Treharne - Business sold

mereasner Member Photo

Clipped by mereasner

Treharne - Business sold - Closed Insurance Firms' Owner Hits at Charges...
Closed Insurance Firms' Owner Hits at Charges Spencer Treharne whose insurance insurance companies were seized by the stale last week said today that his business was business was solvent and indicated that he will have an answer to the state's charges that will have "na- significance." The state's charges against the Treharne companies alleged that the companies were' operated in violation violation of the law and a temporary court order froze virtually all company company assets. : Mr. Treharne, who owns the larg- ! cst share in United Lloyd's and, United World Life Insurance Co j said todav: "The allegations con-I tained in the stale's petition are in error "This company is solvent and will prove so to the court." A hearing on a temporary injunction injunction is set in Austin's S)8lh District Court for Saturday. Mr. Troharnc said that another. man whom he called his partner in the insurance venture was not men- jtioned in the state's charges. Plans Announcement "1 won't mention his he is "A name, .... „„.,. a well known man," he said.j few other people also havei re, t, u interests in the business. Al"I may have an announcement- later that will have national significance. significance. "I can't release it now because it involves a question of timing. I also have to talk to my lawyers before making any specific answer to the charges. "El Paso is at the tail end of the state and we're from a Ions; way Austin. ! some interesting developments in this case." Says lie Always Paid Mr. Treharne, who was out town when the state's action was announced, defended the solvency of his business. "We have always paid our claim and bills." he said. of "We are current on claims and we've had no default judgments,' he said. "The charges were not brought on the basis of any failure "You can go outside and ask any of my employes to see if I'm an honest and honorable man. You should ask the people who work for me what they think of me. "All of our policies over S7500 are reinsured with Peerless Casualty Co. of Ktene, N. H. If we have n claim for $10,000 we only pay $7500 and they pay the rest. Has BIp Payroll "That way it's impossible for us to default. We have a sound business.. business.. "The people who will really be affected by this arc 40.000 servicemen servicemen and the people of El Paso. We a 5250,000 annual payroll and we do all our buying locally. El Paso needs this industry." Mr. Treharne owns" several sub- ' state's petition, sidiary firms which sell insurance o servicemen. The subsidiary comm panics were also named in the

Clipped from
  1. El Paso Herald-Post,
  2. 01 Feb 1954, Mon,
  3. Page 24

mereasner Member Photo
  • Treharne - Business sold

    mereasner – 24 Jun 2013

Want to comment on this Clipping? Sign up for a free account, or sign in