New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-02-16
INSURANCE TOPICS.
CONTINENTAL EXAMINATION.

MR.. ANDERSON UNABLE 70 EXPLAIN AN ENTRY OF
$355,3l2 5O-iNCoRRECT STATEMENT OF DEATH
CLAIMS IN 1879.
The examination into the affairs of the Con-
tinenta Insurance Company continued yesier-
day EefoIe william Allen Butler at No % Nassall-st Mr..
Parro the death claim clerk. asked to explain the
difference between the death claims in the report OF Dec
81 1879 Sl57275 and in the report OF Dec. 81 1876,
%435O59 9S He believed that the report of 1873 was
incorrect, having been prepared in such way as TO
make good showing. The referee then ordered Mr..
Pirot to make up correct report OF the death claims
for 1873.
John j. Anderson testified that he reported the amount
of securities III the New-Jersey Mutual at $4,000
because he had found three receipts given by the New
Jersey Mutual among the papers of the Connenal-onc
for SII2 900 bonds and mortgages, another tor $ll6
900 in bonds and mortgages and another for $4,000 in
United States bonds lie did not understand the entry
on page 162 of Journal D. Amount for purchasing
policies $5j53l2 So" The only explanation he could
give for the difference between the 100000 in bonds
checked the books given to the NewJersey Mutual
and the $lO2 900 by Judge Fullerton that
he heard that Mr.. Snyth paid $1,000, and this left
@1O2. 900 of the bonds The witness received the
schedule OF these bonds and mortgages from d.
j. Moves. The books never absent from
the Office between Oct % and Jan. "a
The witness supposed that the entry OF S355l2 80 re
erred the transfer OF securities to NewJcrsey Muuai
cOnd satisfaction from Mr.. Rogers about H.
He only said that all the entries had been made under
the direction Of Luther W. Frost, aud that they must
necessarily right. The witness could understand
the matter at all. He thought the contract referred TO
the reinsurance Of the COntlnentas risks IN Pennsyl-
Vand and Sew-Jersey.
Richard h. Weddle testified that he had made out the
schedule attached TO the contract between the CONT
mental and the NewJersey Mutual OF Oct To- 1876. The
work had been done various times at the instance of
Luther W. Frost. Part OF the entries the schedule
had been made after John j. Anderson appointed
receiver bu. without the knowledge OF Mir Anderson
One the counsel for the policy-hOlders told THE
TRIBUNE reporter yesterday that " Mr.. Grace would
proceedings against certain Of tue COntnrnts officers,
and others whose transactions with the officers have
Transcribed the bounds OF honesty" lie mentioned :.
L. IIaIninOnds name, and said that Hammond ought not
to he allowed 10 leave the state unless he at least
$4,000 bonds for his appearance when wanted. Mr..
Grace declined TO give information about the matter.
small but very animated group of insurance men,
large and varied interests gathered In
the lobby Of the ST. Cloud Hotel last evening, discussing
the probability of the reinsurance OF the Continental risks
uudcr reinsurance charter. This charter, il be-
evpd had been signed by the superintendent NJ Insi-
rance Of this STATE and at present in this city wait
ing other signatures The plan, understood
10y these gene.Ien that this charter would provide
for the reinsurance Of the COntlnrntas the
which the assets of the company bear tn the OF
the old policies. The assets believed to be about
50 900 900 and the Liabilities 5000, 900. Deduct
ing legal expenses this would allow reinsurance
about 30 per cent. Tie reinsurance ii thought.
would De made what Is known the rcgistc!e or
North American plan. which provides that there shall
De bonds Of the United States placed with the Supern
with the risk registered Tns plan includes provision
against "wrccknS" the Withdrawal OF the reserve
except upon the payment OF the policy in full death
claim.