The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-04-06
ADMITS THE GUARANT0RS
Result of Dearth's Investigations OF
Philadelphia Company.

Insurance Commissioner Dearth has COM
pleted an elaborate review Of the investiga-
ton he made into the affairs Of the Guar
antors' Liability and Indemnity company, of
Philadelphia AS a result the Guarantors will
be allowed to do business in Minnesota I'M
til another examination has been made. Mr..
Dearth found the total net assets of the COM
pany to be 81, 17S 1881, with total liabilities
including capital stock, Of $1,1O0, 1887, thus
giving the company net surplus beyond CAPT
tai stock and all other liability Of $7S,04004
The report then goes into details about the
conditions of the various items to which the
department took exception when a renewal OF
license was refused on the report made to the
state department in February, and concludes
follows:
AS a result OF this brief examination, I am
thoroughly satisfied of the company's SOL
vency and consider that by the deduction Of
the $223, eco from their assets, as itemized in
the above schedule, l am taking q very con-
sentative stand, far as it effects the COM
pany's financial showing. There is, however,
a question Of some doubt as regards the value
of certain collateral securities which the COM
pany holds, but with the understanding and
assurance ON the part Of Manager Lopez that
a thorough and detailed examination of the
company's affairs will be made within the next
few weeks by the insurance department Of
Pennsylvania. in conjunction with the depart
ments of two or three other leading states, l
am satisfied to grant a temporary renewal IL
cense authorizing them to continue business
in this state pending the result of said thor
ough examination.
1t is not out Of place to state that l found
the books and records of the company to be
IN excellent shape, especially those Of the
claim department The claim registers show
a very small percentage of unpaid claims,
especially for company with such large
volume of business, thus indicating that their
losses are adjusted and paid with an I'M
usual degree Of promptness. The official at
the head of this department is to be COM
mended for the able and efficient manner in
which he handles his particular branch of the
business, and takes just pride in exhibiting
his records. The personnel of the managing
board of the company certainly appears to be
very strong, Manager Lopez having associated
with him men of much prominence, both in
the financial and political world. 1t would
appear that there should be no stronger
evidence of Manager Loper's good faith in his
official acts, effecting the interests Of his
company than that of the very large sums of
his personal funds which he has placed at the
absolute disposal Of the company, he person.
ally surrendering all right or title to any
part or portion of same, as evidenced by the
company's official records.
If the combined examination. to be tnsti-
tuted within the next few weeks by the sew
eral insurance departments, as above cited,
results in giving the company a clean bill of
good health (and through my brief examina-
ton anticipate this result will be shown,
the future success of the company. undre a
conservative and economical management,
should be assured.