The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-05-09
LIFE INSURANCE TROUBLES.

THE NEWARK GRAND JURY ASK If GROSS NEG
LIFE LITIGATION.
II Is now manifest, all 70 tho contrary not
withstandng. that tho Newark Grand Jury Is deter
mined W pursue It's Investigation OF the Now Jersey
MuiGa. Insurance Company matters, and .'without
fear, favor tho hope OF future reward" do their
duty by all who found to have violated their trusts
In tho premises They into court yesterday and
created sensation by asking II Indictment Tor
gross negligence could DO found against tho latc d.
rec,ors and managers OF the New Jersey MutoaL
Judge Depue charged tho jury us follows:-
GESrLxnRS or rnx GRAND JuRY-Your communica-
ton g the Court can only Be answered in genera,
ths Crimes act provides specially tor the punish
pendcn.y Of these sections by the every
with inowsdss Or the criminal purpose. Of is PROF.
,Sso5 equally guilty with 'hs,s who are the
lion may DO made 80 appear by creumstantia
corporation who ntrustsd with the have
Quite. 70 perform In The cars and o. l.. bust
duties DO Of such character and under such circum
With Fraudulent .ene@e devised and EXECUTED %%e
d..ey In such cage the naic.men. should be
OF the SECTIONS OF tho act referred TO- Tor
Of in of as support Of that
charge In form the indictments cannot be for the neg
sanieicnt 70 warrant M Indictment II should be- for some
one oi the substantive OFFENCES above mentioned
Tho Judge then read tho sections Of the law
bearing ON tho matter.
The trial OF benjamin Noycs Is set down for
IL Is Understood the County Prosecutor viii
be assisted In Inc prosecution by exAttorney General
Vanatta
PELLET LITIGATION
Tho suit OF John Iton and others against the United
States Lie Insurance Company, IN which Washington
Irving Butlor Is counsel Tor the plaintiffs has pro-
parties thereto The been To the courts for
considerable PERIOD and lis essential points are already
familiar to the public. The plaintiffs ask for
accounting oil the assets OF the company, ana
an Injunction OF the officers from parting with
the same, and from reinsurance or amalgama-
tlon OF mo policy risks The plaintiffs claim that
DeWtt, defendants, have wrongiuly Induced tho
paintls and other policy holders to surrender their
policies Tor ones OF less value, and thus msappropri
ated to their individual a large sum Of money.
The defendants tho other hand claim the suit TO be
vexatious. and aeny all tho assertions Of Tho CON-
plant
The fight has been waging icrcely Of court Also
and numerous have Ueen the nnucDdocs and aspersons
cast from one sido upon tho other. Yesterday tho
superintendent OF the United States Life urnsned q
HERALD representative with printed circular. which
he SAID had been prepared by Mr. Butler and was IN
tended Tor circulation the poiicy holders Tho
document winch Is called confidential circular, con-
tans copy OF tho complaint OF rilton vs. Tho United
Statos Llie Insurance Company with the opinion OF
Judge Day on demurrer IN the case anu several
other artcus tending TO show the antagonlsm OF tho
stockholders 10 the policy holders
he superintendent furnished upon the other hand,
copy OF Their answer to tho complaint, III which 1t Ii
shown that the plaintiffs were allowed upon thor old
policies more than they were entitled TO- The answer
makes reply u each OF the allegations contained In tho
complaint and shows that since the alleged
priation OF money false entries, &c the company has
passed critical examination by tho Insurance Depart
ment.
Tho United States Life has printed large number OF
these circulars, winch they are sending 10 their policy
holders all tho country, order TO iorestai the
PLAINTIFF They claim that Mr. Titon never made any
complaint At their Office. anu inler that the sut was
brought because OF the companys refusal to retain W.
J. Butler AS their attorney.