The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-04-03
Another Mares Nest.

10 TIE EdltOr OF he PreSS
1 am not disposed t, trespass upon your col
umns too largely, but it becomes necessary at
this time in order to guard against msrepre-
sci tations on the subject of life insurance, now
that the public mind is so sensitive and when
so much is being said and done by indiscreet
aud prejudiced persons to create "panic" and
injure these companies and their officers,
much of it without any foundation in truth.
The writer of the communication under the
signature of ''S. in your columns.of Saturday
last has evidently not posted himself fully, and
supposing he had found "mare's nest in the
testimony referred to, has been led into an
egregious blunder by consulting bad authority
inasmuch as the testimony of Vice President
McCurdy was very different from that repre-
sented The absurdity of any such statement
will appear when it is stated that this company
until within very few years did not insure
more than $40, 600 on any one life.
The facts as testified to by Mr.. McCurdy are
substantially these Young Mr. Winston, son
| of the President, held polices amounting to
only S11 800 (only $13S 500 less than represent.
| ed) which by some means had been suffered to
| lapse, but upon examination of the facts in the
| case, were restored BY the trustees, and the
| amount paid to his heirs-this occurred more
than ten years ago, and was done by the decis-
| ion of the trustees, without any action or col
| lusion on the part of the President, thus show
| ing the maguanimity of the Trustees In the
case. in which they have been fully justified as
| will appear by the following extracts from
report of committee, consisting Of Hon. AL
exander H. Rice of Bosom, now Governor of
| Massachusetts,, and eight others of the Trus-
| tees and Policy holders. This committee was
| appointed at the time in consequence of
| ''clamor' gotten up by certain ''croakers''
for the purpose of injuring Mr.. Winston and
| the Company.
The committee said ''That the charges made
by these assailants have been repeated in the
same form from time to time for the past six
years, and were diligently inquired Into by the
| Board OF Trustees prior to the year 1870; and
that they found in them nothingito impair their
| confidence in their officers; that, early in the
year 1870, these charges were investigated by
the Insurance Department, with the Jealous
| aid of the chief accuser himself, IN session OF
six weeks, during which the books, records and
| officers and clerks OF the Company were fully
| examined as to each of said charges; that all
| the evidence obtained was reported IN full by
| tbe SUPERINTENDENT with his conclusions and in
| fereuces completely exoneratng the Company
| and its officers from every charge OF bad faith
| or maladmnistration, aud reaffirmiDg the full
lest confidence in the integrity and capacity of
| its management.
| That the same charges have been repeatedly
| brought by the same accUsers before the policy
holders of the company in various cities; and
have been satisfactorily explained at once In
| every such instance.
| That the persistence OF the assailants of the
| company in repeating their attacks, and en-
deavoring to prejudice the public mind agains
it by the repetition of them, after so many and
complete refutstions, evinces state OF mnd so
hostile, not to say malicious, toward the com,
| pany aud its officers as to deprive them with all
impartial minds, of any just claim to considera-
tion.
All of which is respectfully submitted"
Dated April 16, 1873, and signed BY every
l msmber of the board. w. ID. u.