New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-04-24
INSURANCE DISCLOSURES.
rRouBLEs or THE AMERIcAN PoPuLAR.

TROUBLES OF THE AMERICAN POPULAR.
ORDERED To SHOW CAUSE WHY RECEIVER BE NOT
APPOINTED STATEMENT BY DIR. LAMBERT.
Attorney General Fairchild obtained yester-
day from Judge Donohue in supreme Court, Chambers,
an order that the officers OF the American Popular Lie
Insurance Company show tomorrow why the com
pany be dissolved and receiver appointed TO wind
up affairs The company is meanwhile entoined from
prosecuting any business exercising OF its cor
porate rights and from receiving paving any moneys
ON its behalf until further order Of the court Inc
order was granted the petition OF the AttoneyEeh-
eral, setting forth the report Of superintendent SuN
that the assets OF company insufficient Ia Rei-
sure the outstanding risks This statement was accom-
pauied by the report published in yesterdays TRIBUNE
Following is the published list OF the Board Of Directors
of the company: IL. III. Van Dyck, Erastus Brooks JOhn
T. Trow H. L. Bancroft, aud I. 5. Lambert, NJ d., OF
New-YOrk City; I. shonnard OF YonSers Moreau Nor
rs NJ d., New.YoTk A. Carter. jr Newark, y j.; {. T.
Smith Rochester, y. W the Rev. C. ID. Buck, HoboKen
Nj; c. l. Allen Salem, n. Y. W. H. Dwinene, NJ d.
New-York City; T. ID. Fuller. Pcekskiil; Levi Hatch
South Hartford, n. Y; L. NJ. Liddle, Salem, n. VI;
james Crukshsnk, Brooklyn f. T. milegan, Kingston !;
George L. Buckley, New-York City T. W. Reyes, BROOK
lyn; Chas T. Bukley and WV. Sharpe, New-Nork CITY
the Rev A. Il. Lambert, ID. D., Rupert, VT The eXecu-
tive officers are T. 8 Lambert, N. d.. President Mo
reau Morris NJ d. surgcOu-n-C Chief; L. W. keyes Act
ing Aecntinshief; H. +. Bancroft, Treasurer; james
Cruikshank Secretary A. j. Reid and John PATERSON
Aetuaries T. T. Milegan, superintendent OF Agencies
George Bliss. jr, aud Emerson W. Reyes CounseorS
ADVISORY Board-H II. Van Dyck. +. ". Reyes, the Kew
G. d. Buck Geo L. Buckley, J. +. Trow, W. II. Dwinele,
NJ Finance BOard--J. +. TrOw, C. j.. Buckley, l. D.
Lambert N. D. Morreau Morris, NJ. d., L. W. Reyes, b.
L. Bancroft
Dr. Lambert the President, prepared statement yes
terday which he says that superintendent smyth ne
nounces fraudulent various matters concerning whch
Mr. SMITH takes a different view of the law from That
stfrl ~ "A
Or Lamber) is content TO leave the decision OF the
oueston 10 the courts simply mantainugthat his mo-
tvcs are good those OF the superintendent In re-
gard 10 the Sl2O67 81 bills receivable, and S2ol9 %
agents balances which the superintendent III hs report
marks "a nothing" Mr. Lambert asks no was intended
that the reader should infer that nothing was discovered
by the examiners corresponding to these sums. lie
says: "These figures IN the books, regular ana
based upon underlying facts. OF course We knew that
they would not he admitted assets under TIE view OF
the department. but had not only right to report
them as assets 1t duty to do H. They are
worth what they worth. Some OF them have been
pad since In no ease however, IL any part nothing
Referring 90 charge OF the Superintendent tha u
was common custom Of the company before mixing lne
annual STA cIent 10 The department TO transfer to some
of the directors Of the company certain worthless a
con MIA ard receive in exchange mortgages on property
In tins cty. Or. Lambert excaims; Happy company
win surh o-eay directors" lie admits slc tl9ns-
action the Of Mr. sharpe but says IL th9fc h.'
been any wrongdong IN the institution nave done H.
Iwil assume IL al. The superintendent talks ABOUT
punishment II he cau induce The Atio ney u'hei. 10
mfct u, am ready " ne ulrd oeio'e my jug W. S
fellow citizens and n they convict me 81 any NroIt
doing | am quite willing to have NV sins III regard
thereto scoGrrcd UU lut 90 not propose 70 nave oei
innocent and worthy qzes snier WT"niiuil ,si 10
that tie superintcudcut The Transaction was BONA
fdc ore with him. and the mortgage was gwen To accom-
MEDIATE tue company because The ohcais hHd auS ne"
regulations that ypaf aud uOn-admted what had pre-
Niousy been admitted and We were Ohlsd III some
kesG1ns ,nJ ,6 ' Smncrinieodr,ts renori DR.
-t4f lIut /.