The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-04
LIFE INSURANCE NOTES.

Vice President Walker, Of the National Capital, said
yesterday that Benjamin Noyes had certainly turned
over TO the New Jersey authorities all the
ceived by him from the New Jersey Mutual In &C.
counting for the million or so Of dollars that was
supposed TO have gone his possession Mr. Walker
said there 100000 al Albany 500 600 at Tren-
ton, some s30oooo in premium notes. and q
ike amount in deferred premiums He said that
no property a. all OF the New Jersey Mutual bad
been properly assigned Noyes. but the instruments
for that purpose had been eft unsigned by ME- Stcd-
well in the once Of Messrs. Boardman Boardman
Mr. Walker claimed tho parties deserving Of
blame Ia the whole premises j. h. Stedwcli Pres
ident and Daniel j. Noyes, attorney OF the New Jer.
sey Mutual He expressed surprise that no steps were
being taken TO bring these persons 70 account
An effort has lately been made % release Daniel !.
from the charge OF conspirnR 70 defraud the policy
holders The warrant for bis arrest was made out
than two months ago bus has never been served
for reasons best known 10 Mr.. Noyes The principal
foundation tor the charge IS the obtaining
Of : large amount Of bogus mortgages on prop
erty worth perhaps one-fourth OF their aggre-
cato face value. A revelation OF these transactions
first appeared in the HERALD IN December last Noyes
bore prominent part oil the important business
matters OF the company and recent Investigations
have developed much Of his handiwork. His informa-
ton is very complete, and II has been suggested that
he could render valuable assistance in unravelhng
some OF the problems that array themselves before
Receiver Parker The latter gentleman couia nos,
though II rs SAID that steps have been taken with the
proper authorities TO bring about such an arrangements
II possible.
4 report has been in circulation that Receiver Pier
had found very rotten CONDITION OF affairs In the
North America The representative OF the receiver
stated yesterday that such was not the case and though
they had found many complications they were no; OF
an dnexplanatory nature.
Mr.. Henry j. Furber President Of the North America
Life Insurance Company, summoned 10 appear this
morning the Insurance Committee Of the Legs
lature at Albany
CONTINENTAL LfPE TROUBLES.
The receiver Of the Continental Lilo Insurance Com
pany, W. r. Grace aled statement yesterday, in the
Office OF the Kings County Clerk He has received IN
money $3.50, 526 IL The money on hand Is almost
wholly on deposit with the New York Life and Trust
Company pursuant to the order ofthe supreme Court
Mr. Grace also hled his affidavit in his suit against
Rufus c. Frost officer Of the
company named, setting forth that Frost had con.
tracied with the company take certain lite annutes;
that these subsequently, received from
company 49, 900 3d. that the contract was iraudu
lent 10 its inception, and is Illegal and void and the
payment OF moneys thereon was fraud, and that there
is good ground .! action tor the recovery Of the
money and that Frost though resident Of this State,
has absconded, intending TO defraud his creditors
Justice Gilbert of the Supreme Court, granted an
order Of publication in the latter case yesterday.