Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1893-08-11
OUTLOOK IS BRIGHTER.
Peoples Insurance company's Securities
Have Been Found.

d MANCHESTER, n. H., Aug. 10. - The
situation today financially shows but
little change, but that change is all in the
direction of benefit to the Peoples Fire
Insurance company. They have received
notification that IS shares of the First
National bank OF Marion, Ind, reported
missing, were all right, as was the case
with a collateral note OF si400 in the hands
OF Nashua parties, This makes Sl0,20
more accounted for, and with the 81, 400
found previously places the company s's',-
0D better than was alleged by Mr.. Line
han.
The Evening Mirror, which has hitherto
been rather inclined to make tlts most Of
Treasurer Morrill, and President Moor-'s
alleged mismauagement,c contains bitter
attack on Insurance Commissioner Line
hans report. 1t says:
sharp Words.
II any president. treasurer or director of the
Peoples Fire Insurance company ha- enhez-
zied It's funds otherwise betrayed the trust
reposed in him. ve hope he will bt punished
without mercy. ~ The same time we sea- no
reason why the business Of the company
should he injured or its stockholders damaged
To crafty the spite or the itch for nmouety Of
nybOdy.
Apprnac hing The subject with tlis feeling.
VT have made ~ examination Nyc could,
and. having made II. bound to LAY
that In our judgment. the report ut Insurance
Commissioner LIneban which We Pul shed
Monday. is nptrageoHsiy unfair, While it
may not contain all ab-oluts falSrbood. it so
dstorts and groups tine facts that they are
made to take the place Of fsisehoods and con-
vey wrong Impression, which is very MUIR
ious to the company.
To the average reader 1t says that the com
pany has been robbed of S4pnpn, which is q
gross exaggerstion. and that ii is nearly
bankrupt. which i not true.
II is true that the tables are accompanied
by some explanatory remarks. bpt they are 50
wnrIetl as not to better the statistical show
Ing and they are nf little account anyway.
because people look. and have right Ia look,
at the exhibit of assets and liabilities when
they desire 10 ascertain the standing of an in
surance company.
The fact i. as stated to MS by one If the
gentlemen who helped make the examination.
that more than slMe0 worth of securities,
about which there Is not the slightest qucs-
ton were treated as missing by the com
missioner because he could not put his hand
upon them, and the actual amount of thc as
sets II the company il about ssjAIH instead
of st74 as3l N and The "defcit- is not one-half
what il is stared 10 be-
The concluding sentence of the report Is. TO
say the .ta-t. in wretched taste and enough
to bring the whole into disrepute with candid
people
Examiner Gatchell of the Common
wealth hank yesterday was
Paid Several Thousand Dollars
by parties who mad notes in the hank,
In response to the query as to whether
the New Hampshire Trust company would
probably suffer any impairment Of its cap
ital Of s51,on, President H. D. Upton
said:
The company's affairs were examined
in June last by committee of the c,irec-
tors. consisting of Ex-Governor futile.
Henry Allison of Fitchburg and Will
liam p. Chamberlain Of keene.
The accounts were also audited by
the regular auditors If the com
pany. and the state bank commission
ers also made their examination at about
the same time. The findings Of these
three sets Of examiners were substantially
the same, and showed the capital to be
unim paired. and that the company had a
surplus Of somewhere from 5000 to go.
600
The company has met with no losses
of any serious importance as growing out
q the present complications in Manchea-
ter. and its conditions, barring the sus-
pension, is in DO particular different from
what it was 60 days ago II the capital
stock was intact in June last it il 50 to-
day.