Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-12-16
IS OLD AND HONORABLE
THE SOLID FRANKLIN FIRE) IN
sURANCE COMPANY.
Its Charter Was Signed in 1918 by
President James Monroe and
Henry Clay.

She Franklin (Fire) Insurance Company
Of Washington. D. c.. was chartered by
Congress April 0, 1915 and was the first
Of the kind here established. The charter
act bears the signatures of Henry Clay,
Speaker Of the House Of Representatives;
John Gaillard President of the Senate pro
tempore, and James Monroe, President Of
the United States. The original term Of
the charter was for twenty years. and re-
newals have been procured regularly for
similar periods.
This standard old company Is a veritable
business landmark of the District, and its
stability and the probty of its mana gers
have never been In question. Among its
first stockholders. when the city OF Wash
ington was in Its swaddllng clothes, were
men prominent in national and local affairs.
and the descendants of some OF them
still hold shares In this company.
One of the brightest pages in the history
OF this solid old company contains the COM
plimentary and comm endable statement of
fact that during the eighty-four years Of
Ats existence the Franklin has never con-
tested a claim nor failed to pay a regular
dividend semi-annually. Such a record Is
Indeed one to be proud of. The excellent
standing of this old company is evidenced
by the high class of gentlemen who COM
pose its present officers and board of direct
ors These are: President, Dr. Daniel b.
Clarke; treasurer, Mr.. Charles S. Bradley;
vice president. Mr.. James l.. Norris; sec
rotary, DIR. w. p. Young. Directors
DR.. Daniel B. Clarke. Messrs. Ralph L. Gait.
Alex. Porter Morse, James +. oyster,
Charles S. Bradley, Benjamin w. Guy,
James l.. Norris. Thomas T.. Waggaman,
w. Taylor Birch, s. II. Kaufman, George
Ryneal jr., and George Wright.
The act of Congress creating the Franklin
Fire Insurance Company away back In 1918
provided that a subscription be opened in
the city OF Washington for raising a
capital stock of $4,000 in shares of So
EACH and that soon 5000 shares had
been subscribed the stockholders would pro-
coed to the formation of the company by
the election of officers and a board of di-
rectors of twelve shareholders. The com
pany was formed with but $4,000 actual
cash. While S12J 600 had been subscribed
100000 OF this amount was in negotiable
notes At that time the population OF
Washington was not over 10000.
The first offices OF the company were To-
Gated in the building on the north side OF
streets known as Davis Tavern. They
were later moved to a room in Gadsby 5
house on 9th street. After other changes
the company in 1895 purchased the present
handsome quarters, 4l9 10th street.
On December 81. 1901. the books Of the
company showed the following assets and
liabilities: Cash on hand and in bank
&5.T5J.I0; real estate owned by the COM
pany, ST2,03S.20: mortgages (irst lien on
real estate), Sl60, $50; stocks and bonds
(market value) S56, 207 50: bills receivable
500: premiums In course of collection
1888. 6S; accrued interest, 49, 62 80. Total
S29S TAT. Sc.
Liabilities-Cash capital S125, 600; un-
earned premium reserve. $14.MI.93; rein