Show FORCED TO WAll BY GREAT FIRE Traders Insurance Company of Chicago in the Hands of ofa ofa ofa a Receiver LOSSES NEARLY I ASSETS ARE HALF A MILLION LESS L ESS Chicago May 5 Byron L Smith president of or the Northern Trust com corn company company pany of this city was today appointed receiver for the Traders Insurance company by bp Judge Julian Mack in inthe Inthe the th circuit court ourt of Cook county The company comp ny is one of the largest fire insurance companies in the west and its distress is due d e to the heavy losses it sustained In the San Francis Francisco co fire the amount of which was stated ip it the application aI for the receiver to tobe tobe tobe be approximately It was stated in the application that the assets of the company will not ex exceed exceed exceed In addition to this tills the company is indebted for fire losses and upon other claims to an amount aggregating All of these losses are unpaid The application for the receiver was made in behalf of fifteen stockholders including John A King Clarence Buck Buckingham BuckIngham Buckingham ingham Charles L Hutchinson Abram Poole William C SeiI D and George Sturges all of them wealthy men menThe menThe menThe The order appointing Mr Smith re receiver receIver receiver also restrains the company from doing business in Illinois until after the termination of the receivership Mr Smiths bonds were fixed at 2 Objected to Assessment It was known yesterday esterday that the com corn company company pany was in trouble but it was an announced announced flounced and believed that the matter of its heavy losses in San Francisco could be arranged by an art assessment against the stockholders It was decided that this assessment should be a share and as the stock stockholders stockholders stockholders holders are all wealthy wealth it was believed that the trouble was at an end Today however some of the stockholders ob oh objected objected to the assessment and it was decided to place the company in the hands of a receiver The company has an aggregate amount of outstanding policies of and the court was Informed that its present unpaid losses exceed the to total total total tal assets by more than The officers of the company are T TJ TJ TJ J Lefens president S A Rothermel A tar and andS S T Collins assistant secretary s |