The daily gazette., 1880-11-30
THE SUPERIOR COURT.
THE LIBEL SUIT TAKES SANOTH-
Err FULL DAY.
THE DEFENSE GETTING DOWN TO
THEIR DOCUMENTARY TESTIMONY
PROBABLY TWO MORE DAYS OF THIS

NhOnApLi IWO MOhE DAYS OF THIS
TRIAL.
Specially reported for the GAZETTE.
NEW CASTLE, Nov. 30.
In the ID. s. f. & NJ, Insurance Co.
libel suit against VIM. T. Croasdale
TO day, tho remaining testimony Of the
morning session, for the defense, was
as follows:
Gsorge w. Stone, Director of the
Delaware Fire Insurance Company,
testified that he was the third member
CT the committee appointed to exam
inc the condition of the y. s. Il. IL NJ.
Co. Like the other members OF the
committee, he said he did not mako a
pesonal examination.
VIM. Candy, President of the Della
ware Insurance Company, testified
that the general reputation of the ID.
3. F. q nj. Insurance Company for f.
nancial soundness and ability was not
good. Witness said he was also Pres.
ldent of the Wilmington SaviDgsFund
Society, which institution invests
largely in bonds and mortgages, but
the investigating committee had or
dered its Secretary not to accept the
policies Of the d. s. +. & NJ. Company
as collaterals.
On cross examination Mr.. Candy
said the investigating committee was
composed of Chas. Warner, Washing
ton Jones, VIM. NJ. Candy, E. T. Bel
lab and himself. OF this committee
himself and VIM. NJ. Candy were Di-
rc ctors of the Delaware Insurance Co.
and Mr.. Bellah was Director in the
New Castle County. The ID. s. f. d
NJ. Co. was not represented on the
Savings Soeiety's Board of Managers
MIR. Candy also said DIR. Tantum had
extended to the Delaware Company
an invitation to examine the ID. S. F.
& NJ. Co. Is affairs.
Court here adjourned until 3 O'Clock
p. m.
| AFTERNOON SESSION.
On the reassembling of Court, VIM.
| Tatnall, was first called to the stand,
and testified that he was President OF
the New Castle County Mutual Fire
Company; have been requested by ID.
I L. Hawkins to do business with the
d. S. f. IL M. l. Co.; we do no busi-
ness with them because our board does
not consider them sound.
| VIM. A. Lammotte, Secretary and
| Treasurer of the Farmers Mutual In
surance Company, said his company
| had refused to cuinsute with tho ID. S.
+. 81 NJ. Co., and he considered the
latter company's repu alton bad. He
said the Farmers Company's pre-
MUM notes were not regarded as cash
| assets.
On cross examination he said the
| cash assets of the Farmers, ON Dec
81, 1878, were $20l, $50, and the risks
| between ten and eleven millions. The
risks were about two per cent, of the
risks. (NoTE.-The plaintiff pressed
| this question because it had been
shown that the cash assests of the ID
| 8. +, & NJ. Co. after the crucial inves-
tigation by the Insurance expert were
little over $4,000, and the risks
about 81 900, ,000-the assests being
thus more than three per cent. of the
risks.) Mr.. Lammotte said the pre-
MUM notes were regarded as theCom.
pany's contingent assets. The witness
| admitted to Mr.. Lore that ascertaininl
| the ratio Of assets to risks was a gooC
yay to ascertain tho condition OF al
insurance company.
James ID. Canning testified that he hat
been an insurance clerk with Thoma
Pummer, Wolley Il Van Trump, Jas
Wolley and l.. +. Buck u Co. lie sait
lhe general reputation of the ID. s. +. 4
| Co. was not good and the agencies h.
had been connected with would not plac'
any risks with it.
| The plaintiff was CT oSs questioned yer.
briefly, aud in the redirect examination
Mr.. Bird handled the witness a copy ,
| tie Spectator, an lnsurance journal
containing marked article i'll relation
O the Delaware S. +. & II. Company
Mr.. Canning said this journal was Lh
leading insurance paper of the Unite
States, and is taken by all insulanc
agents. :.
evidence.
The plaintiff objected, but submtte
the objection without argument.
Mr.. Bird said he understood tue cour
10 saw that the defense would subml
restilnony to show that other paper
han the Ecery Erening had attacke
this insurance company.
The Chief Justice replied that tnI
,pplied to regular newspapers, oil
.eneral circulation, and not TO cias
implication, circulating only among
certain class of people. However, II
aid. let it go; it won't amount 10 any
r thing. ,u,,., ,,oooh 90;
mot during the last session of the Lee
stature Mr.. Bright had an interview
with him in regard to the amendment {
: rhe u S. f. IL NJ. Co.'s charter. Ii
told Bright the company had been chars
adj with not recording the assignment q
csr,ain mortgages to the company, an
: asked him why it was. MIR. brighl sal
The mortgages not assigned oi recol
/ were the property OF Mr.. Johnson, an
Q 'yere moi assigned, 50 that he could
= ,nv lime withdraw them and suDsIitul
! ',,i'.r securities If he wished. Mr.. Coco
sain he saw a statement that these nor
g,oes were not assigne OF record Ill u
O Euery Ereniny. &c, ,.o, h;s nam
Win. Herbert testified that ms nan ni
= Wa nnhlished as Director IN the Ne
II r. g. M. Co. without his knowieut
y ar consent, whereupun he wrote a ieIs'
II m the Eoery Erening, declining 70 sel'
MS reason was that he did not care
his -" ,,;,L nne of the officers. /