New-York tribune., 1872-04-26
TIE HERCULES LIRE SASURAycE SOCIETY.

M. N. PoAERoYs CnARGEs-THE PREInESrs
sTATEMENI-AN EXAMINATION IN PROGRESS.
VI. II. P0mcroy made, yesterday, To 1RIB-
USE reporter the following statement Ia regard 10 the
Hercules Lie Insurance Company
"Tba Hercules Life Assurance Society has got into
bad TX. am trustee Of the Company, and have been
FOR year or more At the solicitation Of several OF the
policy-holdcrs, / undertook Investigation OF tho
affairs OF tho Company and have assisted w three
other trustees We fnd that the Company In very
critical condition 81 IL very heavily in debt, and all It's
pres Mt capital would be insufficient 10 pay It's creditors
Two years ago the Company was prosperous, under tho
government Of JAS T. m inert, who was then President
But Of late 1t has become very badly crippled Dy the In
judicous management Of its present officers meeting
called few days which vas very cuFlou'y con-
duced as the officers of the Company positively refused
to give any OF the trustees present statement OF the
financial condition Of the organization, lest they should
make It public. This looks very suspicious TO me;
looks as II they did not wish the puoc 10 know then
real condition There IS but 81 90 IN Ae Treasury
and tho Company for rent, premiums, furnituTs
bills and Incidental expenses The President said hs
had received 5000 rom tne stoShloleers To pa "a
done with it. said be had deposited It in the Bank Of tie
Metropolis. went 10 This BANK au asked " ibr ln"heL
was deposited there, and was told y lad NOT been.
then went 10 the Pro sidcnt and asked linn why hs ia
maize such gross mss'ateIneDt, When ne to'H u a
back and that at the advice OF M, cOuns"I
he had kept It In BIS pocket though he give no reasons
FOX 30 doing. Some OF the life insurance cOGPanes s'o
offered 10 hclp them ont or thc ulI uy, Dt ''y HNo
ignored all such offers. 1 not sOc khoder, Dds
merely q pOlcy-hOler and trustee for tie Copptny'
and speak disnterestedly IN my opniOn no st'ck'
holder Will 10 per cent on the capital he has N
vested in the Company"
The Presjdcnt 0f ihe Companv, g. d scvards. made
the following statement: Edwin ". Bryant has been
appointed by Superintendent Miller - investigate iHe
ars OF the Company, and has not yet found any as
cTepancie in the books The scheme on the other siie
il merely satisfy personal malice on the part of
Messrs Pomeroy, Allen, MOrgan. and ReyIner WI" arc
trustees. The Company formerly occupied the bnulDS
No 2lO Br.a iway, which j. owned W Ir Morgan, AMI
D. fff, IN r.tr
pauy not quite aDo 10 pay sucb Large rent hld -
moved TO No. q UBOnsqUaTe where only 5000 per year
rent Il paid When left Mr.. MOrgan's building 70
said that in the building RENAMED unncoupr 70
should hold the Company the rent which
agreed 10 provided our business should war
Talt it. The business was not 80 bTIaA a. was
expected, aud go We could not pay for TIE
rent Of the building, aud now Mr. Morgan
viii De paid every fartng wc owe them and they n'ci
have no fear but what their policies VIII remain good
The Company Will not be thrown into bankruptcy as 10
taken precautions 70 see that its hauces were ~
safe condition. No need have any fears of the Con.
pauy going under for long Us Tcn.an AZ ts head
shall do all IN power 10 merit the coBnieDeo .! NO
public, IN conducting lts aniir5 hOnOrdoly.
Edwin ". Bryant, tho actuaIy apDJnleI 70 cA'milo
into tho afirs ~ the Company san at, a5 Iaf as IL,
had gone, the books showed the institution To be ia SoJd
condition. lie Will he engaged until Monday neat IN
looking the books, aud Wlu thcn Le ave u say
whchgr the Company ctn continue or not. .
s. b. WortmlnI the Secretary OF the Hercules Society,
said: .... -, MT.
g.? CO its assets sGl8G %, and IT. number OF 10 icy
holders C., nsurug about sj0OOoo TIe RISKS would rs
taken at any time by several companies Ia tns c ior
5000 above the premium. TIE premium l. si2OO' aHd
.he deferred premium sj9OJ1 IAs hilui. ~ Ns.di
curly IN Albany and viii be lbic ~ pay all is La
D!lItlcS."