New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-04
$62, 900, 900 of Assets In.
vested in Imperial Gov.
eminent Bonds
Many Claims Unpaid
Teuton Companies Failed "a
Settle in Full After the
Frisco Disaster ;
Iron ras Tfiouas BuresnY

Washington, Aug. 3.-Sixty-two min.
ions Of the s6s,ooo,oOO Of asset. Of Gen
man fire insurance companies doins
business in the United States ara IN.
vested in imperial German government
bonds, a high authority declared 10,
day. This authority said:
There is a good deal Of nonsep,d
about the talk Of needing German N,
surance companies here TO provide "a,
conhagration hazards. The assets II
the German and Austrian insurance
companies in this country are about n
cents for each $1,000 at risk, with NJ
resources at home available for tn
payment of losses, and what resources
they have are practically worthless, N
the bankrupt condition Of their coua,
tries now exists.
Failed to Pay Claims
Their record as guarsntors agsinA
confsgration was we'll revealed In tht
San Francisco fire. The German CON.
panies and companies Of German asilh
atoms In this country paid the follov.
ing amounts in the San Frsneises
losses, according to the official reportsf
"Aachen and Munich settled most Of
its claims at rs cents on the dollar.
Austrian Phoenix paid nothing.
"Bufalo-Germsn paid rs to 80 pei
cent.
"Concordia, 70 10 30 per cent
German, of Freeport, mostly at %
per cent.
German, OF Peoria, so per cent.
German National, so per cent
Hamburg Bremen, 76 per cent
milwaukee Mechanics, 10 per cent
North German denied liability ant
withdrew from state after settling
claims Of $500 or less on so per cent
basis.
"Prussian National, rs per cent.
"Rhine and Moselle paid nothing.
TRADERS, Of Chicago, compsn9
strongly affiliated with German inter
ests, paid 60 cents on the dollar snd
went out Of BUSINESS.
Trans Atlantic, Of Hamburg. paid
nothing.
at is all idle talk Of the necessity Il
German insurance companies In this
country. There is no need OF them;
on the contrary, they are a menace TO-
the business Of the country, as thsf
maintain here assets only equal 70 "
cents for each $1,000 Of risk, or leo
than one-tenth the amount msintsins6
by the companies associated with hen
In the business and the companies th4
are accepting their policies as reinsvr
ance. What funds they have In Ger
many are not available, and II th4
were available would not be worth y
cents on the dollar.
"The action of the Lawyers Mofs
gage Company will be followed "
other financial interests Of importsna
II they have an eye TO the interests q
their clients. The fact that many d
the German companies are representa-
by Americans makes no difference
most of them have unnaturalized Ger
man representatives at the home oMess
here, and their inspectors have seeesa
to the munition plants and other .ish
manufacturing supplies for the United
States government.
Won't Seize Assets
"No proposition has been made ~
any one TO seize the assets OF thss
companies. The assets are here, and
will be held until their liabilities rus
out, as are the assets Of the Americsi
companies which formerly transacted
business in Germany, which is now Is.
terrupted by the war. The better clvs
Of American companies and compsnis
of high standing have elmos. univsr
sally discontinued their reinsursrs
treaties with these people.
at gives encouragement 10 the enemy
to have German companies Representa-
here by several thousand Ameries
agents. The patriotism of the sgenss
without any solicitation, caused Ties
all to return their supplies. II the l0
will not drive the companies out, pope
lar sentiment should force them out
ave are at war with Germany. s<
the whole country should wake up y
the fact"