Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1879-01-02
FIRST EDITION.
TINE ID. q. Il. INSURANCE co.
The CeRpany Defended by its Vice
President. Dr. j. n. Tantusn.

TIE Company Defended by IL Vice
PvsolAeot, Dr. J. n. Tantum.
MEssRs. RpIroRs Permit mo through
the columns Of your paper TO show the
public one Of the most formidable A.
tempts to drive q rival from the field Of
business that has ever been known IN
this community, and II were far better
for all the actors in this drama II 1t
could be burned up in the waters OF
oblivion, l call it a drama, for 1t seems
more like tale of fiction than . real
i!y.
In order 10 make full and oompre-
hsnsive explanation OF the above it
will be necessary for me TO go back TO
4.h Of March, 1875, when tho Lsgisla-
turs Of Delaware passed an act incsr-
porating the Delaware State Mu-
tuSl Insurance Company. On May
4th, 1875, the corporators met in Will
mington sn elected nine directors that
evening said directors were notified Of
their election with a request to meet on
the: ::iollwoiDg day at 404 Market street.
Lrt mo here remark that up to this time
but lew II any of the directors knew Of
such an enterprise being started; May
the 5th said directors met as requested
to se. what was on hand and after con-
siderable discussion 1t was dei led to
20 into an election for officers, which
was done. After the transaction of some
other business the directors adjourned
have omitted all the names ofthe gen
,lrnen in obtaining charters corpora
tors, directors, and officers to avoid
a lengthy detail, several Of the officers
and Directors resigned and the Company
did not fully organize and get ready for
business until July the 18th, 1878,
when the following officers represented
it; President Win. Bright; Vice Presi-
dent, J. X. Tantum; Treasurer, NJ NJ.
Child; Secretary, d r. Hawkins and
about score Of good men az Directors.
| might her. id that the feasibility or
necessity Of st..rting another Insurance
Company in this city had been fully
and frequently discussed and after
careful and mature delibe ration it
wa, decided that there was room
for another company and when that
decision was made but few Of It's Off
GERS or dire tors turned Uack or loi-
tered by the way. The President
worked with will AM soon the little
acorn that had beeen dsp Jsitrd beneath
the genial soil Of Delaware sprang up;
we examined tn. slender stalk and
found i, healthy, and soon little
branches began to max. their appear
snc. and il gave promise Of rapid
growth. TO avoid cumbering you with
details hat are no, necessary to the
matter at issue, will skip the interim
from July the 18th, 1875, to October
the End, 1877, except to state that the
young oak had been growing dur
ing all this time and now was
quite slightly aapling. On Octo Jer
ID, 1877, the j. rd Of Directors
was called tc,e.. to consider the
question Of sous iating or uniting
our COmpany elaware State Mu-
Iudl lnsuft "Lpahy, WltH the Dcl-
aware STATE and Marine Insurance
Co., OF Delaware City, After a careful
aud exhaustive examination on Oct.
18Th, 1877, it was decided to unite the
two companies and make one, but to be
determined in the future as to which
name should be adopted and float at our
mast head, caused considerable discus
sion and for several reasons on Oct. l3.
/, was decided that We use the name Of
Delaware State Fire and Marine In
sursnce Company.
Then it was that the hydra-headed
monster jealousy began to make its ap-
psarance; but the little acorn hal
now grown to be young oak,
cOm-ly and ghtly to look upon. A bout
this time the editor of the Every Eren.
ing and Commercial began to attack the
company with publications as to its
Sweeney. The officers talked the mat
Ter over and thought it best to make
no reply to it; conscious of the compa-
ny's financial condition, and We con-
cluded to tr-a, Kim with silent con-
tempt. But the attacks grew NOR. FREE
qu-nt and the charges stronger, until
W. We're denounced as robbers Of the
peoples money and perjurers. Finally
h. announced that a committee of
three gentlemen had examined our COM
pany, one from each local company,
here, namely the Farmers, New Castle
and Delaware; said committee gave a
statement of our condition and pub
.iahed to this community and the whole
country that We were unsOund ard un.
safe, and utterly unworthy the conf
d-nce and Cooperation of their respcc-
tiv" companies, while at the same time
We were in better condition financial
.y, had more assets to our liabilities,
than either one OF til. above companies,
a the examination just made clearly
proves.
Not one of that committee had ever
b"L in our Office To our knowledge,
but how that examination was made
w. and the public will forever BE- in
Isnoranc. unless one OF their number
fs+s and explains.
Our company's reputation now stood
ID the balance and our characters that
Srhad been life time in esta aolishing,
had followed suit, and ~ called i'll a
Committee of your best citizens to ex-
anime US properly who have carefully
gone over our books and DOW look at