New-York tribune., 1876-12-16
TIE WEAK COMPANIES.
lBY TELEGRAPH TO TIE TBIBUNg.l

so OFFICIAL STATEMENT 90 Inv sECuRrHS REAL
CnypIIIoN-MAY, wICEntMs ACCEPTANCE cF
TUg EFcEIyEE,Hir-FOELnOD or IuRIilEIS
DISASTERS.
The examiners engaged in investigating the
books and accounts oi the Security Life Insurance Com
piuv h&vr nearly completed their vorK, but Deputy
3uperuieuJcut Mccall VIII permit statement "i the
re- ul's 10 be- made until hs report Is sent 10 surcrin
tcudrrt SMITH and published IN the state papcg. No
hone b scd by the officers that the compauys con
dition viii be found much more favorable Than II 'p
ps,rrd IN the partial statement male by Mr.. Mccall TO
the court On Thursday whether anything VIII De
s.y.a from ilc wreck for the benefit ~ policy
holders will depend very much upon Oh"
rapidty with which II l. closed mp Anxious Inquiries
were constantly made 10 tie office yesterday by policy
holder. and so. EhuIers bat only the yIggcsI answers
were received. There ms ~ have been hard stTg
ge for stunce nom dny 90 day, Tor some months past
4 policy for $4,000, on the NE oi Brooklyn g'nte
man who dcd IN Europe last June, was not paid the
father having been put oil with excuses Whenever ne
called to collect the nmuut Tie rsOna honesty OF The
officers Is unique, toned by all who know themi hut there
are Discrepancies, statements, and lhe
actual assets found by Mr.. Mccall which need rNlana-
ton. AZ a meeting Of the Board of Directors on lhuis
day cJmuiitec was appointed 10 investigate lh' man
arrmcnt OF the company it is not thought that they
will act receiver having been appointed who Is accept
able to the directors and the Insurance Department
Noyor WIcinrn has accepted the cocycrshp, aud yes
tcrIay gave bonds In the sum OF SlOO,OOO james .
~ aver and John y. Hayward signing the bonds. Mr.
Uurd The receiver W the Third Avenue Savings Bank
will h, Ir Wckhams assistant, at least untll the
Majors term OF Office expires.
The failure o the Security following so soon on That o
the Continental has created great apprehension among
life insurance officers, who realize that nothing can now
Hay tAe popular dsrst except thorough UEethdulhS
nf AN rpauies and tho relentless suppression " tho5o
which are unworthy Of pnbLc confidence. Inc su0hs
rrulpaules demand rigid examination, IN order that
their yOunducss may he made manifest ana the iceDo
,,I,ar,urc of strength. " Your company viii 10 tlc
next >" said officer OF one company TO- the pfcsuyht
M another Yesterday "Iet thcin come was me rtIi
1--WE can stand an cNtmiuuuun ana nope we M HaN0 u
There are serious dDubs to the truth Ot the last asser
ttnu vllr thr week ten days VIII set at rest
fnr A A. GENERALLY understood that Deputy McNMl Is 10
nNCstiric All tue cnlhphi'H IoluN buo'At - ~
before certificates for the next year VIII be Issued 10
me delay In adopting the course which the depart
meut seems ut last 20 nave taken anu tnt u.shstrou5
rsuts already shown In the of tie Contnohhi anu
the Scrurcalcd out severe cUumOnt ny uu Insurance.
men whom TRIBUNE reporter talked WIN yeserlay'
The only palation suggested was thc consideration
f tbe uncertain tenure OF Mr.. Smyhs position rs act
ING SIperntendCut The opinion was freely expressed
that any hope Of company lCcuperauOn under the
same management which lad brought lt into Elr-
company which WAS weaker now THAN ono year
AGO would be weaker sull ono year hthce
M IA freely asserted that there several companies IN
nearly or dut, as bad condition those when nave
been EXPOSED aud that reasonable care on the part OF
MIR Smyth and his suDOTdluates woud nave epADleu
them tO know t IN time 70 save the pOicy-hOders from
heavy loss which Is now inevitable. Inc names or heso
msolyent companies arc passed ABOUT lho stiCet III
,rLIsrrrs I'm nh appear sound from their published
suirmens which have been sworn to by the officers ana
approved by the department. ana arc tho only evidences
0i condition the public. IL would DC UNJUST 10
uubs their names before the superintendent WindfaWS
ms stamp. under which they now pass current