The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-27
THE CHARTER OAK CONSPIRACY.

CONTINUATION OF TESTIMONY FOR THE DE-
FENcE-rHE LOADING OF THE coMPANY's
PoLIcIEs-vALUE OF THE HEGGAMAS PROP
ERrY-THE ANNUAL REPORTS.
BY TELEGRAPH TO THE HERALD
HARTFORD. Conn. Dec. 26. 1873
The defence continued their testimony to-day in
the Charter Oak conspiracy case. 1t had been ex-
pected that under the concession made by the de-
fence the State would produce witnesses the gen.
tlemen who had appraised the New York "down-
town property. the defence having agreed to let
their testimony be added the States testimony in
chief After repeated disappointments the State At
torney said that he yet unable to get his wit
nesses to Hartford. bur they were their way.
Under these circumstances he asked at the hands Of
the defence further concession in admitting their
testimony on Friday. This was cheerfully granted.
TESTIMONY AcTUARY srEDAAN.
The principal testimony OF the day given by
+. A. Stedman. actuary OF the State Insurance De-
partment, who was examined and cross-examined at
great length as to that financial condition OF life
insurance company which may make it solvent or
insolvent under the Connecticut law. The defence
also drew from him the statement that the loading
Tor margin above net premiums OF the Charter Oaks
policies for 1916 2s per cent. out OF which all
the company's expenses to be paid. The object
or the defence in putting in this testimony was to
show that this margin sufficient to pay the com
mission agreed to be gwen Furber and his associates
without interfering i'll any way with tho real safety
of the institution. On cross-cxamnation the State
developed nothing further than confrmatory testi
mony.
THE HRaGAxAN PROPERTY
The value of the much testified to Hegganlan
Manufactnring Company property came up again
and Hartford insurance agent testified that for
insurable purposes he had valued the buildings &c.
in 1876, at $275O 200. wide difference from the
($l5O00 at which the entire property, buildings aud
all, was appraised by the States witnesses. He
amined the property quite carefully and placed in
changed during the two years following.
George Day. clerk under the Furber management,
was brought forward to prove that the valuation OF
the real property represented in the assets had been
made up from the books Of the company and APP
prasas made at the time Of the loans. This work
done under Furbprs direction. and the prepar-
alton OF the statement occupied two clerks two
months or more. Furber did not the statement
from the time it was completed until after it had
gone into the annual report-that is. he none OF
the details or items Another object in making this
statement was to have correct figures for entry in
new set OF books that were being opened.
ACCOUNTS WERE KEPT
The clerk in charge of the premium note account
testified that until 1876 complete correc.
count kept owing to the faults of the system.
and the officers had in some given only esti
mates in making the annual reports. Shortly after
| the company passed under the control Of the
Furber management. Furber instructed him
to make complete overhauling and open
| a new set Of books. This work occupied
nearly year. The finish was at later period thar
the making Of either tho 1876 1876 reports made by
| the Furbcr management, and estimates had to bt
used in both. reduction Of the assets to the
amount Of f6O000 was, however, made i'll the 1877
account, this reduction being based on the number
OF already discovered, by which the account
was given greater figure than was right