, 1877-07-15

"iat t''ce nau pau - etipf ~ ~ ~ Scue ~
sl,0Oo,oo. Tie ba'ance-shcct Dec. 81, ls75,-
tnc year Or LIE panie,-naue tnc 1o4!o"lng *
| h1olt' .-..
Capital, paid In, 041, o0o
Assets .............-.....s. ....... ~. ~. ~ als
1laoliltles ~ ~ ~
ipalleht VI eapl'al Heterogeneous 19 1n1 ao3 a1
- III 19u M
r. ,1'a ;..a.,.,s .a..o,,.t ...,n..s ~, ;.sr,
~ 11S H4eohie aetount aPl'sn4s M i.el!1
s1so,so. %: lh'S Hnuouuteuiy reless u tuc
amount pa.d " lug Eeohoh1cal LOT IslusuIlnE 4ts
rlsks S'' the pfese1I value ttelcoi on
pef Zen Sent oo oasls oe19g tS..sl9Ta oeao !oss u
over eooo'ouV u tui Sohl pan1. lne as.tssl.c
income account eAots Us sotpareu VIII tne
sxpenultures Snfpius & q % sh;. Sct & tno ia'
parmcnt o1 caplial Is o5o4,4o3, WHICH SHOWS
ioss ol overs Wo;gog on on LIE operations OF Inc
Coitipan} =" Oee' oI' 4o.9' ,.,.,-,.,
ana row w come 70 the culnilnatlng point IN
paEy. 4ls Hlallasels , ~ "cic t.oI sat!sueu WIZ
hasins su1'h over ssn'u'oov ~ tnei1 atLe'ipss ~
oalu up co1np4ls y, i.l siiou1a nase soliut}
a''u pefa1t'Iuee- 10y sst,t ~ oucu tnat ,Su47
lusiSe ioea .na. tueI "uu'o esentuai!! suecceo.
IN Juls, looo, vas GooAe sot speeia1 cnarteF
from congress lor lue ltlcolpolatlon o1 Tue
SAl1oSAi. aI, sunfAsi !, of fAh
oSi1p stAlE2 of aaHhieA.
Jay was Lhen appfo:1cn1ne tue pll1nac1e o. MS
iante. nc nau nv. :. utonopoy u tae 1,s Mseai
business OF the Government during the war;
was at tne "estu - l~Ee f, 9lilhluss
csta6lishucnts IN New 1ork' fhlaociphIa,
ana ashlslston "as tlie projectof any nnail-
M hs.a "a a1., ,,,' iin, Net. ,.t otiu, ~.
-. 49, ~ i; ,.aaa's L,1 ~ j.; ~ 49,. ~.
INA b;,.' ;1.s,,i;iIo y. hanea',r ~, ~ I"u rai.o
70 trs was rs widely known 40 II tl. ~ h,nI onT ni
falS',, VI .o,sarv,t~. o,,,is ,st touh I H p"
-a.1 ,h<,,,, Jn,,Hn,s .,o,,rri mi tho orrn.,h ~
,nnahr.,,,,. 9vftd oc.,sionol,y shaEa t,a;r
hoa5. o,,I ,n,,tt"r s.1;nos ,,,t ,iunvs <r.,,,,,
this s' w'ay'' The National Lie, with Jay Cooke
In, Ii H., n'..1 .ootroI # the noes ;nt
nllu .ie ee.to ieo lug 81 t - mp
oS' a'1on Aooo a.; "o, ,su * 1ua
s.ns w. ;,e a !. 'an r1;ro.a ;,
IL Lao & an honesty palo-9p & eapsal 81 StM' sSo
g. w "1 1ce,J ~. G1 49, t.|.n on va'"'yo.
so 70, ioan, IT, ~ ~ saorerd ~ ~ f.o t;. ane
.,t;'I, na o .th,- ~ vat;ai ,i4J i:5 t .,t
snscu,nb to the ilnaneial whirlwlnd which fol
49, sno ~. ~, s ,,, ~ sn1
1ouets 1 u .ne eo.apans a.lu el1c .asslSnecs ..
.us ,'a .ssae sd .s,,ts ~ e ~ .; tlat !!
We're d ivorced w T from 1.-The the connection on M and an az
Racati1 "as l''a.e ~ ln; ;, U1s1Ict ~ LouIt III
~ ~ lol po" ~ sc4l tlle seociA nelu ny
thosc gentlemen. an o:acr was issued empow-
crlnE the sale TO nc made, provided the stock
was sold for not lcss than par. Henry ]. Fur
ber. then 9icc-frcs;dent OF the Universal Life,
nov OF the Chartcr YAK, proposed to purchase
the entire stock, anu offered Tor it 81 ,120 600. or
II per cent premium. Just Mt this juncture
ENTERS Nh. ). F. CRANK, or ruE REPUBLIC
LIFE,
who, after the manner OF CLAUDIA lfeluotfe, cx-
claimed, j" I outbd yon sorlid huckstcr Here
are IN, 900. Take it; the priceless boon is
mipc.'' and it was his. The National Life
stockholders insisted on 4 cash trade. They
were ayerse to swapping assets or ANYTHING Of
that kind. To raise the 81. 900 mn whirh, f. il
needless to remark. the Republic did not hare,
alT. John Y. FarWel!, 50 one story goes, 1cgo-
t:ucd = loan OF 81 ,o09, No with the Central M
tio1,:l Bank of pEladtlpta, p]edping therefor
thu. assets of tho Rrnub]jc Life. TEs million
was maid to the National STOCKHOLDERS.
,rh,> 4,,rroI orar FIN N,+ton.1 ,...l-'
and this in it's turn was hynothccatci
to raise the s22n. oo1 bonus to b.. uaifi for thc
Con,-,auy Another story is that Afr. Farw.1l
went tn Tho President Of the Central National
closjng Of the trade, aud secured from The bank
a certified check for 81 ,OoO 600 This he turned
oyc7 to the National people. md was riyen ms
session. With the cash on hand, Government
bonds, and other Immediately available assets
which hc found in the vault, he rcnaid
the Central National, as fur as they wouid
auply and for tic remainder parc nntrs
secured BY mortgages, etc, lately the
property Of the National. At alt events, which
ever story be true, the National was not bought
with cash, but with securities, which should
llavc been held rs sacred trust for another
purpose. AS one Of the Incidents connected
with the trade it Is alleged that 4 note for
$100M, made To secure loan from the National
by the President, cx- Commissioner Rollins, was
surrcptitiously caucclcl, And it il further
alleged that ono person, If not two, rcceiyel a
dol,,,e1r for the part lie or they took in mauipu-
1atng the trade. Now, let all examination be
made OF
WHAT THE REPUBLIC PURCHASED.
The deal was made carly in February. 1874.
The balance sheet OF the National made the
following exhibit Dec 81, 1873:
car,;tal mid I'm. 81 nm mn
Assets. -. = 9;7' 10S
Li,.bilitics i per ccnt.... 2, FOG, Os4