Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1880-12-02


| the time of my examination, had as Large pei
centage Of assets To the amount Insured AZ most
! companies la the country; the ratio In this com.
pany was t3l 900 to 81 900 600 abou the ratio Of
| assets 10 liabilities IL the gauge by which one
company Ia better than another; the company fur
nished Inc with books and papers and all the con-
yeniences for conducting the inves,iEauon ~ I'M
| to express my own individual belief about that;
believe DR.. Tantum asked me TO make a
| most fair, thorough and careful examination ;
| | told him In his Office one day that there was
| something very wrong; think called his ntleF-
| ton specially 10 those Dsuphin county mortgages;
don't remember making any special alluslon 10
anything else my recollection Is that called his
/ attention 10 the condition OF the company, and
said that II would be well 10 investigate very care
| fully the condition of the company, and. as an
| instance OF what ! tn night TO ne wrong. called
| his attention TO the Dauphin county mortgages;
| believe Mr.. Bright came 10 me- at the clayton
House. and asked me to tell him II there was any
| thing wrong.
"Did or not DIR. Tantum say that the attacks Of
| the hvkRY EVENING had worried him nearly 10
| death, aud that 4 there was anything wrong he
| wauied 10 know 70"
81 believe he did say something about the
attacks; ne urged me to make thorou III eNami-
nation, and We did NJ"
Redilect-I cannot tell how many promissory
| notes there Were; not n great many
| John r. Melee, recAed-Am insurance COM
missioner of the state OF Delaware; was ap-
| pointed in April, 1879; am sworn officer aud
| under bonds; investigated this affairs of In 2
|
| 1879; employed William Muir to assist me IN
that examination. he WIS rec lmmended 10 me by
| Mr. Davis, Vi president OF the Moth American
| Insurance Company, wno sent me very high
recommendation Of HIN, and by the Insurance
commissioner OF Pennsylvania; we made the tx
7ninutun IN the presence Of Oilic r. Of the CONE
pany nj different times. the keeping tt the nOhks
| d'u not strike me Ne very a,curatc and correct
| nevertheless by some 'runbe we ascrriainrd whal
we desired 10 ascertain from tile books, | would
| have known something about them but would moi
EnuMn imam
tor Mr. MUIR asslslauce the hr-i thu that pur-
| ticulhry attracted my attention WIS the I,5U
Dunpnin county mortgage, ecause | know INT
| nortgngOr, ID j NJ M ok, OF SenfUrd, und knew
| hun 10 wUrtnl ~ he was client Of mine ana
did moi pay hi fee, (aughter) tins awake ri my
Snsp iOu in regard ~ II wrote 10 hin when
went home To give me slUrA Uf the transaction
| | made inquiries In regard 10 the nd from
| iiif rent persons; | " IN cOrresJ nd, II viii
iva or three nrnber- Of the bar Ut Dnuplhh
county; | received letters trJm Them upon tln
informant n T, cslvrd aud from other Information
rUncuded that The value III the 240 acres was moi
more than 81 per acre. ign red these mortgage
utterly On the gIUund that they were vilIlrss !;
there wAr anuthtr mortgage for think s., OU0 VI
some laud ID Dup ~ cJuuly, II nOis l cough
Information IN regard 10 It's value and thr " II uui;
the 40 ucr;s IN CnntOn unity, Pa. was helu BY
deed, 1xed II II no anal sum Of 81 per acre, si
| nclud,d It anon. the items ut not uvtiubl,
assets; carried tnis tract vi land As INSIDE ibseI
winch ARE uut admitted rs available assets but ar,
{ aired To b. snOwn. ttnr officers Of the CO IL
pany claimed the premium notes AS ca h assuts |;
lnty ARE very rarely allowed such think ~
one or two staits only tue insi Commits
sloLcrs carry them outside as available us-e =.
There were Al shares VI Empire Passenger Rail
way stock found nIOrtguger on lands IN New
Gas 10 county; can't say VIM held them believe
some OF tnem were assigned 10 the compuuJ III
assignments were on separate pieces of papu,
folded Ia the srpiIa; mortgages; the nssl nllIunt-
could have been taken away at any time /
pjec'ed to lne!n Mr Brlgni stated that tIey
nee lllhU oil tlle ulfuculty OF settling