New-York tribune., 1873-07-23
4 CARD From NIB. SHEPPARD HoMAMS.
IN IN, Fdttor Of The Tribune.

TO the Editor Of The Tribune
SIR: The July number of The Spectator,
monthly paper devoted to insurance, contains an ac
count OF an "nterview" between Its editor ana MT
Frederick s. Winston, President OF the Mutual Le In
surance Company OF New-York, from whlch lhe ioho"
ing is an extract
Editor-"wbat were the causes OF MT; tActuary'
Homans's retirement from the Mutual Life y
winston-"In brief. unfaithfnlness, inc9mpetenoy' @ 10y
obstinacy impracticaDy, and insubordlnation IN my
OF him.
am by profession life insurance actuary' ana de-
pend. in measure, for my support upon tho results OF
my labors as such. / am also bound to protect my
obaraoter from defamation cannot, therefore, let the
statement above quoted remain unnoticed' Had MT
Winston gwen to his interviewer tho facts instead o
his opinions and allowed the public TO form their cos
elusons no notice OF the matter my part would have
been necessary. The facts are these:
In November. 1869, was the Auditor OF the Mutual
Life Company and Mr. Winston the Freslueht lie
brought TO me for audit tho official quarterly statement
Of receipts and payments prepared under his direction
by the bookkeeper in such that upon nvestiga
ton detected the fact that certain Items had been
improperly withheld In the final payments OF death
claims 20 the representatives OF deceased pocy
the books OF the Company having been already prepared
under his order with view TO deprive such parties OF
said amount so due them. To audit this statement by
certifying tho in 1.-THE usual manner 10 DE correct
woud have been iustfying him, and involving myself
Ms an accomplice in the perpetraon OF an act OF dis
honesty to the pocyhoders. and direct violation OF
the charter Of tho Company. l. therefore, declined
auditing the statement beyond certifying that the same
I'm accordance with the entries upon the DOCKS OF
the Companv" This certificate he passionately and
violently erased with the threat that dld not audlt
the statement in tho usual manner le Wouu nnu SOME
body else for actuary who would
That I'm this matter was unfaithful to Mr. Winston IN
his scheme for defraudng the benehcares under GER
tain policies Of the Company admit but unfaithfu to
the Company never That to Mr. winston was In THIS
matter impractcable insubordinae, aud obstinate Is
certainly true.
Upon this occurrence II OF course became necessary
that should be got rid Of but Mr.. Winston does little
Justice to his position in the Company By stating that
the trustees determined get rid Of me- II the trustees
had come TO such determination, 1t would have been
practically of but little moment, unless Mr. Winston so
wiled It. was got rid of by Mr.. Winston Ever since
he oused Mr. Collins from the presidency by the secret
collection OF proxies, Mr. Winston has held absolute
control OF Company by keeping In his possession
proxies Of such policy cyhOlders as, having given them
originally upon the solicitation OF his agents. have been
too Indifferent or too indOlent cancel them Each Of
his trustees holds his place by the appointment or oer
alton of Mr.. Winston, and from time 10 tme the most
respectable merchants who have been members OF his
Board, have been got rid OF for exhibiting obstnacy
impractcability, and nsubordnation." amounting to
unlaltDlulness' 10 mr hIhStohi III regaiu Z" su0n
schemes and practices Of his he may not have been
able TO conceal from the knowledge OF the trustees.
His charge of ncompetency In that was accountable
for fearful bunder in the distribution Of surplus in
1870 and that said blunder occasoned by mistake
Of mine is simply untrue. II was occasioned by the
direct interference Of Mr. Winston, in opposition to the
decision OF distinguished referees which had been ap
proved adopted and ordered carried out by the Board
of Trustees and he is responsible for the bunder as he
well knows. Mr.. Winston never would have made this
charge against except under the excitement OF feel
ing growing out of a Circumstance beyond my control
viz that lately gave testimony (under the compulsory
process Of subpena) before the Assembly Committee dur
ing an investigation which resulted in his conviction OF
malfeasance in office. of the unwarranted OF trust
funds and OF fraudulent attempts at concoament OF his
conduct by false and altered entries in the books Of the
Company. SHEPPARD HoMASs.
25l Broadway, NewYork, July IS. 1873.