The New York herald., 1876-12-03
LIFE INSURANCE.
THE MYsTkRIoUs CONDITION OF THE coNTI-
MENTAL coMPANY-FAcrs THAT ARE PRONE
no rxc1rp Ixn1upY Axn SUSPICION

THE MYsTkRIoUs CONDITION OF THE coNIi-
MENTAL coMPANY-FAcrs THAT ARE PRONE
TO EXCITE INQUIRY AND SUSPICION.
Since the great failure OF the Continental LILO In
surauco Company but littlo Information has been
gwen out TO cnlghten the minds Of ts creditors Tho
developments have been Insignificant and a mystery
has clung about the affairs OF the nsovent concern
which but little effort has been made 10 penetrate.
Tho article In yesterdays HERALD. conveying some
idea OF the affairs taking was the first
noticeable attempt at a discnanglcmcni. The effort
was commented upon fayoruby by those who
desire to tho best interests OF good life IN
surauee subserved. Such n course has been
pursued with the Continental, in its unstable cond
on, rs calculated 10 excite Increased suspicion the
part OF tho policy holders where allayment by all
rigbtiu means should be sought Apart from the fact
that report whatever has been had OF the CON-
panys affairs, even the reccivcrshp itself is IN ques
tion, aud motion Tor new appointment under con-
sideration. Meanwhile, and under such circum-
stances the policy holders asked ansicr their
insurance another company, cedng all claims under
their Continent tai contract and accepting term policy
IN The new institution. Tho policy holder is entirely
ignorant OF The value OF his old policy, and IL he
ccpts transfer, must do upon the information and
advice OF the agents whom he applies IL is therefore
blind business for tho assured, whio the companies
can safely the value OF their bargain without
hazard or dis,rus,. Even when an nsolvent company
is by process or law absorbed by another ncorpora-
ion, the owners OF policies fare but III from tho
change but when the effects brought about
by private understanding between the nsoiyent
pan, and the responsible concern holders OF contracts
are certainly in poor predicament. II, as has been
asserted, such an understanding exists between tho
dciunct Continental the New Jersey Mutual Lie
then effort should he spared 10 expose the WRONG
save the Continental policy holders from further
III usage. They are at present without insurance.
aud before they embark under another protoc-
tive flag they have right 10 some enlight-
eminent upon tho value Of that which they
arc calad upon to resign II tho management
ol tho Continental has been mslndsed u IS because
their actions would admit Ot oipcr construction.
Tat they went INTO ivcncy al their own bchcs is
aticstcd by many circumstances, not tno least OF
whiah is that the very attorneys. Mcssrs Scwcll and
Pierce, who FIRST brought the action for dissolution,
have now hccn rcaintd 10 protect and dciend the
interests or the bankrupt concern
THk RKrIcRAcE TIM RECEIVER
Is another circumstance 10 excite dissatisfaction.
While II puzzles AMI demoralizes the policy holders
IN equal proportion adds 10 the profits and assists
tho purposes Of Tho New Jersey Mutual Lie. That
company hns already showed conspicuous propcn-
sy for swallowing insolvent concerns The history OF
The Crnfismen's Lifc Insurance Company viii
bc remembered, winch was absorbed uion it's
failure by tho Hope Company aud the last
named, with its dscstcd predecessor, was dcvourcd
hy the New Jersey Mutual Lie Mr. Anderson, tho
rccaivcr OF the Continental claims that under the
srnctons OF the court which appointed hum hc is not
at liberty TO glvc u statement until 1t is made up py
II long and tedious process. Yet u seems somewhat
singular that under such pressing circumstances and AZ
ter tho lapse OF i've weeks no intimation or any hint
whatever can be had as 10 the company's true con-
dition. Mr.. Anderson stated yesterday IN an
Interview with the writer that no had not the power,
even II had the dcsirc to assist tho transfer OF ns
the New Jersey Mutual Lille. Yet II he cannot
assist is it within his power prevent nt least
tho blind exchange OF rights, by opening IN ttie
the eyes OF policy hoders9 While the Court
may not authorize full statcmcnt, the question oc
ours to many, Does IT mean 10 prevent him from
aiTording to the company's creditors such partial
Knowledge OF It's affairs their requirements demand