The Morning herald., 1876-05-18
Delaware Fire Companies and wild.
eats
From the N. Y. Spectator, May, 1875 !
ia iha ElIifne of TIA 0,,AelnfaA.

FROM the N. Y. spectator, May, 1873
To the Editor Of the Spectator:
Your New Orleans correspondent "Jetty,"
in your April number says THAT the post
Office is being flooded with statements of
West Virginia, Washington and Delaware
insurance companies;" and as have seen
similar paragraphs in other insurance jour-
mails, / thought that I would drop you q
letter giving you the status of the Delaware
insurance companies. First, we have the
Delaware Fire insurance company, of Will
mington, which has been In successful
operation for fifty years as a stock company;
subscribed capital, $lOO, ,OOo; paid.in, $5O,-
900; surplus about 100000, making cash
assets about $50 900. This company con-
fines its operations to Wilmington, and at
home stands 1, its home agents being
Messrs. Wolley & an Trump, who rep
resent over $50, 600, 900 fire insurance capt.
tai. The Farmers Mutual Fire insurance
company, of Wilmington, has about $12,-
100000 at risk in this state; premium notes
of over $500, 900, and cash accumulations of
$l55, 200, of which 100000 is in govern
ment bonds. The Kent County Mutual, of
Dover, chartered in 1919. has $4,000, 900 at
risk; $4OO, 900 in premium notes, upon
which they collect go per cent. interest an
nually in advance. They have cash accu-
mutations of about 100000, and it is
| very popular company al home. The New
Castle County Mutual is an old company,
and it confines its risks to New Csstle
county. The Delaware State Fire and Ma
rine insurance company, of Delaware City,
is a mutual company, with guarantee
capital of $l06,5e0 They write mutual
policies in Delaware and on the eastern
shore of Maryland, and stock policies at
their branch Office in Baltimore. This COM
pany confines its business to Delaware and
Maryland; and as to their stock business,
notwithstanding the fact that they have
been writing stock policies for Year, they
have never had loss on them yet, all their
State of Delaware. Now l am sure that
none of the companies mentioned bother the
post stmaster at New Orleans, nor at any
o;her point. They do not write brokerage
business,
The Clayton advertises an office at Sew
enth and Market streets, Wilmington. 1t
also advertises cash capital of $3.50, 900,
and cash assets of S309,S71 but the fact
that the President and Secretary are both
off and in Philadelphia; that whatever bu-
sness they may do is done by P. R. Ham
brick in connection with F. H. Rollins and
the Universal Fire, of Philadelphia; that
they comply with the laws of no States that
require showing; that the only signs of
life that you can ever see at their office In
Wilmington, is huge sign which bears
the name of the company; that no
one in this State knows anything about the
company, and that it does not try to 90
anv business in Delaware,i is sufficient to de-
monstrate that the Clayton is fraud.
Next is the Sussex, which, like the Clayton
has full paid capital of $3.50, 200; but its
officers Go not like Delaware risks, and
Delaware risks do not like the Sussex. But
Why should | particularize The Secre-
.ary and Manager OF the Sussex is Frank
Chase, la special agent for A. Larrabee
4 Co., Chicago, and, later, the Secretary of
,he Commonwealth, Of Wheeling. one of
A. LarraOee's wild cats. West Virginia
had a bad name, and SO the kitten, assets
and the Secretary were transferred-body
aud boots, Secretary and ALTO poor old
Sussex Brokers, insurance agents and
property holders will do well to give the
Clayton and the Sussex very wide berth.
Mr. Gruob, the Secretary of State, said
10 me few days ago that he was in re-
ceipt of letters daily, inquiring about the
Clayton and the SUSSEX from all parts Of
he country. and that in answering, he re-
oiled that he knew nothing and could learn
notbiEg of these companies, and that he
ould hear nothing good OF them. The
Sussex to escape paying their State tax OF
500, reported to tie State Treasurer that
vhey had done no business. If your read
RS want anything more, let them apply to
your correspondence
From trust orfhy man from Sealord,
learn that men in Arkansas have sent ON
he papers to Sussex county to arrest
Chase, Secretary of the Sussex insurance
COMPANY, for frauds connected with the
Commonwealth, Of Wheeling, Chase's for
,lcr company. The citizens OF Delaware
ire anxious to have the Clayton and Sus-
sex smoked out. WILMINGTON.
Wilmington, Del, April 10, 1876.
{lMY MiMiutMre Poster.