Evening journal., 1899-06-09
.FORD'S INSURANCE co.
The Economic Life Subjected
to Criticism.
ALLEGED UNLAWFUL BUSINESS

PERTINENT QUERIES MADE TO
STATE INSURANCE COMMISSIONER
DIR. EDWARD FOWLER AND HIS
REPLIES rHERETO-HE SHOULD
INVESTIGATE All ONCE.
Peter J. Ford must be man Who is
iawless in al of ihis instincts.
Not content with violating the state
and Federal statutes i'm the operation of
a lottery scheme connected with the
store Of the Schilling Dry Goods Com
pany. he is also said to be engaged in
an open and fragrant violation OF the
insurance laws of the state OF which
he longs to be the executive, and APP
parentGy would set at defiance the state
Insurance commissioner, DIR. Edward
Fowler, OF Laurel, Sussex county, who
mas made repeated demands upon him
to observe the law and 10 conduct an
honest and legitimate business.
The Economic Insurance Company of
America, a concern OF which Peter J.
Ford is the head, is declared to be doing
business in Delaware without Warrant
OF law, and without amy tangible proof
that it is able to fulfill the pledges
which it, through its agents, Is making
TO the public.
The public does not know whether It
has a reserve or no reserve. Its own
lagents are apparently ignorant of the
lcorpOration financial status. All they
know, and all the public knows, is that
I ffad
him in this enterprise have opened Of
lfces at Tenth and Market streets, put
out blazing signs and flaring advertise
ments. and sent about forty unlicensed
men out among the people TO say TO
them, If you will pay Peter ]. Ford's
Economic Insurance Company so
much week the company Will pay
r your estate so much when you are dead
/ and zone. We don't know just how
they Will do it. We DON'T know what
! becomes of the money we turn in every
lweek. The insurance commissioner OF
the state probably doesn't know, and
our folks won't tell him. for it is none
Of his business, this being a private af-
fair between our pO.icy-hOcders and
ourselves. But Peter J. Ford lis an
honest man, and If he tells you he will
do this thing he'll do it. His word Is
better than a reserve fund; better than
the deposit OF listed securities with the
j state insurance commlssi iCner; better
f than the publication of annual state
' ments of our condition by the state i'm
q surance commissioner. Our concern
is tine emily one i'm the state which is
. exempt from the provisions of the i'm
e surance laws, and our agents are The
only ones who do not have TO pay li-
j. cense fees. We have such men behind
t us that we are amenable to no law. ant
8, therefore we must be a pretty safe sci
l. Ito deal with when the law leaves US
!. free to do as we please"
): And then the poor suckers" alv
!. roped i'm and believe that THEY are in,
sured.
II AL other insurance companies in
u sure their Delaware policyholders bl
= making deposits Cf listed securities and
y reporting the state OF their busines.
to the state insurance commissioner
AN other companies take out license.
for themselves and their agents befOr'
ltransacting business in Delaware, ant
they are promptly lacked up by DIR
d Fowler If they fail to do so. But Pete
ie J. Ford, this political wonder; this lot
terry hacker; this new Napoleon of fl
N nance and lawlessness, sits serenell
4 back of the Economic Insurance Com
J. pany at Tenth and Market streets ant
IN transacts an insurance business of un
IN known kind and character. and sets a
itiance the laws of the state AMI
,e The demands of their executive agent
N DR. Edward Fowler. the state insur
c. ance commissioner.
ce TELL-TlA1JE CORRESPONDENCE
W The following correspondence wit
State Insurance Commissioner Edwar
Fowler. relative to alleged questionabl
business methods Of The Economic In
&c surance Company Of America, OF whlc
Sc company Peter J. Ford is president, ex
r plain themselves:
d. Wilmington. Dell 5. ?. 1899.
on DR.. Edw. Fowler, Ins. Com. Laurel,
L Del.
n Dear Sir: I am Informed that the
TO Economic Insurance Company OF
nd America, with their home office In
r. this city, claims to be fra aternal or
ganizatiOn and are therefore not re-
&C. quired to report to your department.
ly I am also Informed that II a. charter
A. remains unused for two years from
date of its issue that 10 becomes void
re and Of none effect. II you will inform
me as TO whether or not / am cor
rectly Informed on both subjects
will consider II great favor Hoping
to receive the desired information at