Daily Republican. [volume] ([Wilmington, Del.]) 1874-1890, 1880-11-30

olaLy Hps0und the i6putaii ion OF tie
company during 1S77, '7S ard 10 was
bad.
Cr0ss-examine1-I cannot name
single man now outside OF insurance
circles who | ever heard speak against
the Delaware Stats Mutual 7. and N.
Insurance Co.
W. A. Lamette, sworn-HaVs been
Secretary and Treasurer of the Farmers
Mutual for ii years; We refuse 10 co.
insure with the plaintiffs their repu.
tatiOn is bad with people generally !;
our company is purely mutual we
have premium notes which We do not
regard Is cash assets we have in the
neishborhood Of gil, 600, 600 in risks,
aud the annual premium on this is
about OBJ, 900; l heard Mr.. Brights
testimony upon this subject; the pre-
miums will be about 80 cents on the
500 AZ 10 risks in our company and
IS osnts to 800 in his company.
Cross examiped.-The ratio OF assets
TO risks is the way Of determining the
Reliability of an Insurance company.
Oar assets are s20l, $50 and our risks
Gil 100000 Gin the Delaware State
Fire & Marine Company the assets
were according to tsstiW my, s3l ,383.H
and the risks about $500, 000. 0.--REpoE.
TgR.J Premium notes are contingent
asseis. Cannot say that company had
not 81 In treasury for the first four or
five years.
James D, Canning, sworn-I am an
insurance clerk in Wilmington in var
ious Offices and lave been for s years
and half; the reputation OF the Della
ware State Fire x Marine Insurance
Company is 20 bad that none of the
foreign companies will put any risks in
1t, bat they do in the other home
companies.
TIE de'ease here offered In evidence
the N. J. Spectator in order to show that
it circulated all down the Peninsula
and caused many people to take out
their policies, in addition TO the inf
uence of tho Every Evsning. The
Court allowed them to do this, but
said they would have to show that
it generally circulated among farmers
and the class Of peopls that insured.
J. W. Cooch, sWorD,-Am a member
OF the State Senate and at the last ses-
sion Of the General Assembly was mem
ber OF special committee on Insurance;
had an interview with Mr.. Bright with
reference to an amendment to the char.
Aeter OF the Delaware State II. X N. In
surancs Company and objected to the
non assignment of the compapy's mot
cages; he said the mortgages were the
property OF Mr.. c. ?. Johnson and the
understanding was that Mr. JohpsoD
could take them out at any time and
pnt others in as substitutes.
William Herbert, sworn.-My name
was published as director in the
Delaware State F. & AZ. Insurance
Company and | declined in an open
card In the papers to serve in that ca
pacity; my reason was that did not
care TO associate with certain officer
OF the company. Owing to the fact that
| had no faith in the cencern allowed
q policy, which | held to expire; do
not know OF my own knowledge it's
Reputation in 1877, '7S aid '79.
Crosse xamine THE officer to which
| had objected was James II. Myers. |
had no objection to DR.. Tantum or Will
liam Bright.
James Bradford, sworn.-IoWn much
real estate in Wilmington; was invited
to become s member OF the Delaware
State +. & M. Insurance Company two
years ago, before it reorgsnized he
asked me to put in $3.50 and get $4,000
worth of stock which he said q man
held in New York; declined; | do not
know the reputation of the company In
Wilmington in 1877, '7S and '79 for e
nancial soundness and fair dealing.
Cross examined.-I was not asked to
put in bonds and mortgages 70 the
amount OF $4,000.
J. II. Hofscker, Rsq., recalled
Have had several claims against this
company; the first was on risk in
Ohio in the fall of 1877; oonversed
with Myers about the sompany's ability
to pay the claims; he said he would
give me 800 if wonli not bring suit;
the claim was for 81 800; | had no fur
ther dealings with him; afterwards
met the company's officers, Messrs.
Bright, Tantum, Johnson, Hawkins
aud Myers, and discussed the validity
OF the risk; | subsequently brought
suit and We compromised the CLAIM by
them paying me $500 for the 1880
had another claim afterwards for $600l
which was settled by compromising for
$3.50, my proofs Of debt not being very
good in the fall of 1879 was called
upon by man calling h m elf IN Gin
adjuster;" he had eleven OF
thefc claims the company refused to
pay them because they said the broker
who insured them was not their agent;
they finally agreed to pay from ten to
fifteen per centum Of the claims /; the
did recognize this broker as
their agent, because they paid some OF
the claims.
Cross examined defenses were
plausible and in the case OF the insur-
aucs sdj juster made settlement with
which he was pleased. In the cases of
the policies there was some doubt about
the expiration Of their policies till af,r
the FIRE.
Thomas Case, sworn-Live near Eel
ton; in 1876 l took a policy for 5000 on
q stallion at the request OF D. J.Minioh
aeeat; lost the horse by
irc and went t. the com! Iy's Office at
Delaware City aud saw MIR. James b.
Henry about the claim; he was Prssi-
lent at that time; be gave me to un'
ltrstand tlBt the c)mrany had no
money at that time, but talked Of
alliance with another com
pany; l employed James L, Wocott of
Dovsr, and the claim was compromised
for $375.