New-York tribune., 1895-09-24
FINDING UP A QUEER CONCERN
THE GERMAN FIRE LLoYDs HAS NO OFFICERS
AND WAS NOT NORTHUMBERLAND 1T is

THE GERMAN FIRE LLoYDs HAS NO OFFICERS
AND WAS NOT NORTHUMBERLAND 1T is
GOING OUT OF BUSINESS.
The German Fire Lloyds OF America. having Its
"home Office" at No E6 Pine-st.. and against which
suts have been brought or are pending. Is winding
IN its affairs.
In 1892 an agreement was signed by several men
TO do business as the German Fire Lloyds Oh
America This agreement called a charter
Later IN 1892 a law passed forbldding 'hat any
more such agreements be made. This gave the
agreement cash value. and 1t was pouSht ny
Elwood Tiffany. an insurance broker Ai'er 'he
agreement had reposed in Mr.. Tlffany's safe dur
ing 1se3 the German Fire Lloyds Of America was
put in active operation. Clarence Seward and
Harry Morris. known at Seward q Norris were
attorneys for the underwriters. Subsequently the
firm of attorneys changed TO seward q 'o''
Mr. Tiffany being the "Co.
Certain subscribers underwriters we're Sc
cured by Mr.. Seward They allowed their names
to be used in policies as guaranteeing the payment
OF da IMAGES hereunder In proportonate parts.
Sometimes they resigned the list Of underwriters
seems to have been kaleidoscope OF names Tnese
subscribers TO get 70 per cent OF all premiums
and pay damages and get their profits therefrom'
and 30 per to TO the attorneys VINO
paid running expenses and took the balance for
Their trouble. The subscribers gave the attorneys
full power for them. and the policies declared
that suits at law must be brought against these
attorneys. Among the subscribers at various times
az shown by the books Franklin B. Crouch.
manufacturer OF patent medicines; &. +. Belts.
bond broker: Seward & Co., insurance. Chester NJ
Foster retired merchant: William a. Fensley
paper warehouses: Sidney j. Everett, agent OF the
Lancaster Paper Mills: Charles o. Andrus, Western
National Bank; John c. Wilson, drugs; William r.
Appleton. electrician. and Edwin G. Davis. lawyer
all Of this city. and Charles II. Perne, drugs OF
Jersey City.
Mr.. Tiffany SAYS Mr.. Seward knows all about the
underwriters. Mr. Seward has deskroom in an Of
flee in the Central Building A Tribune reporter
waited for him there yesterday for twenty minutes:
did not appear, did any else. To make a
long story shorter II is best TO quote Mt Tiffany as
follows:
THE company is not doing anything now. ! am
simply going the books to wind up old a1airs
About nine hundred policies were Issued, i think.
there was a Finance Committee but 1t resigned
for various reasons at various times. Seward Il Co.
dissolved partnership the twentieth or this month";
and the concern has no attorney at all: The
OF the company between N,Oo ana
S2OOO n year. No the company had no officers as
as officers. Business done under individual con-
tracts" -
Mr.. Tiffany hopes TO reorganize the business. with
new underwriters and new attorneys as he owns
the charter. Sanders Gray are attorneys for two
underwriters. whose names they decline TO give, In
a suit brought by Samuel W. Patterson, as trustee
for Aaron Brag OF Baltimore to recover sums OF
So, being shares OF liability under loss OF $500
a summons and complaint In the case have been
Issued. returnabe this week.