New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-12-07
RTMORS OF TROUBLE DENIED
GERMAN-AMERICAN INSURANCE DIRECT
ORS TALK

THEY SAY THAT THERE ARE no INTERNAL DIS
sENsIoNs IN THE COMPANY AND THAT
THEIR RELATIONS WITH MEssRs. PAT
TERsON AND CLAPKE ARE AMIcABLE.
Rumors which for the last few days have been
busy in the Street with the affairs of one OF the
biggest insurance companies OF the city came 20
a head yesterday with the report Of actual in
terna dssensons and radical internal rearrange-
ments that to make sensation in CONF
mercial circles The German-Amercan In
surance Company, the story ram had not
found everything plain sailing OF late. The
trouble was supposed 10 have begun some time
after the German American Insurance COM
pany absorbed the Clinton Insurance Company
Of New-York At that time George T. Patterson
and Charles NJ Clarke. of the latter company.
who had paid especial attention to the insurance
Of tanneries and had acquired considerable
familiarity in that branch, became active mem-
bers Of the German-American. 1t was said.
however. that the consolidation had not been
mutually beneficial or agreeable to either Of the
parties interested. The president Of the COM
pany Is Emil Oelberman. who lives most of the
time in Cologne Germany. In his absence the
first vice-p e-president, John ". Murray, has been
acting president, and further rumors hinted OK
dissatisfaction with the management James A.
Silvey Is second vice-president and secretary.
The board OF directors includes many men OK
prominence in this city and Brooklyn, among
them Charles Stewart Smith, Joseph H. Choate.
Lowell Lincoln. Charles f. Ackermann. f. J.
Allen. Austin u. Baldwin. Louis r. Dommericn,
Gustav H. Gossler, c. + A. Hnrichs. Charles
A. Hoyt Charles r. Isham Woodbury. Langdon,
Charles Mali and Charles Ffzer.
Mr.. Silvey. when asked about the rumors yes
terday afternoon by Tribune reporter. said that
he knew OF no trouble IN the companys affairs
When asked If there had been or were to De
any changes in the company itself that could
have set the report in circulation. he made this
statement: MIR Patterson and Mr. Clarke, who
have been connected with the Clinton insurance
Company and the German American insurance
Company for some years, nave FORMED an agency
and brokerage firm and will begin business on
their own account on the lst t January next
They will pay special attention 10 tannery IN
surance with which they are very famillar.
Mr.. Silvey said that the withdrawal was perfect
IS amicable on all sides. .
Charles Stewart Smith Of the directors
and a member of the Executive Committee. also
denied the story of internal trouble. MIR. Pat
terson and Mr.. Clarke. he SAID, nave peen IN.
.erested in the tannery branch or insurance. ana
when we absorbed their company we took that
up too. We found. however. that 1t did not pay.
John w Murray. the acting president, has been
granted leave Of absence on account or illness.
There has been disagreement with Patterson
and Clarke These are :he only changes know
OF and / should know II any one did. At any
rate 1t Is rardly matter that the public would
be interested in
Joseph H. Choate said that he had heard moth
ing of any trouble, and Charles II. lsham saio
the same
Austin r. Baldwin said that the story was
news 10 him. "becaus, " he said. we nave ai-
ways been happy family together rhe gen.
eraI attitude Of the directors seemed TO be one OF
surprise that such reports should have been CIR
culated