The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-11-17
LIRE INSURANCE UITs.
More iesaI Assaults ON the United states
COMPANY President Bueirs Repiy.

Hardly has one suit against the United
States Life Insurance Company been Instituted
before another Ia com N enced, with the prospect
Of more to follow. The persons who bring
these suits say that their interests as policy
holders or stockholders are being jeopardized'
and the officers reply by calling the aggressors
"wreckers." Tho latest suit Is brought by John
Tilton and others In the Court OF Common
Pleas. Their attorney IL W. J. Butler. The SUIT
is commenced by summons, and the defendants
are the United States Life Insurance Company,
the Union Mutual Life Insurance COMPANY,
James Buell.. Charles p. Fraeish, AMI John +.
DE witt. An order has been issued for the ex-
animation of the last three defendants on the
affdavit Of the plaintiffs that they cannot pre-
pare their complaint without discovery OF
certain facts.
The plaintiffs alle9e in substance that the on
GERS Of the United states Life Insurance Com
pany have formed n combination to reinsure its
policy risks and other obligations in the Union
Mutual, and that in furtherance Of this object
the late President. John L. De witt re-
signed his POSITION and became Presi-
dent OF the Union Mutual. james Buell.
was then elected President Of the United
States Lie, and Mr.. De witt at the
same time was made consulting director OF
the company, mt n salary OF $4,000 yelr. MIR.
Buell. ana MIR. DE wiz, It IA alleged, then OBJ
tanned control Of the ca ttal stock; compelled
the resignation Of all directors unfavprablo to
the intended amrlgimetion; billed their III uces
with moro plinn' men. and now purpose to
traDs1sr the assets. Including the eighty p.r
cent. hed by law ~ trust Tor policy holders. II
is specifically changed 10y the plaintiff, that they
| were induced to surrender pOlici for new and
single policies; "tnat the amount credited bv
! wav OF premiums on the last p"licy was not the
| whole surrender value Of former policies. nor
| hut a small proportion, and that the gfsater pro-
! port ~ OF the rp-prNa DtlOngit9 to no fOf er
! ruiicies. and Of tho legal surrend r value -
! which amount should hive heen credited and
! allowed-w misapproprlated either bv the
corporation lie officers" Mr.. Buell., Presi-
! dent Of the United : ates Lie, IN the pres
/ cnre Of two OF the or1cers u his company,
/ III Yesterday 10 u reporter that there was no
! intention on his part or that Of his directors to
! am iramafc the United states Life with the
/ Uninn Mutual or ANY other COMPANY. He denied
| that Nr. De Witt wts ~ any manner con-
/ noc.ed with the United States Life. In
| explanation Il the office OF co suiting director,
held hN Mr. Ia Wit. I've said hos alw. vs.
| been the custom " this company when any otii-
| Ger resigned his position In good standing TO
! cuutinu" his salary Tor three months. When VT.
! DE Witt resigned. hc.was thoroughly CONVEX sHn (
/ with all the details OF the business. In accept
ing the lresidency requested the directors To
retain MIR. lie witt AZ his former sal ry rs con-
! sulttng director, until could become convers-
/ ant, 10y his aid. wth matters OF which was
/ then not infui ned. lie was retained as con-
| sultiug dhec.Ov because. simply a. a
dt7 ctor. he wOuc not have been en-
trlcd TO paw. This was ABOUT the l<t
| Of August. and Mr.. DE Wits connection
with the COMPANY enti ely ceased cary IN Oc-
tubrr. since whtcn lie has not received one cent.
wi h regard TO tue oihcr ALLEGATIONS, they elna-
nrte rom the same source the former suit.
II IS 1T the instig ton " the same attorneys.
| VINO asked To he retained nv US. Stating that IL
| would be Ia tue c. tnpanN's adv ,ntagr TO have
! them ON IT, side. As ~ wOuli not kuuckle To
thcir desires, tneN took sides with the wre. kerr,
! auu Untci up some one Interested In tho COM
| pauN, either as policy or stock holder-. through
whom TO institute these suits anu carry Out
their scheme