The Washington herald., 1908-08-27

/ The Consolidated Casualty Company IS
/ The name which a new SzC00.oo5 Insurance
company 90 be started IN Washington will
bear Plans for its organization are vel
| advanced. and II is now expected that the
new company VIII be doing business early
/ in 1903.
L IS seeking permanent home IN the
uptown district. and viii probably be To-
Gated in Fifteenth street. between Penn
sylvania avenue and z street Options on
one or two pieces % available property
have been obtained. ard # was announced
last night that when the time comes for
organization the company VIII not want
for a suitable home or for capital with
which 20 inauEurate one OF the largest
casualty companies IN the United States
Tire name OF the Consolidated Casualty
Company was chosen because a large in
sttution already in existence and doing
business f. another city is 10 Dc brought
% Washington and consolidated with tEe
local enterprise. and win form the basis
OF the enlarged business which the mana
gers Of the enterprise expect % transact
Local Interests Taking Hold.
Within the past few days J. A Manning.
OF Boston. has been presenting the plan
20 local investors and has met with such
encouraEement that he and those as
socisted with him feel justified IN making
the first announcement OF their plans
seven members OF the first board of
directors have already been selected.
TWO OF these are web known business
men ot Washington. Another has his
home in Knoxville. Tenn hu- has large
financial interests IN Washington. An
other has financial interests In Wash
inEron and Philadelphia Three are men
NJ prominence iu financial affairs in the
city OF PhIa6eiplia- Their names are {
withheld for the present as the final
board OF directors is On De composed OF .
thirry-three members several Of them F.
Washington frauciers and business men. +
and the announcement Of names con
nectsd with the enterprise viii come .
later.
The Co1soI51te5 Casualty Company I
VIII be IN name and IN fact a concern /
similar 20 scores Of others in The great /
commercial cities which are already
IN Washington in branch Of /
fees II viii write fidelity bonds. court
contract. and surety bonds various kinds +
o. policies including accident. liability.
plate glass. automobile health. and eIe-
vatCr Insurance. r viii insure against
loss for the druggist. the landlord. the
physician The dentist. workme1-s wages.
and bank deposits
Congress has passed a new employers
ability act. which VIII recessitare the
taking out of thousands of liability poll
,ies by employers OF labor, and this class
NJ rrre-~e-ze Fe p. 44r ., .
7f the proposed concern
Both Local and National
The Consolidated Casualty Company IS
b be local in place and uanaEene7t and
wiz have local stockholders 20 the ex-
.ent Of S26oooo worth Of the stock. but
z is 10 be at the same time national in
scope. by having its stockholdincs held
N other grest ceuters OF trade and
finance 10 the extent cf about $4,000 in
zach Of the big cities cf the country.
The directory viii represent men actually
insured in the institution and viii have
p il every leading trade and ENTERPRISE
nat may contribute 70 its business.
The capital stock of the company will
'e 10000 shares Of a par value Of $50
ach- They VIII be paid-up shares ex-
ept that subscriptions ara being taken }
N a basis Of s. a share and s. month c
or nine months. Enough of the s-o.l.
viii be taken and paid for outright. how
yer. TO ensure the organization OF the
ompany at such time as may be found
onvenient 20 open the offices and begin :
peratons in a practical. way. A good e
cal Of the stock is being taken and paid 7
or st once. insuring the company a large {
apital with which ~ begin business.
|~
More than forty hrus and business G
ouses in Washington have already IN
orsed the enterprise By taking stock
r obHgatins themselves TO do so. The 2
Ian already has the sympathetic ap-
rovaI OF the business community. ans II o
as stated last night that in making its :
.itial announcement the company feels d.
self upon safe ground and certain Of 3
Itco0ne. It Is NOT yet definitely decided
hen the company VIII open its Offices q
N affairs are now pointing 20 one OF -
ie early months Of next year as the a
ne.
While the company IS planned as
3tional institution il viii he co-opera-
We in that stock wil1Ahe sold 10 these
no actually DO business with the com 2
any. For instance. business concerns a
no may be carrying large lines Of FIRE. :
'suaity- plate glass team. and elevator :
surance. by becoming stockholders. wrl :
ace their insurance IN their Own COM =
Any and viii in the way Of dividends :
ap reward for their premium payments. :
VIII Obey District laws :
The company viii be organized in com :
lance with the laws of the District Of !.
0lumbia. II VIII be the central nsad- :
larrer~ Of one Of rhe hia e.az71sf-,- con, Z