New-York tribune., 1877-05-01
THE COURTS.
TIE AMERICAN POPULAR LIFE.
ALLEN BUTLER APPoISTED EEFEREE.

WILLIAM ALLEN BUTLER APPOINTED fEFEhIh'
The application for the dissolution OF tie
American Popular LIE Insurance Company ana the ap
nontmcpt Of receiver 20 wind mp It's affairs was made
bv the Attorney General yesterday 10 Judge bohohe'
in Snprcmc Court Chambers. The papers on "hich ~.
oprl;cati0n is based have been already rupush'o III
TIM TRIRuNE. George Bliss, appearing for the com
many said that the petition forth statements when
II corgc. woald Justify the dissolution Of the company
and the appointment OF n recciycr but ho ma adaFil
iu denial difference OF 5l3j 900 turned On question
how the reserve certain pocs was to be cacHlaeu
Tie discrepancies 10 assets were various, some peE
rejected which the defendants regarded rs proper the
inquiry OF the superintendent Of Insurance seemed 10
have been directed to the compaays condition hs oi DEC
81 1s7G Since that time 1t hal improyed AZ any rato
his report was not correct Mr. Bliss therefore
made an application under the statute for the appoint
meut referee ascertain the condition oil the com
many and the Injunction could OF be continued
Atloncy-Geuer; Tarchild urged that the referee DC
one familiar with this subject and suggested William
AIl, Butler The order was entered in accordance WIN
the Attorney Generals siisgrsiion. MT, ,,d =, il
Tho principal affidavit which Mr. Bliss Iei'It" W Is
mado by Thomas :. LGnD cr the president n ', 'oi %
pany. who denies all fraud or intentional ne al e2ht
mcnt and that Of the Insurance Department ng ne. 's ~
ls the net premium reserve, slated py hhit
10y the superintendent at Sil32@6 %, a
over 1876 900. Last wear he sent out acrcuaI
That the low death rate enabled tAc c9nriiJ - ,rfgbt
bonus to the amount insured ana tioso % I crnnsed ~
ON rcjX X4innatinn policies Tor tht NY
amount Mr.. Lambert said many "cSypt'u .soryc
proposition and took cut new policies lHc I'so,n 80
on q new policy is less IMAM an ol ,Tn,1 %.g,
hnt the superintendent insisted on uel'hS t,'' ,pd
ms combinations Of The old policies Tor lhe , G
amount The unpaid losses were put by mn ~
G thr srprlinterdout at S9i.2ll 81. MANY los IN
Guided by the superintendent had not h@Cn 81. t m
wears ard hc had not included them, ana 90 1"
S,as i'm DISPUTE ne had mt down Ht Sl24ou, u' ,i
AT which the claimants had offered 60 cohfI''SJii Ill
assets were stated by him at S1o5,O- % HI ~ c W
ny tIc suurrirtcndcut no S2oJ62J 81. lhl' rdnltti
~ non rejecting 900 Of oans, which we're EI hunG
loans on collateral; from tIc rlcctun NoliN oi ~,
haiaf,crs which were worth S3Mnin. ctrii!"!5, iua M
sn,gr lad been pad from the r.ahrIoh ol !'ail,@ III ~
,,iicog nrer tIc reserve which ne claims Is UNJUST ana
IRON, mo rejection OF other assets winch tie l"ThS OF ~
insurance Department compelled lm 10 lhciHdo III us
stafrcut ne insists that hs statement - Sups'dh
nm v correct; and that the Offices OF i-e COMPANY 80"
now iu,iug a careful examination ds 10 IGc tuhutnh VI
tbr ciIrgGy ON April 80 which VIII 'aEc some Hho 10
Drruiv Insurance superintendent hceaH went ncIott
tIr rand Jur Yesterday with large qutEttY OF book
and tap,ls containing The documentary evidence OF tne
n~gad ,i:unaty OF the officers ot iac American lopu
lar f. Insurance Company TIc cyid nee against mem
is All ir aud strong sad 10 have been presented
Bud q Giid.rs,cVc will open court IL Genera" oSslui'
Part H. ou Wednesday for tie pirp0se or IeccNHS IN
Ic,culucn OF the Grand jury, aiter "h'ch aIeS'' WI"
no MAJ