Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1875-06-17
Delaw are Insurance Companies

from the New York Insurance Times, for June.l
There 10 war among the wild oats. There is
mutiny In tho camp. They have risen against
their mighty chief And leader, Major General G.
E. Rollins, OF Philadelphia.
Delaware, where Rollins has long had unlimited
sway. The newly-chartered Delaware State Mu-
tual Fire Insurance Company heads the move.
ment- We hope it will spread. The recusant
company (nirdb,le dictu y has some honest men
init They admit their obligation to Mr.. Rollins
for procuring from the Delaware Legislature
tho act incorporating the company but when
he modestly requires them to make himthe gen.
eral agent Of the company for the United States,
to pay him . commission Of 49, per cent. on
the gross insurance premiums, aud ~ grant him
authority to write policies on any kind Of risks,
they protest that he is asking too much.
Mr.. Child, member Of the board, WAS Of opin-
ion that auy child could see that no company
could pay such commits, IN and live. Mr.. At
Gnson, another member, who seems to be very
upright man, declared that as the company had
no capital Oh which to base insurance. to give
Rollins, or any other person the right to assume
risks without dollar TO meet losses, would be
an act Of dishonesty, the idea OF which should
not be entertained for one moment. This WAS
nat treason "a was ever uttered against King
Rollins but we connot help admiring thessrebel
and wish there were more like him MIR. htkin-
son was unwilling TO become a scapegoat for
Rollins, who seems to imsRine that the company
was brought into existence for his special bene-
ft. He believed the company would not live a
year II 1t allowed carbohydrates to write insur
Ance for It, and that every policyholder could, IL
Rollins proposition was accepted, nghtfully
charge their losses upon the board. Other d.
rectors, DR.. Tantum, and Mr.. Wainwright, fol
lowed in the same strain and Mr. Atkinson's
spirited resolution, that 1.-THE appointment Of @.
E. Rollins, as agent Of this company in Philadel-
phiA or elsewhere, be and il hereby revoked"
was unanimously adoDted
Mr.. Atkinson followed up his victory closely
by offering another resolution to the effect that
tho Act OF Incorporation should be placed out Of
the reach Of Mr.. Rollins and contided to the GUS
toty Of the President Of the Board with instruc-
tions to have the same recorded at New Castle.
This resolution was also carried unanimously ;
and Mr.. Atkinson ~ good citizen Of Whining
ton, exults in the fact that lie has saved his city
from impending disgrace. His satisfaction il
shared by the Wilmington DAILY COMMERCIAL,
which journal confesses with shame that parties
non resident Of Delaware last winter procured at
least four charters for insurance companies
from 1.-THE Delaware Legislature, which compa-
MES are all now stioat, utterly without capital,
| but taking risks OF every kind, and swindling
the public with the dashing recklessness Of those
who have everything to gain and nothing to lose.
| We cannot name the companies TO which the
| Wilmington COMMERCIAL refers, but presume
that they have been enlisted in the ranks Of Rol
constant influx OF new recruits, for the saugh
ter that took place in the Wilderness il not to be
compared to that going on under his flaming
banner. The names of the slain arc too numer
ous TO recall, but the Hope Mutual, of philadel
phia the Dauntless, Of Philadelphia the State
Of Philadelphia the Susquehanna Mutual OF
Lykens Valley the Souuhsde, Of Pittsburg; the
Great Western, Of New Orleans the Working.
mans, Of New Orleans .Etns, Of Chicago and
the Merchants and Manufacturers, OF st. Lou.
is, are . few among the host that have flashed
| like meteors across his insurance field, They
are all dead and gone now and Rollins is call.
ing for more. But the Delaware State Mutual
declines to answer the call. 1t has no desire to
lead the forlorn hope and its Board has some
compunctious visitngs In regard to the obliga-
tions Of fire underwriting. Mr.. Rollins is above
such weakness. He is wonderful man in his
limo and his daring strategy and dash remind
one Of the first Napoleon,