, 1874-08-29
INSURANCE NEWS.
Tho Atlantic s. Pacific Still Docp.
er III tho Miro.
Tho franklin of Wheeling.


THE ATLANTIC & PACIFIC.
Abdttt throo noths ago tho Attorney General
flod Bill Information in. the nnstlro OF quo VAR
ratito. aganHt Tho Atlantic i Pacific INSURANCE
Company, to wind up its aiTairY. An nrgan,ont
was at onco had on tho question Of tho appo'nt-
mont Of Roaeivor, but postponed fot fow
wools to ounblo Tho Company to mako up tho
deficit alleged by tho Auditor Of Stnte to oxist
In its capital. At tho expiration Of tho
tin,o tho parties mot again, tho
Company having concluded to agroo to tho ap-
pointmont OF Receiver.
A stated at tho timo in The Tribune, tho
officers aud stockholders Of tho Company arc
DIVIDED IN THE1R VIEWS,
somo Of them wishiug to get control Of tho Com
pany to tho exclusion Of the others, and hence 4
a disagrcou,out. Judge Moore, however,
WIS not present when tho parsios
came togotbor, and tho mattor vas post-
poncd until yesterday The Judge was again
abaout yeaterday> aud tho attorneys, a'ter de-
laying for q time, separated without auy ar
raugement being lnado or Iloooiver bong agreed
OK.
Tho partics representing one phase Of tho con-
1licting interests OF tho Company yesterday tllod
bill iii tho Superior Court relating their view Of
tho Compat,y's affairs, aud asking for llo
APPOINTMENT OF A RECEIVER
to collect tho ronts, otc. Their nance are charles
VIII, William Robcrts, George A. uerrick,
Joseph Dut,cs, md u. Il. Thayer. They state
TINT they arc stockholders in tho Company, own
Ing stock to tho amount OF $4,000, aud then
G3enoral. In That bi1 il vas stntod lint tho
isiA Ind found the a'p1ss assets q q t'o @ Company
to be worth only !s2o9,e92.37 instead Of
S415.333y0 as claimed by tho Company. No
examination waa made Of tho liabilities,
as It evidently appeared that thoy oxooodod tho
aaauts III amount. III tho Examiners report tho
Company was credited with having gas, II in
bank aud s20. 0.222.2 iu Uovornmont bonds.
Complailanta now allogo that a. tho present
moment tho assets Of tho Company ara not eyon
worth tho ntnouut they woro at tho dato Of The
ExaminorA' roport while tho liab'tttiea al much
greator than the Cumpahp's esllanate Of them.
il III also alleged that, at the time Of filing tho
former bill, all, or nenrlg a'l' tic asae1a haa
boon
TURNED OVEN TO CERTAIN coAtMiTTEEt
and arc not uos under ahe Compaus's oo"trol.
! Ono Of the CompanY'a officers haa admitted that
tllera il not auythng liku S2d, GU N bana 70 tue
Company's crod,t, md il does not own now any
dove,nt,ent bonds, Il IL alao claimed that tue
liabilities arc about a1ua,000. Cumplainante
also clarge that for tho past three weeks but
little has boon done to 1na4o up tho inlpaiI mont
in tue capital; that tho tsmo has been
GompauyTs cunoorns il deyM'ng ways
to withdraw ,l,or seoufitiea in tho Company'a y
possession, and thereby toliavo &homsaiyas from
any liabiilty.
1t is also charged TINT tho Company now ad-
m!ts it's canital is "atort" to inc anlpunt Of
$22,b71. aud 1t ID claimed that Its asseta are In
very bad condition, iis roal.ostato SECURITIES
nearly yalueless, and Gene.nl!g that tho Ca'a-
pAny la -.-.--.
TOTALLY iNBoLvENT,
aud tAat it iB absolutely necessary that lss-
ceivor should bo appointed ut once. Moreover.
complainanta think tho Company laa received at
not beon accounted for. A lluceiyer mud account
arc therefore dealred.