, 1877-04-25
MISREPRESENTATION.

President .Lambeft, Of the American Popular
Lie, which has hocn charged by tho New York In.
suranco Department with fraad and tnismanagu-
ment, as shown IN our dispatches Ut yesterday,
has nIado an informal answer through the columns
Of tho Nav York 1sha<a to the chaEKoA Of tho In
surancs Buperintcndent 11o said hn believed tho
Company to bo In perfectly solvent condition,
and II the Department contemplated any such 40.
tion a. that above mentioned, It was entirely
without his knowledge or that Of any of tho otll-
cess, The examination was not yet concluded,
and be did not believe tho Superintendent bad
sun1cicnt data upon which to base MI application
for an order to show CAUSE. Tho Com.
pany'A management mad, during tho eleven
Years Of IT. c1lstpncc. been OF a most economical
pature, and nono OF tho holer"' iaunoy had
boon tnsnsed or allowed to 20 to waite. A NUM-
Der Of tho stockholders wcfo woasthJ gentlemen,
and ths policy .holders nosd aro ut fear that tho
Company Hoult bo dissolved, for any deficiency In
IT, assets that might bo developed would " speedi
ly made good by than. Mr.. LSmbelt could not 70.
meber tho figures OF the laat Annua' stntenont rc-
lnug 10 tho as.ets and liabilities Of The institution
but know thsy weto much below thoso Of tho pro.
yious year, At tho present tine the Company had
about 3, 600 policies In force.
TO SOUTHERN FpLICr.HOLDERs.
4 xrsat msuy holders In tho South Of lifo.fnsur.
snco policies taken before tho War are. ~ we'll IA
their hers ignorant Of tho reach OF the recent de-.
essloa Of tho United 6sa,es Supreme Court as to
thclr s,ghu. This declslon wa 10 tho etlee. that
wbcrs tho breaking ont Of tho War rendered rho
payment OF tho psemfuus impossible, tho assured
can recover from the company tho amount, With
lntetsss of tesesva At tbe uua whsu this ds4t uay
ment came dua and WIS NOT paid. II ths policy
holder has died, his hairs aud not the beneficiary
named In tho policy can recover tho reserve and
interest. Whsn tho War onoto out, tho Insurance
compantes appropriated thaae reserves on their
Boulhsrn pollciest not dreaming that thsy would
pyer bs called upon for them.
LIGHT ON THE PAaAiuA-noTA QUESTION.
10 ia Editor ar TAs Tribune.
CAlcA1o. Ap5tla. ITO tho Inquiries Of Policy.
Heldes" IN Yesterday = ThHuNx. Nc seply; 10th
tbs value and function Of premium .uots IN the
Company named are Clearly shown by ths unvsIy.
Ing uss msds Of them for thirty years, snd there il
certainly no occasion To .swonder whether We or
tho Company know most about the matter"
When tho subject Of taxing premiums was before
tho Finance Committee Of thc CounccticQs Lsga.
lstule. tbs representatives Of different companies
| reta given N opportunity to stats thelf vsws; ;
ind u It u tsus that the representative Of the Con-
nectseut Mutual while arguing agslnft the taxing
OF premium notes aald sueh notas wsso good only
"to eooat. hs sid what wss correct Thsso Il
no contradiction Involved when the whole m1ttoF
| v taken under confederation. The note 10 only
good to count" - sgainst the dividend and, 1t
The AAms tina, ~ secure and interest. airing
lasst 10 tbs company. But IN !1lustraton OF two
will make this clear to all. The following policies
beeaus elalms BY death. and wess settled thus
SSiSISsSSS S$fsSs esl!s, IS os @ sSssss ssss q
..--..t .taA*Skssa<s N
sAos,a
Amount ot policy. $s oGo % G1h .R07. y
Dlr1dsn4 ..+...... 8A01 Nvt6 .........,..". TAU
l ..0 --,IntarfSS b.K.
tAodaM
| l t10h2.6
Hsu,testly the sboss NOTES we're "2ood " 70 ihs
Company until The policies Terminated. and thcl
Nssa 'tgood" in the actslousnt bCcsuse The Com
papy collected their face. and they wcre "Food
III along ''to count" - axatnst the divide I'd du
| on tho policy ~ shoWn at tho cad. Auy Que ca.
ees that ths pots IL simply N Offset ia III sqaa
amoses os tas dividend, and that thero bad bse'
no n0ts Ia thAxe cAtes- the alvMsnda would hAri
bets psla Ia cash In addition 10 ths face of th'
policies. and theke hs4 hseu no dividend lhs nat
| would have been deducted from the policies. Th.
] Coapsay lo<es nothing; the insured number lose.
nohax. Tbs COMPANY psJs Tia sal,ai rho ma kst u