The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-01-24


liabilities Of the company reported TO
aggregate moro than Ave millions OF dollars;
but in snswer to inquiries at the olce to-day, IL was
stated that the company would be able discharge the
piams Of policy holders In ful and that will be de-
scrmipcd at meeting OF the directors 70 be held at
shree O'Clock tomorrow whether the institution Is TO
resume business not The Assets OF the company are
represented large although dsproportioned TO the
liabilities and Of the company regard the action
or the majority In suspending - premature, and express
hope that by an the stock or otherwise
IN arrangement may DO made by which the company
viii be enabled 10 resume business Immediately. has
been for some past noted taking large risks re-
eused by other Offices aud its credit for year more
has not quite equal 70 the other large insurance
oompancs A. the same time II has paid the interest
dividends Of per cent Its stock regularly a.
provided In lie charter and the shares sold at So within
enc last ave weeks The company was Incorporated
sbout ten years ago, and only two or three months
ago u elected . asw president and vice president
Considerable surprise Is expressed that the manage
men, Of the company should have been such as to place
IN s present embarrassed position; for its receipts
ers only second In 10 those OF one other sinh
lar company In the CITY, the aggregate for the year end
eng with June last having becn according 70 the lnterna
Revenue returns, -. 2Ss,ses
correspondent sends us tho following In relation u
frauds upon the revenue by counterfeit and reused
stamps and suggests remedy In the adoption Of self
sancsllins stamp
TO rfu EDITOR OF THE HERALD.
have noticed In the HxnALp that some OF our shrewo
detectives have recently discovered frauds amounting
e100 900 upon the Internal Revenue Department. In h'
city by the counerfeng ofstamps for cigar boxes Ie
well informed cigar manufacturers tho existence OF such
frauds n no matter Of surprise Honest dealers, who
oheeruy pay The heavy stamp duty required by the act
have long that not only the government bu,
aiso honest manufacturers bcing deauded OF large
smouuta This counterfeit is said 10 be poor imitation
wider and larger than the or ginal, and cumsy exc
outcd such counterfeit be used TO such an ex
ent before discovery not reasonable TO suppose that
shsr and perhaps better oouneres not only here bu
Throughout the country are being used With IMMUNITY
Nor probable that the counter'eiters attention
eounued sioue 70 cigar stamps There " wide TEL
through ell The range Of proprietary stamps Tor thor oy
4 siss wen known fact that all kinds Of stamps
b~ussA sometimes even without crssine the marks
Ssoosatlon The loss 10 the government from these Oh
bonssf practices hes been estimated ~ high - tvens
81 oeak r shers any rcmcdys think there y, but
tnusl c8fhs through fhg kovermsat Ny attention hi
bsss directed 70 a American Invention, that usI.v
tannot a 70 prevent frauds OF al kinds thus proteots
The goveruhent - well - honest dealers This sel
pAscsilisg stamp, which cannot b eountsreued az
Tbss uscd by the act Of using, cancelled 90 sh
kHAsseI ~yspssd thops thsgoysruusD nay 80 ~