The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-28
WALL STREET TROUBLES.
Suspension OF the Morris In
surance Company.
An Injunction Served Upon It's
Officers.
Statement Of Assets and Liabilities on the
LIST Of January Last.
"a. ke. IL.

II has been but very short time since tho failure d
tho Columbian Marinc Insurance Company. This event
occurred on tho I'D Of January Last Yesterday aior
noon the suspension Of the Morris Fro and Inland
Insurance Company, located at 81 Pine street, was
reported In Wall street. and upon tracing the rumos
10 the ofico OF the corporation IL was dzoovorcd
10 have a foundation In fact Hon. william barnes.
Superintendent OF the Stale Insurance Department,
lately reported To the Attorney General that In his
opinion tho condition OF the aas Of The company would
warrant ia longer continuance IN business, and no
therefore applied for the dissolution Of tho corporation
II yesterday expected that the company would noe
contest In any manner oppose tho application An
effort being made by the parties Interested to have
Mr. sansbury who assumed the presidency Of tho Morris
Company in December last appointed receiver.
Az isJuscrios
served upon the directory Of tho Corporation zee
terday afternoon by Deputy Attorney General IL
Hammond, upon application made before Judge q. q.
barnard Of supreme Court and the insurance ocers
and Immediately suspended all business operations
and proceeded for the promp, settlement q
their affairs. The receiver will undoubtedly be de-
sigua,cd during to-day. and tho legal creditors
Of the company viii thorea'tsr COM
mcnce To recsivs their return premiums Mean
while policy bolder who desire 10 bo made fully
secure In tho % iuA by nre Occurring would 10
well to rrinsurc ia other stable and we'll known
establishment There plenty Of thcm Ia the city.
advice which the officers Of tie Morris Company
would undoubtedly urnish " applied o. Tor infotmailon
on tho subject, though they anticipated An eafy
resumption 81 their own business
STATE OF TIM yrSascrs OK rHg riHEr or JAsu.
Any.
The authorized capital u the Morris Fire and Inland
Insurnce Company s. 900 600 aud the nr., day
capital q 700 900 TOE folowiug brief statement of
~ finances printed ~ an omrnt ~ tho hos
ton True ~ ind tho date Of January J. isoo--
"A sFHTrf
o. 10 30 percent gold bond- mkt valuel ssIs,t1 -
Z. 80 Treasury notes market HsneL Hea2 %
200 Wisconsin war bonds market yalael. 40 90
Cash % on premlpns written at The once. ssoos 70
Interest rrurd aud due............... 10, ia -
Amount u all other Investments. $50 %
LIABILITIES
Amour, Of Losses claim q aud unpaid, no, ys,
The company had branch once in boston ~hera son-
siderable business was bving daily transacted. Ih"f
agent was Joseph Morrison, resident difector
oYViogRr AND pIHscToRs.
Originally the Presiden, Of tho company vas Mr. Benz
g Morris ~ this CITY. who vas siso one u the orsna-
tcu and ON en- of the Columbian Marine Insurance
COMPANY " A. stAnsbary the pfes-nt
| tive, sacci cdnd Mr. Morris somr thres months
pino. when the Arars Of the corporation
IN too bad condon 70 ~ surr--sfany rvtaifrd Nj.
sanabury formerly the Wee President u The Metro
po'',aa c,ni s, 'Ia Ksi,, ss ~" rrs..a~ "A
81 the Morris Company, formerly hecfsi-ry q tho
Monank Company snd aiso has the reputation Of esns
Il
ADD aire Of tho Morris COMPANY a. u s.'od ~ 10
| vest rday ,-Drociors-Ed~ard Rose, Aiien q. 10.
| George Min. G no,rs, Robert BforDe, Ezra sl.,
| John ~ late Eawxd bates Jotslh NORTON, Will
| liam Maokay n G. Morris Jf Dante ". Teller, Hrhfy
Cainrnan. \ n Derrick, Charles Hiskor A suns
| bury Precedent, A " Rrby, We President, "
| ThotgAs, secretary g. HAr-ooi, GcHsrL Agent
| HISTORY 90 rny cosrAsV.
The Morris Flr. and Inland Insaranca Company has
bot bref history among the nnan iAl nstio,on ~
New Y0rk having besb la erisencs only Aopt sghis~a
months A previously stated. ~ss ofis natsd By Mr.
Is G Morris, whose u took. and sho~s fortunes
were IN MEASURE Joined with a. Up a. set kcgtsular
the Columbian and Morris oDmp~nss-ons 10 The nsfns
Interest and the other the IRE and inland bsoota-
pied the ofhoss and managed ~ The
SANE men IA ofncers though they ssnsrsy con-
sifercd SEPARATE aud dlstset nsiitstions Ths on
GERS Of the Morris Company u alleged net tbs dsAs
whrh bA< ovcrtaken them by 100 reckless and n
| discriminate style u ibsgrns Tbsy ran very lsfs
risks hoping for communicable ptvnu bot sefs eos-
fronIrd ~ the very opposite tsr sven mouths
tLsy DID business fcytins Up BsSiy hall .
million u dollars, bat is&t fall they vsfe sn-
| lacky IN usestEs ysry h~ssy eAsmiues,
and lhess poftiona % ths ro<k uD-pn uhsh usy
nnnfy -tt !. bat jus,sos ssy that sf,ss NJ ttsns
bury assumed helm The craft sis~ssd nafs
fully, but she badiy onppoi b~for~ hs Si,sns
20 b. saved By NE b<~t sbls COMMANDER II 10
not anticipated he sctaAi loss ~i ptyss
yrry lssrs and pos dc thai within ssor Tine ne
oomp~Iy may b. able 10 rc~sms cpersiiona