The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-12-28


Insurance. Company. whose principal ONCE
10 at a. William street. and which conducts
a surety. fidelity. plate glass and bur xlary
insurance, business a. oil - an accident
and health business Of limit~i -s'~nt. was.
according tn tho statement Of D-c-mb-r
n. Ise. .;S shares. or tho .ntir~ issue Of
tn. Corporat. stock Of tho Title and 6naTan
tee company Of Rochester. The latter IL
New York insurance corporation author
lied To do q fidelity and a It'll. guarantee
business THIS corporation had. however.
been doI nant for some sine. C-rtam nut
gated matters preventing IT, dissolution.
4 l-as. Of IT. title plant Va = Roche-f.r
abstract company produced an neon.
which. ia addition To IT. other assets. RiN"-
this stoC shedding y value OF sids. aSs ont OF
the total assets OF the fina company Of
appro Nimatsly st.sp.@S
IoInci,isnt with an ncreas. Ia the capital
stock Of the .Erus Indemnity last spring
Robin s~-in- to have opened negotiations
for the purchas. from IL Of it, membership
OF tn. Rochs-t.r company About the
same time both companies rlecisd new
OFFICERS. former SuI~rint end.nt Kelsey be-
coming president of both. and AnthoOy
Stumpf and william Y iomaN. two repre-
sen atvr- Of Robin. becoming respectively
vice president and secretary The election
Of these gen tismen seems tn have been on
luton was passed directing the removal
Of the ONCE records and assets OF the
Rochester company to New York. and On
March 3D or n Charles " bay, the com
panys treasurer brought them 10 tina
ONCE OF the .ftna indemnity Company,
and later delivered them 10 Stumpf IN
Robin = ONCE. Thereafter thing- hspp~ned
the connected story OF which seems. PRIOR
70 IN. present Investigation. In har- been
I'm IN
men.
Orro " missy DipN'T KNOW
II appears that shortly prior TO this lime
Robin. a. one OF the witnesses SAYS. hah
stated that h.. would purchase from the
fina IN. stock of the Til. and GUarantss
COMPANY IN the strength OF this state
ment or proposition for Their" Vas no con
tract until In October. 1910 tho assets
OF the Rochester company were turned
over TO him on March 81. apparently bv
Vice President S'umpf and Secretary
I.omay. and with their assistance. with
out the knowledge OF President k"l-er
or tbs. other orrC~r- Of tn. two Interested
insnranc- companies. disposed Of and
manipulated A. Robin dlr~"'-'i
The only authority FOR transactions whi'h
have greatly depleted m. assets OF the
Rochester company. seems tn haN" been
Robins orders and a two-vear old r"Soln-
ton Of that Company's board passed. under
ano'her management. After March -
the ri,le and Guarantee company board
had hut one meeting. that in October. 10
declare a dividend S'umpf and l.onsaS
made no report at that meeting Of what
they mad been doing Indeed the present
inquiry was based on a faisif"ation OF the
ftna Indemnify pas-oook in Ih~ Northern
BANK The manipulation of the ho"he-'~r
COMPANY assets ~As no, then knoNn out
~. las.
ASSETS FROM ROCHESTER, USED
The dAv the securities of the Rochester I
company were put In Robins safe. or me
day following. hs exchanged s'."S
certificate OF New York city corporal"
stock for bonds OF the South shore lra"- !
ton COMPANY. no, then iS.u"d and which. /
so far a. the record shows. ~-r. evid"n"e'i
only by a somewhat MYTHICAL due hill. ,
until December u. and then only by type D
" ritten interim certificate. N. value or B
yaIidity Of which IL still prohi-matt'al ]
The ssI 90 New York corporate stock .
seems however. 30 have passed 10 the
South shore Traction COMPANY. and nov
to be held bv the comptroller at the city .
Of %.w York "a security for such company =
obligations TO Tho city In addition. 7
cash balance OF from si0OOo 20 SIS 0S as
used and good mortgage disposed OF. and /
thus an exchange for about $50 40 OF the !
-hond.- nj tho IA nv lon Railroad Compsnv
an Oil horse car I'm" .heh pehR OF r"'e
- " -, -, ~ .,.,,,,, ,,s.r,,,c.,. /
-. - -. hn,.y., poh,,
s.', -, to.. o., ....u,.
..,.,.,., 80. ,or a., ~, /
A., .,..,.',I,,,.,, 10, h,. ,na >or,b
n, 80, r., 80 On 81. ,r.u,,p,.
W" " 49,. -, 80 go OF,
t,,.,',. ..i,,.,,,..,,,
W Wv. ~ - - me-. -, IN. ..ns
-, ,no,,,, n.T,,.
So , 80, ,o|,L,,Oi,,,,,, -, "a.
~, ~ ."", ' 'r an, ,,,hn,, ,h. ar..
1, :, '',,n,,..,, say. S,,,n,, n,J p
Ional knowing hat wa- going on
" f--"'. M" ~" 7,.'.'
won "~N""' W
OF aPP'"N'''
,s>h $500
s,,rss and bonds alUsg
Ind-n plant -ohJ
Misc-Nsn-o .... ... ......
Tot, sIsO,DU
,-,-.,,,. - rat, nm,
anu P'a a'N u" -