The herald., 1897-01-10
RESULT OF INVESTIGATION
State Insurance Commissioner Higgins
Looks Into the Affairs
OF a Los Angeles Concern-Has Con-
.victions of His Own ard EX-
presses Them Emphatically.

The Bankers Alliance of California
was organized in 1885 with directorate
of prominent Los Angeles bankers. 1t
had for its first president the late DR..
II. Snsa baugh. 1t is now presided over
by Cen E. p. Johnson of this city. This
corpora ton Is a mutual Insurance com
pany and offers to the insuring public
a policy apparently very attractive.
With the strong local support and en-
dorsement. the company has had phe-
nomenal growth. 1t has al prese 1T over
400 producing agents and IS doing bust
ness in twenty-five states. 1t had upon
its books in 1895 at the close OF the in
surance year above fifteen millions at
risk
Our bankers found that this rapidly
growing business was making too great
demands upon their time and early this
year decided that the time had arrived
for the employment of men of wide ex-
perience and thorough education and
training as insurance managers, and ne
gotiated with and last June secured the
services of Mr. l.. Z. Replogle and Mr..
D. c. Merriam of Chicago as the active
manag gers of the Alliance. MI Replogle
has had many years active experience
as an insurance actuary and manager,
ard Mr.. Merriam has had an extensive
practice as an insurance lawyer and
has been very successful as an adjuster
for his insurance clients.
1t has been clearly demonstrated that
the vigorous methods adopted by the
new management were for the best in
terests of the policy holders, but compe-
tition and some antagonisns had been
aroused by competitors less successful.
Discharged employees are often 10th to
feel that silence is more precious than
words. AT any rate. the new board of
trustees was soon more or less annoyed
by various rumors, andlthe management
requested the state insurance depart
ment to make an examination, in order
that all persons interested might be in
formed of the exact condition of the
company financially and from the high
est and most authoritative source. Hon.
NJ r. Higgins, insurance commissioner
of this state, in accordance with the
above request, personally conducted the
examination and at its close expressed
himself with reference to the condition
of the affairs of the company in let
ter to Vice-President Replogle. Thelet
ter was shown to a Herald reporter and
the same speaks for itself and is as fol-
lows:
Mr. Louis E. Rep!ne'e, Vice President
Bankers Alliance, Los Angeles, Cal:
Dear Sir-I have carefully gone over
the facts and figures obtained by me
during my recent investigation of the
affairs OF the Bankers Alliance.
The business of your company is being
conducted in an economical and con-
servative manner and if con ntinued on
a bright future.
The annual statement of the company
will be verified in few weeks in ac-
cordance with the requirements of our
statutes. 1t is possible that l may have
at that time some suggestions to make
(although 1 do not anticipate any but
for the present have none, as am en-
tirely satisfied with the management.
Very Truly, M. r. HIGGINS,
Insurance Commissioner
Such an endorsement of Los Angelo $
enterprise by so prominent San Fran
ciscan is not only refreshing but is of
interest to every one Interested in the
success OF one of the greatest institu-
tions in our state, and ought to set at
rest for ever all doubt as to the perma-
nency of the enterprise