, 1877-08-24
TIE REPUBLIC.

NIL PILED n1 snurRLDT wEsTo7ER:
The matter Of the acceptance or rejection BY the
Court Of the bids for the stock OF the National
Life will come up befors Judge Wilstanis Fhts
morning for further confederation. At tho hear
tng on Tuesday last, Mt. TessoTer gsEe notice
TINT he would die petition aea|nst the sale. This
document he prepared yesterday afternoon. Tho
following arc ita salient points:
The petition. rectcs that Mary $. Ta!maEc u Inc
holder Of full.pald policy in tho Republic Life
for 5000, payable in Apsil, 1850, Of prior thereto
iu case Of her death. The Repahlic VA" char
tered In 1909, and commenced business IN 1stu;
that on Dec, a. 1873, tts assets were s.. 28, 600,
sut} the liabilities sa eo. s07, showing an impair.
mcnt Of cspftal to :he amonnt Of E1a!. sq.: ~
Impaired eon.l,tion. E rurens.eithe Of The
ST. o15 s,oS. ooo md ~ i p.d therefor Tbs
petitioner believes that Immediately after the pnr-
r. sn SSe
% eoala u,e belonging 10 tho iepubiic q rtPaT the
70 eject tbs pnfehase. The oiaeers Of the Repub.
lie then fep,&ccd The assets taken from the Ma
liona, With those belonging to ths former:
] conceisci d. and entered upon and s'that said elan
or shsms w.s
panr, ofl thc most valuable a'tes Of tho Ncpublie
Lie Insurance Company thoald. By The msans al
al; that tho said officers and scbe6rrs should keep
control Of she Republic; That the tame persons
fhould be elected Al unccrs Of the two onpanics.
e n.ure assinst nny danse. to the sfAeIs; n;
iss' ispaoi's iS' 'sssaaaS .5eaa isa
~ os4ible 10 deprecate The talue OF it, stock and
10 Induce IL policy holders to surrender thetr pol
lcics that ali desirable Risks in the lepnbc should
be transferred to the Sationa1; that the Republic
ehoul be involved In debt to enc OF the Satlnnats
o!fceea. and stock Of The National. su3icient to
control tha COMPANY. should be placed a. colate,.!
Iife. insurance Company thonld be wound up and
tic stock uf the National BE- forced upon the mar
Ect 80 that It could Se pnrcea.ea u snme enc. 'os
small sum ltRt the said officers could agaln pay
Tor ffou, the assets Of tho National, without I'M
pa,rment Of ~ cap,s1."
etatcmcnt rhowin1 that Its capital was entirely
wiped ont with the exception Of some s1u, uo0;
that It was utterly tnoyrnt and shoaid have been
wound up. AZ that time It wa not iEuspssd tot
|, pledged Tic o!teers. Instead Of wlndu7 up the
concern, continued In fnfthefancc Of the!r sehenc,
to Involve the Company to the prejudice OF Ing
thing. arranged h+&rd for tts dissolution and The
! appointment vi a Receiver.
IAp petitioner believing that the sale Of the Ma.
tionaI sor lhc sum bid by N-. q. g. Clarke. about
de1.ars 10 the creditor. Ut the cpub!c. pfaSs for
5crt!nd!ns Of the ugdcs Of taae. or tA SUSPENSION
until further order: that she BE- allowed On behalf 9
III Tho creditors tn become uaFtJ 10 tho proceed
| inss; that the National Ltfo be made party do
fendant. and brought In to answer the matter stAt
cd; thai upon service Of proper pEoecss a., nFder b
Chanccry for investigation. and II on examination
petitioners statements bs true. Tint the Sationa
be wound MP ant lta surplus aAsets turned oyer t.
this creditors Of she epahI,c' sna lhat tala Nssts
The debt Of ihe Republic TO 8. N. ftckesaon aa
| report tho eulne to the CONT.