Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-06-25
GOT A CHARTER HERE
The Atlantic Fire-InSuranCe Company
Created But NOT Organized.
rs SEEKING WESTERN BUSINESS.
Has Neither Omccs Nor Officers Here.
Gentlemen Whose Names Appear
How 1t Was Gotten .p.

Charters are gotten In Virginia with
| little difficulty and the board powers con-
| fcrred under them are not always uaed
| for the promotion OF the best interests OF
| the public. Especially has this proven
| true OF late with several insurance com
| panies. the laws governing which are
| not though, to he near as strict rs they
| should be- Only few months ago the
methods of an irresponsible company to
! which number OF well-known business
men had innocently lent the use OF their
! names as officers were exposed. ana 1t
was shown that unsuspectlng people IN
other States had been victimzed.
The New York Journal OF Commerce.
in It's Sundays issue. drew attention 10
the fact that the Atlantic Fire Insurance
Company. which was granted n charter
here over year ago. but has never
been licensed TO conduct business, Is try
ing TO place Insurance in the West and
Offering 20 pay brokers - per cent. COM
mission. The Journal stated further that
the company claimed 20 have 1900 90
capital. and $1,000 surplus. that It had
not mp 10 June lst furnished the Auditor
of Pubic Accounts with its statement;
that its advertising circulars did not
give the name OF an officer. director. or
stakeholder: that the janitor Of the Cham
Der OF Commerce. where its Offices We're
SAID to be located. knew OF no such con-
Germ.
THE CHARTER GRANTED.
Inquiry made by a Dispatch man at
f'fV Hall showed that tho Atlantic,
Fire Insurance Company was chartered by
Judge Il. r. Wexford. JT.. Of the city Cir
cult Court On vacation, February . 1891
Tn" capital stock was not TO be less than
$1,000 nor more than 100000; divided into
shares of s. each. The principal office
was 10 be in Richmond. and the officers
for the first year were to be: Harry Hu-
bor (presdenU. w. V. Glazcbrook C.ice-
PRESIDENT, Charles H. Chick secretary.
and the above and r. l.. Leinewehcr and
.. H. Glazehrook were 10 constitute the
Board Of Directors.
Mr.. Huber was seen NJ his residence, on
west Marshall street. last night. and pro-
nounced the concern TO bc dclunct say
ing that he and the other gentlemen
named MS officers had been persuaded by
Hubert l.. Smith. OF New Iork. who or
Sanized the company. to lend the use Of
their names. They soon become dissatis-
hed with the status OF affairs and drop
ped ont.
Smith came TO Richmond some time I'm
January 9f last year. and formed co.
partnership with Mr.. Kenneth Mccoy. Of
stanton. 10 represent the pequannocli
Insurance Company. Of stanton The
hrm engaged rooms in the Chamber of
commerce building. ana Mr.. Huber who
IS sign-painter was employed 20 paint
me irm-name on the door. and Il was
there mat he became acquainted with
Smith.
OFFERED THE PRESIDENCY.
Mr.. Mccoy soon withdrew from the
firm. ard Mr.. Smith. having decided 20
organize an Insurance company sen; for
MIR. Huber. and offered him the prosi-
cency and sscretaryship with tho under
standing that he would have little 10 do
and be paid well. lie wanted other young
men 70 take the other offices. and Mr.
Huber suggested the two Messrs. Glaze
brook VINO were paid each s. for the
use of their names. They withdrew with
Mr. Huber shortly after the organization.
Tho charter WAS obtained. but so far
as Mr. Huber is aware. IL was never
accepted, nor was the company ORGANIZED
under il. The statement that business
was being solicited was surprise 20
those whose names appear In the charter
as officers. as IL Vas also 10 Mir. j r.
Hatcher. the insurance broker who said
BE- was not aware that any attempt had
ever been made to begin operations. Alr
Hatcher told a Dispatch man that he
aid not think IL WAS ever intended that
business should be done under the charter
in Virginia.