The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-04-08

the boy in the quaint old German story, be
disconnected and unhappy because do not
understand what It is to shuddcr."
GRACE GREENWOOD.
The Hon. julius L. CLARKE, Insurance
Commissioner of the Commonwealth of
Massachusetts, having associated with HIM
self the following eminent business and pro-
feSsional men, who are in 10 manner con-
nected with or interested in the management
of the Equitable Lii. assurance Society OF
New York. to inrcstl, :Cc its atfairs-viZ.,
Henry +. Spauldiig; of S,nulding, Hunt &
Co., so Worth street, New York; Gustav
Schwab, Of Oelrichs & Co., Bowling Green,
New York; George B. Upton, Boston. Mas
sachusetts: William IL. Fogg, of William Fl.
Fogg & Co., 81 Burling Slip, New York {;
Feliciano Latasa, of Latasa & Co., 11S Pearl
street, New York; Eugene Kelly, of Eugcne
Kelly 81 Co., 81 Nassau street, New York
David Bows, of David Bows & Co., 90 South
street, New York; Morris K. Jesup, of ".
X. Jesup d Co., 90 Liberty street, New York
Junius Il. Wheeler, Professor of Civil and
Military Engineering and Science of War,
United States Military Academy, West Point
Theodore w. Dwight, LID, Professor of
Municipal Law, Columbia College, New
York-this committee have made the follow
ing
REroRT.
New YORK, March 80, 1S72.-m themonth
of January, 1871, the Equitable Life ASST
rance Society OF the United States were in
formed by the Superintendent of the Insu-
rance Department Of New York that La Roy
$. Cove, who had insured his life in said
Society about one year previous for the sum
Of $500, had presented certain grave charges
against the Directors and management Of said
Society.
Whereupon the President Of the Society
addressed the following letter to the Super
intendent:
JANUARY 9Th. 1871.
"Hon. GEORGE W. MILLER, Superintendent
of.the Insurance Department Of The State
OF Neto lOrE:
dear Sir,-The counsel of this Society
has handed to me copy of charges with
specifications sworn to by policy-holder.
AS some of these charges and specifications
have not the slightest foundation in truth,
and in other cases ore grossly exaggerated
and the truth perverted, and is l fuil;s. be,
lieye each charge admits Of the fullest and
most complete explanation, have felt it my
duty to address TO you this communication
"Conscious that the diI;iiis ct tlii2 Society
have been conducted by the officers with Il
high Integrity of purpose and with view
to the best interests of the poliCy-holdelS
and having nothing to conceal as to the con-
dition of the Society or the manner in which
its affairs are conducted, would respect.
fully request that in the exercise of that al.
thority conferred upon you by law and ap.
pointmcnt to your. position is Supcrnten.
dent of the Insurance Department, you
would institute sucli investigation into the
condition. affairs, and transactions Of the So
ciety as YOU in your discretion may consider
that the presentation of these charges dc
mands.
"FceIing aggrieved that charges so I'm
founded should lie preferred, Jealous Of Til
honor of the Society and that of its officers
and directors, | would respectfully soici
that. with as little delay as possible, vol
would give your attention to the subject.
II am. very respectfully.
Your ohedient servant,
TSiyned] CIVILIAN G. ALEXANDER,
"President.'
The Superintendent subsequently repliet
that lie ', ould commence an examination Q
the company at as early a period sas his o0icil
duties would permit:
Before an examination had been made b,
the said Superintendent, Il person professin!
to be the representative OF Il newspaper il
this city called upon the officers of the Socict
and informed them that this newspaper hut
| in its possession, for publication, Il copy q
| charges against the Society, made by La Ro,
| S. Cove, and that he, the protested repre-
| Of ha
enter into negotiation for their suppression
The officers Of the Society refused TO pay TO
such suppression, and the charges wer
thereupon published in the newspaper whicl
| the person claimed to represent.
The Directors CT the Society again re
1,lested the Superintendent VI New York +
make the examination without delay: but il
consequence of the legislative examination 0
the Insurance Department of this Stale th
Superintendent was again unable to give
| immediate attention. The Directors also re
quested the Commissioner of the State u
Massachusetts, to make an additional or con
current examination; which he consented Il
do, and has associated with himself the III
dcrsigned to assist him in the investigation
Upon assembling at the offices Of the Sc
ciety the undersigned at once entered upol
the investigation of Mr.. Goye's charge
made to the New York Insurance Depart
ment, and since widely spread before the pull
lie in printed form. The Masslchllsett
| Commissioner at the meeting called to max
the investigation stated that he caused Nj
Cove to be notified in writing of the invest
cation, and had invited him to furnish test
mony in support of his charges, and pre-
sented the affidavit of personal service of tl
notice upon him.
| Mr.. Cove did not appear OF offer any test
mony to sustain his allegations.
The minutes of the Society and of the sc
yeral committees, the account books, clsl
hooks and check books of the Society WCr