The Portland daily press., 1873-07-25
A Card from Mr.. Sheppard H0mans.

10 he Edtt0f OF ule freSS.-
The July number of the Spectator, a monthly
paper devoted to insurance, contains an ac-
count of an "interview" between its editor and
Mr.. Frederick S. Winston, President of the
Mutual Life Insurance Company of New York,
from which the following is an extract:
Editor-"What were the causes of Mr.
(Actuary) Romans retirement from the Mu-
tual Life?"
Wnston-'Tn BRIEF unfathfuness, incom-
petency obstinacy, impractibility, and insubor-
dination in my opinion, were the reasons why
the Board rid themselves of him.
/ am by profession life insurance actuary,
and depend, in a measure, for my support upon
the results of my labors as such. 1 am also
bound to protect my character from defama.
ton. 1 cannot therefore let the statement
above quoted remain unnoticed. Had Mr..
Winston given to his!nterviewer the facts in
stead of his opinions, and allowed the public to
form their conclusions, no notice of the matter
on 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
President. He brought to me for audit the Of
fiscal quarterly statement of receipts and pay
ments, prepared under his direction by the
bookkeeper, in such manner that, upon inves-
tigation, I detected the fact that certain items
had been improperly withheld in the final pay
ments of death claims to the representatives of
deceased policy -holders, the books of the COM
pany having been already prepared, under his
order, with view to deprive such parties of
said amounts so due them. To audit this state
ment by certifying the same in the usual man
ner to be correct, would have been justifying
the preparation OF an act OF disnOneSuy to tire
policy-holders, and direct violation of the
charter OF the company. l, therefore, declined
auditing the statement, beyond certifying that
the same twas in accordance with the entries
upon the books of the company" This certi-
fcate he passiolately aud violently erased,
with the threat that if l did not audit the
statement in the usual manner, he would find
somebody else for actuary who would.
That in this matter | was unfaithful to Mr..
Winston in his scheme for defrauding the BEN
efciares under certain policies of the company
! admit, but unfaithful to the company never
That to Mr.. Winston was in this matter i'm.
practicable, insubordinate and obstinate, is GER
tainly true. "a
Upon this occurrence, it 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 determin-
ed to get rid of me. If the trustees had come
to such determination, it would have been
practically of but little moment, unless Mr..
Winston so wlled it. was got rid of by Mr.
Winston, Ever since he ousted Mr.. Collins from
the presidency by the secret collection of prox-
les, Mr.. Winston has held absolute control of
the company, by keeping in his possession prox-
les of such policy holders as, having given them
originally upon the solicitation of his agents.
have been too Indifferent or too indoleut to can
Gel thu m. Each of his trustees holds his place
by the appointment or tolerationof Mr.. Wins
ton, and from time to time the most respecta-
BILE merchants, who have been members Of his
board, have been got rid of for exhibiting sob
stInacy 1mpracticabilty and insubordir alton"
amounting to "unfaithfulness to Mr. Winston,
in regard to such schemes and practices of his
as he may not have been able to conceal from
the knowledge of tee trustees
His charge of incompetency, in that was ac-
EQUITABLE for the fearful blunder in the distri-
button OF surplus in 1870. and that said blunder
was occasloned by mistake of mine is simply
untrue, 1t was occasioned by the direct inter
ference of Mr.. Winston. in opposition to the de-
cislon OF distinguished referees, which had been
approved. adopted and ordered carried out by
the board of trustees; and he is responsible for
the blnnder. as he well knows. Mr. Winston
never would have made this charge against me
except under the excitement of feeling growing
out OF circumstance beyond my eontIol, viz:
that lately gave testimony (under the compul
sorry process of subpOena) before the assembly
committee, during an investigation, which re-
suited in his conviction of malfeasauce in office,
OF the unwarranted use of trust funds and of
fraudulent attempts at cOncealment of his con-
duct by false anu altered entries in the books of
the company. SHEPPARD Romans.
PSI BROADWAY, New York, July Is, 1873.