The Portland daily press., 1873-08-02
Reyly to the Card Of Sheppard Romans.
OFFICE OF THE MUTUAL LIFE INsUR-
II Conn NIc1xr XnpK [

OFFICE OF THE MUTUAL LIFE lNsUR-
ANCE COMPANY OF New YORK. J
Mr.. Romans, in pursuance of his repeated
threats that unless he were restored to his form
er position he would not cease his opposition to
this Company and its management, so long as
he lived, has published certain charges which
have been so often examined and found desti.
tute of truth as to make further response use
less except for the information of those to
whose notice they may come for the first time.
1t is not intended at this time to answer these
charges in detail. Mr.. Romans was removed
from his position in this Company for sufficient
cause, by the unanimous action of its Board of
Trustees. The issue is thus squarely presented
whether the policy-holders and the public will
give greater credit to the assertions of this dis
carded officer, or to the statements of forty
well known gentlemen who have carefully in
vestigated his charges and reported thereon.
1t is sufficient as they say:
THAT the Company has been managed with
ipte0rita as evidenced by the fact that not one
dollar of the vast sums lntrusted 10 u naz ever
been lost by the dishonesty or lncompetency of
any officer of the Company having charge of
the same, a result unparalleled we believe, in
any trust of equal duration and magnitude"
''That the Company has been managed with
institution has consumed in working expenses
so small a proportion of its receipts, or saved
for its policy holders So large returns out of
the deposits"
THAT the Company has been managed with
efficiency, is shown by the fact that its growth
has been without any precedent, and it is now
the largest Life Association Corporation in the
world, as well as in the amount held in trust by
it, as in the number of its members and the
amounts assured to their families upon their
DEATH" -
'Tbat, notwithstanding these facts, the Com
pany has been subjected for the last six years,
to repeated attacks, in which sthe integrity,
economy, and efficiency of its management the
moral character and faithfulness of its officers
and trustees, and the candor and truthfulness
of ITS statements aud reports have been i'm
peached.
'That the charges made by these assailants
have been repeated in the same form from time
to time for the last six years, and were dill
gently inquired into by the Board of Trustees
prior to the year 1870; and that they found in
them nothing to impair their confidence in their
That early in the year 1870, these charges were
formally investigated by the Department of In
| surance, with the chief accuser himself, in a
session of six weeks, during which the books,
records, and officers and clerks of the Company
were fully examined as to each OF said charges;
that all the evidence obtained was reported in
full by the Superintendent, with his ccnclu-
sions and inferenees completely generating
the Company and its officers from every charge
OF bad faith or administration. and reafirm-
ing the fullest confidence in the integrity and
capacity of its management
THAT the persistence of the assailants of the
Company IN repeating their attacks, and en-
deavoring to prejudice the public mind against
it by the repetition of them, after so many and
complete refutations, evinces a state of mind so
hostile, not TO say malicious, toward the Com
pany and its officers, as to deprive them, with
all impartial minds, of any just claim to con-
sideration.
'All of which is respectfully submitted"
Signed by every member of the Board.
This is the clear and unhestating language
of thirty-six gentlemen, who are well known in
the communities in which they live, and whose
character, intelligence, and honor will not be
affected by the impudent and vituperative as
saults of a dismissed employee.