The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-08-06
CHARTER OAK Looked INTO.
Marshall Jewell Getting iiimscir Into ~ vc-y
Fat riace-A Di.cn,crN that sheriff scy-
mour Made ON Going Down to ttaddatn.

mour Made on Going Flown to uaddan.
HARTFORD, Aug. 4-Thc impairment Of
the assets OF the Charter Ouk LI,r Insurance
Company, ras's the ga -t.ru whether tbs
capital stock Of the cOmr'ny ia not wholly
wiped out and il il pr0ba iau the attention
OF the Legislature will h." chilled TO the matter
with u view to amend the ohart.r of the com.
pany So rs to give The policy holders control On
the mutual plan. The bO ~ lawyers here enter
tain the opinion that the stock il gone. Ger
tinly it has no value. Mr. Jewell paid almost
nothing. if he paid ANYTHING for it, If he did
pay 10000 for 1925 600 worth par value, as ha
claims. to secure fun couiroi-the stock cnira
being $500. OOO-hc paid It tor a valu"lcss con-
sdcration. because it IL worth nothing and
never will be- except by freezing out policy
holders 80 IA to temporarily reduce the liabili.
ties and give the company the appearance OF
sovcncy.
The fact that he paid only 10000 even al.
hitting the payment. il II powerful argument
against the further continuance of the stock
plan. If there are ten millions Of assets in tho
company. then Jewell has got control OF the
whole to do what he likes with it. and has paid
but one thousand dollars to get hold OF ench
million. The policy holders. who are the oncs
most directly Interested. are powerlcss; thoir
ten millions are swallow Il up by sharp stock
transaction which pays but on" per cent Of thu
assets to control them. jewel. If he pays thu
flOOOo do"e not pay IT to tn" company nor
n AXE himself llnhlr 50 Tar hS Tie STOCK n an
asset regarding policy holders, az II ~ SUPPOSED
to I've th"orcticuliy at least. though Liability in
another direction; hut ne paws tito sperulatof
in insurance for the purpos" of getting himself
into u fat place. He rsss n thing. rs he pro-
poses tu tax" a salary The first year which VIII
NOR" than make w AL he has paid.
The Legislature will not b" lIhcly 10 overlook
TIA" css initial facts in this trunsa ton: 1t cannot
escape the PLAN considerable IONS of duty which
Will nj the fnSplNtS. Jewell nlflGt III fprlI
secure. because he thinks h" has political influ-
cnce enough to su ,cy,ssfully contest any cgisla-
tive movement; hut he may wukn up in jan
uary 10 Il different conclusion. That hc IL in
tho whole thing for speculation To- rctriem
falling fortunes no one ia Hartford who knows
the man has the slightest DOUBT. aud he Will ba
sharply watched It may be the rock on which
hr Will wreck himself.
Shrr.il Seymour Of this county made n singu-
lar discovery concerning the mortsag" invest-
mrnt Of the Charter Oak. The former presi.
don't Walkl'y who was also President Of tha
Valley Railroad, gave in his latter capacity. q
not, o. a fey thousands IT, w WIN. u. HoodisHcrd
ager ~ the New York and Hartford Steamboat
Company The railroad Is under heavy see
oud mortgage. but Mr.. Goousprri has lately
found several pieces o real state adjoining tbs
road. or in ia vicinity. which are not covered
ar T me net On ' r1eeri rHe snSr II vent +" Iiam
g,day or iwo ago to ,'Ny 4rnn tour g,r,s. WHICH
for. hut they would not NOW bring $50. Upon
going to the Town Clerk $ OH go To- 500 proc. lily
how the property stood. b." found that Ill ~
GAGGED to the Charter OAK Idfe Insurance Conn
pauy {. r thirteen thousand dollars. Mr.. Good
speed says there are 9th, = mortgage Of "A Id Ia
natur" along the road. Th" committees who
hAV" examined the affairs at the Charter oak
have not examined thu mortgage loans in dc-
tail. and possibly il may yet transpirc that
among tn. assets called good are many like
III swlndl.ng arrang 'nrnt IN lind'lam.
tn" special commission ot the Legislature
which first dis 'loscd the condition ot affairs in
the Charter OAK and have power t. send for
persons ana pnprrs have one more duty Ia per-
form They must have all the fncts t. report to
the Legislature in January. What TIA" public
want to know Is III" details Of the arrangement
10y which j well has stepped into the Prcsi-
den v. LIT the committee put him under oath.
and also Henry j. Furb r. Of NDw York. Judge
Van II. II iggins oi Chicago. Col. Geo. II. BissclI
of this city. and some others who's" names they
can readily oifnu; and then lee sure that all tho
Diapers are produced.