The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-08-25

| which Mr.. Homans the Actuary o; tn,a .,,,o,,.,.
pronounced "a reform s-eativ aeede6 in The ar.,
| tice OF Lie Insurance. letter was aLso mr..
sented from an influential poIicy-hoder m In
Company. addressed to che Board, and strenuo,sy
| protesting against tins action OF Mr.. Honnans a.
tending TO build up other companies at the ex.
pense OF the one he was paid TO serve, de
characterized as a great injury to the policy
holders The second advertisement aud the above
| iet.er were referred TO the committee appointed
Letters were also received from nearly all the
general agents or the company, strongly condemn.
ing me course OF the actuary, and complaining OF
lt as an injury TO the company and To their b lsf
ness.
The committee proceeded TO investigate the
SUBJECTS committed TO It. 10 appeared chat IN
August, 1864, Mr.. Homans had addressed a formal
application to the Board requesting perinssou To
employ his leisure as mathematical counsel Tor
other Lille insurance companies. On the I7tu Of
quest and denied the permission sought r. ss,,
appeared that under date OF May 2, 1855 apparently
,no n ms previous auuson TO 'lcsure," he
nau. when urging an increase OF his salary written
that his "duties involved an amount OF labor
research experiences, and responsibility not ex
Cceueu ny those OF the second Oficer OF any com
pany, Marine, Fire. or Life, the c0untry.T BUS
notwithstanding the refusal by the Board to per-
INIT MN 10 employ his 'eisure - IN the service IA
other companies, and his subsequent descriptaorp
OF the nature OF his duties so engfossing as To-
leave hlAn no leisure, IL they were properly per-
formed, 1t was ascertaned, and when dressed Nv
the committee, admitted by Mr.. Honrlns that
elusive service OF this company, he had Iacted as
Consulting Actuary ior pay for the following COM
pantes:
Universal Life Insurance Company.
Washington Life Insurance Company.
widows and Orphans Benefit Life Insurance.
Company
National Life Insurance Company OF the United
States.
Standard Life Insurance Company.
EQUITABLE Life Assurance Society OF the Unites
Massachusetts Mutual Life Insurance Company.
New York Lie Insurance Company.
Home lie Insurance. Company OF BrOokIym.
ana for some OF these companies he was employed
on regular annual salary.
For but one OF these companies had the Board
ever granted Mr.. Romans permissiou to act.
If these facts do not prove duplictty, insubOrdt
nation and unfathfuness do not understand the
that he was ..unfaithul TO the company never" 10
on a par for veracity with the calumnles which
make up che greater part OF his card
The President OF the company ase- addressed o
letter to- the committee charging, in substances,
that the service OF other companies above alluded
to was secret in known and wilful defiance OF tue
express action OF the Board, which nad years b.
lore refused Mr.. Romans permission so to acs
ests Of the company that Mr. Romans was idle and
inattentye to his duties, devoted to pleasure and
thies were actively with those who had already be.
gun to harass and annoy the company; that he
GUS and Unreliable. Mr.. Winston gave many speci-
locations, and concluded his letter as folows:-
ut may be asked, If all these grievances have
existed so long, why are we now for thelfrat time
apprised 81 them Unhappiy, my want OF conf
secret Tue Es TO naTno1z Ie prs mas %
cultieS have been repeatedly made. ReuctaDcd
to lnjure the pecuniary and professional prospects
OF an associate, unless under the OverpOwerin4
pressure OF a sense OF duty has been constantly
operative to prevent Exposure. Self-respect. had
no other reason has led me to refrain from DrL
vately visiting our trustees co instll nv own
views into their minds and to undermine theil
coincidence In one with whom was Officially CON.
neeted
s.No personal considerations or anything Ieu
than peril to the Interests and prosperity
of this company would have led me to take tue
unwelcome measure of writing thus Of fellow
0fiicer These and kindred reasons nave led me.
TO refrain from OfficiaL action Til moved thereto
by nv positive con yictions OF duty
.In Conclusion l have to say that IL ia nv dehb.
crate indgment that ME- HOmans, interests and
ceilings are alienated from the company and the
present management to such an extent as TO make
with either. Very respectfully your obedient ser
want +. $. WINSTON, Presideat.n
The committee had this matter In charge for
about thirty days. They met ON Saturday, January