The sun., 1918-11-20
GERMAN INSURANCE
COS. WILL Be SOLD
Alien Property Custodian to
Sell Stock Of Big Concern
Tomorrow.
16 OTHERS ON SALE LIST
Millions in Premiums VIII
Stay in This Country In
stead Of Going Abroad.
16 OTHERS ON SALE LIST

An German insurance companies On.
Grating IN the United States and all Ger
man owned American Insurance compa.
MES soon will be In the hands OF Amer.
can citizens. Tho transfer OF these vast
German interests means that the millions
Of dollars in premiums which have flowed
yearly into German pockets will stay in
this country.
A Mitchell Palmer. Allen Property
Custodian. will start the ball rolling IN
the matter Of transfers OF ownership TO-
morrow. when he will sell at public aug
ton the stock OF the international In.
surance Company, which in 1917 had p
premium account of more than $1,000.
600. Sixteen other companies WHOSE
premiums in 1917 aggregated $l6.76l,42E
will be liquidated In the near future.
Mr.. Palmer is proceeding under an e..
ecutive order signed by President Wilson
on November IL giving him full author
lily to take over the assets Of enemy In
surance companies which have been In
process of liquidation under the!r own
management during the last year.
Herricl Is Liquidator.
Harold Herrick of this city formerly
president of the Niagara Insurance Com
pany, has been appointed by Mr.. Palmer
as manager and liquidator for enemy IN.
surance companies.
The stock of the International Insur,
ance Company. which is on the calendar
to be knocked down to the highest bidder
tomorrow. was owned by the Hamburg
Assurance Company, which was con
trolled by the Mutzenbachers of Ger
many. The Mutzenbachers were dom
mating factors in the German insurancr
and reinsurance cartel, the object OF
which was TO control the reinsurance and
insurance field throughout the world.
The companies which will be liquldated
Immediately. with their premium sc-
counts for 1917. are as follows:
Aachen and Munich Fire In.
surance Co. AK Ia Chspelle SS.o-stq
AllianZ Insurance Co. Berlin. saZm
Cologne Reinsurance Co............ l.6ss, sG -
fTankona Reinsurance Co.. Frank
fort ........................... IsoN- .
Co. Hamburg; OVERWHELMINGLY. 70SIr .
Lid, Vienna. .......,......,.......' eaM,r
helm ..,a;.,.......,........,......... 5.mtr;.1
Mercury Reinsurance Co,..:"...:.. 362OL@
surapce g; .::........,....,.:.',... Iz:o'r,9
c'united States Department
:, and Foreign Department"1..... GoT7.W
Hamburg doth fire and mariney
Offices :...;...............,..... s,@smsn
Berlin ...:.::....:.,.............., Zl,&o.
OF stettin.......;. ;...,............ L4S.7t'oo
Of Munich. ...........,.............. los. 900
o"lss National insurance Co... 2,7lh.ll2.W
Total SIS 7sl ~ N
Each OF these companies has contu-
ued to control Its own affairs for the
purpose of liquidation under a licens.
from the Treasury Department, but IT,
licenses were revoked yesterday az
liquidation will now be concluded unde-
MIR. Palmer's direction. Simultan euun
Herewith Mr.. Herrick took control
Pioneer in Reinsurance Field.
The Munich Reinsurance Company Is
the pioneer in the reinsurance field g.
this country. 1t is the largest conce-
OF its kind In the world and does bus
ness in every country In the world i,
controls several insurance and rclvsg.
ance companies, among them the Alua-.
Insurance Company of Berlin and tla
Swiss National Insurance Company.
Investigations carried on by the lrsu
ance division Of the Alien Property Gus
todians office, Of which William r
Scheide is chief, into the affairs ar
methods of insurance agencies eSs,
lished here by German companies. hav,
disclosed striking examples OF tie MOI.
ods adopted by the Germans u par0e'
e'e their control over the inSIrar..
business in this country Wills the ".
was on, and afterward, and the sli5,e"-
vience of their American representative.
even TO the extent OF CouCeamCnt an.
evasion Of the law.
The German insurance Interests had
their agencies Incorporated under our
laws before the war and continued the
business under American firm NAMES o.
with American corporate Franchise atJe-
the United States entered the wa.
The German insurance Interests wery
not content with limiting their efforts :,
representing their own companies To
organized Russian and Scandinavia. p"
insurance companies over which The
exercised complete control, ana h
means of pooling arrangements were sr-
abled TO absorb enormous volumes o.
American business,