The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-03
The state Prison opens ON Another Life
Insurance President.

II, b
president of the American Popular Life lnsur-
auce Company. who was convicted Of perjury,
was brought UP. to day for sentence The court
room was crowded with insurance men,. After
Judge Brady had assembled the bench District
Attorney Phelps msyed for sentence. The clerk
said to Lambert: What have you to say why
you according to lawY
DIR. Lambert stepped forward near to the
bench and unrolling large bundle of manu-
script, began to read occasionally commenting
upon what he had read. and frequently refer
ring to different articles upon the subJs of life
insurance and commenting upon the policy Of
the same. He spoke for over an hour and a half
He began by saying he was thankfu for the first
opportunity to express his thanks publicly to
his friends who stood by him in this, his trial
He included therein his counsel, friends who
had offered money for his use and expenses in
The trial the officers who O.. had him him n eharEe m
paid o high tribute to Judge Brady for the i'm
partial manner in which he bad presided dur
ing the trial. and par icuIarly commended him
for suppressing atemp pied gibes and abortive
exhibitions of wit during the trial on the part
of the prosecution, and his counsel. who took
Dr.. Lambert then expressed his thanks to
several of the New York papers Tor the manner
in which they had handled his case. This sem
tence was esaid. of immense, Importance to
him not because, perchance, he might go to
Sing sing TO spend two or ten years; that was
nothing The body could be confined but the n,
oppressed that his integrity should be contra
dicted by persons whom he knew, and who
| They we're falsi1ers and periurers. not he His
| story was true, and he was now in possession
of facts hat would prove his statements true
and those of the Witnesses against him false.
Instead of standing here condemned" said
the Doctor. Il should be commended by the
poIjcy-boders and stockholders and the public,
and o-day it should be the pleasant duty OF
your honor to advance me to sit at your right
hand instead of being called to pass an un,,
pleasant sentence, nor do doubt such would
be your honors own opinion
Referring to Sunday paper, an extract from
which he read. Mr.. Lambert said it was most
ing him. Referring to q long term, OF imprison-
ment recommended for him and other rich men,
that he and Case were. the only rich men who
were convicted as presidents Of insurance COM
panies-if that sheet he said had been one of
| high moral character in the community he
would feel differently; but when he read that
whore, is he and why is he where he is He
took the counsel that some friends gave me.
[Great laughter He referred to his previous
spotloss repu alton and to his efforts to purify
life insurance, and would ra her go to sing
Sing than to tell q lie. Some people had called
surance, be ause he had not made dollar.
The last part was true but the first part was
not true for he had not dollar in the world
that be could control. He then went on to ex-
plain the manner Of his signing affidavits to
his statement of accounts. which was submitted
to the superintendent OF insurance. and his
| planned so far was admissible upon the trial.
| The largest amount of reserve insurance COM
| WAS
one-haf, sometimes one. third. Some compa-
nies retained none, Over $25. 600 900 were stolen
per year by certain conduct of insurance, and
he had endeavored for eleven years to arous
| the people to a realization of the fact that they
were being swindled out of this large amount
Of money. . -,
newspapers had been teeming with accusations
| that he had been fraudulent. Are my pockets
distended with filthy luore? Have Elm. | mi1li9ns ms
they go through this city to- day. and everybody
bows to them, while am looked at out OF curl
osity as man who Is about to be sentenced "a. 70
Mr. Wingate had said he (Lambertl was 6
monomaniac on the subject OF life insurance
every dollar to sustain my principles | am
over fifty years of age, and have the confidence
of all whom have met and associated with
and they never have asked for security tor me
loan of from $50 to $4,000; my word Was sum
cient and I cannot now bear the idea OF lahor-
ing under the reflection that has been cast upor
Mr. Lambert spoke of the advice given by Mr.
Pulsbury and Mr., Roades to the people OF New
policies, which Mr.. Mccall, the present deput,
report mentions. Mr.. Mccall, he said, Is babe
in life insurance. He is babe enough. though
to draw $1,000 year for playing the babe, and
perhaps cry for sugar. fLaughter,l
In referring to the testimony Of Mr.. Trow. ht
said Trow would not admit that he had bough
furniture for the simple reason that i he dc
he was AFRAID the receiver would make him pay
for it, when, in fact he did, and held it. and gave
their stock as security for it,
Judge Brady. in addressing, the prisoner sale
that he had had a fair trial; that Nhen he wen
on the stand every opportunity was given hin
to explain many discrepancies. but he had q at
terly failed to do so; that as president OF thu
company he should have stood as a sentinel a
its door to prevent fraud. but he had actuali!
winked at It, and that he regretted that MAJ
of his intelligence should bs brought so low
his family, when he had none for them hin,
self, was strange thing to do. In view OF al
therefore should suffer the penalty of the law
which in his case was five years at hard labor IL
the State prison.
Dr. Lambert stood unmoved, smile playing
over his face. He was taken from the court
room by the deputy. and will b. conveyed t
Sing Sing either tonight or early to-morro'
morning.
stirring Up the Life Insurance Men-Th