New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-10-28
PROTECTION AND INSURANCE MEN.
FOREIGN COMPANIES DOING BUSINESS HER
CONTEMPLATING NATURALIZATION

FOREIGN COMPANIES DOING BUSINESS HERE
CONTEMPLATING NATURALIZATION
The proposed amalgamauon Of the Queen ana 'ns
Royal insurance companies, OF Engeno Is MOI hAeS "
take place for some time, and although their ANAL
a,mat,on has now become highly probable, there IL
possibility Of It's not taking place at all. Tribune
reporter saw Edward F. Beddsl Eew-York manager OF
tho Royal Insurance Company, yesterday. ne mas
recently returned from England, and ne SAID that inc
agreement entered into between the directors OF the
two companies in England would not become operative
until tho project had been approved by the stoeRhoaer
Of both companies and until this approval had been
given business would 60 a. heretofore. "ln case
Of such APPROVAL added Mr.. Beddsll, the business
IN America will be conducted under Separate organLa
ops as at present, either as foreign companies OF
AZ American companies organized under tho laws Oh
the State Of NewYork or Of one OF the other STATES
II the latter course should be resolved upon IL "oud
ba necessary TO mako additional deposits sufeient to
supply tho capital registered and cover all liabilities Oh
the composites leaving the present assets
"The assets OF tho Queen are held by trustees Ior
the protection OF tho policy holders and cannon Do us
trbed and will have to be held by the trustees u"'
the policies issued by the Queen have expired oy hm'a
ton OF time. Therefore tho rumor that the queen
assets would be spirited away and used IN some otner
manner upon the amagamation Of tho two companies
Is not tensble. The Queen Insurance Company mas
valuable connection In America, and before any change
Of any kind Is made It's managers and officers In TINS
country will be consulted and that course be decided
npon which they consider best to secure the reIenoh
NJ that connection. 1t is quite probable that ticio
will be no change in the management ana WORK OF no
comnanics for year at least, and perhaps two. Inc
change will have no effect on the public Or the pocy
holders in our companies Tie only difference Will be
that the Hoard OF Directors OF tho Queen viii be
merged into the Royal, and both companies VIII be
rrder one reneral manager In England. while our
branches IN America will DO under separate manage
nent as now but subject to the control OF one Ooard
NJ trustees and one general manager.
"There Is much difference VI opinion among mSur'
auce MEN as to whether II Is advisaole TOT
a foreign insurance company to rcmain as such
ar IN organize under American laws ana DO
como m American Institution. There aie Cd.
vantaxes and disabilities on botll SIDES, ana
foreign companies though subjected TO numerous smau
d,ssdvantaees here are very we'll satisfied with the
rsent state of things but arc always little nervous
over the fact that legislative cnactmens might DC
made nmical to their interests and dangerous 10 ther
nolcy holders 1t Is possible that general movement
will be made BY foreign insurance companies In New
York and America generally to become American com,
pancs under the laws OF the LANDS should Tue hoSai
aThe real point In the proposed amalgamatl3n does
not bear on anything affected by the laws OF me Two
Countries but Is purely business move on tne par
the Queen in England, o department OF the business
that has not been introduced IN tho conpanys Amcri.
can branch, and it IS very likely In view OF the nome
and the complaints made by American insuance COM
panes that foreigners have greater business ADVANTAGES
under the present laws than have Americans tnat a
base as American institutions, doing business under the
same laws"