New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-03-30
INSURANCE INVESTIGATION.
nun 1rcrSLATIyE COMMITTEE.

March
,.syp,ed its scssion this morning Mr. Charlton 7.
i. secretary OF the Chamber of Life Insurance APP
=, a witness ard testified that he had been score
- ,roa.,irer Of that institution for about three
80 he hid heard OF a transaction by which change
- hoe, made IN the management OF the Charter Oak
,a.-,pce Company, Mr. WalkIey having resigned ana
-. ,,i,ort r wicgn being made President had heard
ns,oer ton being paid the old President for his
,,rt he had seen papers relating to the transac-
- ,,orc Was son ethng paid witness IN the matter;
- .-,,,atons began in aug uSt, 1873; the change IN
-, management was made m the succeeding winter;
,,s Ind received FOR services IN e'Trying out the
s,ct,cu the sum Of $1,000, Of Which $1,000 was re-
-, from Nr Samuel Il. white Nce-Prcsident or the
&C. Oak: the balance received from NJ Jacob
- 11ortop with whom contract hal been made by Mr.
-, tor the purchase o. some stock, which waa not
80 opa other services: II Sir Wiggin could enter
- a life insurance company NF Horton was 10
- $4,000; the $3.50 paid witness by
AZ Horton was for advice and AID III inc
,t4ar. he had gwen NJ Virgin service
- ,.neral counsel throughout the transactoh' the
a. 600 was paid by Mt white for service" as counsel FOR
- INV only contract With MT Horton, but 1t was
,t[~,6 b. him that should represent the Interests
No White: there are some things which occurred
scb vrcr, confidential as between counsel and cient'
nd ! cannot eu item. hui II was geneIaiiy admitted
,,tI had saved the company from men VINO wanted 20
-, the interest which ME. W8k!ey had in the Con
-, van, Railroad had become adverse 10 those If
=, C,s.r o. H. and on that account lie resigned the
,-et with Nj Wggin 10 arrange for hIn to enter the
No, insurance business made about four months be-
g, ,te change was made; NY connection Win II heSaa
,,,t tic same rmc; for services during
a.. tine received the S12,5OO; was
., ,he same time acting RS secretary oi
-, ct,o,ter and receiving my salary, reservation be-
-, ,sar might IL tie same time transact law
,,,.ss IL, insurance eases; have received pay IN
5,.r insurance cases during ny secretaTyshlp; the
Bt OF busiacsS dUriuc the last 5ls years done by me
80. NV WIS about s. 500: tho largest item was for
~ crvicce iu wa, which led - the reorganization OF
go Casmer; tie Iowa Legislature had levied hnesupon
r for certain alleged infractiors Of tie law, such
,,, 70 IL their reports within 80 days. the a-Sre-
at, r-rclee .,f united o. 81 5c00cC; saw the state
i,,s end countries Of the Lccis9ture and showed
The outrageous Of certain suite growing out OF the
leestou and tiat the companies agreed to pay Inc
:. 500. visited Iowa twice and was occupied about
-erio,tl,: n. expenses paid; paid q counsel
Zee to lawyers IN iowa FOR investigating IN
Ia e,fler 5000 OF $500; oae OF TIE Law
SIN appelTcd before tie CON mittee; 90 not KNOW
nat ticy used any personal iLnuen IT, II s. -,
curing the legislation nericd kio| there Yves 40
eo-s,erafou pad fOr is passage TIE bl was -ti.tt-
CIV favored Ey Tie newspapers dnc Tue CjiGi.S o..
b>,l other small Sums not exceeding 500 'or P'lnl-
i am, Divert se1nsts; wrote the correspondC NY
srlf relative to the matter ana mad II plEtG; L4u
large number Of personS ..e 80
81 fIe roruranrs affected 10y he law; hey received no
compensation received no ON com .. "a 20. o5
services IN the Charter Oak nitt,r MI doI'" 49,
$4,000 Tor MS services from Bill NiSgln; UT. WINE
wrote 10 after the transaction was over ana SSu
Sacn rpiuuucr-tiug ne. and Ec sent ne cheek Tor
S5GG3. fhc change in the management WIS brought
sbsui BIS Mr. Wa.klcy rcaeninS nc presidency snl
.uO.hqr pciner ms dTecOTSip, ana M iicuil D. III
Der and another gentleman being elected directors.
TIE UNIVERSAL.
In regard Universal rensurng part OF the rsKs
Of the Charter Oak, SIR Further gave ne his word OF
honor that no steps should re taken in that direction
Nj Fsrncr is ViccPrcsideHt OF the Universal; Ayeseen
rst variety Of attacks upon the Universal no pledge
W.. ey9ccd from NJ Furler. 70 simply his proIo-
ston lir Wle had refused 20 negotiate Tor me cH'.Ee
al management rs made because Of Mr FhiDtr au.u
b. me- CqiversIi NJ White had an Impression tlai Llt
Universal was wTccEInc COMPANY Dd tiat W. ~.
IT, general belief: witness bad heard reports gu. 81
Of xldcl the statements might nave Crown
ina, lie Universal hid taken imported RISKS az
lover rates bui had not hcaru sucI q 49,. 49,
np1i himself; Air. Furber came into the negotiation
FOR change II management OF the CHaIltl C t
t,restrd IN the Eastern Railroad to help forward Mr.
Wre,u 2nd The latter theTeupon ooAed aroHn i'r rlf
else, and Ar furber vas suggested 70 '-i.
know The names Of any OF ihcse cIiAsaS M NJ
cch-r 1879 ana Nj Furber became financial AGENT 40
sam, INN. he rrai.cl his position a. vice-preacnt
=, NJ know, Nv FurbcSs salary; william Walker Is
uresiient Of Universal; there was no otLcF h P''
~ cIoot tbc Universal dd take dangerous risks at
advanced rates during the first sA months OF i@elf AEV
cnce but they stopped taj and have never 0Gu u >,c
satisfied that the Charges against The CH'ei'''
orc unjust.
TIE CHAMBER OF LIFE INSURANCE.
Tie following are members OF the Chamber OF Life In
ll,
Connecticut General C0utincnta! Of Hartford, Travellers
Mutual Life Nev-York Life. Equitable, GerI9aa, Uni
yor,al Knclcrbocker Brooklyn. Globe Mutual, Metro
politan. Michigan Mutual Pennsylvania Mutual, Ma
ionsl. United states North" cslern ''i ~ S,,
ke ana the Lie Ass0clatlon Oi America 'he Cna''r
vs. organized in 1873 10y ~ u-io o. ~ vi. II
IN Nove1nbcr. 1873 had previously leen e'iiIof Oh Ie
Ae,g- lork Ece5"G Post; TaH also IEJ 81 hai
lie Cmmb,r: bad rad experience IN .iie in.hiIihte ~
counsel for varous compute me GlT-i,5 ~.
stcpben Euglsh and the Mutual occurred daring $50;
ne wa Il IN ,f;, In- tj.t Cjanlrr was formed he
fore mat. n w;g reformed. however N NJEehoGF TO-
HAD 10 connection with ans tIdSa1euOIH b,t".rIii
Epglsh and the Mutual except th"t Md' t'.S,cu
sogrVbaf b. the Mutual gpoR The subject tieLt We
common interests bctvegu tie LGuao'e ans. we 'l'
tual; eonsut ted 10 regard 70 - con- lic" r.
tween the two companies by the OhlctFa " oVtl5 "
neg,fiatoDs between tie companies fOf harmony
Ire or,,,t,d hrfn,, ;he Chamber reorgaui2cd;
during tn negotiations it occurred 60 Tie ohcers % "a
nous coyIaHies that haslE fuf common dcl NC Az
lii a1d fie re0r anzai.on OF the Chamber insured;
ffe lar,esi e1nfrhu;ion ever made 10 the Chamber
was at the rate OF UneunGltdil OF oht ptl Ct', W
the a.sets: The Etna contributed about S2lC0; me
Hrrk'Iir@ 100: fae Bro0Eyu S2OO-never more than
tkst at any enc TIM. though there were two cc[lm-
uo1s t5E In 1873: The Charter Oak. $1,000 and the
Cnnectiei,t Mu,ai "A 100, Connecticut General 500;
CeBtHtutal vi Hartford tEi4lk 49, ~ r. 1890
sf60 Ngearliasefts Mutual, $500; Metropolitan rot
more than 500: Michigan Mutual, %lOV NutII l1e,
$500 Nr i Curly must have been mt ,aEth II III, ~!
he ,o,tI,u last wear was S12.0O0); National $500;
NcE-Y0rl Ilc, -, 900 North-N estefh MsSu 9I,'Voi
Puusvlyouig Mutual. $500; Travellers, S2uo Chteu
States o. Ne,g York geo; Universal $500 ana Ike As
sOclati0n Of America, 500 - .....,,.o .o,,,
The managing body Of the Chamber IL IN executive com
nittee direction Of the cAani'cI II Il colL
Of seven members, and changes are made every year
Tie present members are j. ". AlcXandrf j. u f'tttt
tOn " II Greene. Hugo Wesendons, Robert A. It an
Mss and T. : Winston. The executive CAcels are .ar'
HGey President Of the Chamber ana E9Iert ~, NC
Curly Of The Mutual Life. The universal has oetn
member since 1874 / do not knew o. any prC)ect iOf
rcinsurug lie risks Of other c9mpan9s oGr ar I
told me thai lie bad declined. Ihe ahILI
meetings only are held by the cA;ilntef'
but special meetings held at Odd uhieS;
at the request OF any two members no ore Is :oIsu
except members CT their representatives. reports Va o
meetings are gwen 20 repOrterS for publication teF c