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Updated: May 20, 2025
The men who once could have come to him and frankly told him that the Guardian's Boston appointment was a colossal blunder were, like himself, grown insensibly out of the true current of underwriting affairs, while those who knew the truth lacked either the purpose or the opportunity to lay before him the exact state of affairs.
He knew and cared nothing about underwriting, regarding the insurance operations of the company as a possibly important but purely secondary consideration. In Mr. Bartels's opinion the company's records were the company. The underwriting department of the Guardian occupied, with the officers' quarters, the upper two floors of the rather narrow building.
"It's a company I'm going to organize. I'll tell you a secret, Murtha. There's a vein of gold runs right through my daughter Louisa's cow pasture she doesn't know anything about it " "Oh, hell!" exclaimed Murtha. "Come along to the station. I'll let you have the nine bones. And you can put me down for half a million of the underwriting." That same evening Mr.
He had become Vice-President and underwriting head of the company several years before this story opens, and it seemed probable that he would hold that position indefinitely or perhaps it would be nearer the truth to say until some more advantageous position lay open to him. Mr.
Some months before he had been sent to make a report on a coal property in Pennsylvania. He had made it under the assumption that the firm was thinking of underwriting its bonds. He had been mistaken. As owners Honaton & Benson had already acquired the majority of interest in it.
The second day of January, 1913, was marked by the installation of Samuel Gunterson as underwriting head of the Guardian and by the announcement of a radical separation rule by the combined companies of the Eastern Conference. Each was likely to have a far-reaching effect. Smith read the news with stolid eyes.
It is pretty well understood that you have had immediate charge of the underwriting of the Guardian for some years past, and they have been much more profitable years for your company than for ours." He paused. "The figures show that," said the other man. "I do not conceal from you the fact that we are not wholly satisfied with Mr. Wellwood's operations.
Cuyler, sternly, "you're talking nonsense. I tell you we don't write the class in my department, and I don't believe the agency department does. The Boston firm you mention has just been appointed, and probably they don't know our underwriting policy yet." He handed back the binder.
The premiums asked in insurance and underwriting, and the unprecedented advance in the bank-rate, corresponding as it did with a hopeless "slump" in every stock and share quoted on the Stock Exchange, from Consols to mining shares, brought business to a standstill in London on Monday afternoon. On Tuesday entire blocks of offices remained unopened.
Wintermuth's interested gaze his twenty-two per cent loss ratio for the Elsass-Lothringen, but in the next breath, recalling a few recent preliminary tremors unpleasantly suggestive of other catastrophes through which he had passed, and not to overlook a link in his entangling chain, he stated that after all, though, he was an American, and intimated that as such he sometimes felt he would a little rather devote himself to the interests of an American underwriting institution.
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