New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-06-04
REPORT OF GEORGE W. MILLER,
SUPERINTENDENT OF THE INSURANCE DEPARTMENT OF
THE STATE oP 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.

This comprehensive and able containing summary Of the
vaons charges circulated the community against the
Trustees Mutual Life Insurance Company and their
complete utson By the highest authority this State may be hsd on
application Company Office Nos IA and LAG Broadway and
will repay persa persons interested this institution 1t
possession Of every poEcybOde The following bref
extracts indicate the Of the Report:
Very soon er entering upon the discharge duties Of supen
nden Of the Insurance Department came TO my kno"ege soon
followed by direct charges Of mafa'Sne the mSnsgnnt OF ne NM
character presented with much isnIess and urged By such
Pe , i a. 'o% f S J seemed T eTe
to be demanded This Company had 50 long occupied such esng Po
Tast and extended that while unnecessary alarm Was to be dep
interested to know from some patient faithful, Official
esh@iaaion the actual character Of the management and
yesgaon thorough aud complete has been continued through
9ony have BEEN tlksn and the BOOKS Of every
thi assets Of the e9PaaS nave ss9 e5reig sAI IL Ss @
to state few facts in relation to the Pua under which
who bal Pe ss Of e So '1 S aa the conc S sa
ou,sI T anu I, s ,S 1 rp, ~ us mot ssng az
fordel to Mr. McCuoh aud myself BY the officers Of the Company
follow charges sq and the finding Of Superintendent
Miller but the length Of the document preeui the publication
in these columns detail The concluding remarks Of The SuPehn
teudent follows;
Having undertaken the examination Of the affairs Of this great Company
besides special charges already considered have continued until
ny BUSINESS as 0 as es sD hs history Of the co%pSny
e prepared t. declare as ny opinion hat TIE condition s ana s,sng p,
confidence the public and the high position has long occupied
toaa5 III IN great lie sley ability scy fk
nirstei With management II organized By SPECIAL act in 49,
Mutual Life Insurance COMPANY Of this State The
present chief executive officer Mr. Frederick Winston became IL
President 10 1883 time II the Company amounted 10
42Ol8116 The number 81 policies then force bJ insGng
OF +l75 On the s Of January S The asset OF
number policies then % w. inunng go yt Inc
income the Company Tor year 1869 about s5010n OF
tue s2TGO 900 invested bonds and mortgages uPo9
real 42tOOOO NewJerse being rea
The the found
correspond With it, animal ue ut thereof ahe 70 he IN
Department They the highest OF
aud safely kept is fact worthy Of remark that
scrutiny the q this Company dunI the
which
Of been received
1nt S9a or beecn NM ~ any oaos - ,rastoo.
urap, strange should only
valr FIELD Of business enterprise, but also jealousy
personal anoies and criticisms 1t Is to be regretted that 10
advancing the
company themselves II there charges az
ng the standing company the legality OF It's manageme
suOusy priDld gd1e, reasonable gIOands the
Sureiueuien, he will. this deem IL his duty
practicable investigate them In making these remarks
had Company In particular They
merely aimed generally what have conceived 10 be pernicous
practice concluding this report that entered this
examination, certainly prsro extend special favor the
Tar as able mete equal and exact justice This to
ability have done Personal examinations Of the affairs
Companies will be- frequent under the than they
under the OF the Insurance Department
10 disclose Irregular
serious ppeLenons the future Of the Com
panies examined than this Life Com
close this report without expressing appreciation Of the in
deCh energy and research an the valuable assistance Of Mr. j. W
MuOh throughout the investigation aud acknos the
and Trustees the Company for their ready
With al requirements, and their general courtesy
In which have before used will only add; My examina
ton has satisfied that the Company has been with peculiar
GEORGE ". MILLER. Superintendent.
Insurance Department State Of Albany MAY g. 1874