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


INSTRUMENTS of the mortgages. but they were
an ssnnrate Aims of naner. there were no col
laterals RECOMMENDING the notes: the three
notes aoGrpgntpd abont $40 OOO. were given
Inv tbe ntiicers of the comuany-IIripht Wood
aud Tnntum. there were no other notes
excent a small ono from Mr.. Field.
ohont so50. and ma from philadel-
Mia. cannot saw that any of these
notes had matured at that time; they were
drawn ia fine order of fine Delaware State Fire
mud Marine Insnrance Comnanv. that il. they
we're made by the officers OF the company to
fine commands order : don't know whether
the notes or n mart of them were overdue or
not !. saw them and handled them we had
no other knowledge except from representa-
tions made at the meeting as to the value of
liza land in Trenton on which was one of the
mortgages this mortgage was included in
the S5G. 900 fiat we reported good / knew
nothing of my own knowledge of the Trenton
land the mortgage was guaranteed by Dr.
iaNlnhi tho sl'aIuhiee was hot at.aciieu "
the hortBHHei tiihh IL was euteieu on
separate hnP Oh paper which uolo tiio
aS4isnlneht Oh the mortgage 10 eiid
coihPan9 niifeu ~ ny J %rsatne
as 70 tile - Nhluu OF the Irentoh
ahu rom Dr. lhntt'li aioile lroIil Ia.
ti onH hlauo ny nilil uiu ilol looh iii.o ~ .i,o
tltles OF the properly ihel1lolod III tlic
mortgages ulu not oihplof COUNSEL 70 LOON
mo tne titles most ol the lhSr leaeoS W ,
| ~ "tNS - '9rt.t ~,
uilSu' nave pcu'i p"u IL tu9 u.ic HVto p.u
we uiu not look mo tne value OF tlle l.l,u ~
| Mum county Oh ~ We" tasIio County iuiu NV
eNhlliho any NllheSscSi w hue hhoW tnc
remington iarm never saw IL got ~ l.S
value from my sctcrai hho"ieuge Vi laliu
nave IianeiIu onol Nom Iaathe eoults Puou
,rn,,d sojl sn, rcr acre +bo nniesrs ~, fl"
company told us that the mortgages were all |
! frat liens
/ nj al...,,
money mortgages; the Trenton mortgage
| bore the guarantee of Dir. Tantum.
| CrOss-examined-I have policies in other |
insurance companies have one in the New
| Castle County Company the amount of the |
policy is 5l5DOO do not know that there IL n |
rule Of the Farmers Mutual Company pro- |
hibiting policy holder in it to return after
he has once drawn ont.
u,,,,.rr ,,,.ppupv
-. ,,,.,.
samuel MurpheN' sWorhoLlVe Ill winning
ION nave iiNeu tlei9 LOT ~ years was pres
eht at the examination OF Tue Delaware state
ana Marine insurance company 1 KNOW NJ W.
uuStihe' oi rhliauelplla MS ho'9 Ioi so,VOu
Washinohg the company assets ne llVes at
Hecoiu anu race w hlreets' ihilaaeiSnla nave aye
Known nun ior ~ years MS note ipr 9ouQ9
IL gopu Wouiu NC gnu 70 tahe u iio Is S"lu
TO he very wealthy ana thlhk ne H. ..-
CroSs examined ms name Is l. r. uuStlne'
ne IL furniture uealer 40 hot KNOW now ne
came 70 give ms note 10 tEe company calihot
say "hctiei IL was paSt Jug VI nv my M
preston Is that II was NOT uue IL WIS uraM1
10 inc oruer OF tne colhPaI! az We ulu
was 10 eNatliihe inc paperS Nir. Drisnt hahueu
10 us ihal WAS All We "ero usheu W uo We
merely read the MORTGAGES ana notes ana
maze up our Judgment from theih'
WILLIAM A. REYNOLDS.
William \ Devnnlds aifirmed-Reside i'm
Wilmington. have been there for the pnst II
yenrs excont one wear that was in Boston,
have benu n Teacher i'm srhnnla and also nm
auditor of loan nssorintious for the INST M
vonrs. cspccinIIy when thry ret mto troullc:
/ tLnrnn!,hIv ,i;,derstand Go9l,.kaaniu9 in Mi
lis phases. have never kent set of books
Int / nudnrstnnd If much better than n treat
many n,onte Who do. have amdited hook. of
ynrl61ls companies among tLem the books of
ihe Delaware Western Railroad Company; /
audited the hooks of fine Delaware state Fire
! md Marine Instirnure f,nnnatv. was re
: unested IN do 20 hv Dr Tant,tin In 1874 and
aid va. / was ut II nhnut two wnrls. /
examined tho evnirDtion bonk and fine hook
Of losses. went into tho hooks with theory
az nv n,vn. took the eynirntion bnok and
g dr,nnnded ia sn, tl,e cash bnolt. went throi,rh
[ thn LnnLs ,niut,tnIv aud cbrclnd III
4 the items ~ fGnnd Them cntcred
! made cnrnn,r,sons ne / went alone
o mud fnun,l thn number of nnlicics In forr, I
: wnnt thron III tbe eynirntion bnok very
+ n,imntnlv mi, t,yn ar tl,rne hnnra a DIV Ia IF
i T,,rI a. II Il tl,ut : IL,
f, ,il,s WORD tbnt, il; fnrcc th.t - of MIR .orts
i ~ MIL m,,tnal md stoclt tbc stocl. rislss
amounted tn .tSG nOn and tbe rennindrr
S"mnrised The mutual bnsnass / fonnd
r.. | ,rnn,iun, uotns ali,n Ia tLn o,,ou,,t ~
\ t tnl nn 'ptos nv w. tuo it ~ ~, VI
. I'm, ma, o,, l,t. o,,o Lsye hoar5 The stotn
n,"nt ~ ,,It W, NJ carnortsr ras Trnsnnt
|, t threva,,,i,ot,nn ~ ,ybic he s"calis ,yas
y tl,er, NJ an nn,litnr ali m. facts stated IN
>, inf rpnort WE'RE derived from mo / lacked
:. nynr Ia ASA. nnd nniitnI tben, as ttet,
,.,. n, a. e,, a-o - ~.
saw tbcn, cert,ticd 70 tbc,n tborr
4 apd nm here nov 10 certify to them otsoin .
~ ~ In m, os-nts / knov, thnt th,.,, trern tLnrn
thot il thr fa"c af Tho Hon, "0'' oa ~
th";r ,ai,,o l.uan. r,tl,inrr a. all at,c,,t
That ha iI Is NOT % v bsr ,n u. "a" a
n testn1 no crsi, h1,l. ~ + ,.o,t ain,,', = n,
boofs we're snV kent fapy we'll III T1 nndera1d the
d thenrv Of bnoI,ke"n,;c and can Imderstand
/, ,t - 49, ~, III "'a H. VI -
y ava tG,, same tn ma Lnnu NJ d,f,.ro,,',e
L,tr,, ,,,,', .t a,J ,,,l,th",, H. - zero
il, mil, a,tr,, ,.bih H. ,,',+ m hast ,,,,lj
II mi. ali hanis rr M so Vt ,hn,id la, i,nnt
II il, Jn,,I mfr: II would toe " MOI, ,,,,,,tI
II f. "vs,nina cn,rertIv sct If h""iis Lnnt a.
II r,.so hn,Is vow, t.nt + .nnnt IL Jo,,.s in
D. inv examination: so far as the expiration
~ book goes my examination was thorough. and
! got n fair idea of the business from II
~ was employed about year ago by DR. Tan
il tlul 10 tNhhille lllu lhe lhtiu oi hSsuls Hui
" liabilities of other insurance companies.
~ Witness proceeded to read a statement OF
ii the result of his investigation, which WA
y objected to by counsel and the objection
& sustained.
&c Examination resumed Assets of e56,OOl
!, would bear to the stock risks of this cnmpan,
N per centage of about $40 to the 800. The
If proportion Of the assets OF the company L
Is t'lclr Er"Ss l,",i.ltp' ~ SeI iorth ~ '.ou
u ;nyn.ti,,atim,, communion /. Mn, IL H.,
a i,anJ,r9riti,9 Of Dr To,tmn, cn,,t' SOW -,
rs nn.itivnIv Rnt tbinl; il H. il Inni,s III. In
re hnnhrritiur the Lnnks nf the rnnnany mr.,
er in .in,,l, n,trv
Or Mr. n,,.. very ,,nsalaroctorv ,vo, nj
u kaG,in,s hooks wy
~ Witneas-I hav, said that donhIo antrv il
le batta, ''
~ .T,j,, u,nston an evnert bonl,l,rnncr
e. nav, h9il that oni,inn
IL Wine. ob ves have ,,iJ 81,
10 Mr. Ior. offered in ey,ienc, witho,lt obiec
t. tion several unli,ics of some If the cnmn,nie
es thnt Ind rnfu4rd 10 cn-ins,,ra wifi the Den
rs Anra SIate Firn aud Marine Commune III
nf policies have clause which made the com
ed lillles Issuing Them reNpohSlple ohy lor thtl
bt proportion OF the risks.
'. pApta p cARtIstr
~
Io ParS l Carlisle recalled.have hai loSae
u by hrc hau one III 1915 INC property WI
an covered bv a policy in the Delaware Statn Fir