The sun., 1878-04-21
THE BRoUGHAM BENEFIT FUND.
Why Mr.. Phipps Claims u Commission for
Having secured its Investment.

William I. Phipps, an insurance agent,
claims $500 us commission for having secured
the investment Of the John Brougham Benefit
Fund. in the New York Life Insurance Com
pany. He says that about two months ago Mr..
5. L. NJ. Barlow one OF the trustees OF the fund.
sent for him ami asked him to obtain from the
various life insurance companies tho highest
amounts that they would annually pay on an
annuity policy for a deposit of $4,000 on Mr..
Brougham's life. his age being about 70; that
he at once obtained and gave TO Mr.. Barlow the
rates Of six or seven companies. OF which the
New York Life was tho highest: that Mr.. Bar
low agreed 10 lay the matter before the next
meeting OF the trustees and that he secured
from the New York Life Insurance Company
proper application papers TO negotiate the mat
ter The company WAS very anxious to get the
investment. he says, and as an inducement
agreed to make their rate OF payment to Mr.
Brougham higher than any other company
that the company desired 10 know how much he
would take to negotiate the matter. and agreed
to give him hye per cent. or double the usual
commission, II ne Tould secure u Tor thein, lie
also says that Mr. Beers, the aciugry nnd Vice.
President OF the New York Life Insurance
Company. made an Arrangement with him
the signatures of the trustees accepted without
that Of NJ. Brougham. They agreed t. fix the
age at 20. II having been said that Mr. Brough-
am had refused 10 state his age, Some time
afterwnrd Mr.. Phipps was told that the matter
had been settled, ond that the insurance. COM
day during the rest OF his life. Mr.. Phpps then
demanded his $500 commission. which was re-
fused.
Mr. Beers says that Mr.. Phipps did not secure
the investment Of the Broughnm fund in his
company. although he did talk about II. The
arrangement was made with another person
who received the commission. He denied pos
itivrly that he had made any arrangement to
pay Mr. Phinps a double commission. Theo-
dore Moss. the Treasurer. had told him that
Mr. Phipps had no authorityto make the invest
msnt. and was not entitled 70 any commlssion
Mr. Theodore Moss thought that Mr.. Phipps
was not entitled 10 any commission.
Mr. John Brougham was walking hriskly
through Seventeenth street when the reporter
met him. He said: "Phipps? don't know
Phpps; never he,ard Of Phipps, never had any
thing 10 do with Phpps Mr.. Moss signed the
papers in my name, as my, attorney; and ! am
very much obliged TO him for what he did. OF
course | should have preferred ~ take the
money and pay on my creditors rs | expected
10 do but the matter was taken out OF my hands
10y the trustees. and this annuity was bought. j
should have been very ungrateful indeed II /
had refused 10 accept II. and did not refuse.
To be sure II is not very extraVagant sum.
and cannot indulge in many OF the eccentrici-
ties OF life with it, but II is something to look
forward 10. and perhaps may live long enough
TO earn money enough Ia pay all my creditors. "
So Phipps was mistaken when he said that
you refused to state your agef
Certainly; j never rciused. why remcm-
ber the salute that was fired Just nfer the battle
Of Waterloo in rejoicing over tho victory. |
wac "A a..i.t IN my rurer's arms "nd vet ra-
member distinctly the rattle Of musketIy along
the Quays. Some Of my friends are dubious
about that but my memory is Ms strong rs IT is
Of Il tremendous whaling that my father gave
mo about that time Both Incidents you see.
fire OF character to fix themselves on one Is
memory" Then Mr.. Brougham dropped into
pleasant "reminiscences OF the old Chambers
Street Theatre, and was soon quite oblivious Of
Phipps.