La Junta tribune., 1905-06-24
LICENSE or HAIL COMPANY REVOKED.
Insurance Commissioner Not Salts
fed with Methods of st. Paul
CORPORATION.

Auditor Bent. in his capacity a.
state insurance commissioner. Sat
urday. revoked the license of the St.
Paul Mutual Hail and Cyclone Com
pany. which will prevent it doing
any further business in Colorado.
Mr.. Bent states that complaints and
inquiries have been coming in for
several weeks regarding the COM
pany The agents have been repre-
senting to the farmers that they
have a deposit of money with the
state auditor which would guaran-
tee payment of losses TO the policy
holder This Is not true. Mr.. Bent
SAYS, as he has no such fund.
Two companies have been licensed
to do business in the state which
insure loss by hail. both of them
with headquarters in Minnesota.
Last fall, there was great deal of
trouble after the crops were made
in adjusting losses of this nature.
and this particular company was not
permitted to continue until certain
money was deposited with the audi
tor and paid TO the policy holders.
There are only few weeks in the
summer when the crops are in
danger from hail and that is the
| time when the agent reaps his har-
vest, because the farmer is ready to
take chances. Upon receiving afii-
davits that misrepresentation was
being made. the auditor determined
I that the best way to protect the
public was to suspend the license.
The second company is said to be
perfectly responsible.
The st. Paul Mutual Hail and
Cyclone Company has been doing
business here without having any
established representative. The
other company to which reference
! is made in the extract is the Park
Region Mutual Hail Insurance Com
pany. Of which Mr.. X. W. Patter-
son and Mr.. c. l.. Seeley are the
Representatives at this place. Those
! farmers who wish 10 consider this
question seriously will do well by
calling on Mr.. Patterson or Mr..
Seeley and have them explain one or
I two points about the management
I of the company which they repre-
sent, as against the other. The
COMPANY having now lost its license
| to do business in Colorado, the
I different farmers who have insured
with il are left without protection
and should Immediately re-insure in
a safe, sound and conservative com
pany. such a. Is represented by Mr..
I Patterson, at the First National
. Bank
An opinion. as 10 the liability of
[ farmers who have insured in the
[ defunct hail company. by Richard
Mcknight. of the firm of Kingsley
Z & Mcknight, attorneys-at-law. Den
yer. is as follows:
DENVER, June 10, 1905.
Messrs. Whitfield & Co. Agents for
I the Park Region NJ n. |. Associ-
alton. Denver.
Gentlemen: Responding to your
request for my opinion a to the
. liability of farmers who have in
sured their crops with the St. Paul
Mutual Hail and Cyclone Insurance
Company. | beg to say that ] have
been informed that the state officials
Of Colorado have revoked the IL
cense of the said st. Paul company
and they can no longer write insur-
rance in this state.
One who has been induced to in
sure in that company by materially
false and fraudulent misrepresenta-
tions of fact may repudiate the iu-
surance contract and will not he
bound to the company for any un-
paid premium. Yours truly.
pr.-tIxpn MCKNICuT