New-York tribune., 1871-05-04
THE KNICRERBOCKER LIFE INSUR1NCE
COMPANY.
lASoTHIR MEETING OF OBSERVATION-DISCLOSURES
Gus CHARGES.

IAEOTHTR MEETING OF OBSERVATION-DISCLOSURES
Gus CHARGES.
The dissatisfied policy y-hOlders of the knick-
erbocker Life Insurance Company met last nght at No.
27 Bowery T. T. Klein In the Chair. About 100 persons
were present. The Secretary, T. GrucnenthaL
stated that they had been advised by their counsel Max
Grepp ESQ., that if the statements made at che hist
meeting were true they had good against the com
pany but the persons whom they had expected there
had failed 10 appear They had received $40 towards the
avment Of the expenses of any suit which might bo be-
gun and could count on any amount necessary
DR. Franklin saG the Company denied that they we're
resnonsbe for the acts or representations of their
agents whom they denoninated merely canyasscrs Dut
every one knew that these agents had been collecting
the premiuns for a long time aud had given the Com
panys own receipts therefor. These two facts were
contradiction OF the Presidents letter which Indicated
that NO redress to be expected OF the Company
Their only resource was 10 apply 10 the law ,, ,
Samuel LYMAN brother OF f. lyman Presiqeh. M o.,
the claimed that they were clseied out
Of their and ne me- h@g 50 Of . ye nss
Life Insurance Company for good wht; that " Is q
sSa. a.. - Isras,ns lyman he continued had been
formerly connected with the Knickerbocker Bank ana
the Knickerbocker Savings Bank two institutions which
had failed The two engineers who the kuickcT-
booker Life machine AT present are Charles stanton ana
then entered in detail vehement charges against
his brothers character for integrity:
n Ougckcnboss who holds policy OF $4,000 In the
C.ny thou ght that the chief capital OF an Insurance
Cnmn,ny WAS IL personal character. He suggested that
. Coum{ttce be appointed 10 confer with the Company
once more aud il this failed, 10 apply tO the SupeTin
endrnt az Insurance. Mr. Miller when their rights would
Gerstood that the KnickerbOcker Life Insurance Com
many was run i'm interest of three men, one or whom
HTas close1y connected with gentleman occupying
biIyb judicial position In this city -,
t1nel LYMAN said that this was true, ana ne judicial
n,a,,c alluded to WAS Judge George q. Barnard, the
- IN i.y of John Anderson, who, III connection Win
harIa stanton and Erastus Lyman. owned the chlet
nart o the stock and managed The concern h lheu OHn
Interest. , a., in4,oent of a Compttea Z,
,'r ,Sith nc superintendent of Insurance
T,o president said that the SuIerinendent OF hsuf
NC had been more than SIX wceXs eAahllIIlhs tae
dn'c a thr Company and had not yet decide as 10
a. ,,Jitinu lie thought this circumstance lAIlcdtei
The Ueakness OF the Company. ,-..a, a., A.,
'n. Tng enewcd his motion and suggested that MI
lianio7 bc added 90 the Committee, when had pesh
Nointnd ,t the last meeting ior thls puPo'c'
aPponnnitian ras accepted and n. Quackthboss T. v
RtriDg DR. Franklin, aud r. Grueheh'h'i "ero %-
poIhtus u "1clcsne editor of Tee ~ l. Underf1Fsr, sni
a. bsid Motley in this Company of s'dCO' anu ~
~ ~ hnd.rs apply Go Judge tr"dhla ID ol IN
lhh ,iu '{ tar redr5ss At tho closo Of hst yDhr,
tT hn tbc Company claimed 20 nave s''"o' ~
s,s SUI out of mat they have, ~ hcluHi ,t-n,
{, sOo 90. the rest is mere paper ZIG! ~
owe fe policy holders F6.iJi,Fl oS 10 sot 80
the company are So 7O5GiJ ana tasy o"Jn , 900 -
total assesis OF S739j.Cj9 10, of "hI'1 oFoi - a. y
osIy paper Che Company Is run w ie" i"oH "Ay oNn
s5. iSiaS aS NJ i, tur most o. .nGl Faa a"d. ~
bcYl al 90 ceus Oa Gao dgeL 40 -, 'O +a| '''a
ra5 at 3D. u.slIs5 hl fo sls.ftt