New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-06-03
REPORT OF GEORGE w. MILLER,
SUPERINTENDENT OF THE INSURANCE DEPARTMENT OF
THE STATE OF NETWORK,
Of His Examination of the Special Charges against the
Officers and Trustees, and the General
Condition of the Affairs of The
MUTUAL LIFE INSURANCE COMPANY
OF NEW. YORK.

OF NETWORK
This comprehensive able document containing summary Of the
various charges circulated the community against s
officers the Mutual Life Insurance COMPANY and Ler
complete refutaon by the highest authority in this state be had
application Company office Nos Ia and li5 Broadway anr
will well repay pea By all persons interested in this institution 10
should possession every policy The following bhes
extracts Indicate the Of the Report:
ve after entering the tarae Of the dqes Supen
followed by direct charges Of in The management Of ne M
ous character presented much s,nctues sad urged BY
re state Of G fs Of me ompan seemed b eery consierston
to he demane This omany had 50 long occupied such ang p
and nde that while unnecessary alarm vas 10 def
interested to ,a know aetna, from b.rsc %s f ma"eut az
condition Of the Company Every effort has been made 70 Iis me IL
period of about three hundred foocap pages Of
have been taken and the books of every description as vel az
ami proer before procerang to detail the results my n7e.fsoHs
esm is da was .ni cc1du Tie PSs larry
vino s. pre- M es SeGs I sSo ' 1 COPE Of ah
eharle attended and participated the proceedings h1oush
orie to IT, Mccaioh and myself By COmPan.
Here follow the charges sram and the finding Of Superintendent
Miller as to each 9Th Of the document PrclDd the publication
in these detail The concluding remarks Of the suPenn
tenient follows:
Having undertaken the examination Of the as Of this great Company
{Ce @ o the aset. and general investigation Of th;
methods Of business as well as rw Of lie hsory Of the
The Mutual Life asurlne Company Of NelorS Is such as se 40
a has acquired this leading and magnificent position most u3Ses
onably due e ability hdet ofhOse
and was tie inst Mutual q 81. TIE
present chief officer Mr. Frederick s. Winston tecne rs
President 1888 which the Of the Company amounted to
H. amount II Fns 4ss Of 90 2Sls i Is. S SsS 'n' &c
tie Company had increased to the enormous sum Of s5 S W. Tss
number policies then in force " 2 insunng $50 L The
income Of the Company for the 1869 about +l5 go Oh
the assets S7WOO0 invested in bonds and mortgages Opcn
ALL except about 100000 NewJersey being upon real
correspond with its annual statement thereof made the In
Department They Of the highest order Of eenues
been safely kept Il is feet worthy OF remark that
scrutiny into the - this company dun NE
past yta during which such AMOUNT OF bas
DONE such immense Of ave het received
dollar discovered have been lost by the et-
yalrT in s great de Of business enterprise jealousy
the officers agents Of should resort 70 y-
ton company officers with view advancing the m
fectng the standing OF company the Legality oi ~
seriously made prtad ydS rraona0e gfouidN 70 ua
Supennteud NJ, he will. IN THIS case deen MS uu 4s
practicable to investigate them. In making these REMARKS DO
had Company person In particular lL arc
merely generally What have conceived To be roSos
GLIDING this would That entered
prtspod extend special favor TO the
Company but fully determined TO probe 70 the bottom a. con
affairs
Companies Will be under the present than he S'o
under the administration Of the Insurance apartment
ties caus NOR selol appfeue IONS Sr tN 60
paus ed than this has done Hn OF our Life Insurance Tom
paus sound ami reliable The Mutual LIE mnst De one o. mem
this report without expressing M! AppAu ''
ami eesrch anl the valuable assistance OF w = "
McCulo throughout the Investigation, ard ny acknos 70 le
and rsrs OF the COnpan Tor thuf i 'oPN'
with all Requirements and their general oourts
which have before usei viii only auu'
ton that the Company has Teen manager rN f
Ao'NH anu '"''s''' ~ GEORGE " MILLER. Superintendent
Insurance Department state Of New YORK Albany May 20 lo