The New York herald., 1877-03-04
LIFE INSURANCE TROUBLES.

SETTLEMENT or THE ORDER AGAINST THE
NORTH AMERICA AND GUARDIAN MUTUAL
PosrPoNEp-ruE coxrINESTAL's DIrrIcuL-
TIES.
There was quite m asscmbage OF lawyers In the
Kings County Supreme Court yesterday before Justice
Pratt for the purpose OF settling order granted by
Justice Dykman for the appointment OF receiver In
the suits brought by Etheber. Belknap against the
North America Lilo Insurance Company, and by Henry
r. rreman against the Guardian Mutual iifc Insurance
Company. Counsrllors John /. Hall and John Town
send appeared Tor the plaintiffs, and Mr. X. Sewc and
Winchester Britton for the defendants
Mr. Hill was about TO state tho case when hc was
interrupted by Mr.. Scwell. who SAID that at
late hour the night previous that papers the
handed 10 him at his house, and no had had
an opportunity 10 read them Hc asked, therefore,
for pos poncment OF tho argument
Mr. Hill said he would like to have the papers In
laton the vacation OF tho order for receiver read
Ho wanted to make suggestion which might be Of
some weight If the cause Of the action be good
Mr.. Scwcl said he objected 10 tho contents OF the
papers beng made usc OF nov. Tho case for the do
fence had merits aud they would show that the plain
TINS had rights. The sults were brought by an
uauaicd fctions OF the Law, such MS John boo and
i'irhard Eos who had no authority to make this
-auon. They would meet the case by an exhaustive
acnal OF the charges set forth In the complaint They
would show that the painti had no standing before
The court. and that the appointment OF referee
mn Outrage. sad that there scinlilla OF Law
upon which TO appoint any referee 10 visit tins Imam
cia corporation The case Will be contested TO the
bitter end
Mr. Hill felt somewhat impress ell by what had been
sald hy tho counsel as TO a quantity cf papers that
had been served upon HIM and tho need Ior more
timc 10 prepare reply TO them. He must protest,
however against the designation o the order granted
BY Justice Dykman rs an "outra.c." Inc order
SIMPLY asked them to open their ledger. There arc
allegations which show that there have been some
omissions IN the examinations which ought 10
have been made by tho insurance authorities.
There things which make IL necessary
to invoke The visitorIa powers OF the Court and II
nvoives no hostility To these companies Plaintiffs
think these companies arc bound band and loot TO The
Universal Life Insurance Company, ana ,tcy hoped
place them where they belong They can DO saved II
they can but bc delivered from the hral oil the Unit
vcrsal Company. Counsel then asked that AN injunc
ants rom paving ont money While these allegations
OF mSlnanascmcnt and iisapplicatiUn were pending
was wrong TO allow them TO use the funds OF The
corporation.
Mr. Townsend said that they stood thcre represent
ing most dc cato trust one which men give tho
security OF these respectful trust for tho
chiIuren that to alter them AS between the
deicnannt companies thcrc appeared 10 be absorb
ton going on By Tho Universal to the peril OF the inter-
ests which had boon con1ded 10 The North America.
Mucn time might DO gained by the defence, but they
cannot gain anything until they shall have given, from
trust IL was sautary pow given to the courg 10
mako the vsorinl order W inquire to tho OF
the large mass Of policy holders who have committed
their AFFAIRS TO the keeping oi these companies
Mr Sewell replied, arguing that inqulstOral power
not within the scope OF tho Court but that when
he the term courage. IN reference tho cor.
der. he did not moan II a reflection the Judge
who granted IT. but that, II hot In accordance
with the law, IL was En 'outrage on The defendants
Judge Pratt inquired ns 10 whether tho defendants
would spulate to make further convey 0t tho
funds pending tho settlement.
Scxcl said WOuld do 10 thOy did
want to be cnoined, and 10 have in largo
capitals in the evening newspapers, 'cnjoncd."
any other name would smell as sweet" and the stipu.
lalion made he asked the privilege OF serving
additional atdavts tho defendants, and ho SAID he
hoped there would be 'buli-dozng OF policy hold.
ers' In the meantime. Tho privilege OF serving the
additional papers was granted, and the settlement OF
the orders adjourned TIL Saturday morning next
CoNriStNreL POLICY HOLDERS SECURED
Receiver Grace lay hanas all the property of
the Frost Brothers That he lind order TO
tho large amounts IN which they are supposed 10 pe
indebted TO Tho company Yesterday an attachment
was served real estate In the city OF Roches-
belonging 10 tx. President Luther W. Frost, and
valued at S40 00O.
B0oKKEErERs' SALARIES.
Yesterday Judge Pratt, in the Kings County Su.
prcmc Court, granted the application ot COUNSEL Tor
L. Il. Styles John Ladcn, s. h. Chandler, Jr, George
l.. Garlic and George W. Thomas for order requlr-
ing Tho Tor the aeunct Continental Lilo In
suraucc Company, William Il. Grace, to show cause
why the plaintiffs should not be paid tho duo
them for salary bookkccp OF the company. Tho
order Is mado returnabo March IL