Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1880-12-09

Darlington and Murphy is better than that OF |
Stone, Richardson and Gibbons2 "Oh,n
they say, ''they never went to the company" |
Why, what did they want to go to the COM
pany for2 Bright took it up to his house iu |
| one night Why, Carpenter told you lie
never opened a book. What was the use of
| going to the office? They would have found |
precisely what they had sworn were their
| assets. That's what Carpenter found.
Here was Reynolds, who testified that he
| was two to three weeks in examining the
company's assets lie didn't examine them in
full he hadn't the time He IVES inclined to
wax eloquent lie became warm. and was
evidently ready TO make a speech. What's
| his investigation wurtht He says he wasn't
an insurance expert he had been book
| keeper he examined from two to three
hours day. What did he examiner just
| two books He testified TO you rs to the
| amount Of expired policies, and the amount
of LOSSES He knows nothing about the conf
| pany except so far as those two books go.
Let Inc place Muir at one end of this table
and Reynolds at the other here by
| the ice cooler Tor | guarantee
lie will need ice before We are
through with him. What does Muir tell you?
lie says the books were irregularly kept and
that no one could know the standing of the
company by the way they were kept. Are
You going to let that be overthrow by a man
who was not an insurance expert, who had
never examined insurance books before and
who was employed by the company? From
the very outset he was biased i'll favor OF the
company. II You become my client am
biased in your favor. The very fact that you
come to me makes me love you. That's
human nature. It's every day life written in
hat book which is not printed-the book of
human nature
Was Muir employed by that company Mo-
1t was only his business AZ an expert to tell
what tins company was. lie didn't know
! liz
cold duty-dollnrs and cents that's all. He
WAS employed to tell the cold facts, for dol
lars aud cents. 1t made no difference to him
whether this company was q fraud or the best
representative of virtue III the community
When my learned friend comes to argne
before you he is going to dwell on Mr..
AlcFees saving that this company was not u
fraud. Mr.. McFee who Ii the authorized
licenSer, when he examined that company they
claimed well nigh 725000O worth of assets
and they swore to them, and you
were led to insure i'll that COM
pany because they did 30 advertise
their statement and you believed it. MIR.
Melee took his pen from behind his ear and
wiped ont S239,U00 of these assets and left
them only ;'l1 900 He left them 531, 900, but
against them were 100000 of liabilities So
| that the company, instead of having S250000,
after the Insurance Commissioner wiped out
! 1000, had only Sill 900 clear assets That
| don't amount to anything he other side
will claim that it had still enough to pay its
liabilities. Yes on the basis of IL PER cent,
as they did to Hoffecker. They couldn't do
business of they didn't pay something. Why
did Mr. aIcFce ray that he didn't believe it to
be II fraud They deceived him as they de-
| CClNud me. When | asked whether they were
doing business under the amended plan
they told me no." and when Mr..
Nlci'ee asked them they told him eyes" lie
| issued the certificate to the mutual COM
"a Inf ia tl.,t
company. There is no man in this state
/ whom respect more than Mr.. McFeo but he
is only Il witness. If he Ind believed them to
De fraud he wouldn't. have licensed them.
He licensed what he believed to be genuine
company. Did he know that Bright swore
that the Pennington farm WAS worth 5l50OO2
Did he know that John Ferris held prior
mortgage on that FARM That farm was one
Of the assets that went to make up the
$4,000. lie didn't know that that farm was
worth, NJ my friend has put 1t, only slD,0O0
Suppose that Mr.. Melee had heuu brought
to the stand after he had heard of the Gray
mortgage. He wiped out the Dauphn Du-
Page and Clinton county lands What are
the notes of Bright. lautum and Wood
There was no collateral accompanying them.
What made the 53l, 1000. Why, first the
s5.O0O mortgage on the Gray land The mort
cages ON the Kent county land We're allowed
So il You take up what Mr.. AlcFee allowed
you would wipe It ont as If you took n sponge
and drew it over II slate. There would he
nothing left. What did Mr.. McFee know
when he licensed this company? II | had
been in his place | am free to say would not
have licensed it. But am not Mr.. Melee
We have no fault to find that il only a
difference of opinion. lie did license it, not
as the plaintiff that is suing William \.
Croasdale. Read the certificate and you will
lind that he licensed the Delaware State
Mutual Fire and Marine Insurance Company.
IE4rn -.
| Court. That was granted by the Legislature
+ hut was never recorded in the Recorder
J Office. Mr. Mcfce never woud have licensed
5 them if Bright had kept on carrying these
assets of the company iii his pocket, He did
: Gods service ana to him and Mr. Croasdale
| belongs the honor of making this company
put Its mortgages upon the record Are Won
going to be satisfied with II pocket mortgage,
not recorded The record lives. ii the
mortgage is burned up the record is still
: there Am to assign you n mortgage on II
slip of paper suppose die, what is there
/ to show? There il nothing IN the record to
I show.
{ There never las been Il word published in
Q the EVERY Evening with regard to this com
t pany since Mr., Melee licensed it, The mouth
Of Mr.. Groasdae Was closed: he has not
/ uttered word. There is no testimony in
> this case that there was n word uttered since
{ the license was granted. lou know we
t, wanted every word ever printed in this paper
9 about this company to 60 in evidence, and
y the counsel for the other side would not
allow it, and he comes now to make
j. coWardly assertions and innuendoes You
u Will lind that no attack was made against this
t corporation since it was licensed. The last
y paper i'll which such an article appeared was
: i'll February, 1879. THESE are facts they are
: not arguments from imagination. This man
! quit writing against this company after Mr..
j Melee had licensed it. The fact that the
1 commissioner did license it stopped his
! mouth, Had lie right to speak
I before Yes. because the very
d act of his speaking brought the commissioner
c 10 make an examination. Supposethe EVERY
t EVENING had never said word about thi-
I cummnN.Nllore would the only legal evidence
a to bind the mortgages of the company have
BEEN In the pocket of William Bright.
il Bright would have carried them mp TO his
e huUsr, and he and lantun would have folded
. them over and over and wondered whcthr,
& they had the right to change this or that
mortgage without the consent of the Board
. OF Directors.
! II the naEiug Of assets Of pxa ertatrd values
n IN" sayiiE thai a mortgage l. u fst ltuL wt,u il
II l. not Ni-l Leu II llas II not irgud dOn't
1 ku"" wpa' tulnd Is and il The editor nl n news.
1, ptpr rpt opn his uVutb when everybody i.
deupuncp~ il Then don't ki.uw what IL Il fraud
. NIT Mrf''' said, believe that The assets of that
company ware grossly exaggerated, aud That thcy
. w't" n3'eH un iu!liOu. vauer.H II n COMPANY
g Ma Is h"'ing tts"i ont II IN stateuuit> bastd oil
~ bus Va h's IS Ebi !, trilll. what Ia the n me of
Hat - II iriud? What il - fraud? Whv l. n
A Randi fraud Is man vino Intended 10 : liunf
., YOU Thai Is uuc definition bid thlr company
: intend 10 thea Anyhaly? Why, didn't il do Il !
I Hnat sd the lawyet Ii II .cket tell ven? sixteen
Z l9hirs tl At Il per r,'ui; isn't that "A fr,u,t
r What constitutes nlrui@ If you hold Soirsr III put
- - nrlng worth S45du10 wien in nuth yuu aru
!, worth tut Fil,ulu Il 7 tim II trnul Remember
a lllrIr oail III dra tu more II IlcuIi iudictuut
!, Hntr "Hf clIuiiW! ltw ttaH one for Ublainll,
! mnu'y under fNsc prelet,srs.
u Npt a
% ma sud a rurpOrItl N was irnll That every nnl
u VINO walked The srrrt- Of Hi miugiuu s ID Wi,- n
4 ittHd, h'heNrd Ms fraud aud swUrc w.s n fraud
a tie only printed and inld yuu What was fI,r
common n i N " imins.1n. The other side tnd
4. Ndh tliAl tIrofgr u rmIusun said Ills Cuunnly
( Wa u'tH lr.Ui ii nrvcr Saih s1 III, snjfl his
/ tpuintle" dot r"plri il Il fraud Why? WHAT
v no iley to dn with Frauds They were cxaminn,
i The nnphilN IN know wGrturr they should cu-insurr
: WIN n lb'Y wen' not doing 1t lUr.tiir pubic
i b"lrtii hi tor their own uuds.
y N ashamed ui myself. mover Thought Iw0uld
= af4us = ease 50 org in my lite. Bul you mlsi
:. rrtNeMher gentlemen, thai lie costs in ths CiSl
e Hin.t are cnDuEh 10 swamp nuybOdv and il il.
9 Their tehr, m wonder tina | should Struggle ha al
i iur the succr - Ui my client.
= The "cnt!G M Whl Tetrrscnts the ullir, n In
! li- Gi~r, % iny IStOntshment- though tn.st sll
iiftl ulf4 my experience III tliis ir | have -ril
:" lhutii maj has 10 he ur' + ) lnrd thing from
MN mat win aslDlist n,--llS UtL,rtt bp Ia ,ir,,t
l. r. auptTInr N M Insurance uOIUpuN AMI n Stack
hnfhl IA M imper. Wy friend Il uliruriur in an
=, 'hsn Ahot roihnhny; | dnIi'l know whether any
' DINER lawyer u ne civ ul Wilmington hpnl- sIrf
IL ppSl'tpli. lhls Insurance company ,.Iuulnyrfl
mn ~ Aer Investigate the AFFAIR." IL he p,ninittt