Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-03-31

tnIS CITY Suul pltntT prove lHut IT'S as
sets, which were given in the annual
sta tement, are good or that it shall go out
Of business. He has been investigating
the affairs Of the company since about
February LIST. and, although he has
learned a great deal the information has
not been of such n character as would
convince him that the assets are what
they arc represented to he. To-day he
sent to Attorncy-General White, Mt
Georgetown, such data as he has in his
possession, in order that Mr.. White may
know all of the facts when he is drawing
mp his bill to be fled in the court of chan.
Gerry, against the company, which action
has been asked for by Commissioner
Fowler.
Before going into the court with the
matter DIR. Fow.er gave the company
every reasonable opportunity to prove the
correctness of its statement, but up 20 the
present time its officers have not lro-
duced sufficient proof TO convince the doe
tor. He goes TO the court as the litst re-
sort TO compel the company to show its
actual standing and what its assets are
really worth.
A representative of Every Evening
called at Commissioner Fowler's office, in
Laurel, last evening. and asked him for
correct statement of the whole affair. He
began by SAYING that he had refused to
give the company a certificate of author
ity, and if the company is doing business
he has not authorized it to continue since
February list, when an examination was
made of the statement. which purported
TO he for the preceding period. The COM
pnny has charter from the Legislature.
which was granted at the last session and
prior to February LIST. DR.. Fow.er be-
l!cved that the company could do busi-
moss under its charter, without going to
him. Soon after the company got in
shape for business, however, at the re-
quest of its officers, DIR. Fowler gave a
certificate to the effect that il had COM
plied with the terms of the charter and
that II was authorized by the charter to
do business in the State. DIR. Fowler had
no means Of knowing about the condition
of the company, except upon the repre-
sensations made to him, as the time had
moi arrived for n report.
During the summer Commissioner Fow-
Ter came into possession of one of the
company's printed statements, which were
in circulation, and as soon as he noticed
upon il the item capital stock, $500
600" he wrote to the office in this city,
stating that he objected 10 the company
circulating such report as that. No at
tention was paid to the letter. AT about
the same time the doctor was compelled
10 answer number of letters of inquiry
about the capital stock. In his letters
he gave the information that the sub
scribed stock was $50,000 of which $25,.
600 was paid in. and that the $200,000
was only the authorized capital. In his
letter 10 the company in regard to the
100000 capital stock. he said he con
sidered it. il not false, misleading. Soon
after the letter of warning had been writ.
ten the company filed its annual state
ment, copy of which appeared in these
columns early in March. The statement
was filed with the insurance commits
sioner about January 26th, the law re
quiring that the companies shall file state
ments for the preceding yenr by the iirs
of February. As soon as the report was
received Commissioner Fowler and hi
son and assistant Edward NJ. Fowler
began an investigation, which to then
proved very unsatisfactory. Each item
enumerated in the assets was investiga
ned. and there are some of which n0thini
has yet been learned, although di!igen
search has been made.
In the statement the company claims Il
own real estate valued at $4,000. 1t Ii
described as follows: GAO acres in Ora.
county, Kansas, valued at $GiO; 1.OO'
acres in Washington county, Georgia
valued at $1,000; tract in Forres
county. Wisconsin. vauled at $1,000; lam
in Johannesburg, Arapahoe county, Colo
RADIO, valued at $3.50.
Concerning the tract in Forrest county
Wisconsin. W. w. Waite, recorder q
deeds in the county, in reply TO lcttc
from DIR. Fowler stated that there wa
pending at that time n deed for the trac
from Charles II. Robinson to the Com
mercial Fire Insurance Co.
DIR. Fowler. knowing that Branch II
Giles, formerly deputy attorney genera
of This State. is in Colorado, wrote TO hii
concerning the Johannesburg tract, whic
is represented to be worth $3,SB0. TIL
following reply was received:
Denver, Col, March 8, 1S0S.--Dr. EG
ward Fowler, Dear Sir: 1t has bee
rather difficult to gather facts in rclatio
Il 10 the town Of Johannesburg. There
no such town in the county of Arapaho,
Some years ago u man by the name q
Horner, alone or associated with othC
X lei Paso county calling the town site III
town site of Johannesburg. The tow
1 site was situated somewhere up in III
Il mountains. So far as | have been alb
n 10 ascertain, there has never been an
n building there. After making inquire
from a great number of people, | foun
that the existence of such town at an
time was known to but few people. l oil
1ainnh al nVnrpGsinn nf thn pn Inn al II
town lots in that town from real csta
gentlemen here in Denver, who is
competent to judge of such matters {
y any one whom know. He stated tn;
he did not consider that such lots won
be worth the cost of recording the deco
Of them.
Yours very truly.
afs Branch III. Giles"
In the statement filed with the insu
ance commissioner the following item
also appear: Loans on mortgage (du
4 recorded. being first liens on the fee sir
z pei, upon which not more than one year
interest is due, $4,000; value of LAM
IVA mortEaged, exclusive of perishahle il
movements, S200O0: value of buildinl
4, mortgagcd Ensured for %,T00), $1,000
The land upon which this mortgage WI
\ given consists of the following propprtie
IA 220 acres in MispiliOn hundred convey,
IS 10 Amos Cole by George =. May and vii
Is the deed being dated August ID, 1873
M 10T acres in AIispillion hundred, convey,
10 Amos Cole by Samuel Sherwood nj
wife the date of the deed being An
Hf 21st, 1884; two properties in Harringtn
w one, at North street and Winner avcnr
300 by $50 feet, conveyed to Amos &c
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