Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1877-07-27
LIE INSURANCE AGAIN.

The Unisversal Life Insurance Company
of this city is in hot water, the State Su-
perintendent having made it the subject
of special report, in which he charges
mismanagement on the officers and rec
commends that the company be placed in
the hands of "a receiver. The company
will resist such step and insist that its
affairs are in a solvent condition. But
suspicion in respect to other companies has
so often been confirmed, that the public is
quite prepared to believe the worst, and
tits already dead in public estimation. Mr..
Furber. the Vice President, is also the
financial manager of the Charter Oak of
Hartford, which is pretty generally under
stood to be in a bad way; Although, as in
the case of the universal, its solvency is
insisted upon by its officers and by some
outside experts, besides. But a clean rep
utation is so vital to institutions whose
breath of life is the popular confidence,
that to be suspected of weakness or fraud
is almost the same as to be guilty, in disas-
trous effects, and only those companies can
hope to prosper, who stand, like Caesars
wife, above suspicion.
BUSINESS
Begins to revive with the confidence the
new crop inspires. Orders for goods are
coming in already from the country that
has harvested its wheat. There will be a
good fall trade. PIETRo.
New York, July oath, 1877.
The Chicago Tribune speaks plainly but
truthfully when it says: 1.-The Pennsylva-
mia Company pays taxes to support the city
government Of Pittsburgh, and can claim
the protection of property for which gov
ernment is organized and supported. The
authorities were impotent; the people who
intrusted them with power must pay the
penalty of their folly. The net result of
the Pittsburgh mob's brave work, then, is
the filling of the jails and penitentiaries
and an increase of the taxes. 1t was a
costly days work; where is the gain? Is
there a labOring man in that city or in the
| world. who can indicate a single compen-
sation for the horror that has been visited
upon the country? 1t can hardly be sup
posed that the railways will reconstruct
their property burned in Pittspurgh. They
should erect shanties and make the town a
way station.
The subscriptions to the new per cent.
loan had at the close of Monday, the last
day, reached nearly seventy millions of
dollars. This is a very considerable popu-
lar subscription, considering the very linn
tied period allowed to the public to sub
scribe in, and the slight effort that was
made to push the loan. OF the entire
amout subscribed for, about $63, 600, 600
it is stated, comes through the Syndicate.
The success of the loan is, of course, fiat
tering evidence of the Governments credit,
and is, in particular, strong bulwark
against the silver movement which was re-
Gently threatening. But, on the other hand,
it suggests no cheerful reflection as to the
revival of trade and manufactures in the
United States, since any such revival would
be very likely to render investments in
large amounts mt four per cent. extremely
improbable. It also suggests the inquiry
whether the syndicate has not driven a
harder bargain with the Government than
the Government was obliged to yield to.