New-York tribune., 1873-04-10
MALIciOCS INVESTIGATIQNS.

To me EdftOr Of The Tribune.
SIR: A week ago you congratulated the
KnicKerbocker Insurance Company on the failure ola
suit evidently originating in malice and prosecuted iOr
the purpose Of nurng the credit or dspos5esng the
management OF that corporation It Was sugect
moreover, on which the whole community might well b.
congratulated for the defeat OF those seeking 70 obtain
an embarrassing injunction against the Company sr
50 signal that it promised to be the end Of practice
,L,c had become an Infamous peryersOn Of the Jaw,
and dangerous 70 thq credit Of numerous corporation
In fact as was shown by the Barnard investigation ali
trial tie system Of njunctOns and references had been
so corrupted that large corporations had been driven ou
of New-York while Others had been rendered ihs0yeut
Then IL was the judges who were most danZeoi, 10 hs
corporations; the peril proceeds in the courts rga
malicious litigants.
Another source OF annoyance and often of ruin 10
corporations under the old corrupt administration IN
this city was the Legislative Investigations winch
occasionally instigaed 10y active lobbyists or dsafected
stockholders In nine out Of ten under the Rnz
the investigations OF the affairs OF financial nsutiOas
were for the purpose OF blackmal after Reform et IN
with a heavy tide there were dozen or more inquiries
into official mismanaRement here which accomplished
good But the investigation OF the Mutual Insurance
Company which has been adjourned 10 Albany appears
to be in matter, we'll as in manner and purpose
revival OF the old and oppressive system which workef
only ruin This investigation appears 10 have been a-
sligated by Mr. English, who has been bns IL jail F
some time past on charge Of libel As 10 how justly Or
uniusty he is charged it is not material An inquiry
similar to that proceeding seems 70 have been de-
MED Dlr English by q court TO which he appealed ol
the ground that his purpose iD asking was to obtain ID
formation for his defense against tie charge OF LIBEL OF
the President OF this company, whom be usistei
on defaming although the facts elected by the legislative
Committee had been brought three years before. IN
examination by the superintendent OF Insurance and
nude chs beeu
before that officer and a Committee. As far yeI ap.
pears nothing new, aud certainly nothing tbai j. NOS
positively trivial, has been elected. lt seems piODalr
that personal malice has been at the bottom OF IIs
inquiry. The credit OF great company mas thus been
temporarily threatened and the State put 10 large ex
pense unnecessarily, and, as IL seems unwarrantahy
such inquiries are the province properly OF tie stle
superintendent Of Insurance. The charges were ml1o
and refuted three years ago; and ii lurihcr inquiry
were needul the new superintendent shvud nave eVA
ducted it.
Itis to be hoped that this, which has already appa
rently a lame conclusion i 70 De the last OF h'
Of outrage upon insurance companies In the IN
terest Of all policy holders the strces scrutiny Of le
management Of all institutions OF this hnG - requisite
there cannot indeed. be too eNactng supervision ot
them. But little more faith c3n be repOsed IN the fair
OF legislative inquiry Than IN the justice
OF a court presided over by CardOzO OF Barnard IL
not the business of the Legislature IN any sense; ana
when next the Committee on Grievances comes 70 N.
VesgdtC the appeals of DrISOuer it Is % be hoped
that will not resolve itself into Committee on h-
surauce
Neio- York, April g. 1873.