The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-08-09

s1ce report Of the 1st instant the supply has great
VI decreased and prices have declined cents per
Heavy lots lying IN New FORK and here limited 81
per and the market having reached that point during
the past few days tits fact taken in connection with the
paFage through the House or another bill granting
and half mil on OF Of land for railroad purposes
las bro eht about The sudden decline Mos, of the deaf
ess here New York refused buy yesterday and
others purchased reluctantly at quotations. The bin
DIE for The reserved railroad grants
public sales intended 10 enhance the value OF
rants bot i + Low believed by the friends Of the mea
sure that PASS this session TIE confident belief
that the bill would become law great hrmness to
the market but holders yielding to tbs general opin
that the bill will lail throwing their warrants
which tends also 70 depress prices; and
the demand West will Gail OF until the lands
Kansas aud Nebraska brought into the market and
the reseryedi econs railroads restored welook for
a further decline.
II may be in the recolecs ion Of such OF our read
ers as take an interest In life insurance companies
and they s.e large number-that last February
petition presented to the Senate at Albany from
some few OF the members Of the Mutual Life Iasur.
ance Company, complaining TO q certain extent Of
the management Of the company, and praying for
an inquiry into its affairs The senate declined to
sppoin, the commttee--ihe general impress
sson being that no case was made out In the
petition to warrant Legislative interference.
The trusteees OF the company, however,
were sensitive at any insinn,tion being made
agDins. the integrity Of the manag ement, and they
presented contemplation, denying the truth OF
the representations made by the d :st petitioners,
and Inviting a thorough investigation, pledgny
Themselves 20 sfiOrd every possible facility for
directing IT. Still the senate refused 70 interfere
aud then the trustees endcavored to procure al
amendment TO the charter OF the company, proyid.
ing for judicial examination Of its affairs annually.
This amendment passed the senate, and went to
third reading in the House, bit was laid over among
the other measures left unfinished at the close Of
the session.
Under these circumstances the trustees Of the
COMPANY appearing TO feel the i'm oOrtance Of spec
Oily qcieliDg any doubts thu. might have been
raised b. the adverse petition, and showing, no
doubt, 1udabie anxiety, a. the responsible ma.
Dsgefs o. 30 important moneytd institution, to
meet any charges made against them promptly, took
the only course that would seem 70 have been open
to them, and by a resolution Of their body, passed
on the 18th OF April selected the Hon. Luther Bra
dish, the Hon. William Kent, and Professor Henry
james Anderson, III. D., examiners, 10 make
"such fill exsminationin TO the affairs OF the COM
pany, the legality fidelity, ability and method OF It's
administration by its officers and trustees and par
ticulary since the commencement Of its fiscal
year in 1868, az would enable them to report to
the policy holders Of the corporation its past
and present oniition on these points"
II appears from this report q the examiners that
Mr.. Blunt. counsel to the company, who was active
In pr fcring the petition against H. and the otha~
gentlemen who acted with him In that matter, were
invited TO attend the meetings Of the examiners,
ard that Mr.. Blunt did attend those meetings and
preferred his complaints TO the examiners. We
have glanced through the report, which Is rather
volnmnous and are pIeased TO find that The opinion
OF the examiners ~ completely in favor Of the in
tegrity OF the company in It. condition and man
sgtmeut, In Oil respects We say We are pleased at
this and Tor this reason-that we are aware q large
number Of our most respectable citizens are deeply
interested In the well being o. this company, and
that il IL Of great moment 70 the public generally
that the Affairs Of the most extensive life insurance
CONF any in the country should be entirely above
reprs.h.
The examiners are men Of irreproachable charac-
Ter, and their opinions are entitled to the full est
coincidence. II s impossible for us, in a cursory no.
Nce Of their report 10 follow them through all TIE
details Of their investigation. We are gratifed 10
pssceiye that The assets Of the company arc abun.
dspt and that the accumulated capital Of s3is7s5
70 Il secured on NOR gagged property Of more than
xsice and q half the vslue OF the amount.