New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-07-18

POINTED.
Mr. Furber has proposed n review and defense Oh
his management of the Charter Oak Company IN a
abatement addressed to agents and policy-hoders
Extended charges of conspiracy and fraud are MADE
in the complaint in the $4,000, 900 suit brought
against the Universal Insurance Company by the
Receiver of the Guardian Mutual. Judge Landon,
on the Attorney Generals application for Receiver
of the Universal appointed Isaac V. French referee
TO take testimony.
THE GREAT FOUR MILLION SUIT.
CHARGES AGAINST THE UNIVERSAL LrFE--AILEGA-
TONS OF CONSPIRACY AND FRAUD IN THE COM
PLANT.
The suit against the Universal LIE lnsur-
snce Company TO recover $4,6oO,OoO repor'eu III !o
ferlays TRIBUNE, is brought in the supreme |our.oi
Albany County The plaintiff is Henry r. Person tne
Receiver OF the Guardian Mutual Life ana inc ueieu
ants IN addition TO the Universal Company are Henry
J. Furber George L. Montague, John H. be"ley, 0nen
pard Homans, Smith Romans, andre" ". "'N
Lucius McAdam, William Walker, and Everett olapp
Messrs Walker. Furber. Bewley. ana mon'asuo
are respectively President vcePresident secretary anu
hctnarv OF the Universal Company. Mr.. GIL was the
President Mr.. Capp the vioePresdent, and MI Mo
Adam The Secretary OF the Guardian MUTUAL Inc ooL
plant in the suit which is very long, Is taKeh UP s
bv charges that the transfer by the Guardian 10 the
Universal was worthless and that conspiracy eAseu
20 defraud the pocyholders in the Guardian and 10 dc
eeiye the public and the superintendent OF Insurance py
means OF false representations
Mr. sewen the counsel OF the Universal was IN ecnc-
pectady Yesterday arguing the motion for the ap
poptment OF a Receiver OF that company MI Person
the plaintiff In suit refused to furnish copy OF inc
complaint aud referred all who made inquiries OF MN 10
his counsel Peckham Tremain OF Albany. 81 do not
wish to say anything about this natter nc reaTAe" ~
n TRIBUNE reporter. am endeavoring 10 get ut 'ne
bottom Of all the transactions of the companies OF "ch
am Receiver. I am laborng for the interests OF tne
aDqffiy va
suspicious"
William 6. Opdyke who was director ana one Oh INC
counsel OF the Guardian at the time OF the TRANSFER Sau
that the transfer good thing for the company 10 90
and he advised that the step should be taheh' NIX w
dyke was wrongly reported to be one of tho Defendants
IN this suit
sbeppard Romans stated, in answer to TRIBUNE re-
porter's inquiry that he never was employed ny tne
Universal Company alleged in the complaint IFS
only connection with the Guardian was that OF Consult
Ing Aruary or mathematical counsel and he haa NOT
been yearsdrecty or indirectly connected WIN e
canadian to the Universal it was made in good isltl
The Directors OF the Universal at that time ncmoeo
some OF the best men In The country At Az u1r
Sarluel d. BabcOck George $ Coo Martin baIns NlaIh
q. Ian bart Dr. T. NJ MaTkoe Dr Jonn a - dTo S Of
William Walker. smith homans was n05 ,i u.leoot ti o.
the Guardian and had nothing 10 90 WIFI INC heso'"
The Compliant after setting forth the fact Of Nj Ple5
sons appointment as Receiver on iic @ iooe ~
and inc condition OF the Universal Company aegcS III
That on or about March H. 1874. knowledge Of the
,,,s,,d Condition of the Guardian Company having
heen co1mnnicated 10 the defendant Henry j. Further
thcpV c the UNIVERSAL hewith the other de
,nGan aud with other persons unknown entered into an
unlawful Mot and conspiracy - get poss,ss1,n anu on
OF enriching the Universal and OF che4ng i1e P"cy
holders Of the Guardian That the OnlVefsa Cnlnlma!
nv the defendants for their unlawful designs
ia Ta van ne as e' fo%s Alter aScertanng approximately
what tue deficiency in the Guardian amounted TO- IN
orer ~ enable il 70 pass the scrutiay OF the insurance
superintendent and 70 escape decree OF ussoiutoH;
pretense was made Of contributing the amount 81 the
e4.g.. in IL.
coinrenSeton for such pretended contribution, con
tracF Vas obtained from the Guardian which
yroDid opnear 10 he contract of reinsurance by the
9iyersai That Mr. Furber further pretended to obtain
spccia contracts, by which he was TO oe pad 9nor-
nous commissions. That IN order to protect the Du-
vcrsa Company the contract while apeafflns 20 ne
reinsurance, should IN fact DC conld"St ot u'l1 C
merely OF certain percentage OF the GUARDIAN Com
pauys it's policy obligations on condition. OF inc
absolute payment 70 the U1lyeiSh Oopa! vi a e, c
sum Of money TO he named IN the contract ana 20 DC an
amount which the said Furber and the SAID GU Capp'
and McAdm well knew such Con pany would mo II IN,
po-sibc 10 pay failure to pay this amount would
feeas the Universal from all Obga lions under the con
The complaint further alleges that It was also pro
the way of brihes Ia the officials ana drec Ofs oil te
Guardian Company, Ia obtain control OF TINS company
,he metIods o bribery large commissions on all
premiums paid over by the Guardian to the Universal
Representations were made to The poicy-holuefs OF me
doubtful condition Of the Guardian III order To lslu INTO
tnrf nGs inc tsaf ei Was 1s' not advisable to con-
tnue the payment of premiums to the COMPANY 80
Universal IL also designed to purchase az reduced
rates the policies from policy holders ana then 10 OBTAIN
fm HE Guardian the whole OF the reserves
on such policies, greater portion thereof ana 10 re-
tain 1t profit 10 the person mahlng the purchase.
taken and worthless securities were substituted theTe-
for the prOced being divided among INC persons VINO
We're fo participate in the division OF the spols The
Universal permitted to retain the assets transferred
as aforesaid under claim that they were forfeited by Iea
sou nonperonnsnce of the contract on the part OF
the Guardian Possession Wa7 op1lleu VI 'IS . ,Ps
nnd other income 20 which the Guardian was entitled
Al the time OF making the contract, tue complaint al
leges that the Universal had not Tue ptcuudl! auy
10 perfo the said contracts on ia part ana 10 continue
solvent on May II, 1874, pretended Examination was
made into affairs of the Guardlan company lor tne
1urlose of ascert2ning the deficiency sum-S65OOOO
Was agreed to represent such deficiency, which
really Exceeded that amount, the defendants well
ineN The Insurance upes1ntenden relying upon this
false and fraudulent representation considered the
Guardian solvent provided TO1o,VOO was aINalcou 10
tbe Company Upon these representations the transfer
Ia the Universal made and the superintendent was
deceived the belief that S65OOOO had been added to
me Guardans assets; whereas in truth that Company
had moi received any contribution or advance Of any
value whatever but hOprssy lnsoivent ana unable
report made showing Is, as ~ IT,, gi VI
So 15A 81 Through the aid OF the Universal MI fTber
purchasrd controlling interest III tne opsad s,uck %
hfessrs. FuTbcr, Gil, Montague, walker, BtWley ana
Clapp. a., 1900. =, ..
tho Guardian and Universal was absolutely void, and
that the making OF IL was an usuation o. power on lhe
mari OF each company He declares that In consequence
81 the foregoing and by other unlawful means the de-
PENDANTS have unawuly converted 10 their and
benefit the assets property secnr,es money pisni s
fual Company, Of the value. and amounting 1T
least 10 The sum OF s4,6OO,OOO, to the great
s,maged OF the said company aud the
roiicy holders therein and 10 the poicy-holders in
tbe other companies whose policies were assumed by the
and that an accounting he had To determine tie
nmounI of the property and assets BELONGING TO the
Guardian Company now ~ Possession OF Tie universal
Appen led TO the complaint the several contracts
between The two companies
fstr A AANAGEMENT