The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1892-03-14
1TLooKs CROOKED.
A Recently Organized Insurance compan
whose Officers nrc In Truublc.s

A Recently Organized Insurance Company
whose Officers arc In Troublc.s
On Saturday warrants were issued by
United States Commissioner b. j.
Campbell for tho arrest OF T. NJ. Gar
vim, president, and ], X. Elderkin, sec
rotary, Of the newly organized West
Virginia Fire and Marine Insurance
company, the, charge being using the
mails for fraudulent purposes. The
warrant was served on Mr.. Garyin and
no was released on his own recognizancc.
Eldcrkin was expected here Saturday,
but did not come. Ever since the or
ganization OF the new company there
has been talk about its methods. Last
Friday an lNTELLiGEScER man had n
talk about 1t with Mr. Garvin, who said
Elderkin came hero and induced him TO
act as counsel and 10 secure three other
reputable business men TO become IN
corporators Us n matter OF form. This
was all he had to do with 1t. Mr.. Gar
wins standing Is such that nobody who
knows him will for moment suspect
him OF any guilty knowledge Of any
crookodness II any exists. llo said he
did not know that there was anything
wrong with the company, but 1t GER
tainly did business in n most peculiar
way. AS soon rs he heard OF tho irrog-
ularities charged he resigned mis- posi-
ton as president OF the concern.
Mr.. Elderkin came hero late in Feb
ruary, and employed Mr. Garvin in n
legal capacity, to organize tho West Vir-
ginia Fire and Marine Insurance COM
pany OF Wheeling, with capital stock
Of two hundred thousand dollars: Mr..
Eldcrkin put down his name, in tho ap-
pltcation for charter, for ninety-six
shares Of stock, and Mr.. Garvin and
three other gentlemen cGch took ono
share OF stock, the three latter at the
request OF Mr.. Garvin, who desired to
formally comply with the law in getting
up tho company, Mr.. Elderkin having
assured him that in case the four local
incorporates did not desire TO remain
in tho company, the stock would be
taken of their HANDS, The charter was
granted March Cd, and on tho following
day Mr.. Garvin and Mr.. Elderkin met
in Mr.. Gnryin's Office and elected the
five incorporators as directors, Mr..
Garvin was then elected president, and
Mr.. Eldorkin secretary. Mr.. Eldorkin
exhibited to Mr. Garvin sundry papers,
purporting to be mortgages and other
securities, representing q large sum,
and n number OF policies, which had
been already printed by Mr.. Eldcrkin.
or some one for him, were signed UP.
These policies, singular to relate, do not
state whore they were issued, although
the inference is lett, from reading them,
that they were issued in Wheeling.
On tho 4th OF March, one day after
tho organization at the Office OF Mr..
Garvin, the following financial exhibit
was issued and extensively circulated:
Loans on real estate, secured by mort
gage ,5U
Loans secured by coliatcral..."....-..". y ,l25
STOCKS Gnd bonds .............." ,OO
,ndt no -
Total 800 900
On tho LIST day OF March, three days
before tho organization OF the company,
and one day before the charter was re-
ceived, policy No. 5,072, for 81 600. was
issued throug Chicago broker upon
the Elson Glass Works, OF Martins
Ferry, which policyris now in the hands
OF the United States authorities in this
city. This fact seems 10 showthat poll
cies were printed and sent out before
the organization OF the company, or be-
fore it had q legal existence, and that
good money was paid by those desiring
insurance for such policies Letters re-
ceived in this city from the Findlay
(Ohio) Glass company and fiom Buffalo,
n. y, show that insurance was sought
i'll the name 1.-THE West Virginia Fro
and Iarine in those cities, and inqui-
RIGS were made as to the standing OF the
company Of local people before the poll
cies were placed. Business cards issued
blythe company bear the following list
Of officials and directors, which seem TO
be different from the board elected in
this city: T. NJ. Garvin, president; DR..
Frank Hunt, George L. Emminger, J.
X. Eldcrkin aud Hon. William II. Ray
mond.