The New York herald., 1877-01-17
THE INSURANCE DEPARTMENT.

EFFORTS TO CRUSH THE SUPERINTENDENT OF
INsunANcE--CoNTINENTAL pIRATEs-AN Ex-
THAonDlNARY PROPOSAL.
ALBANY, Jan. 10. 1877.
An appeal to the Court oi Appeals been taken
from tho recent oricr Of Supreme Court General
Term, by tho counsel for Sir. John J.. Anderson,
cciver OF the Continental Life Insurance Company,
and his concderatcs. or course the motive OF this
appeal TO gain time. Tho Court Of Appeals meets
today, but Mr. Anderson and his friends arc in
hurry their appeal heard The plaintiffs side,
represented by tho Attorney General don't intend to
res. on their oars. Sir. Henry Smith has prepared the
papers the attorneys Of the receiver noti-
lying them the argument before the Court Ap
pcals on their appeal will bc made ON Tuesday
OF next week, January %. This Will bring up
the dccsion OF the question much
than tho Continental and IT'S friends desire.
But why should they appeal? Uncss there has been
fraud past, and fraud present and intended, they
should court investigator The course they are now
pursuing indispuably Indicates that ugly mass of
facts and figures sought to bo concealed. The
policy OF tho conspirators OF the robbed and bank
rupted Continental Lilo Insurance Company is delay,
thu, they may fight of investigation and make away
with the remainder OF the to the best advantage
TnE INSURANCE DEPARTMENT.
great injustice has been done to Mr.. Smyth, Super
until 1t TOO late have this rotten concern put
into the hands OF receiver and wound up Mr..
Smyth has Uccn the head 0l the department only
ten months. HIS predecessor, Mr.. Chapman, left HIM
as legacy all the hard work OF bringing out the IN
surancc report Tor 1876. As t,inc permitted
he made ali the available inquiries INTO the standing OF
every Insurance company IN tho State. The returns
OF these panes sent TO tho Insurance Depart
mcnt sworn TO by tho President and Vice President
of company, aud as men holding such positions
supposed to be honorable and trustworthy, tho
mas other choice than 10 accept tho
agurcs him true and hOuest statement Vi al.
lars. Last October he mad some reason TO believe
hat the cJLdion OF tho Continental Life needed look
ing into bui lust as about taking steps for
nvcstgat,on and probably getting wind OF his ntcn-
lions, "a sOckh0lder John q. hOyt, alleged 10 be IN
collusion with the company hurried over Brooklyn
| and procured IRON tho accommodating Judge Pratt
orucr appointing receiver, snd week subsequent
an order from igc Gilbert dissolvug The company.
the proceedings both cases being perfectly private
The superintendent was thus forcsialcd nnd ballcd,
but not discouraged He went to work through The Al
torncy General and finally the other day succeeded IN
procuring order fom tho General Term OF the Su.
prcmc Court to 30 on with the rcorcncc.
Az sad before the bandits have appealed against
this to tho Court oi Appeals and hired TOUR lawyers
whose will oil the policy holders' money
70 secure them IN her plnnder; rhs,r lawyers are
merry Supcrin tedcnt OF Insurance. who KNOWS thing
or twoand Ian Maeonc, Jr, whose political influence
will be used where his legal ability rs not avaiiaUic.
The they arc hght'ng now rs smyth, aud as
smy,h is lnvc-iratine the companies in New York at
this moment al! the weak, toitcrng ana rotten con.
| Germs Join IN the crusadc against him.
FORCES ar WORK.
Various forces are al work procure Smvth's re.
moval, because with his displacement, the action now
pending would drop for reasons that VIII presently
appear obvious Several republican Senator'S II Is
sad have born approached and offered Inducements 10
vote Tor the confirmation Of certain democratic name
that ~ Is expected Governor Robinson VIII send ~ ioi
superintendent o Insurance IN place Of SIR. Smyth.
An undo rstandng u ~ 10 be supposed, VIII De nat
with whomsocycr Is confirmed IN TINS way TO droI
further proceedings ngainst The company and drop TIC
Investigations gong on into the Rnairs OF Othci
compan threatened with being cxtingushcd MI
Smyth has every hand tho reputation OF being
tired and honest pubic servant
TnE RESPONSIBILITY or rHE SUPERINTENDENT.
Ho mas heavier respons ibity than any other State
amount OF over 0,00c 000 the greater part United
states bonds and these he Is constantly receiving
returning Tor other securities. When hc The
sworn statement ot company unless he has evidence
to the contrary he must receive " representing tho
correct condition oil affairs IN such company. Al
some poli,icians hold regard TO the duties
| OF the President OF tho Senate, he can
not 80 behind the returns OF course ht
examine the affairs OF any company III
any time II he sders its hnancial condition
but TO examine solvent company simply the sax Il
OF cxamn ming would be not only insult hui an injury
TO the company 40 treated Failing purchase siny
the only hope Tor the Insurance pirates in work
ing thc political oracle through Dan Magonc. Jr., unt
OF getting man put in Smyth's place. IL viii be very
Interesting to see how this game works and 10 see /
they can really succeed In pulling he wool over Gov
crnor Robinson's eyes. Anderson the receiver, Is
bankrupt from ST. LCuls, who IN III,
New Jersey Mutual the time II swal
lowed up the Hope Iifc Insurance Company
CURIOUS SPECULATION
There arc now IN New YORK, and have been for scv
itsOilrsies Of the Continental Lifo, ON