New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-10
THE PLOTAGAINST MAXWELL
WILL REPUBLICAN SENATORS DARE TO AID
THE GOVERNOR?
r,crs,v.umr p1ERCE's CAREER WITH WHICH
THEY SHOULD DE ACQUAINTED
,ey TELEGRAPH 10 TIE TKrBUNE-7

10y TELEGRAPH 10 THE TKIBUNE2
Albany, Feb 9.-GoverAor illl sun perSlS's III
his purpose 70 Gust from Office, II ne can persuade
Renublican Senator'S to aid him in his plot KoO-
ert A. Maxwell, the honest and able Superln'eAd-
enI Of the Insurance Department. and 10 put IN
his Mace ex-senator James f. Pierce, of Brook
Iyn. But this bargain of certain Republicans WITH
Governor Hill will not We consuinmated until the
pcople of the State have heard the strongest kind
of protest in the open Senate from most OF the
Republican Senators. If any Republican Senator
chooses 10 help turn over the Insurance Depart
moat 20 David b. Hill in order that he may force
the wealthy insurance companies 70 make enor
nous campaign contributions to the Democratic
State Committee he may adopt tina; course bat the
Republican voters of the State at least VIII De
informed in advance Of the facts Of the case.
But there is something far higher than partisan
considerations which will actuoit ReNubllcan sen
ators in declining TO vote for James +. llcrcc
for Superintendent of the Insurance Department
and TO intrust him with the supervision of the
$500 900 Of capital invested in the insurance
business in this State. His record eNciteS pro-
found distrUst. The Republican Senators who 1t
il is reported, are thinking of voting
for him because jim Pierce is a good
fellow" had better examine it. and then think of
their constituents The Republican Senators men
ernor Hill are: Senator Dcanc. of Columbia
County Senator Cogeeshal of Utica; Senator
Vedder, of EllicottvilIe: Senator Richardson, OF
MiddletOwn; Senator LauGhlin, of Buffalo; Senator
Donaldson, of BailstOn Spa; Senator Erwin, OF
Potsdam, and Senator Emerson, of Warrcnsburg
They should read carefully Assembly Document
No. 81 Of 1872. 1t gives the evidence taken By
d committee of the Assembly in relation 10
charges which had been made against George W.
Miller, superintendent of the Insurance Depart
ment Tnc committee made such n severe report
after collecting this testimony that Superintendent
Miller hastily resigned his office. One of the
gravcst statements made in this report was that
Superintendent Miller had examined the Home
Insurance Company of New-IIaven, and had de-
clared that ii had an unimpared capital OF
$500 900 in June, S70 and that six months later
the company had failed, and it was then learned
that il was iusolvent at the time of Mr. MlileTs
examination Of it, At that time James f. Pierce
was a State Senator and also member of the law
firm of Seweil d Pierce. Of New-YOrk The As
sembly Committee reported that at the period of
this first examination of the company Mr.. Pierce
was in New-Iloven in company with Superin-
tendent Miller at the Office of the company, and
that afterward Sewell * Pierce received in cur
rency" the large sum of $4,000 from the insurance
company for their legal services, and that Super
charged nothing for his examination. Below Is
an extract from the report Of the investigating
committee, giving history of that transaction
on or about the OH Gay of June, 1870, the Home
insurance Company oil NeN-ilaven was sub.ecte1 t.
and its capital $l.O0o,OOO was reduced . 500,
600. some steps. however lad beSn taken toward
this reduction prior - the examination. Alter max
Ing the said examination the sHpeilHl -hOehi h'|c
ccluncate which c!o,ed ty saying believe wa, ti
reduction of the stock named viii leave ~ umihld.tl
capital Of 100000 \ new p!e,ldehl Wa CHOSEN
and tie company continued in business with its re-
duced capital OF 100000 until tie mOHth VI p'e4l
Der the year. when another examination Was
made by The superintendent, assisted hI X. A. south
wick, the result Of which showed an impairment OF
sos Dab IS, 1861 per cent in it, capital STOCK OF
until December, 1870. When, after frutess efforts to
procure new and additional capital, II passed INTO
the stockholders thing ON their -toch ana 'ne gen
tl c eeaG o goS p5rg into G the U lands Of re-
ccivcr IL established by the actual sal" ana C5I
loss and other liabilities, that tie COMPANY Ut
terly insOveut, far Stockholders were concerned
nr i' and TiH' srpcIn6cr 10 Error viii douotlcs5
sometimes occur, and examining oincerS may b. a.
Celyed; but after TWO EXAMINATIONS had been mace ~
this case. ~ would seem strange That COMPANY TCay
without dollar OF actual capital. iit.Gu " PtDncS
Endorsed sound and reliable, ana allowed 10 con
tnUe in business, without any assessment c'ui upon
The most questionable Circumstance however, CON
nected with this case and one Elch give, Spi,5
ground for suspicion Is the Iact c 5ne cnplo< tt p
the company Of Mcssrs. se"el y Fleloc ol New !ih
(yhO acted also for several Oticr companies III tt
OF EXAMINATIONS, Is tlclf counsel INC
examination Testimony, PAGE I'D, me Nsil u WI,
Pierce 70 New Haven, his presence there al inc uine
Of the examination ana 5he paSaso 5 % for 9e reand
and scrvices7 testimony, page lGlJ connected with
the ast 6aTn Sesn made S Inc apernencn
either for expenses or services on tm1 Coca2loD.
relating to other case and the confidential ftIallOh'
shown to exist between the PARTIES iend 70 sao" an
Nessrs. sewel Il Pierce.
The esteem in which Mr.. Maxwell, the Superln-
tendent of the Insurance Department, is heo was
shown clearly IN 1850, when his term expired.
A petition for his reappointment addTessc1 10
Governor Hill, signed, Unsolicited by MI
Maxwell, by the officers Of every lue ana He
insurance company III New-lork. lie wording
of the petition shows how high tins regard ior
Mr. Maxwell is among those mon who have had
business relations with him. 1t is given below
New-YoTG, jan. ,, los0.
To His Exceilency, David Is. Ill., Governor u 'ie
SIR. Inc Undersigned insurance companies doing
business in this state respectfully pettoh you u re
appoint INC to- Robert -. aiS@"Ti' a. ne
vi his term. superintendent Maven HaS diuI-a-
tered the duties OF ms hhIOItat UiST "'tH t XII
fidelity 10 the lntcfesl tOnll''su " MN am ' c,
partianty VI favor. Ike E3s SHOWN ectf NV"F.c
misG ~, % crCIS of Indemnify every other aud las
won the good opinion Of every company whose sigma
whom he has decided questions Win me conVcl0h
thai he has boon IN every wy Co. %Hh ,5 ro
hensOn any change in this department by tae @ppoAJ
nIcat Of Oac qualified by experience 10 understand
the peculiar duties Of the Office. II seems u Your
petitioners an ONCE which should be removed from
an considerations sometimes governing poiicaI dp-
pointmenta and one In which qualifications i'r t4o
Mace tested a they have been in this instance by
Wears of trial should outweigh in tho Interests Of ti
State and its citizens all others. This petition to
YOur FXceency has been prepared without suggestion
from superintendent Maxwell and without hi, inoW
edge, and without the suggestion or knowledge 81
any one Interested for him. and is therefore, simply
a voluntary act the part 0f the undersigned, who
are DESTROYS that the state and its citizens should not
lose the services OF faithful and experienced an
officer.
When Superintendent Maxwell was Informed Of
the existence Of this petition, he wrote 10 one Of
the gentlemen who had signed it,
Your very kind letter ct the 31st ult., advs-
luz me of the good viii ana confidence felt aud
pressed toward me head Of the Insurance Depart
of the state by those Interested in insurance