The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-08-28

be utterly useless for the Eastorn Tn.
surance Ring to grasp and ongrosz
TINS held. Their liberal war expeDa-
lture Will be only transient, and their
job printers and foundline sheets
must make the most of It. Now a
few words as to the company assailed
In 205 months the Companv has Sc
cured S975, $40 of cash capital. and a
surplus ever capital, of 1852 563 sc.
1t has IN Government bonds. 81 05O..
307 All OF its assets are of the best
class. No other Western company
has over $500, 900 cash capital, and
only one as much as that. The Com
pany has paid regular 3 per cent. semi
annual cash dividends to its stock
holders, and has piad in losses. with
out litigation IN any case, 1926, 158 56.
The income from premiums has been
S94l ,O83 so. The Company has com
piled with the laws, and is authorised
70 do business In all the States. East
and West. 1t has a subscribed oapi-
tai Of 81. .878,200. of which 20 per
cent. has been paid up in cash.
Chicago Is merely the central Office
and has less than 100000 of the
subscribed capital. There are I85
branches, holding IN the aggregate
81 800, 900 Of the stock
As the policy -holders and stock
holders have never lost a dollar bv
the Company, but, on the contrary.
have derived great benefits from it.
the bitter hostility manifested. must
necessarily spring from motives other
than the interests of the public. As
the public has not suffered In anv re-
spect, it cannot fer a moment be sun
posed that any pLilanthropists would
spend so much labor and money in
warning the public against placing
confidence In the company.
The simple truth is, what we COM
meneed with stating, that all attacks
against the company have their origin
with the combination Of Eastern IN
surancc companies. known az the Ma
lon2l Board of Fire Underwriters.
with headquarters In New York. The
Republic Insurance Company has.
from the outset, refused TO iOin that
organization or any combination.
claiming the right to transact its own
business 10 its own way. and has been
the means of thwarting the schemes
OF the combination In many respects.
The same has been done at many oth- /
er points. This IS ono cause of the /
causes Of the hostility Another
cause is that the company has distrib-
uted Its stock judiciously all over the
West, among tho leading business
men, and 10 that way IL is absorbing
very large share of the best busi-
ness. This, Of course, is an unpar-
donable ofense to the old Eastern
companies, who have 50 long moDopo-
lized the business.
They see, too, that 10 Is only the be-
ginning Of the end, which is finally TO
drlVe them from the field, to give place
to other large Western companies upon
the same plan. They are, therefore,
making a most desperate effort to
crush the new movement by breaking
down the Republic. well knowing if
that Is accomplished, Western capital |
will for many years be deferred from /
further investmentin insurance stocks, |
the effect of which would be. ofcOurse, |
to give the Eastern companies
ftlrsGer lease Of power.
Another fact IN the conduct Of this
war most worthy of notice is, the
universal course of insurance publ
cations IN the interest of the Eastern
combination to dlspaTage Western in
stitutions by paradiBg and magnifying
every loss that a Western company
sustains. and suppressiUg the losses !
Of Eastern companies that may have |
probably sustained a loss on the same /
property. As an instance, the late /
fire In Philadelphia In an anonymous /
circular, that has come into our hands, |
we see the Republic and Merchants I
OF Chicago, and other Western com
panies prominently advertised as to /
the amount Of their losses, but moth /
ing, whatever, Of what any Eastern I
company sustained. Western readers
should learn the animus Of these as |
saults, and discern whether after all |
the enemies of the Republic are not
the enemies OF Western capital seek /
Ing home insurance investments.