The sun. [volume] (New York [N.Y.]) 1833-1916, 1877-01-30
LIFE INSURANCE FIGURES.
RECEITER ANDERSON SHOWING WHAT
RUINED THE CONTINENTAL.
sixteen Hundred aud Efghty-scvcn Thousand
Dollars Lost-Twenty Thousand a Meath
Expenses-F Forty Lawsuits to Nurse.

sixteen Hundred aud Efghty-.cvcn Thousand
Dollars Lost-Twenty thousand n Menth
Forty Lawsuits to Nurse.
Mr.. John J. Anderson, who was appointed
receiver Of the Continental Life Insurance Com
pany on the 25th of October 1875. submitted his
report 10 the Supreme Court of Kings county
yesterday. He says that he had to send u special
agent to the West and one to the interior " this
State to see agents who had collected large sums
OF money and not paid it over In relation to the
company's agency in London Mr.. Anderson
SAYS:
TIE agent in London has not sent m account or
w.d the balance III hs hands which amounted u about
,sinbsr last ccnnunicscd With him but up 10 dis
niins asa.nst the conun, tal Lie Insurance Com
Psns III Tue courts o. London Tor t4u, brought by W u
s29n suiness per annum which contract was made By
sral ,csrs sinee lie was displaced and he Pre- -ent
yon cNiehds can only say hat large SUM-. OF ,ncney
nanS ne,l I.mii,d from time to time from this office TO
company has sustained loss Of $1,000 by that
lIegret to say that experience In closing up ac
c"r y q, sgnn c rs no been ,sastory h.Ns re-
sil tat mas been received was through banks where At
nearly All other cases the agents have brought the
found I'M. company with forty lawsuit. 10 different
parts OF tue country To which have had to devote much
agns, The various claimants on apsod policies ior large
,n, OF mon, and other where the company had
ON taking charge the once found a large and ex.
sfy making The eSpenses Of he ONCE s2n par month
du"eg his u ~ No. 10" as possioe' re-
A.now presented to The court the iabtc. are shown
r S wSst c e"@pany an" had ' aS Ss the .s
day 10 meet tho~ liabilities am satisfied from the
animation which have made that Tor least six years
last past the company has not had on hand the reserve
r-ks aud Ina, critical examination oi it, affairs 1T anv
unt wlhn that space would have led to the discovery
The a..et. Of the company have included in them
ma 10 ali IA 1llNF. flt.
hnny a. good asset AGAINST the policies upon which
rauy consists of marble building at tie corner nj Nassau
sI V'ynr sI,e,s par. Of Mhlc occupied by the com
snr,d i"r sl,,p Ie other real estate owned by the
county, unimpro,ed cost - 49, 90 also hou-c aud
IL. "a a.. city II f"nSsr' q BY 20 ieei cot s9io2 4,
eae any am ~ wS H a. Under igs
ss, uge Of thc buildings Is insured for $1,000 and the
The company hold two hundred and eighteen bond.
ana on property ug2n which they have loaned
tweu, seven dollars and hy cents It has been mpos
ss O am 70 Of If he o ns tuf vt a PSP1
loans are as good a. the generality OF loans made by
The deposit Of ~ II, - ~ NJ Market savings Bank /.
uonal Bank may he coicctsd in the end TIC a,ar oi
W.. nsnk are N NE hand. 81 receiver and much de-
w., within n,iscn day, next preceding my appointment,
Mutual Lie CYmran, on large number Of its policies
anu a.. onn,i.f huvn Thereof had transferred eeurue.
brought an action In the supreme Court against the New
S'rsf MUTUAL ille insurange COMPANY to recover The
The amount Of slnlpD Ot these securtcs has however.
Insurance Company with iue transfer Of nc same 10 me
=, 800 nsir a-olu" delivery being however, con
which event the SURRENDER Ia me Of about slUroD re-
Sch ~ he Se% Gsis S' Mu SS IS
For de iep",t Of sigSnSS in he insners Rnnk tb
compan, hold Collateral security Ia the amount q sol
he ght The cspy Iaan. ex me az Am H. WI, a.. as
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