, 1877-08-07


10 tho Individual named bv rcasot OF his unfit
nrss. lie Is mt known to the phjcctn0 parties.
The objection Is tn my pcrstItl upon whum
the Auditor and the Conlpan. al,onld agree.
must tnkc Tor granted that thc rulsltct Of the
.tutlitnr Is in E.ns faith until the contrary np-
pear. ennn,t presume that the Auditor Or his
cMpfoYc have ttune wrong. wDuEt! much pre-
fer TIN. some one hat been selected we'll knnwn
VI q fixed rcputatton; one whom everybody
would know to be 4 ny person; but most ~ the
parties acctn to be veil satistcd with Mr. Cooke,
and have received some very high reccon1-
ncndations ii him, nt,l rs no objection is made
10 him personally as unfit, shall fccl obliged
III. Cooke : bonds wcre a1c,I BY the Court At
$.lU, ,UUU, but they were not then really.
THE PETITION OF AUDITOR NEEDLES
ret forth that be llad lately caused an cxaufna-
siou illto tho affairs ot tho Protection Afc-!r-
surance Company, and TINT the results Of sai'i
examination were tllat the said Company should
he cpjoinc,i and put in the hands Of Receiver.
And further, the petitioner sets forth that
"tronl suc1, examination he Ia OF the opfninn
that tho condition Of said Company Is such as
to render It's further continuance IN luslncss
Company has jni1ed to cunpty with tho rules,
restrictions, and conditions provided by law, and
has exceeded Its corporntc powers"
summoned IN to answer; ti,at ti,ey BE- enjotnesl
from further business; and TINT Receiver bc
appointed to take charge Of the real estate and
ELECTS.
s,p1Sioy or Arronyar.arspnAt gp.Arh
IN tic rntl,cr interesting subject Of wagering
policies:
STATE ~ Il.tsots; ATronxxr.0ExknAa's or.
Tet t; Iso1 9uy y y a55 elo"rD.aa e5
SIN: fonr letter of tho ksh n wns fnlY received.
inclotng extracts from the rcpurt Of Tho Examiner
In reference 70 the Ohio Tru,t ASSOCIATIONS con.
ncctcd with tie Protection Life. Insurance COM
PaHs q taicnEot sItnN tMs manner o. TRANSACT
inf ossaess WIN saI assos1at1ns* ~
Company has failed 10 comply with the rules, 1re-
Etrteti9ns. os conultions provided o5 1aw' or hiss
tao tfast sIs asaoeiat.ons s IN GaGsanoa set a.
asents 10 s t9sio .a;n pos'csi anu; a.
an assignment OF nIuc.tcntNs Of ttic
pnllcy from The assured, and bind themselves 10
pay the assessments on the policies a. tho same arc
made from time To time, the aehnred paying tho
association a h ~ W n a. aasaneo ahS " annually. II
exe 81 asa.n o. d9o ~ mefn es repfe
Mon III tcmsinins ali nine icns,s '"' 1'A' n'''ea
in snl.tancc ths a.,ont,ta io m Insurance. IN,
tho bencnt ct tho trust association to tho extent
Of nlnc.tcnshs of each policy.
h{ Of for shs hcnedt 81 party who ha; 90 tnsnra.
nc intsfSss IN et!s t!sa q th1 Insured y nero
Mugs9 ons! nn" Wntsi s ts.aona IN
ance tpmnnny. II Il. r.. Sin: i,uts ~ in,ii %
10. .fnu
Company, d GRAY, lid. ''S
~ tD what constitutes IN fnsnEablc into,cst, nee
l!tiSs on 'Inearhncc, IL 10 -, and authorities
there cited, Unless tnese trust nssoclat'ona do In
naSs 20 tns1a1's ~ ntefsss ~ thIs scs ,sspeSt
,tc, ss y. '.E nm ''ts @ j., IL IL tnv a ae".nt. ~
ssn.t ~ In nm.. .,cmtns ta1sn ~. ~ ,rost a. a.
itlo ass sociatIons stevens 70, Warren, lOI Masss.
6Bl,
If thc Protection Life. Insurance Company atsucs
policies Of this character md fakes assessments
upon It's other policy hnltIcrs 10 pay l9sses thcreo
" ny opinion u oo' ts!ercoy exceed its Gosporate
nn y N soa ~ la sFo hsS
IL tbc stntntcs of tnls Statc' i'ss St,t rhan
R, secs. iii ani iii. pp, 37:, J71. an, YcFy
respectfully, jas. X. EnsALL.
II ,s gratifying ti.at The rarcer of hi. Cam.
nauy IA Mt list ended: hut It Is tnoxplIcaGlc wi,y
l. si,t'1'i hnye hrc,, nituwc IL, liz" ,sr aus ink
,ju,lr !. whun Siai. Woods tnatln hIs rsi,ort 10
ti'c An1Itnr. Flint rrnort nns n,,iy toli of lin
wurrr{,.t nnfrlcs h,,t II ahnwr,i thai tic t.nr,
many was iusolycnt. Yet Tic Auditor. instcatf
II aiuttlntr II rfrht I'm r, t}c flnnnra al,nwin,r
astrfi thw Attnr,,ev. f;cnnrni,s nnininn nh,m1t
tiIcsu Irss policies. and titus DELAYED to ft,rc-
cjns,1re oi t1.o Contrary for three II,ontlls. Tla
ennbc,l tl,c Proteyttnn to srnl ot,t ftS ,,psraa.
rrnts f,,r .I,,nc for inv emi It "a rcn,r+ri fnr
August. thus takfnr from Ignorant policy<holll.
crs large su1ns which they viii ucyvr gct back
nrnu 49, ~@~A
II ~ IL n,Icrc, tho Auu,,st asacs,mcnts wcre
uc,.t mn l.st wcct In n5lirers ~ thc Tnrnanv
lid yery sttanun thing. They knew that liz
Auditor wus uoinI. to nix for = Hocciyur: theT
hai talked tlc thinE over viii, him or ls sub. I
eurlInatrs. nn,i il wns unlcrstnM between them
that ~" "nniiratt" for E"retrrr vsa. mt !" hc
resisted ,ho 1,,u warrauto ur.rcr,linrs wcrc to
have CONC 10 to-day, antt was necessary to stop
tl,em By getting tio Con,pany into u Keccivcr's
hnt,lh IN n,ut,a toicrnhlv infn,lexs cj,arre. II
misc .otncwhcru by which tho proceedings In