The sun., 1873-07-23
A Card from Mr.. sheppard IIomuus.

10 the Editor 0t Inc SUI.
The July number of the Spectator, a
monthly paper devoted to insurance, contains
an account Of an d" "intcrview " between It's editor
and MIR. Frederick :. 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.. (Ac-
tuary) Iomanss retirement from the Mutual
Lifcy"
"winston-In brief, unfaithfulness, incompe-
tency, obstinacy, impracticabilty, and insubor-
dination, In my opinion, were the reasons why
the board rid themselves Of HIM"
] am by profession a lifc insurance actuary,
and depend In measure for my support upon
the results OF my labors as such. l am also
bound to protect my character from defama-
tion. cannot therefore let the statement
above quoted remain unnotced. Had Mr..
W winston given To his interviewer the facts in
stead Of his opinions, and allowed the public to
form their conclusions, no notice Of the matter
my part would have been necessary. The
facts are these;
In November, isao, was the Auditor Of tho
Mutual Life Company, and Mr.. winston the
President. lie brought to me for audit the
official quarterly statement Of receipts and
payments, prepared under his direction by the
b"okkeeper, in such manner that upon investi-
cation detected the fact that certain items had
been Improperly withheld In the final payments
of death claims to the representatives of de-
ceased policy holders, the books Of the COM
pany having been already prepared under HIS
order, with view to depri,e 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
him, and involving myself as an accomplce in
the pcrpetration Of an act Of dishonesty to the
3 ltgv H,i irpc violation pf ~
charter of the company. / therefore declined
auditing the statement beyond certifying that
the same "wds In accordance with the entries
I upon the books Of the COMPANY" This cerih-
/ cato he passionatelv and violently erased, with
the threat that II did not audit the statement
/ In the usual manner he would ind somebody
! else for actuary who would.
| That In tni- matter | was unfaithful to Mr..
/ Winston In his scheme for defrauding the bene-
! nciaries under certain policies OF the company |
/ adult, but unf4ithful to the company never.
! That TO MIR. Winston was in this matter Inn
practicable, iAslbotdnaic, aud obstinate is GER
I tany true.
Iron this occurrence 1t of course became
necessary that should hc got rid Of; hut Mr
I Winston doe, ht:lc justice to his position in
] the company by stating that tue trustees d.
termincd 10 Get rid Of re. II the trustees hVi
come 70 such doterninatioe = w"u.d have
been pfacticaily Of M ntt,- moment. uni, -
MIR. Winston SO willol IT, / v-us got rid Of 10y
4 Mr. winston. Ever since he oustod Mr. Collins
from the Presidency 10y the secret collection of
, I.oNic-, Nr. W.u-tou has held absolute control
/ uf the company 10y keeping in lis possession
. lroE ga of such policy hoderS A., having given
them originally upon the solicitation OF his
agents, have been too indifferent or too indolent
| to cancel them. Each Of his trustees holds his
place by the appointment or liberation Of MIR
Winston, and from time ~ time the most re-
| respectable merchants who have been members
Of his board, have been got rid Of for exhibiting
"obstinacy, impracticabnity, and insunordna
ton amounting 20 "unfaithfulncss TO Mr.
! winston. in regard TO such schemes and prac
ices Of his as be may not have been able to cob.
ccal from the knowledge Of the trustees.
His charge OF incompetency, la that ! wa,
accountable for the fearful blunder in the dis
/ tributlon Of surplus N 1870, and that said blum
I der was occasiuned by u mistake II mine, /,
I simply untrue. II WAS occasioned by the direct
interference Of MIR. winston, In opposition tt
the decision of distinguished referees. which
had been approved, adopted, and ordered ear
RED out 10y the Board f Trustees, and he 4,
responsible for the blundor, as he wen knows
Mr.. Winston never Nould have made this charg,
against me except under the excitement Of feed.
ing growing out OF circumstance beyond my
control, viz that lately gave testimony mndel
the compulsory process Of ,ubpUnal before the
Assembly Committee during an inyestiga ior
which resulted Ia his convection of malfeas nee
In on, G. Of the uuwmr.nted use Of trust funds
and OF fraudulent attempts at concealmont OF
hs conduct by false ana altered entries in tn,
books OF the company
SHEPPARp HoNASs,