The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-12-13
CHARTER OAK CONSPIRACY TRIAL.

RESPONSIBILITY OF INSURANCE COMPANIES IN
ADVERTISING ANNUAL RETURNs-FURBER's
COMMISSION AccoUNT-MIsLEADING FIGURES
IN AN ANNUAL REPORT.
HARTFORD, Conn, Dec. H. 1878.
On the meeting Of the Court this morning in the
Charter Oak conspiracy trial Judge Hovey announced
his ruling reserved from yesterday the question
of the admssbility in evidence of newspaper adver-
tsements of the annual statements Of the condition
of the insurance company at the close of the years
1876 and 1877. The prosecution had presented these
proofs that the accused had made false
statements, the returns sent to the Insur-
ance Department having been ruled out. The
Court ruled that the advertisements could not be
received. and said that an advertisement of the
annual report of insurance company is not
statement from which policy holders could infer.
without inquiry, that the company had such assets
as the advertisement alleges, that the same
good dollar for dollar. The Court could not believe
that anybody will pretend to say that the company
by means o. TINS advertisement presented state s
their full amount. II may be the duty of the officers
of corporation like this to that bad or doubtful
assets marked off or reduced in value on the
books of the company. but matter of fact this
is not the practice, and officers not to be
charged as consprators because of negligence
in this respect. These accused did not
state in the advertisement that the companys
assets were good" as alleged IN the information.
IL they had done then they might be held respon
s;blc for such representation. In conclusion Judge
Hovey said that as this was criminal prosecution
the strict rules of evidence for such prosecutions
must apply.
mr.. FuRBER's ACCOUNTS WITH THE COMPANY.
The principal bookkeeper of the Charter Oak re-
sumed the reading of the several accounts between
the company and Furber as its financial manager.
This account showed balance due by Furber on
July 2 1877 about the close OF his connection with
the company. of $2os,477 9S on his gen.
eral account, but there were special ac-
counts reducing this balance, and when Furber
from q
settlement of his several accounts showed balance
due him Of $4,000 This settled in the settle
mcnt made under the contract with Jewell when the
latter entered upon the presidency of the company.
The credit side of the account is made up principally
OF credit for payments real estate and other
counts for legal services for Furbers salary. &c.
One Of the largest items il credit of $2 537 80 for
from apscd policies under the contract by which he
contributed assets to the amount of half million to
save the company from insolvency. This sum is
made up of credits of $4,000 per month for seven
months and S1G,537 for the last month, June. 1871
NEWSPAPER INTERVIEW RULED OUT.
Charles w. Dyar, of the Boston GLOBE, was brought
forward by the prosecution to testify to statements
by Wiggn in January last regarding the conspiracy.
and which were printed in that paper in the form Of
ments being admitted in evidence. on the ground
that the statement Of coconspirator could not be
the conspiracy had terminated. The Court ruled for
the defence and Dyar retired On the same matter
the prosecution also had in reserve T. s Sears at the
time Of the interview city editor of the Globe but now
publisher at st. Adams, VT.
COMMISSIONER sEYMoURs TESTIMONY.
The testimony of .ex-Chief Justice Origen s. Sey
mour was important, as he was chairman OF the
special commission appointed by the Legislature to
examine the life insurance companies of the State
and his commission had made the report which re-
suited eventually in the overthrow OF the Furber
management of the Charter Oak. During his tcsh-
mony the prosecution succeeded after having failed
once or twice previously, in getting in evidence
the report of the condition of the company
the 31st of December 1876, fur
nished to the State Insurance Department by
the accused officers OF the institution. The prose-
cuton also presented schedule OF real estate assets
which had been prepared for the use Of the commits
sion while the investigation in progress. The
witness examined until the time of adjournment
to the differences between the values placed upon
the properties by the accused and the values placed
upon the same by appraisers employed by the COM
mission, these differences in many instances being
very large. The company appears to have estimated
the properties at their cost whereas the appraisals
were made In 1877, when values had deprecated.