New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-03-19
INSURlNCE TOPICS.
NORTH AMERICA AND GUARDIAN MUTUAL
THE HEARING BEFORE JUDGE DYKMAN-No COHCLC-
SION REACHED.

THE HEARING BEFORE JUDGE DYKMAN-No CoNCLC-
SION REACHED.
The case of the North America and Guar
dian Mutual Life Insurance Companies came up AGAIN VA
SATURDAY before Judge Dyl.man, at White PiahF' 'ohn
l. Hill. A. A. RcdGeld and John J. Townsend appearing
for the plaintiffs aud Aslbe Green, Robert seWei ana
A T Vapdcrpoel for the defendants. William Barnes
appcarc for the policy holders on the side OF the plant
IFS and r. W. Van Pelt in place of the Attorney "ene"
Mr. Hill stated that there were five motions penang III
the case. before the court lie again eNpialhcu tue ms
understanding by which the Tremaine suit had been ais
continued the details OF which nave already appeareu W
TIE TRIBUNE The manner in which the recover u ,no
companies appointed at schenectady Marchs was aiso
reviewed again by Mr.. Hill. The Universal, he sai' hu
conceived design of approprathg the asAes Vi '"'
Guardian Mutual aud the North American IouiP"hie'
under what was known schemes for reinsurance IN
tbe reinsurance the Guardian the amo nt OF the re
serve necessary reduced sufficiently by tue iashS
of poIcss 70 make the company, in fact e0vcht again
il IL could claim the amount Que from Sucn
lapscs But this reduction was not permitted
10 accrue 10 the benefit of the Guardian or IT. Pocy
holders such transaction was therefore null and
void and he should 10 set it aside altogether III
reviewing the proceedings at Schenectady al the une
when Receiver PersOn was appointed Mr. Hill said that
the plaintiffs had agreed with the defendants upon the
advisabity of the AttOrney-Gcneial obtaining re-
ceiver for the companies hut the former ala not desire
nor did they expect that the companies shoud theh W.
dissolved They had asked Tor receiver III Ofuer t 'o
companies might he saved and not dissolved Aher
what had taken place, however, he would move 10 make
the receiver party his SUITS with leave to file sup
Elementary bill against him. lie would not ask lor an
order TO show cause why the referee. Judge Leonard
sboud not ne relieved from injunction AMI allowed 10
roccpd with his siigatiOu lie should also ask tnut
order of dscOntnuauce Ill the acton oi lIthhi,t
and others az. inst the Guardian Mutual should Only
sta i'm far as il related 10 lTCinalIc hlrlstH
Nj. sewe said that no paper ~ me astnTiT ,he
matter had been served upon the deltbdlhtS anu c
would decline. of course, TO answer IT, Mr. hil ocitu
to serve the papers al once wv 9;a. 'c"o
accept them without eight days notice -, 49,,
Referring the appointment Of Il receiver ME- Hfren
stated for the defense the whole matter was known
10 Mr. Redcld March T. the day preceding iie a't'G
Ar Srhencrfadv He read an affidavit by Mr.. Rcdheld III
order 10 show that the IialniiHs Colise Weie
with the socalld scheme To dissolve the companies
before the dissOlutiuns happened Inc alhlayl con,
tluc however, the following: - ia cOhNeiFatio.i
ut the Office If Alexander Green III EcN lOIh NNy,'l
which Mr. Herring. Mr.. Alexander, ana MI Green were
present in which informed me mat the super
t,,cnGent Of Insurance had made an examination
Of The North Al. RIGA and Guardian mutual ihic
Insurance companies; that his report hau gone
mat The Atiorncy -Gcneral had been III hew-1oik
CiIy; mat M would probably Apply ior q ~
cciver a day OF two; that he might trttCf
10 gupy either the Third or Fourth District anu thH'
Mr. Green was going 10 Albany that evening to meet the
AttoIuoy General for the purpose OF lHsIcllhs SOM
such application, that the subject might ne Drought
slr Green that the Acknowledgement had consented to
take any ..cou that lie would certainly maze M
application in any particular district, II benz my uuI5l
standing i- ard previous cow eIratils NllL 9lI
f;re,u that whic We preferred the application to be
made IN c Second District We were mdlnteut as 70 tt
pace, provided mad reasonable notice or he appca
lion. ~ make this AFFIDAVIT at Mf. Green's re-
quest, rcserying IN" rant 10 make any lhtl VI "lHc'
dnidaVts deem necessary
and tne ease was postponed for one week