The New York herald., 1873-07-20
A CARD FROM MR.. SHEPPARD HOMANs.
To THE EDI-oR OF THE HERALD

To THE EDI-oR OF THE HERALD
The July number of the Spectator, n monthly
paper devoted to insurance, contains an account
Of an "interview" between the editor and Mr..
Frederick S. winston, President OF the Mutual Life
Insurance Company OF New York, from which the
following Is an extract
EpIroR-what were the causes OF Mr.. Actuary)
Homans' retirement from the Mutual Lie ?
wNsros-n brief untaithtulness, incompeency, oh
stinacy impracficability and InsubordinatIOn in
opinion were the reasons why the Board rid themselves
OF him
l am by profession life insurance actuary, and
depend in measure for my support upon the re-.
suits OF my labors as such. am also bound
to protect my character from defamation.
cannot, therefore, let the statement
above quoted remain unnoticed. Had
Mr.. Winston given to his interviewer the
facts instead OF his opinion, and allowed the public
to form their conclusions. no notice OF the matter
on my part would have been necessary. The facts
are these I'm November, 1869. was the Auditor
of the Mutual Life Company and Mr.. winston the
President. He brought to me Tor audit the official
quarterly statement OF receipts and payments
prepared under his directions by the bOokkeeper
in such manner that upon investigation detected
the fact that certain items had been improperly
withheld in the final payment OF death claims to
the representatives OF deceased policy-holders the
books OF the company having been already pre-
pared under his order with view to deprive Such
parties OF sad amounts % 50 due them To
In the usual manner to be correct
would have been lustifying him, and involving my.
OF dishonesty TO the policy holders and direct vio-
latiOn OF the charter OF the company. therefore
declined auditing the statement beyond certifying
upon the books Of the company" This certificate
he passionately ana violently erased, with the
usual manner he would find some else as Actu-
ary who would.
That In this matter was unfaithful to Mr.. Win
under certain policies OF the company admit: but
unIaithiul to the company never.
That to Mr. winston was in this matter 0bsti
nate, impracticable and insubordinate, Ii certainly
true.
sary that should be got rid OF; but Mr.. Winston
does little justice to his position in the company
by stating that the trustees determined to get rid
OF me. II the trustees had come to such deter
minaton 1t would nave been practically OF but
little moment unless Mr.. Winston so willed 1t.
was got rid OF BY Mr.. Winston. Ever since he
ousted Mr.. Collins from the presidency by the &C.
cret collection OF proxies Mr.. Winston has held alb
solute control OF the company by keeping In his
possession proxies OF such pOlicy-holders as hav-
Ing given them originally upon the solicitation Of
his agents, have been too Indifferent or too lnd0-
lent to cancel them. Each OF his trustees holds his
place by the appointment or liberation OF Mr..
winston, and from time to time the most respecta-
BILE merchants who have been members OF his
board have been got rid OF for exhibiting obsti-
macy, impracJicability and insubordination,
amounting to unlaithiulness to Mr.. winston in re-
gard to such schemes and practices OF his as he
may not have been able to conceal from the know
ledge OF the trustees.
His charge OF incompetency, in that was ac-
countable Tor the fearful blunder In the dstribu-
tiOn Of surplus in 1870 and that said blunder was
occasiOned by q mistake Of mine, is simply untrue
Ii was OccasOned by the direct interference OF Mr.
Winston IN opposition to the decision OF distin-
gusncd referees, which had been approved,
adopted and ordered carried out by the Board OF
Trustees and he Is responsible for the blunder as
he well knows. Mr.. Winston never would have
made this charge against me except under the ex-
citement OF feeling growing out OF circumstance
beyond my control VIZ. THAT lately gave testi-
mony under the compulsory process Of subpoena
before the Assembly Committee during an investi-
CATION the result Of which is well known
SHEPPARD HOMANS.
31 BROADWAY, July 10, 1873.