The New York herald., 1874-09-13
A BOLD GAME FOILED.

Another Chapter on Wildcat Insurance
In Jersey-The Secretary Of state ON .
Long Pursuit-From Camden to Jersey
City-The Firm of sacia d French.
The Legislature OF New Jersey passed q law in
the early part OF this year which was designed to
give the deathblow to wildcat insurance tom
panies. BY this law it becomes the duty OF the
Secretary of State to investigate the AZ
fairs OF all the insurance companies
in the State. 1t is declared uniawirl
for any insurance company to commence business
until such investigation shall nave been made and
a certificate issued by the Secretary OF State au"
thorzlng them to proceed.
About year ago an insurance office was opened
in Exchange place Jersey City, a lew doors from
the erry under the title of the Paltsade Insurance
Company, with Charles Saca as President and
Lewis h. French as Secretary. They alleged
that they proceeded by virtue of charter
passed In March, 1862 incorporating the Fire.
mems Fund Insurance Company of the city of
Hudson. The following gentlemen were directors
under this charter:-Garret d. Van Reipen, Den.
mis- Yoe, CLINTON W. Conger, John ID. Waugh,
Charles Gobisch, Charles Luxton, Benjamin f.
Sawyer John NJ. Wilson, Thomas Aldridge, Charles
j. Roe. John H. Platt, George Gaubrecht, John X.
Mcpherson, Alexander Frank, Thomas f. Bray,
Edgar M. Eon, Charles f. Newham Christian
Weber, Joseph E. culver, william A. Weeks,
jacob J. Newkirk, Francis Mitchell, william e.
Dudley, Richard ID. McClelland, John B. stanton,
John Rommelt, william Coughlin, Patrick McNulty,
Alexander II. Laidlaw, Andrew Mclean, James
Montgomery, Jr.
There is no proof that the company ever organ
ized under this act The Legislature OF 1879
passed supplement to the act changing the
name to the Palsade Fire Insurance Company Of
Jersey City, and changing the names Of many Of
UnAo nant GaNi and
French allegc that they organized year ago.
Information was soon conveyed to The Secretary
OF State, and that gentleman came 70 Jersey
City, called at the once and saw French.
The latter told him that the company had not yes
organized, but were about TO commence opera
tlons Soon after q branch ofilce was opened in
Camden, wnitner the secretary OF state posted,
and lound Frencn, Sr, in charge as Secretary. he
asked French to furnish a statement OF their
AFFAIRS and he promised to do so, but never lu-
nlled hts promise. shortly aterward the office
was closed and he parties disappeared.
The time had now come to bring the case to an
issue A complaint was made against the So
called company IN Jersey City, setting forth that
Charles Sacia and Lewis r. French did on the l7tn
oil August, at Jersey City, represent themselves as
Palisade Insurance Company of Jersey City; that
they raudulently conspired to deiraud and cheat
unknown out OF money, goods, chattels and ei-
IectS, and that IN pursuance OF this conspiracy
they swore to statement that their assets con.
sisted OF certain bonds mortgages collaterals,
&c. warrant was issued by Justice Reese, and
Captain McHarney, of the First precinct, arrested
was placed in charge Of au officer, and the books
and papers were conveyed TO the Court.
The examination took place yesterday morning,
IN the First District Police Court. before Justice
Reese. District Attorney Garretson appeared for
the State, while the accused were. represented by
three counsellOrs. Secretary OF state Kelsey
testified to the facts above set forth. He SAID
that the first evidence Of fraud ne ehcl-
ted in his investigation of the Affairs
OF the socalled company was that among
the assets he was shown l35 shares Of stock OF
the United States Gas Company On making In
curry at the office OF the latter ne found the stock
was bogus. There were also nity shares OF the
Ocean County National Bank set down as worth
5000 as collateral Tor q loan OF $4,000 to John
l.. B0ugh. The certificate in this latter transac-
ton was drawn to the credit Of Amos r.
bore no date. French could not tell where
the MAKERS OF the bonds resided. In the
meantime Sacia was arrested In New York on a
plclons OF Mr.. kelsey. Another bond bore the sig
nature OF William H. Arnoux, but that gentleman
denied that he ever signed the bond
Carman, the clerk, testified that the company
had done business after secretary kelseyS prChlbl-
tion and several policies had been issued.
George w. James, who had been badly v1ct1ms
iZed testified that Sacia represented to MIN that
the Paisade Insurance Company was ABOUT to be
wanted him (James) TO Necome president OF the
company, and by these representations James was
induced to take twenty shares for 500.
Time passed, and James was put or iron, from
either the ONCE or the money. An examination OF
the books showed that James was credited with
12O shares. making $l2, 000 in Gil. James swOre he
never paid in this money, nor did he know any
thing whatever about the affairs of the company.
The examination was adjourned till next Tues
day. French gave bail IN $1,000. and Carman gave
bail to appear as Witness