New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-12-01
CHARTER OAK LIFE INSURANCE con-
PANY.

polcyAolders OF the above Company may well c0ngratu
late themselves that experienced life insurance capital
lists Of unquestoned responsibility have been secured %
guarantee its integrity and sody As will be seen by
the annexed statement Judge Z. b. Wgsn, formerly OF
Boston, now OF Hartford, and Henry J. Furber, esq"
Vice President Of tine Universal Life OF NewY0rk have
been secured with 100000 additional paid ia capital to
strengthen the Board OF Officers and place beyond ques-
ton the 3oycnry Of the Charter Oak Life Insurance Com
pany. Judge WisEn takes the Presidential chair, Ar.
Furbor the responsible position OF Financial Manager
Mr. : White long connected with the Company, Vice
President and Treasurer; SIR 4. H. Dillon jr, veteran
ard successful life Insurance worker. Second NcePresi
dent Mr Hasey stevens remains as 5ecretary and Mr.
VIM. L. squire. Assistant Secretary.
This change Is in tho OF the p0lcyhOlders a.
well rs the Company, aud Is therefore matter OF con
graduation by both.
Although the Company was officially reported perfectly
solvent even under tho rgd requirements Of the ~ per
cent interest credit laws with surplus Of Sl2l7O5S'
yet temporary hrnkage OK the values OF some OF its IN
vcstments owing 20 business depression exposed lie
officers % what they deemed unjust criticism and there
fore tcy resolved the requisite additional cap
ita TO place tho assets OF their Company beyondqueson'
which by the change hereinafter made AAs been accom-
plsAed
TIL Charter Oak Life organized IN 1850, and at the
date Of the last official statement had over el3O0OOCo
accumulated assets, with S62OO0OOO % insurance
in force an annual income Of nearly St,OO0OOO and
new President aud Mr FTbcr. the Financial Manager, 90
push the Company the rank OF any life insurance
institution OF chs country, and OF one thing IL policy
holders may rest assured, II intelligence, industry per
sons interest, uuimpelchabe Integrity AMI capital viii
guarantee tie success Of any company nom this daJ
forth that OF Charter OAK Is secured Tie following
Is a statement just received announcing the paiuoul-
OF ,ae cLause-ylz.
OFFICE OF THE CHARTER OAK IUF ISIS. Co.,
HARTFORD, Conn. Soy. -, $50.
To the agents md Policy holders of The Company II tie
last annual report OF the Hon. John w. s;cdman In
surancs Commissioner Of The state OF Connecticut por
ton Of the Oh this Company we're criticised b.
cause their then market value considered shor5 Of
the invested in them. The officers and Directors
then believed, they believe that the depreciation
was , matter only fnp0rQrAy affecting tie Company
stability and In this view the Commissioner evidently
ooucurred; for in tho following words, given in his
official capacity, he distinctly stated that the Company
was entirely solvent, notwithstanding the apparent
duced market value III some Of its assets
srArE OF CoSNEcUCUT.
OFFICE OF IN-URA sen COMMISSIONER
HARTFORD, June IL, lS75. }
JAMES C. WtLKLEY, esl.. Pres'Geat 0f tie Chgrer Oak
LIE bSutrHtcc company.
Ny DEAR SIR In my structures upon some OF the
transactions OF your Company, presented in my opor
to the General Assembly OF the state distinctly
guarded against the inference beng drawn from them
that your Company rendered in the slightest degree
unable 70 meet obligations and contracts promptly
The opinion I gave. that the ability OF tie Company
10 al It's obligations Is thoy come due Is abundant
aud uuauc.tonable. is based upon d careful examination
cfaIl s assets during the past month, made not Ouy
without objection by you bat IN accordance with your
invitation.
But .t the same time biz stedman expressed to Tie
directors the opinion that the good OF tAe Company de-
manGed that some arrangement Do made by which 81
amount should De contributed 10 s assets equal % such
apparent depreciation Of market values Of some OF ITS
aftftvI rrfata an
become equal She par value OF the same sach course
would In tic fret place relieve tho Commissioner nom
an Official embarrassment By preventing te Necessity on
his part OF setting value certain investments higher
than the seserest critics might be Disposed 10 put
upon them. Il would also utterly dislrm all persons
who from whatever motives might he disposed 10 take
advantage OF the temporary depression Of values 20
question the iuancG! sOllIty OF the Company.
Actin. In fun accord with the Commissioner sug-
ycsous the manager. Of the Company, m order 20 make
an OF - good, and 10 remove Gl questions relating
ithDrotJ have arranged % supply tie apparent deficiency
caused by tie market yaius depreciation Of some OF l''
securities.
To succeed IN this they must needs deal with mon 90.
means possessed OF fl knowledge Of tho bus ness o. l.
Insurance. md able 10 look into and make valuation o.
tile probable future worth Of the assets referred %. Such
men were found, and carefully guarded negotiations BOD
the interests OF Ae pocyLoders were entered into and
resulted most satisfactorily, thut arc now aoo 20
made perfectly to fun amount Of the reserve
required by the most rigid laws OF the state.
Aa Aatt,r OF COARSE 10 conceded Chat those con-
tbutu To- the assets OF the Company should be repre-
scented n Us management. aud certain changes We're
therefore mutually agreed upon. These changes IN
VOWED The resignation OF Mr.. Wakley tie President
who retired that he may give full attention TO the inter-
este of the Company IA an Investment IA winch 10 a
largely interested. MT Wal,deys resignation takes
effect 90 tne next annual meeting, ana MP 20 thar time
tle Company will have the benefit OF hi- n innate kuow
edge it, business. IL l. also understood that hr
WaaIoy VIII. after the time just named. remain a-
rector and De closely iJent.n-d TIC interests ana
success of .Ae Company.
The Hon T.. L. Wiegn. lat of Boston. VIII be 40
associated with the Company acting President This
gentleman has been long aud fayorabiy known In CON
nectiou with large financial interests in NewEnsaud.
and brings 10 the Compauyo service ripe business eA
pereuC- combined with knowledge OF the theory and
practice OF Law all % great service 10 the Company. IL
order % make him Director. Mr.. II. C. White, Tor
long time holding that position, has resigned, ana aIr
Wiggin has been appointed IN his place.
Henry j. Furber. esd, OF ScwY or hasheen appointed
Financial Manager o. the Company from ths date. NJ
FuIber was applied in the progress Of these ncsot
lions as gentleman possessed OF large means and ample
uic insurance experience and having assented 20 the
solicitations Of the Company, chiefly instrumental in
upply.la the required assets before referred 10.
NJ = White who has been with the Company orneary
tweuty-thoo years remains Yicepresdent and Treas
urer aud viii give his entire time ana the pro
motion OF It's interests.
MA H. Dillon IT, long connected with Life Insurance
Interests and widely and fayorably known success
fuI organizer Of agencies and laborer in tho Geld" has