The New York herald., 1874-12-08
AMERICAN TRUST COMPANY.
The Hearing Before The Judge OF Pro-
bate-S0me Idea of the Standing and
Condition Of the Company.

The Hearing Before The Judge OF Pro-
bate-Soms Idea OF the Standing and
Condition OF the Company.
NEW HAVEN, Conn.,, Dec. I, 1874.
The matter OF the American National Life and
Trust Company came up for q hearing to-day at
the office OF the Judge OF Probate in answer to
the petitions OF Insurance commissioner Stedman,
who, with his assistant Mr.. MaltDie, and Mr.. H.
b. Harrison, as counsel, was present. There were
also present the counsel or the company and
o large number OF insurance men. Colonel
D. K. Wright, for the company, asked for
an adjournment OF the nearing, as notice
was given at the last meeting that
such motion would be made, and that notice
had also been given by the prosecution that the
motion would De resisted He stated that he had
supposed that the investigation would have been
arrested BY the raising oil the constitutional ques-
tlon. Since the investigation began circulars had
Deen sent to ell the policy holders and Others
interested In the company In order that .
perfect understanding OF the financial con-
ditlon OF the company's affairs might
be reached. The company desire an exhaustive
hearing, and an exhaustive nearing implies an
exhaustive preparation aud time In which to
make the proper arrangements.
THE STATUTE PROVIDES
that on the 3lSt day O December the affairs OF the
company shall be localized; also tnat prior
to tae arss day OF March following q state
assg %sns see ae Ss AZ ana ns
the whole snail be given TO the Insurance
Glseen states OF the unoHn Sy 100 agencies TO ali
THESE agencies notices mad been issued. put 1t was
not believed thai all the returns could be OBJ.
will expedite the matter, the company not de-
sl.lng delay Tor the sake. OF delay. The
Sopa TO proceed. Every ' day granted Of delay
at present would speed the trial SO
mucn. Tne National company had become vlrtu-
ally the Home company. TO the surprise OF the
directors certain irregularities had been discov-
overhaul the affairs OF ali the companies involved
Is necessary. II the New York company had been
involved IN fraud It was to be hoped that the
National company would not be thrown into
bankruptcy on that account, but that the fraud, II
possible. might be SO proved. In conclusion. he
ary s, 1876.
STATEMENT BY OPPOSING COUNSEL
Mr.. Harrison, lOr the Commission, said:-lt Is
not difficult Tor an ingenious counsel to find
grounds which look fair ON which to ask for delay.
rney speak OF the di1lculty IN arriving at snus-
matter, as they well know. can De easily settled.
They have, as we nave. experts employed to de-
eide. The public demand that not one iurther
hour OF delay should pe granted.
Colonel Wright said that at least nve estimates
OF assets and liabilities should be made. II m ade
in the once less timo would be required than II
taken at the mouths Of witnesses In court Experts
had claimed that the examination would take till
Judge bradley said he did not see how the esti-
nation OF the assets should be matter oticult TO
on the amount OF reserve necessary TO be held. He
thought the experts should have time to
make the examination, and. as on good au-
thority 1t was averred that 1t would take
two or three weeks to prepare the cases he
thought tnat amount OF time should be granted.
He should be compelled to call In q superior Court
judge to Sit with him at the hearing, but as no
judge had yet named the date on which he could
further with the judges and so soon % ne could
ascertain on what date Q judge could be procured
he would set down the GATE tor nnal hearing.
The Court then adjourned.