The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-02-25
LIFE INSURANCE..
THE ATTORNEY GENERAL CONDUCTING CONT
MENTAL EXAMINATIONS BEYoRK RKY1RZ1
DEwIrT-wHAr RECEIVER GRAcE yoUNI


THE ATTORNEY GENERAL CONDUCTING CONT
MENTAL EXAMINATIONS BEYoRx RxYsRK1
DEwIrr-wHAr RECEIVER GRACE POUND
AMONG THE ASSETS.
Proceedings before Referee Dewitt IN the Continental
matters No. % Nassau street yestcr.
day morning. large number OF attorneys pres.
cnt, including tho Attorney General. who conducted
tho examinations. William Hsrnes John H. NcKeon,
Robert Sewcll and others who did not appear the
case
The first witness called was Mr Chandler. tho formcs
actuary Of the company. He testified that be had
Of tho outstanding risks OF the
pany and the amount required TO rensuro Thorn. he
read the following statement Number Of policies OUT
standing. 9,704; amount OF Insurance. S3s s9 2l3;
amount ofrcserve required by the American table est.
mated NJ four and ahalf per cent $780, matursd
endowments, IS; value s5o,350.
TESTIMONY
William r. Grace, the present roccver. read list a
the belonging to the company his charge
II comprised cash equivalents. gwen into bis hauds
by John J. Anderson $40! 5oo bonds and mortgages,
81. o3l. 900; building Nassau street. estimated By
John J. Anderson at 500, 600 A long list Of col.
lateras received by tho company in trausac-
read II included torty-nve shares OF contt.
nental stock namelcss thirty-six shares OF Atlantic
stock, certificate pa; noto OF william r. Blake Tor
Slo,G25 with forylve shares OF Continental stock ~
collateral: n second note OF William L. Blake for
sio.ea5. with forty-hve shares OF Continental
stock; note OF J. Ii. Rosenberg for Sill, 800
with fifteen shares Continental stock;
20 shares OF Continents Stock IN the Of X q.
Frost with blank transfer attached; 40 shares L. w.
Frost; 10 shares g. Hilton scrbncr; 80 shares, L.
W. Frost; 80 shares, L. W. Frost; rs shares, L. W.
frost; 20 shares' W. Frost ~ shares l. W. frost
the stock OF L. w. Frost X. C. Frost aud q. Hilton
scribner had blank certificates OF transfer attached.
n n Hmm
secured by 335 shares OF Metropolitan steamship stock.
THIS loan ID part paid. and securities arc valued at
REQUESTS LoAxERs' RAxK
Recover Grace also read list OF securities delivered
TO Rim by John J. Anderson which were received from
tho Loaners' Bank coatarals. II COMPRISED l. 500
shares OF tho Conncnta Railway and Trust CompAnys
rcrre Hause Railroad, 600 each 200 shares Of
the Grand Central Bank OF Now York. par value $25
ss Of Long n 10
shares OF the stock OF tho CitiZens Steam Railroad
p,p os per saeh a tho
Company. aud Two duo bills Of $2,5SO 80 each from
Thomas Z. Durand.
Receiver Grace said he also received from Mr.. An
derson an envelope containing forty aud onehali
shares OF the ST. LOUIS Chemical Works, par value
$500 share; an envelope containing mortgage on
the personal property OF Bernard Lesser envelope
containing ono OF the ,hrss mortgage bonds
OF the PhGnixburg and Gordon Railroad Com.
pany, an envelope containing two memorandums,
anu another containing a mortgage deed and papers
relating thereto; an envelope containing a mortgage
ana papers from A. s. anu A. f. Loringsi an envelope
containing deed OF trust from f. II prouty also an
envelope containing a mortgage for ST., 900 IRON q.
Hilton Scribner on property in YonKers
MORE QUESTIONABLE ASSETS
long list OF stock OF the Empire Mutual Life Insur.
nnce Company held among the Continental securities.
was read BY Receiver Grace Thcn 10 lowed number
OF deeds oil property situated IN Yonkers, where tho
Frosts resided. Among these wcro deeds IRON J. IL
Sanderson referee Robert Merchant, referee; Mary Z.
Campbell ana David Ncrplank.
Among the bulls receivable read by Receiver Grace
very large number OF checks, notes and drafts
There we're included worthless draft from Luther W.
Frost OF ST. $50 and drafts by Luther W. Frost the
New Jersey Mutual Lilc Insurance Company, aggrc2a
Ing Sl7, 59i ~ part OF this had been accepted ~
J. ii. Stedwcil President oil the New Jersey Mutual
Tho receiver also testified that ho had In his posses
sion wcil-nlcd envelope marked worthless and
checks. He could aot give any estimate Of the real
value OF the securities enumerated above.
Mr. Chandler, the nctuary, WAS thcn recalled and
testified reference TO the death claims against tho
company and TO tho fact that amount OF held
loans against policies was 81. Dos. 0S7 &c.
The rcercnce was then adjourned until March .. at
twelve O'Clock.
TRAVELLERS LIFE INSURANCE COMPANY.