The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1869-09-16
INSURANCE.
s.ate Atditor ILvect;gaticn of In
sIIsIce Companies IN FIeeport.

has. ii. LIZ pincOtt, 10 our city, on busi>
Ass connected with The heading Of our
article, caused no little tauIult among those
Interested in the business. Many of our
reatefs will RENE mt.r tlas during the last
session of our Legislature, many of our pa
pers publis he'd bill headed ''Winnesheik
Insurance Bill, so named because the
officers of the W.nnesheik Company Of our
city were its main or majors, and with all
the energy at their command, urged its
adoption r, our Legislature. As is usual
al Cases Ut lie kind, what pleases one dose
hot please another, and as several other
bltls, all however, uIexceptionable in many
respects, we're presented, a compromise
Was Effected, which resulted in a portion Of
several bills being Incorporated 10 one.
which by proper nalasement on the part
of those having the carrying of its provis-
ions into effect will no doubt result in Civ
ing unqualified satisfaction to all friends OF
reliable insurance and sound Insurance
Companies.
In con piisnce with one Of the Sections Of
the law, requiring the Auditor to make
personal examination of the condition Of
each Company located in the State, that
officer, accompanied by bis efficient assist
ant, and the Superinte ndent of the Insur.
once Department OF his Office, Mr.. Geo
u. Brinkerhoff, called On the Companies
OF our city and as sufficient time has tran,
spircd since the examination was made for
each Com paDy TO receive its Certificate
OF compliance with the provisions of the
law, If it should be found, after the exam
nation, warranted such Certificate, We
deeul it duty, which We owe to our read
ers, many OF whom, have their property in :
sured in local Companies, to let them know
what the result Ut the examination was
Of all tie con panies located here, as yet
but one, namely, The Winnesheik," has
received Certificate.
We are informed the Germ an will
receive Certificate before many days, but
few thousand dollars being requisite to
raise its Capital to the required
.um.
The other Companies located here, have
as yet received no Certificates, and = the
examination was made on the 10Th of July.
and the Certificate OF the Winneshek came
to hand on the Goth Of July, may we not
infer that these Companies will not receive
the requisite Certificate These Compan>
les have done large business in this i'm
mediate vicinity, as well as in many other
portions of the State. What will be the
result, should they not receive Certificate?
Ii is said that their business will not be
their Charters, they can continue doing
business despite the law and the Auditor.
Admitting this state Of things to be true,
what security have the pol cy holders
in these Companies p? May not their
operations ceas to morrow But taking a
charitable view Of the matter, and admit
Indefinite time to come, would not their
managers lie leEeflted and their patrons
be much better pleased, could they by some
means rase the necessary capital TO meet
the requirements Of the law? Again is it
not likely that the business of these Com
panies may be cut OF intirely ? 1t was
said when this law was passed that it
would be the means of showing which
Companies were sound, and which unsound
of separating the wheat from the chaff.
Is it possible that all can be sound, those
that comply with the provisions
of the law, and those that do not com-
ply :?
This is mc tier in which fully two thi. DIS
of the citizens of this State are interested;
and as it is their duty to see just laws of all
kinds properly enforce they should in
This case see why it is not done. A per-
usal Of the law, will at once convince you
that its provisions are wise and just
Other States have long since found it nee.
essary 10 pass and enforce jusi such laws,
in order to rid themselves Of Corporations
that were sapping the life blood from their
agricultural communijics, without giving q
just equivalent. While we wish we'll to all
of our Insurance Companies, believing
their managers men Of integrity, we will
not uphold resistance 10 just laws. and must
sly, gentlemen, what you preach, comply
with this law, as al. sound Companies in
/, he State are doing, or but enc other alter
native is left you, re- Insure your risks and
ceuse doing business In this connection
rg cannot refrain from giving just praise
10 the managers Of the Winnesheik
This Company has during the past two
years, undergone changc in its manner of
tuing business, namely, from the Mutual
10 the Stock Plan. Many have prophesied
hat it would not live through the storm ;
and some, who for year. rcaped the bene>
lis ofits prosperity even went so far as to
I. ace all possible distractions in the path
IT the preseat management. Despite all
these obstacles, the Company has been