2,500,000 bogus securities and 10 patrol wagon loads of
books, papers and literature seized. These companies paid
no losses, and there were, it is estimated, 1,000,000
persons who had taken out fire insurance policies in these
wildcat companies.
They had sustained fire losses and were not indemnified.
The conservative estimated loss by these wildcat insurance
companies is $10,000,000.
$200,000 of lost and stolen property was recovered and
returned to the owners by Detective Wooldridge.