Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1881-10-30
STRONG ON THE STREET.

asked: "Well, is it true, Uncle Rufus,
that YOU are about to organize grave
yard insurance company, under the laws
of the state of Pennsylvania"
"Some of my former acquaintance
have spoken to me about 1t. My reply
was that was surprised that these irri-
Ustinr benefactors of the living and the
dead should remain in the backwoods and
coal fields of the state of Pennsylvania,
when there was such grand opening for
thing of that kind in Wall street,
81 Judge" said the reporter, "that you
have some such proposition in your mind s
eve. If you did take hold of it, what
would you dor
ssMy programme is not fully developed
vet. Perhaps l am at liberty to give you
an outline of what has been suggested to
me. The capital of the company would
be sl00. O0O, 900 This would be larger
than any of the mutual or stock life in
surance companies in the state of New
York, thus enabling us to receive larger
proportion of premiums than all the
other companies consolidated"
"Who would be the officers9' was
asked.
sThe fact is, we have not yet obtained
our charter-but l suppose we shall be
obliged to ask Gov. Cornell and other
half breeds at Albany to petition the
governor of Pennsylvania for the charter;
and under those circumstances should
expect to be the president myself"
EWhat salary would you eXpect?"
''Well, not less than 800, 900 year
as values now exist"
"What! You don't mean 500, 900 in
cash?"
Well, suppose should have to take
some of the salary in construction COM
pany stock and deferred bonds.''
"Who would be the other officers?"
'sThe executive committee would con-
sist of myself and preferred friends mo
common friends admitted), who would do
lust as l told them, morning, noon and
night A great many of my acquaintan-
ces have applied for the treasurership,
but prefer Jay Gould, as the public have
so much confidence in him at the present
time"
"Whom would you make secretary,
then?'
"Oh, well, there's only one man suit
able for position of so gigantic benev-
olence-that is, Cyrus W. Field-not the
ancient Cyrus. Any one fully read in his
recent connections with the elevated
railroads can come to only one conclusion
Ibis great fitness for such position. Of
course, as before stated, intend to be
the president and the entire executive
committee"
"What would you call the company"
81 hardly know How would The
First National, Internal and External,
Life, Liberty, and the Pursuit of Happi-
ness, Cradle to the Grave Insurance COM
pany, Unlimited, dor"
"Why, what specific kinds of risks do
you propose to take?"
Everything, from the cradle to the
grave"
sIncluding risks outside of life and
death?''
"Of course. The full schedule of risks
and premiums has not yet been decided
on, but l can give you an outline OF the
discussion on this point. Let us first take
political risks land these would always
command high rate of premiums.) For
instance, there are men who want to
change from stalwarts to half-breeds. We
insure them, for certain premium paid
to this company, success as half-breeds.
If they want to change back to stalwarts
at reduced rate, we insure them success
as stalwarts. You see, we take insurance
on both sides, though this is entirely the
secret of the president and the executive
committee
ssSuppose man wants to be deputy
sheriff, or a police justice in either party,
Tammany or nti-Tammany, or to be
elected as half breed or stalwart, you
can readily see that he can be elected to
either side by paying premium to the
company, as the president and executive
committee may decide. In this branch
of the business we expect very large re-
ceipts-even larger than those
disbursed at Albany this summer
This will apply to all primary cleo
lions in all the states and territories. 1t
will also apply to all elections from the
sheriff to the governor, or from the post
master to the cabinet, and from the Gus
tom house officer to the secretary of the
treasury. If any politician wants his
name and the record of his voting in the
past changed. either IN Albany or in
Washington, or changed back for pre-
MUM, the first premium will be con-
siderably larger than the second, and the
price of both can be included in one
policy.
'sSupposing man wants to be elected
Judge, from the police courts in New
York, going through all the courts OF all
the states and territories, to the chief JUS
ticeship of the United States He pays
us certain amount of premium on his
policy of election Tor his friends do) on
one condition-that is, that he is always
to decide in our favor whenever we come
in court as plaintiffs or defendants, with
rebate on the money he or his friends had
put up to elect him.
ssBut political risks are not the prime
object of the company, although they
will doubtless be much sought after by
the Mahones, Davises, Gorhams and
Kellys of the country. 1t is really in
tended for Wall street and the grain
market. Now, suppose man sold Han
nibal & ST. 10 short. For certain pre-
MUM we guarantee him against loss If
he bought long, we'd guarantee him
against loss on a decline. Sup
pose he bought Pacific Mail. We
would guarantee him against loss
on certain premium paid to the treas
urer providing the company did not lose
steamer Suppose he had sold Manhat-
tan elevated short, a few days since, at
seventeen, we'd guarantee him against
loss, providing our secretary did not COM
promise in lawsuits commended by other
people. Of course, this would have to