The New York herald., 1877-01-17
INSURANCE TROUBLES.

THE WARRINGTON LIFE DECLARED IN GOOD
srANDIxa-rHE coNTINENTAL's RxoEIvsR-
SHIP.
II is encouraging to note the discovery Of life In.
company that has successfully stood the test
OF Official examination. Tho Washington LILO Insur.
ance Company, which has just passed through the
hands OF the Insurance Department, Is pronounced
to be sound IN every particular. Assistant Supcrn-
tendcnt McCals report to that effect may be expected
within day or two
Tho Mutual is now In tho crucibe, and others in
their turn will pass under scrutiny. Mr. smyth
has been no: little hindcred IN pursuing his ex-
animation by the resistance Of the Continental to
his approaches Every one Is satisfied that until be
succeeds obtaining control Of that bankrupt con-
Germ its rcal condition cannot be known. Mr. Smyth
does not feel at all discouraged by the recent stay OF
thinks thar the defence flee no further than the
Court OF Appeals on the 23d Inst Then and there
they must meet the issue, and stand or iah by the
result When the reference can hc proceeded with
there Is IN plain unvnrnished tale" 10 bc delivered
which Receiver Anderson we'll understands and would
gladly escape
EKcEIvER ANDERSON DiscoxsoLArK
This gentleman, in conversation with HERALD rep
resentaivc, expressed his conviction that he would
eventually be removed from Office Ho said that oil he
desired was to complete his statement and present II
10 the court which appointed him. To do TINS he
thought might occupy len days moro time Ho de
clnrcd his intention OF lighting Tor that delay that no
might show 10 the policy holders how much he had
son; and is tho opinion OF his opponents that ho
certainly WILL Had the valiant gentleman been tribe
there might have been eoodIy saving 10 tho policy
holders IN tho way OF counsel fees The chances Of
report from Mr. Anderson arc said In other quarters TO
be very remote.
PROCEEDINGS BEFORE JUDGE PRATT YESTERDAY.
Application was made In tho Supreme Court, Kings
county, before Judge Pratt yesterday, by counsel
for stephen English, policy holder in tho
York, for tho appointment of rcfereo to
amino to the moneys received by tho
receiver Of said company prior to January l,
1877. Mr.. John J. Anderson was appointed RECOVER
pcnente lite on October 25 1876 Tho application for
based upon the ground that the receiver had
failed flo report on January !, ns required by Law.
General Tracy. who appeared Tor Nifty policy holders.
said that his clients desired to have the inquiry before
reierce greatly enlarged. charge had
bccn mado as to tho propricty, OF having Nj.
proper person then thcy should know OF il in the re-
port OF the referee. Tho whole thing ought to be ad
open 50 hat the policy holders may know what they
have to expect from the In the present state
Of public sentiment the subject Of lie insurance,
neither the Court, tho company nor tho receiver
could Afford to have anything covered Arcicrcc OF
high character should be appointed SO that all might
SEQ whether there was any real foundation for dis
trust.
MIR. r j. Moses, who appeared for stephen English.
SAID II lttc remarkable that these policy hold
crs should como IN on the present application. There
special referee already appointed IN tho THIRD
district Their evident design vas 10 cover UP the
matter and to get His Honor to appoint friendly
referee. Tho attempt on tho part OF General Tracy,
counsel sad to extend the application IN order to
crush the inquiry. Really tho oply questions were
how much money had the rccclver got and what
amounts were due the policy holders.
Judge Pratt said II n referee was appointed hc must
also inquire what money ought to have been IN The
hands OF the receiver with duo diligence. An ALL
davit by Recover Anderson was presented by
Judge Fullerton. setting orth that he had been close
with tho full clerical forcc ever since Novcm
Der 25 They had tccn unable 10 prepare thor report
as there were 200 policies. Tho accounts
OF their agencies had also toll procured and examined
The affidavit forth that $780, 600 hvd been
ccvcd. The counsel said that he had been informed
that tho report woud be rendy III ten days.
Mr. Moses said that RECEIVERS counsel asked for DO
lay that the Gland sharks might devour the policy
holders Then few persons would get all the
policies into their own hands
Ex-Judgo Fullerton defended his client. and denied
that there any intention to dctraud tho policy
holders.
General Tracy hoped that II would DO made clear
show officers OF the company had made reports undcr
oath showing their soIvrncy, while all the time they
were worse than bankrupt"
Judge Pratt took the papers and reserved his de-