The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-02-01

v,~,s.- wr~,l------a - - -. r...-x-
OF CounseI-Decisaen 81 the Court he.
s'1'su' me., cour c..,,-,.
sa 49, yss.. Go - -
Doao'e Suuse ousnefHno.
s.. sss. ss..s Of sss Columbian Marin. =.
s. ,....,.- =. ,rs..,,c.o.. -.,...... !. -
ca0 Up On an aFp'sson ioi " ''7
canceng OF outstanding policies and q 70 the return
= =. =. .s 49,,
amount aug UP 70 sns pfesens ''ne'
The following report, application and amdayh were
presentad = - 49,. $500 5000 - =
r - - v. $500 "a
w;usam n. Harcsck Soasnss he coius.Han Insurance.
Company
TO TN svraExE couRr or THE STATE OF NEW fo Xxx =.
fondant. appointed by this Court In This and other
actions, beg leave respectfully TO report
adiusters and insurance brokers' acting on behalf Of
MessEe Peck Church, did on the z0sn day OF August
1862 insure with the DEFENDANT the 6un Oh
Thousand dollars on the bark Vver ut! 10! one year
thereafter and gave note for the premium thereon for
u, OOl 70, payable IN one year.
Seend-That the said insured arc DESTROYS Of having
thor policy cancelled and their note given and 70 pay
" the proportion OF said premium, which has been
already earned, a. wm appear by their written appca.
ton, q copy Of which Is hereto anneTed 81. y. 4
Thd-That thorc arc many other cases similar TO the
foregoing -
FbsyzA-That tho pfomjum notes hand, and falling
due at various periods within tho year aoant as tho
undersigned believe, 10 not less than three millions Of
dollars Of which about 81 $50 234 IS ara unearned pre-
muus whiIc tho risks covered By the policies there
upon issued amount Il is supposed to ono hundred mil
lions. - - - q -.
The undersigned Therefore respectfully ask for The
rcspoctfuuy submitted. : ~ --ts so i7E v
TTNI rSGLv,, Receivers.
New YoRK. Jan. %. 1866
AryrplvIr on TEE PART OF POLICY HoLpERs Sal.
Gin md Ca.nfv ~ Ne,p Yoyk a--A Foster Hir.
Gins being duly sworn saysThat he Is one of the firm
Of johnson Higgins average adusters and insurance
brokers IN the city Of New York and tina, dspoae1ts
large amount of marine insurance with the Columbian
Insurance Company and now hold policies upon which
dollars and that upon behalf Of their prineipa when
the said insurance Company passed into the hands
To- Sayo the upCos CANCELLED and after the
p.vyne,t of fha nro ratal nrnmiurn mn to the
time q such cancellation 70 have The residue q he
returned to the policy holders Deponent further SAYS
that in none Of the said policies eeced by the deponcns
Ma. bnt where notes were eiven instead or nnvinr the
nraniun,s in cash such p,ics we're merely a credit 10
the dealers and were not the kind Of notes which in
r;sv 20 ntnar deaers nenonsns rr,hcr sys that he
is familiar with the renoris made bv The Iolunbian
insurance Company and the statements Of lis officers
ana 4 4 fo Ihs, me c"anv vii nsvcr he
h, ~ nv a., XII TN nI 10 cc %, ndsr the
,,;c, ,,. Nonv ~ tha risbs ,raya rsrs
10, sd s rcsed rs ocr y conan 1 ana The d
sssars - he b,va iursnr tho
mast wear and the present winter been very caaous
Deponent Is OF the opinion that would be decidedy Tor
the best interests OF the and OF the
company that the outstanding risks should be cancei
thus nsuring to the funds or the company tbs pro rata
premiums already earned aud tempting them from any
w APPLICATION OF nEsE;vsGs
Recsivsy. Of az G iuvs;sas Insnyaecs Company:-Thc
dealers or the companv holding unex o:re policies are
dsirDus in many cases to cancel their policies upon the
asccrainment and payment Of the due and proporonate
premum FOR tho risk up TO the daso Of cance'iaton.
They respectfully represent u the Court that lis insruc
tons should 30 given 70 tho Receivers 70 make euch SET
Elements In ali where the policy holders may do
tons should IN any particular case IN the Judgment Of
tho Rcccivcrs rcrocr II cxpcdtcnt = \ v .
F1s As u Is manifest that this pccunary interests
OF tho company rcndcr Its continuing Insurance on no
value 70 the assured clearly ineQuilabIe that tho lat
Ter should 90 focd 70 pay premiums for which they no.
csve no commensuiste security sy W
Second would SOON 70 DO cqq9lIy unsuitable 70 the
interests OF the oo1npany, wheth ~ " stockholders
the - ka or earning premuma Thu vOuld BE- 10 con-