The weekly Butte record., 1867-11-16
Insurance.
From the Spectator Of Isl Novenber.l ]

There is a smart fgh. raging Just now between
the insurance companies-that Is, between some
twelve or fourteen companies combined on the one
side. and the Builders Insurance Company on the
other The quarrel is very pretty one as it
stands and We don't care to NEEDLE much with it.
leans 10 the weaker side, and in this instance We
feel somewhat as if q dozen great big dogs were
trying TO eat up one little one.
II seems from all the facts pnt before the public
that up to about twelve months ago the dozen eom-
panies that then existed in our city went on low
lngiy together-had everything pretty much their
own way. The goose hung high, and SO hungsn-
surance rates; big dividends realized. and
big insurance castles were built and the directors
aud officers swelled cut into larger than usual pro-
portions. This was the happy condition of things
when Mr.. Mooney began his Builders Insurance
Company. based, as he tells US on the association
and capital of a bundle Of mechanics. This capital
at rst was small but il grew with his growth and
strengthened with his strength. There nothing
remarkable in this and it appeared that the builders
became very popular, the people insured with them
their name became household word, and the in
sigma OF their association was to be seen over
nearly every second or third house in the city
Then it became apparent TO the twelve in combina-
ton that the " Builders = was an iegitimate,T =
" dangerous concern, and must be put down. 1t
was charged against the Builders that it brot
down the prices that it insured poor mems hous
es: that il paid its losses promptly that it did
cap the climax, that the many ineendiary fires.
which Of late have happened in this city were caus
ed py the prompt payment " no lawsuit policy
OF the Bgders.'
Now, this was not to be endured. and as champi-
ons for the poor deluded public the war began.
Writers were employed, innuendoes thrown ont,
and for while daily papers teemed with airfti
things against the g little dog, growing quite
respectable in size, and even the city authorities
were called upon to prosecute him for his reckless
doings.
We confess we do not see the iastness of these
conclusions. lncendiary fires would have happen
ed if the Builders Insurance Company had never
gone into existence and TO pay losses promptly TO
incendiaries would hurt none more than the Build
ers, who would have to pay these losses. In short,
1t needs greater faith than ours TO believe Mr. Moo
ney who thus far has proved himself an able and
successful manager of the Builders to be guilty of
such suicidal conduct. Bat, while we reject this
specification in total, we believe that some OF the
charges are true.
1t is true that the Builders Insurance Company
Is very popular. 1t is true that it pays its losses
very promptly, and without vexatious lawsuits
1t Is true that il has some eight thousand houses
already insured in this city. 1t is true that Mr.
Mooney, the President, has made name for busi-
ness ability and energy only eqnalled by his public
spirit and benevoence and it is true that he has
the confidence of the public and the blessings OF
the poor. We wish well to all our Insurance Com
panies, and feel sure that in fair contest the
Builders will not come out 8 second best"