New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-07-21
ERIE,S CLAIMS.
DoRMAN II. EATON's MISSION TO ENGLAND-EFFoR1
TO RECOVER MONEY FROM JAMES MHENRY
AND THE LONDON BANKING ASSOCIATION.

DoRMAN r. EAToN's MISSION TO ESGLAND-EFFoRT
TO RECOVER MONEY FROM JAMES MIIENRY
AND THE LONDON BANKING ASSOCIATION.
DOrman b. Eaton has been retained by the
Erie Railway Company to recover the money which Is
alleged be due from James McIIenry and the London
Banking Association In order TO effect this, MI Eaton
has gone England According TO an official statement
by President Jewctt the funded debt outstanding
at the time of his last report was S5i,39f,-
100 the annual interest accrung thereon being
81 O73 LOG Sc OF the second consolidated mortgage
bonds sI1 400 900 still outstanding, the balance Of
bonds 5000 600, making up the full amount OF the issue
authorizcd-e3 900 600, or 200 600 remaining with
the Company. This issue of bonds was placed with
fine London Banking Association for negotiation and
Presidency o" me Company hoso On handy 3y mad
been reported to The Company as sold realizing
a2j9,5si Moneys had been received from time 10 time
on account these bonds but information at what rates
they had been sold, if sold all, upon what terms
they had been hypohccaisd fhypothecated was no, IN
detail communicated 70 the Company. e, Tae
i3I rs 3D., or s2,5i2i57 70 less than the
aggregate proceeds Of the sale. after deduct
ing the charges as stated, which amount remains
in the hands Of the London Banking AI,oca,on "la
itv or Justice of which the Erie Company VIII not recog
II is with view to recover this money that Mr. Eaton
has gone England In addition to this Mr. lsaton II
attorney for the foreclosure of the nth Erie mort
gage and III the proceedings OF Sir John s%inbarne me
trustee Of the d" Leased Line Rental Trust Mort
gage of the Atlantic and Great Western Railroad
was supposed represent the Mcenry interest III this
country, II il understood that Ir0ient Jewctt VIII
contest the legality OF TIE consolidation m3rgage ana II
he does coed in having II declared illegal, VIII Try
to arrange that the Ee Company snail al ow no mere IN
considering tine value Of tine bonds than the amount ac
Board Of Directors was organized yesterday
by the reflection Of Hugh Jewet as President, ~ T.
Sheannan, Treasurer aud A. L. MacDonOugh, Secretary
TWO INSURANCE COMPANIES WITHDRAWN.
| THE GLOBE OF CHICAGO AND The MISSISSIPPI
VALLEY OF MEMPHIS RETIRE FROM THE STATE.
The Globe Insurance Company of Chicago
and the Mississippi Valley Insurance Company OF Mem
phis Tenn whose Ncw-YOrk Office has been at No. 10
Iberty-st, have Withdrawn from this State. Insurance
superintendent Chapman began the examination of the
Globe Company few weeks but he had only par
TALLY completed his work when the Company agreed to
withdraw the By the first day of August, and
the examination was discontinued. The general agent
Of the Company stated yesterday that the Company had
decided withdraw entirely from the East, and here
after confnc itself principally to local business They
had found the insurance business Improbable through
out the East, while they had made money at home.
Mr. Biazier. agent Of the mississippi Valley Company.
stated that Mr. Chapman had objected to Tennessee
and Mississippi State bonds held by the Company, al
though they not different from what the Company
has held since it began to do business in this State,
the market value Of these bonds is to-day far above
what tie Company paid for them The officers of the
Company had offered to change the character of the
could have 80 days time to make the negotiations, aud
in Tie TINE they would put up additional securities
to tie assumed deficiency This proposition how
ever the superintendent had declined to accept and the
| Company was therefore compelled to withdraw. The
officers will pnt their securities In such shape will he
! satisfactory 10 the superintendent at once-at most
within 80 days-and then make application for permits
| sion 10 recntcr the Stale.
The aggregate of actual available of the
Globe Insurance Company on the 1s day OF January last
according to the statement made TO the New York
Insurance Department. was s6J9,GO0 93, OF which
S762J6 81 In premiums in OF collections tie
reinsurance S2Is.9O7 3d. and the total lia
bities, including capital amounted To SGOS,2l3 q. Ii
would appear by this statement that tho marine aud in
land business OF the past year done i'll NewYOrk was
very unsatisfactory, the premium receipts tiiis
OF RISKS amounted 10 sol5l aud the losses Tor the
time S33, S23 The condition ~ the Mssis-
sppi Valley Insurance Company at the date, as
| shown 10y their sworn statement, was an follows:
Aggregate available as Sf9.O fO ~
Aggregate iics intending captain. o97J.3 81
Premiums IN couTr" of collection $3.50 10
Reinsurance fcn,fN 40 D 10
According Ia tins statement, the Company did not
write any marine policies this state, while the
OF tire premiums receipts business done in the
state during the past year amounted to = IL 500
Al