The New York herald., 1873-12-19
A SPICY LITIGATIoN.


The World Life Insurance Company
Said TO he Its Last Legs-The
"Hand I'm Hand Bund'' Takes Hand
I'm Its Downfall-What the Cause or
the Row is About.
The World Life Insurance company OF this CITY is
in bad way just at present il the assertions of
the Bund "Hand In Hand" OF this city are to be
credlued. The company and this bund are Just
now In litigation, and the charges and counter
charges made the one against the other are quite
serious. 1t seems that the quarrel, if the present
dinnculty can be SO called, broke outlast Novem-
ber and the results promise to open wide field
for investigation. contract has existed be-
tween the company and the bund since 1872 by
winch the former agreed to insure the lives OF all the
members OF the association who were found on being
medically examined, sound In health, for sum not
less than $1,000 and to pay TO the individuals Ior
whose benefit insurance was made 500 whenever
an insured member died. The contract is q very
peculiar one and would require regular Phila-
delphia lawyers legal acumen to make compre-
hensible to the average mind. The difficulty be-
tween the company and the bund was seriously
started it is believed, by an attempt on the part
OF the bund 10 break the contract on the ground
that N9 FIJI elt F .f
THE WORLD COMPANY is ON ITS LAST LEGS,
and that, I0r the protection OF the members OF the
bund the company should make some terms
with the insured which would be mutually satisiac
tory. Quite correspondence has already ensued be-
tween the officers OF the bund and those Of the
panv, the former claiming that although they have
done all they could to come to terms with the COM
pany the latter would give them no satisfaction.
The following letter, which finally sent to the
President OF the company by the President of the
bund, brought II is said the efforts looking to a
compromise to sudden closet N .t
BousD HAND ~ NH HAsp, y, No @ 100 @BMTsaSaSwsssy,} M
u q ne and contents
noted am fully satisfied that any further attempts
&c o S reSps 70 r
a time oar
desire new business and would A., Ike 70 get rid Of old poll
s 10 e5 SS S M
sRa f
opno oPH s a%ouned 0sos oa contrae
o those seus o oaa @
% whS Sss e ~ an
Many Of our may also prefer under the
ss aas S
ha ey ySa o % I
dssrou o esafymg on any relation which must Of ne
the b IN saa S g I
ocers rf the the @ Of
nsSsi reash Yours saS
49, M President OF the Bund a
The answer to this came short time after in the
shape Of summons from the company, calling
upon the bund TO stand by its contract. In other
words, the President OF the company made affi-
davit, alleging that the bund was conspirng with
the New York Life Insurance Company to deprive
1t OF its rights, and making some serious charges
against the Ocers OF the board as to the way they
made use OF the moneys placed in their charge.
The andavit also charges that the bund is nothing
more nor less than a 'branchn OF the company,
company. Un the strength OF this showing by the
company, on the Sth inst, Judge Freedman
granted an injunction, prohibiting the company
from dispOsing OF its funds in any way. This was
II A SERIOUS NATTER FOR THE BuND.
AS by the terms OF the injunction they were
able to come to the relief Of their sick me mpers
| who were in want, and as the total number OF
members is said to be 20, ,ooo II can readily be per-
| ceived that the injunction became no laughing
matter for a great many deserving people. The
! officers OF the bund, however, succeeded in get
ting through their attorney Mr. j. r. Reymeru, on
the 18th inst, modification OF the Injunction,
tEat they could. use their Iunds for the sick and
needy, but which still prevents them from doing
anything whatever looking TO transferring life in
surances held by members Of the bund to any other
/ company from the World Company. The affidavirs
| President and Superintendent Of the Bund, and
contain
SOME EXTRAORDINARY STATEMENTS.
The afidavlt OF Seidel, the superintendent
states that the total number OF policies held by the
company is $751; 800 OF the policy holders being
members OF the bund. According TO the last
nuaT report Of the company. the superintendent Of
the Bund states that the receipts OF the company
were. ....................... $l91560