Evening journal., 1899-06-29
DIR. FowLER,s Duty.

Oai9 ANSPuHASoA w ~@-f t-~ AS'AS"
ing:
Insurance Commissioner DR.. Fow-
Ter, of Laurel, says he is perfectly sat
isfied in his own mind that the Eco
nomic insurance Company is solvent,
and he intends to issue to the COM
pany authority to do business in the
state, and would have done so by this
time il the fire had not taken place,
which has so scattered his insurance
papers that as yet he does not know
where to put his hands on them.
He said he had assurance from Dep
uty Attorney General Peter u. Cooper
that the company was doing a legiu-
mate business. He came to the city
and called at the office Of the Eco
nomic Company and was given every
facility to examine their books. Moth
ing was concealed from him by Mr..
Peter Horty, who was only too willing
TO afford the insurance commissioner
all the information desired.
That editorial has all the earmarks
Of an effusion sent out from the office
of the Economic Insurance Company
and of being well paid for to secure its
publication.
It is such a senseless thing
that we cannot credit State
Insurance Commissioner Fowler
with having inspired It. To begin
with before an insurance company be-
gins to do business in Delaware It is
compelled by law to do certain things,
and those things are transacted be-
tween it and the state insurance COM
missioner. He is intimately acquaint-
ed with the law and knows whether
or not the Economic Insurance Com
pany has complied with its conditions.
II II has it is doing a legitimate Dusi-
ness, and should occupy a place in the
published list of companies legally au-
horized to do business in Delaware. II
1t has not done these things, the state
insurance commissioner knows It, and
he further knows that it is his duty
to prosecute its officers for doing an
illegitimate business. It is for the in
surance commissioner to determine by
his knowledge Of the requirements
and the compliance or Noncompliance
Herewith whether the Economic In.
surance Company Is working along le.
climate lines. What has Deputy At
torney-General Cooper to do with Ii,
Has DIR. Fowler delegated to Mr.
Cooper his discretionary powers il
such matters? It is for DR.. Fowler t,
decide, and for Attorney General Whit,
to prosecute.
We have several questions which ",
would like DR.. Fowler to answer.
When did the Economic Insuranc,
Company begin business?
When did it secure from him author,
ity to do so?
When did it file the several papers
essential to such step2
When did it secure licenses for III
agents?
When did it file its financial report
for 1898?
Why is it that Il does not figure il
his annual statement of insurance com,
panoes doing business in Delaware?
What was its insurance in force OF
December 81, 1897?
How much insurance did it write IL
1882
How much Of its insurance termi
mated in 1898?
How much Of its insurance was II
force on December 81, 1898?
What were the premiums and assess
ments received2
What were the losses incurred?
What We're the losses paidg
Has II legal reserve. and. II "a
what does it amount to and how il /
secured?
These are questions which the lay
requires the Economic Insurance Com
pany to answer for his information
and him to publish for the public in
formation.
The people Of Wilmington want +
know these things about this insur
ance company before they pay an
more of their money 10 i
Il has agents importuning tn
people to take its policies. tn
people are entitled to know whethe
it is in the heyday of prosperity. in.
making both ends meet, or on the vere
OF bankruptcy. If State Insurance Con
missioner Fowler has examined Ii
books and has satisfied himself. I,
him satisfy the people The above ed
torial in the Daily Republican WI
never inspired by DR.. Fowler. He h,
too much sense to throw such cha
as that to the people. They want fac
and figures, with his name appende,
not an illogical conglomeration III
the Daily Republican article.
The state insurance commission,
has a duty to perform. Let him do
Public interest demands that the hna,
cial responsibility Of the Economic L
surance Company be established b
yond all doubt