, 1881-12-16
One Of tho Corporators Explains Ger
tain Errors and Answers Ger.
tain Objections.
Mr.. Willonghby md Ills Connection
With Tho Projected Organi-
zatlUn.
How Con. Grant Turned Him Over
to Vanderbilt and Jay
Gould.

and I[{c aud accident insurance pcapo yestcr.
dsr. anu ynrlous wcro tho cUIntucnts thoreon.
Tho railroad people who wgro nat alleged to tl0
in IL looked upon It With Fpmothlng Ike tndit-
ference; some Of those who wero wero cousld-
erably surprised ut their ncXcd connection
With It; while tho Insurance pn0plo, w1so III
the experience which 1t has taken a HUt)l
many years and no lltttu money to Ratti, wero
ANYTHING but favorable to tho schumo In their
criticisms OF Its prospectus. and sumo oven wcnt
40 far as to predict TINT it would tattc1 out bo-
fore It furry Rut started. In addition to NIL this,
ttero wns no Ilttio criticism directed toward the
apparent engineer Of tho cntorprBo, ono A. 7.
WillouRhay, oratwhile Of Chieugo.,
II was somewhat carly in bis Investigation
that TRIBUNE reporter who had been detailed
for that purpose run across
AN INSURANCE MAN
who was apparently full OF tho subject, and
who was witnout any great difficulty persuaded
to tell all ho knew or had heard or thought
about It.
With tho wrecks OF cOmpAnies-bunn fldo ones,
at that-whlch started OUT to do general acci-
deut business. bomo tfty or sixty ucotdent
companies have been organized Within tho lust
hfteenyears With from $lG0,0N to &300, coo paid
up cash capital, aud yon can count on the tingors
Of Que hRnd tho number Ut companies
actually engaged In tho business today.
EQMf Oh E0aM WeEG G0f1pO8C0 Ut mon WHO
we're very uauch like those railroad pcople-tp.
top BUSINESS Nun In thor why. but knowing nb-
Boiukgy nothing nGUut insurance.. Others Wuro
Ttssnsuraace % m n nen, but who s know netting noth.tsa
altnt tnie Particular branun OF the business.
T M thsS 9 ~ I've ,ossns ss sx
~ tne mortality 81 Hreat III all ihatl"
involved ii ru,iroad % omposs oalItns, lin H or Il
the nctuul mortAlty., Eren tho companies tl1at
hare msnaaed t9 pull through have iaado moth
prta,tums received FROM tho general travelling
public that hnvc carried thom through. lii
panes c1lGaXed In fhis GrAnch ot The business,
/ looks very much as II u schelno With s2;,taU
MlcapItul-wth only twu oents on the dollar
lar on anuaa more Of It, with sevesul tnorB mill
Ions 10 be nude out Of the pronta-well,i 1t lnoks
+ 1l59 @G 70 e aos ,Sxss q, y + " would oo very good
"ARE THERE ANY PRACTICAL INSURANCE
MEN
10 tho Consolidated ~
"Thcro isn't u good Insurance man connected
reay use ascertalr, ths facts ' BY askig % anybo.iy |
who Ii IN acknowledged auIhurlty II tue toheino
snt nSrsly neans 9t ob!ain,nk resneoAbil!ty
nanes fDr certa!n men 'vho hnysn't ~ yet fully
ss%o ,,aH to the tight whero The public can ace tho,
"Doy oyoa know anything about Dir. willougbby,
seo seSns tg carry tho institution largely on
,."WIiIotgh6y Is undoubtedly tho inventor Of
iar pAtent W which tas company is,or oxpoc1s
And who ID Wti!ouyhby?" $780,.
~ n,"He was tho orHanlzer 5l what was called the
P!oacer AID anu ne1!ef Association, Of gales-
barK, but tapyed to Dayenyort 10 do a gonerul
mo hAlt In nntconB out thls 'ConaolitateA
eehcmu, though Ehoro isn t probably uno OF ttese
knos sSste i sasS "
e1ls11nee. They hate becn appr0achGu by mon