New-York tribune., 1891-12-25
INSURANCE RUMORS AFLOAT.
THE ARRIVAL OF ROBERT LEWIS OF ENG
LAND, STARTS THEM.
HE REPRESENTS THE ALLIANCE LIFE AND FIRE
COMPANY OF LONDON, AND IT is -AID
THAT HE WANTS TO BUY NEw-YoRK

| HE REPRESENTS THE ALLIANCE LIFE AND FIRE
COMPANY OF LONDON, AND IT is -AID
THAT HE WANTS TO BUY NEw-YoRK
| CoNCERN-HE DENIES THE REPORT.
| Insurance men were much interested yesterday
| in the report that large English insurance com
pany was negotiating to secure control of a New
! York company with view to obtaining foothold
in this country, where it never yet has done any
business and dozen we-known insurance men
| who were seen yesterday say they will not be
! surprised TO lr,ar in a day two that the con-
! trolling interest of one, and possibly two, COM
panies in this city has been purchased by the
foreign corporation The company in question is
the Alliance Life and Fire Isurance Company OF
! London, the largest company of the kind in the
world. Its capital is Gj.000,000, or nearly S25.-
600, O0O and it is owned by some of the weathiest
capitalists of Europe. The Rothschilds are large
stockholders, Lord Rothschild being the chairman
Of the Board of Directors lord Rothschilds
office s not salaried one, however, the manager
and the man who attends to all the important
business of the big corporations being Robert
Lewis, of London who, besides being wealthy
man, is acknowledged to be one of the shrewdest
insurance men in the business and authority
on financial questions. Mr. Lewis arrived in
Ncw-York on the steamer Majestic of the White
y
haste, and it is believed that before he leaves
New-York he will have secured control Of the
majority of stock in a well-known insurance COM
pany in this city.
The Alliance Company, of which Mr.. Lewis is
the chief secretary and general manager, was or
canized in 1924 by Sir Moses Montclorc who it
was said started it in order to make a business
for friend who had been unsuccessful and whom
he desired to help. Mr. Lewis says however.
that this story was made up out of whole cloth
and that the concern was started to make money
for those who invested their capital in it like
any other company For sixty years Sir Moses
Alontefcre was chairman of the Board of Directors
and he also relieved the manager of the most
important work. In So4 he died. at the ago of
| l01 In the sixty years during which Sir Moses
was at the head of the Alliance Company, he built
il up until it became what it is to-day-the
! biggest concern of its kind in the world. Up TO
| the present time the Alliance has made no effort
TO do business in this country, and the rumor
that it was after New-York company naturally
| aroused the greatest interest.
| Some time ago Mr., Lewis went to San Francisco
and bought the controlling interest in the Union
| Company of California, strong company, and
one Of the best in the West The capitalization
of the Union is about $780, and the majority
of this stock is understood to have been already
transferred to the Alliance. Having virtually
closed this transaction, Mr. Lewis returned home
little over q month ago, and his arrival in this
city again yesterday the Majestic, taken in
connection with the rumors as TO the sale OF a
New-York company, started gossip of all sorts
Every insurance man talking about the mat
ter but no one seemed TO have any definite in
formation about what was expected TO take
place The idea that Mr. Lewis had come back
simply to close the transaction with the Union
was secuted on all sides.
uMr. Lewis is too good business man" said
one prominent manager, to have gone away
leaving any loose points in such transaction
which he could not easily settle by mail or cable
or at least by sending clerk to attend to them
His sudden return has far deeper meaning than
that
Another manager, while cOinciding in This view
added: "You should remember, too, that this is
tbe Christmas season. Mr.. Lewis is man OF
wealth and very fond of his home life Nothing
but business of large importance could induce
him 10 leave England at this time. We are
all interested to learn what his mission is, but
At present are entirely in the dark"
This same manager suggested that it might he
a. Canadian company instead of New-Aork
companv that the Alliance was after. He
areued that the charter of the Union Company. Jl
California which the Alliance has secured, would
enable it to do business in all parts of the United
States and that it was than probable that
Mr. Lewis was reaching out after charter under
which he could write Canadian risks.
Some half-dozen New-York companies were
named as desirable acquisitions for the Alliance,
Int the officers Of these companies all denied IN
tho most emphatic words that they had any IN
tcntion whatever of selling out or reinsuring 1t
was generally believed that Mr.. Lewiss plan in
volyed the purchase outright OF the capital STOCK
Of whatever company he was after but no onicer
Of any company could be found wh"
would admit that he was Wiling 10
sanction any such sale. On the o1hei
hand it was asserted that at least one New-1 orH
companv WAS anxious to sell. and had recently
made overturee 10 one Of the large English con'-
papcs already represented here. This proposition
had been seriously considered, it was said by the
resident manager. and the cables had been kept
hot for several days discussing the question OF
the purchase. in order that the sale. II made,
might be completed before Mr.. Lewis's arrival.
The outcome of these negotiations was SAID TO
he a declinstion Of TIE Oner. NO names
were mentioned in connection with these negotls-
tions.
II WAS said that one of the New.York companies
which Mr.. Lewis is after was TIE Hanover, but
President Lane of that company, was emphatlo |
in his denial that any such report IS true.
"I as president of the Hanover, can posluVeS |
eay that there is no foundation whateVer ior
such a report" said Mr.. Lane 30 reporter o:
The Tribune Yesterday. II have investigated |
the thing thoroughly and am satisfied that no |
negotiations of any kind have been gong on |
between Mr.. Lewis of the Alliance company
and any of the officers of the Hanover Inc
Hanover Insurance Company does business Of