The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-12
MR.. UICKHiM's ferry NICE PLICE.
When he can settle the security Life Bust
ness. mud Mhnt he lmn Paw.

solitary clerk stood at the desk In the
ofllrc OF the dciunct Security Life Company
yesterday. turning over now and then the
squeaking covers II big ledger. In the days
when President Case was running the company
on assurance. this long desk was fringcd with
fashionAbly dressed clerks. A snd-looking lad
on n stool by he window was the relic Of the
lads who used 10 dash in and out with messages
and checks. Even the genial ex-Mnyor Wick
ham does not seem happy in the little inside
ROOM and when q reporter for THE sun stepped
in the ex-Mayor's face took the unnatural ex-
preston with which he is obliged daily 10 face
indignant creditors.
Good" tho cN Mayor sail. with look Of
relief. when he learned the nature of the re-
porters crrand. TO tell the truth. | shall be
glad TO let 1t be known Just how am fixed here.
Why, | could wind this thing UP in a week IL
was only allowed; and | tell you what relief
it will be 10 me TO get out Of it,
Then you have got the assets down 70 a
cash basis p
Yes. pretty much. and I could pay or the
claims at once. but how can - with sigh OF
despair, dropping into his chair and throwing
a hali-smokod cigar into the IRE. Between
courts and decisions. adjournments and
referees, abuse and letters; and oh, | don't
know what-well, II any one thinks this Is an
easy place for mo. he MISTAKES that is all. hr
triple tn feos. lt,isni Ike Jacks work more
But MANY fancy that YOU are having an easy
-" Easy oh. yes! Easy Very ca4y. Very
nice. Oh. yes. t. he called whit am called.
To get such letters a. | get 10 have To stand be-
tween courts and arguments ON one side, and
unfortunate creditors on the oiher. on yes.
The rcc"ivership Of n defunrt life insurance
Then ex-Mayor wickham took tho reporter
six inches Ink. be said: Il am getting these
letters every day Very pleasant Here one
The r.. lrtrr begged 10 b" excused
" Now inc trouble is Just here." the cX Mayor
| said. " The Security Is the first III, Insurance
company that has actually failed without rem
| legal questions have come up for the first time.
| For instance. Here are over 100000 in death
| claims that matured before the company
| failed. have got the money 10 pay them. but
| the question II are they preferred claims
don't sec why not. These people earned thoir
| But that was n question FIR the courts. Then
| here's another. taxing down an immense
thing. Here's james Jones'. Hes paid in
$500, but W. find s3l5 in notes against him.
| Joness notes from his payment and pay him
tho per cent. on the balance, or saul ! return
| JOncs's notes He objects 10 the last proceed
ing. Other life companies recciyc are whit.
ing 70 see how the courts will decide this |
happen to 9 be The pioneer VIII made up
| resort, We got n decision. Some of the cred
| tors think IT a Kind II BunSby decision. Pow
erful and weigh,y i You tlnd out what II means.
a. was Bunshy's For Why Which way If so,
why not2 Therefore, So we have got the
| matter left out 10 Il referee and thcrc are to be
argument, pro and con. and hearings, &C.. and
| finally. perhaps. can find out what the law IL.
and then can close the thing up and get out Of
-" Can't you close it W on your own response
"CantI Oh. yes But suppose think differ
| entity from tho court, then | am personally
| liable. Yes, very Pheasant place Mnnyof these
people have the most prcuilr ideas. GU UNI
! derstand 1t isn't like Il bank failure. whore you
can tell in an instant Just who are creditors and
Tor how much. These people scl Insured, ana
| pay their first premium. Then they get great
document with nm angel living down on it, and
| aweeping mournrr by newly closed grave
ing an insurance policy 10 the mourncr. And
| this big document says 81 900 on it. and has q
lot of signatures and some great seals. The
people that got this think, oh, this means huSl'
ness. This Is good for ono thousand dollars
and they actually suppose, some Of them
that the company owes them 81 900. Others
| think they ought to get back Just what they pait
in with Interest. forgetting all about the notes
| they made part payments IN. why, have over
1000 900 in notes. 1t is hard enough to fn'
out who are creditors and for how much, am
then comes tho hardest part 10 make the credi
tors see it IA you do. and 10 know all tho while
they think you are Just as honest m the ngon
who insured them. Oh, yes, worry pleasant an'
ehsy.' 49,
Come 10 see me? Well yes, now and then
once IN while should say. But no ono en-
blame them for wanting their money AT IN
same time no one knows the fix ! am in, thinl
rs soon IA these legal points nre settled shal
sincerely trust that these points may DO settle'
| al an early day.