The times. [volume] (Richmond, Va.) 1890-1903, 1894-11-13
LOOKS MIGHTY CROOKED
MORE ABOUT TIE WORK or TIE
PR0ViDENT INSURANCE co.
Folk Miller Tells why lie Did Not Serve
as Fresident, and Secretary Jordan
Gives His short Experience.

lions and safeguards In the Virginia
law protecting the public against wild
cat and fraudulent schemes.
The laws Of virginia are. indeed, 80
lax that almost anybody can secure a
charter through the courts Tor almost
anything.
The Frovident Insurance Company. If
the reports OF reliable insurance men
and experienced attorneys be true -
Only one OF number IF similar com
panies which have been chartered IN
Virginia IN the last twelve months SOM SON.
have already gone the road OF ne
provldcnt " Others are stili IN operation,
ard still others are waiting Tor sooH
opportunity TO spring tnelr lrt9t.o'' D'''-
ness on an unsusptcuhs puD,l. 49,. tr
The matter Of obtaining chai tt.S ~
Virginia is so simple and easy thdt tuS
ola Dominion IS considered iIu ii,.,
field Tor adventures VINO "orN - ",,,',,
schemes and not long since an ATTORNEY
Gin this city IN the regular way OF DUST
ness obtained for a party in Philadelphia
charters for three insurance Co'nP@'i'eS
under rs many different names
TnO,E RICHMOND MES
Tho ,Rlcbmond gentlemen mentioned
I'm me Times report as having DeFn ON
GERS and directors IN The IroVideht
Company became so under evidences OF
a proper capitalization ana sOlNehcy' ana
Urittdrew as soon as there was the
slightest suspicion Of improper methods;
Daniel H. Fry. who lHdusuratcu lhe
scheme Of the Providcnt tlre lnsuld iiSc
sS,fnuauv was a commissioner from the
S,,r5 90 Wilmington 10 the Word FUR
Ills wife. Mrs. Alsora haynef , ~ - "a
woman OF culture and refinement WIFI
her husband was rough ana brusque 10
a disagrceablc degree. Mrs. Fry read seN-
eral interesting papers At me WoI!u
I'nir Congress. and the adoption Dy the
committee OF the Golden Rod as the ma
ti0uaI flower was attributed TO her 1T
erary efforts in that direction.
mir. e.. II. Jordan. OF Richmond, ~hlle
AZ the Worlds Fair applied for a bust
ness privilege on the grounds when lna"t
Il necessary to secure Judge Fry
signature. In conversation ne leaThtl ,id,
MIR Jordan understood insurance anu III
an adroit and confidential manner, thal
Il was his purpose 10 transfer the mann
Office OF the IrOvident Insurance ON
pany from Chicago 20 Richmond. ana INA
he desired 10 enlist the interest oi Ioca'
lie finally offered Mr. Jordan a salary
of $50 per month to act as secretary
of The company. Further inquiries con
ccrning Judge Fry were satisfactory, ana
left no doubt Of his honesty OF purpose
Judge DIV accompanied Mr.. Jordan 10
Richmond AT the close Of the Worlds
Fair The matter was presented 10 the
proper authorities. and. the necessary re
quirements being met, the chafter wa" a.,
granted. In the meantime Judge Fry, py
his representations. Interested number
Of Richmond men IN the enterprise. ana
everything seemed straight and honest.
POLK mILtER's sTATlMgNr.
Just how far one of these gentlemen
was Induced TO 90 H. explained IN me
following letter received from Winston,
November II, 1894.
Editor Times notice in your issue OF
yesterday that in speaking Of the Provi-
dent Flre Insurance Company, you men,
president. T. II. Cloves director. &c,
and that 1t only took them three months
TO discover that II was not All they had
expected IL 10 be, so they quietly with
drew Had you said three minutes
instead Of three months, you would have
stated the true facts. When first APP
preached by Judge % D. l.. Fry. ! was
told by him that hundred thousand dol
lars Of the VERY best collateral would
be- put mp. told him that If Mr. II. G.
Burnett, Of the First National Bank.
would pronounce his collateral as good
as In-te1 States bonds, ! would accept
the presidency, lie assured me that MIR.
BURNETT would not hesitate 10 do it, We
met for the purpose of organizing. and /
had Mr. j. ". webb Peploe with me as
my lel- adviser and when. the Judge
read out 10 me the list OF his securities
] told him tho ! could get that amount
Of "Gordonsyille Land Companys stock"
better than what ne offered. I withdrew
from the meetin% at once, and informed
all Of my friends In the insurance bust
ness 81 my action. telling them why I
pany.
- quite sure Ont when I had 50
thoroughly ventilated the wildcat"
scheme among Insurance people and To
an who asked my oniniOn OF the compauv
with "a view to iusuring with them no
one suffered loss bv the fact that in the
herinning. my name was used 10 obtain
the charter Respect f'llv.
POLK MILLER.
CLOVES AND JORDAN.
Mr. Cloves and Mr. Jordan also became
suspicious that the methods Of business
used by the ProNidcnt Insurance tompauv
were not compatible with honesty ana
open dealing, ana they also Withdrew
Mr.. Jordan, who had given much time and
h.s Itfs.is a
the company ana not having received
the promised salary, hung on for some
time, IN the hope Of receiving his money
II was represented to MIN that the poli-
cies OF the company were issued Oh sItxy-
days tim" aud that the premiums would
not come la until the expiration of that
period. The failure # thc company To
exhibit any cash for what seemed a good
business was the first thing that aroused
Mr. JCrdan's suspicious and he then with
drew, ana with the exception of few
lsed salary,
MIR. \. c. Haner, who is broker.
with an Office In the Womans Building in
Chicago, was the general manager of the
company lie is Mrs Fry's brother, as
her middle name would indicate. without
further evidence, and the supposition Il
mat ne held both ends of the financial
string. lie came 10 Richmond i'm the
beginning of the enterprise and stayed
here a few days. Later il seems he and
Fry had a row. and Hayner withdrew.
INV SECRETARY.
When MIR. Jordan lett the company Fry
visited New York and returned with "A
new man, named George H. Frey, who
was installed as secretary of the com
pany. Up 10 this time the business of
the company had been done principally
through insurance brokers With the
advent of Frey typcWriteTs were employ
ed and many thousand circulars were
sent through the mails seeking business
at very low rates from individual proper
" owners, and Frey told a gentleman
that they did a business amounting to
Sg.0o0 IN premiums during the month OF
July. In August Fry and wife left the
city. and Frey continued the business
AZ this time the unloading business
commenced later Frey became irregular
I'm his attendance at the office. being out
OF the city good deal. and the business
was left to the care OF "a clerk and type
writer girl. Now. as far as known. Mr.
j. Eldridge Hatcher. an insurance adj
juster. with an Office In room q. Chamber
OF Commerce, is sole custodian OF the
business Of the Provdent Fire Insurance
Company. aud he probably wishes himself
well ont OF n.
IL Is said that Frey approached Hatcher
and represented TO him that Judge Fry
wanted 20 sell his interest In the com
pany and that he was getting w a svndi-
cate TO buy Judge Fry out; that II Hatcher
would put up "a certain sum of money he
would secure the balance from Norfolk
parties and they would get control Of q
large amount OF premiums that would
soon come In from business already writ