New-York tribune., 1886-07-11
TIE wILDCAT INSURANCE COMPANIES

GOOD RESULTS or "TnE TRIBUNg's" HxposUREs
THE TRIBUNE's exposures OF the bogus fire
insurance companies ahd ther operations IN tbs city
and Brooklyn have attracted wide attention not only
among insurance men but merchants and the In.
suring puplic we'll An insurance broker OF large
business and wide experience said yesterday:
"If TIE TRIBUNE succeeds in waking up the ststs
Insurance Department at Albany II will have dons
most valuable service to the public These frauds arc
going to-day to greater extent ever before in
all my experience lot OF the most dan gcrous agents
are bivouacked In Jersey City. Over in Jersey the
Controller OF the State It's Superintendent OF Isgr
ance he does not 60 be doing anything all
to hunt down the knayes and drive thom out under.
stand that he maxes the surprising answer to all CON-
plants about them that they do not vrlte
policies on New-Jerssy risks That Is not
true rs matter of fact, for I know several
who have placed insurance Jersey property thelr
bogus companies Bus even II It the Controller
SAYS It would relieve him OF the responsibility and
duty OF cleaning them out Their offices Jersey.
and they write scky pocos there, and ho should
proceed eiinst them. However we cannot say great
deal against them when our state superintendent
Is 40 remiss"
"Have you had much with wildcat companies
yourselfl"
II should say have Only few days
ago. Just before that Washington wni-bsz the Anglo
American. burst. came down here from Troy to
see me- He said no had policy In the Anglo-Amercan
Oh a property Ia Troy, recently desIroyci by fire. lie
had sed with the company several times but
had lever received any help ami Ee wanted to know
what thought OF his chances OF getting his money |
told hun opiuoD they were very sliD that AL
our in condemned the company ~ enr-y nn-
worthy OF confidence and that shouid feel disgracel 10
have allowed any client OF mine 70 tKc policy IN H.
Well he sad he knew severa people whose losses had
been paid and he thought perhaps was prPlliced.
I'm. still he wanted advice. flnay toii nm thas
while didn't believc Ms policy WIS worth Inc price or
a Washington. yet no had come TINS Tar. he
l..tf IN M. n
ami sna what hs cOld GET ilsuli so
and turned up few ddys later. glecfny dlspaYlnS
sght draft London for the total amount or his loss
IIc vastly delighted anh laughed heartily AT me- In
day, the secrrtary OF ths company had skipped OF
10 Australia. its failure WAS announced and at this iirne
he Is proDaby not in such state OF merneht as waen
I saw him Last . , Ia, =. -,
Another broker said he could fll columns with Incl
dents of rascees OF these friuiulent companies
!" Trl TEIBUsE has struck fruitful subject he SAID
You can tell these fellows usually by their meth"Is
ness, as you see, In DAKOTA town
| would not take its policies "a free
| gift judging from this circular one would suppose
that every property hoer IN s town was Interested Ia
very small and ihars local reputation Is utterly bad
It really igeG by person, IN CHICAGO thogh tnt
fact IA carefully concealed from s circulars SpeasnS :
OF Chicago some weeks . customer OF mine IN
that city submitted to list OF insurance on property
owned by him. One Of the policies was that OF sioux
Cy company. | objected TO II as UNSAFE, ana no
| told mo To have it cancelled wrote ths
AZ the request Of the assured sentt back Tor eancea'
non They wrote to my customer at Chcago saving IN
LOFTY way that they di not know anything about me,
and asking him 10 keep the policy assuring Mn, Oh 'nr
capscty In lust days cu5tomers building WAS
IN ashes and now :ho 5ionx cry people VIII nave An
or portupity TO prove their good fa1 shall soon learn
whether they have paid the loss"