IL mortgage .gr thirty thousand dollars Other
CugrautOrtD acted cNcn more rascaly. but not on
quite o. extensive scale. Thus II has been st1Fn.
tat those individuals took $50 0oo-ncariy half of
the clpital' and gave a. security not NOR than
fH 90 nt thc outside: aud received at the Of
Trr ,sI; rer Rnuum fr the use OF their mortgages.
Had tl- spal been legal the above named inalcicrs
vtIc cheating t.ir brother tockhodcrs out OF 80 GO
O. year. hut 10 altogether Illegal tho amount
f'lhfd was Si2y0 year. Ey the way. none Of the
Nor gc. alluded 60 recorded. and the capital
even had been lawful il would thus have bccn
voftllcss.
some person OF pcr.ons In your city. asccTtaining
tlttc facts NIttc the tomptrolcr II tho state o!
New crk giving him the truths Of the ease There
were two points al issuo;-lst Was thc guarantee
capital" icgl, ~ u legal. was IL real! negative
rrspousc was given 30 both queries.
The men above named. finding thrmaclYes In guam
Diary pndeayCrcd O. crawl out of Il In the Dllow.ng
main,r. They persuaded n number of respectable mon
r Trenton become gunrautOrs and then onitnvOred
10 persuade the Legislature To give the company the
privilege of trading urou the guarantee capital liu-
man rnturc = weak. and f-w men resist the
ton ,ation n ~ pr cent when ~ Is offered But the
ie fr drPari NJ did not perform IT. share OF thr
On iurss and absolutely refused e. grant what tho
crrrrnny desired. aud to this day. ths company
siru wherein st. managers authorized % deprive
itr srr ~ older- ot SgNln year. Ia the application
o. tie icei lature fhlics" was asked that uo stock
holder. Iut those Who were guarautpr4 could bs cu-
ti.d Or vote Tor tflccrs of The company .!
tOirvrh fur The tuauci for ~" finances. Nv
report made 20 the late Legislature the company bad
cat ia. % the unit 81 two milions rix huu
Crrf III uutatl dflara. .S2tO0Otp1 q meet which. r.
tft SOS CSC 90 according O. itt own showing. That
b. one dollar of assets for every seventy q rsks Ra
tftr rf ~ husiucss. even tor honest 20 De at
i,ti.r tie company really had thirty-eight thou
Inrd dtars ct HNaiahic asscts. ought 90 Dc lcttct
Ifruu Go tho stus khullers than myself But 7 Duy
faary ttLtrs csun,t believe that ths company hal
,t. .f the above conrarntiyely paltry amount
yu rot o. sra,s further on your time and paicrc
% ile rr,ent times bat may. In future cn,amunoa-
.u. cDu uuc thr srhirrt :. Il.