Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1883-02-23
FRAUD ON A GRANn SCALE.
The Home .Ins. Co, of Coiu IN bus, N
Dasta rdly Fraud Upon the Pco-
pIe-COl. Chas H. Moore, Supt. of
Insurance, After the ScOundrels.

Dasta rdly Fraud Upon the PcO-
pIe-COl. Chas H. Moore, Supt. of
Insurance, After the ScOundrels.
COLUMBUS, OHIO, Feb. IA, 1888.
FRIEND Misunderstanding T. that the
citizens of Wood county numbering among
them IL considerable number of erst-while
policy holders in the defunct Home Insur.
ance Company, of this city, have for
warded to the JOURNAL, under separate
cover, a cauple of journals of this city,
and of opposite politics, which contain a
pretty thorough exposition of the aninus
of the management of the "Home;" and
have no doubt that you will be able to make
some extracts from the same that will be
of no little interest to the readers Of the
JOURNAL. Colonel Moore's exposition OF
the deep.seated sconndrelism OF the man.
agement OF the "Home deserves the highest
commentator. Here was corporation
whose business extended over large por-
ton OF the United States, and which issued
policies to the amount of millions OF dol
lars when the only basis for such issue was
perjnred lie A corporation that has
been hopelessly insolvent tor ten years and
that for that length of time had successful
ly blinded the Insurance Department of
Ohio; nor is il strange that it should have
been thus successful in escaping inspection
when it is remembered that it numbered
among its directors and stock holders some
of the most eminent men of the State, in
point of wealth and distinction; bankers,
iurists, and statesmen whose reputation ex-
tended far beyond the borders of Ohio,
and whose reputation alone, in the early
history of this corporation, formed the ba-
sis for issuing 100000 worth of stock, not
one dollar oil which was ever subscribed
for, but upon which these honorable gen.
tlenen drew dividends with great compla-
cency and regularity.
Insurance swindlers found to their sorrow
tha: there was new deal when Charles
III. Moore WAS appointed Superintendent
for OHIO. Here was man who was thor
oughiy posted in the intricacies of every
class of insurance, and who was no respect
or Of persons when in the discharge of his
official duty.
The year 1882 will stand as "Red Let
ter" in the history Of insurance supervisio
in the State of Ohio, for that year marks
the exposition and dissolution of more
fraud, disguised under the name of insur.
ance, than has ever been unearlhed in the
entire previous history Of the department,
and il is safe TO say that Commissioner
Moore has placed upon his books a purer,
healthier, and stronger class of companies
for the year 1883, than, as a whole, has
ever before been entered in the Department
of Ohio.
The action against the "Home" illus
trates the decisive, and fearless action of
the present Superintendent when in the
discharge of his duty. Communications
r, ceived from policy holders in the "H lone"
and who were residents of other States,
complained that the company WAS very
delinquent in the payment of certain
Losses. Colonel Moore, as is his custom in
such cases, Immediately addressed a polite
letter to the company, citing the complaint
an asking fr explanation. The reply Il
the company was evasive and unsa tisfac-
tory, and within tcenty four hours the Su
perinlcndent was Investigating its condi
liun and business, which decided action
| prevented the scoundrels from borrowing
M they had done on previous OCCASION
of the kind, sufficient stocks aud bonds he.
longing to individual directors, TO eqnnliz.
their sworn statement.
1t being possible til 1t you d, not fully
understand the work OF the State Ims,,r-
anlc Department, will just say that tht
law requires each and eve!y lnsnr. NJ,
company i0ing business in the State To
furuisl, the Superintendent Of Insurnnc,
upon the first day oi January or within
sixty days thereafter, annually, a sworr
statement OF the condition of sucl, con, pa
#
during The previous Such statements ar,
subjected To thorough examination, an,
comparison with former statements of sucl
com pany, when. if found satisfactory, IL
cense Is issued for the ensuing year, or, i
not satisfactory the license is refused.
The Home Insurance Company, of thi
city, was u joint stock company and il i
n requisite oi such companies, proposing T.
! ,io business in the State oi OHIO, that the
possess NJ least 500, 900 worth, marke
value, OF certain classes of stocks an,
} bonds. Mr.. j. b. Hall, President Of tn
"llome." made his affidavit upon the 3lsI
7 day OF December, 1881, to the effect th'
, said company was possessed Oi paid u
capital of S200,000, and that it held
surplus over all liabilities Of nearly 40
: 900. The investigation oil Colonel Moor
r revealed the fact that this was not only
I wiliful and deliberate perjury ON the pai
of Mr.. Hall, but that the Home" did II,
II possess one nickle OF capital and that il
h liabilities exceeded Its ,ssets in the rati
n OF four to one. IL was further develope
n that President Hall had not only delibe
e ately perjured himself in this instanc
! but that year after year he had bee
! making an equally false affidavit. As
j matter OF exceedingly unpleasant but in
peralive duty, Superintendent Moore in
medIately began an action against j.
Hall, for perjury, and he was pound owe
to appear before the grand jury aud VII
n the said Hall is to-day member OF Il
\. General Assembly Of Ohio, and not AN !
mate Of the Penilentiary, is a mystel
. that no honest man can fathom.
ol desire particularly to call your atte
at tion to the letter of Attorney General Ma
II, to Judge Wylie, a copy OF which you W
y, find in one of the journals which l ha
It, sent you, and also to the letter Of Colon
n. Moore to the Finance Committee Of Il
IL. House of Representatives (of which Mr..
It, B. Hall is u member,) which letter y
ny will find in the papers sent.
by With kind remembrance Of the Jou
lis NAL, and ihe'old home,
IT. You're very Truly,