The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-03-23
BEN. NOrEs's OFFENCE.


benjamin Noyes, the President OF the
National Capitol Life Insurance Company. was
interviewed ly reporter for 'rHg Sun IN the
Newark Jail last evening. H. said tina, lic would
not furnish $4,000 bail; that he WIS ready for
trial. aud that his counsel would demand
that he be- tried ut the April term OF
the court. He understood. lie said. that
the prosecution were making efforts TO
induce J. II. Stcdwcll. President OF the
defunct New Jersey Mutual. 10 return to New
ark to testify In the suit He hoped that Stcd-
well would appear. but the last he had heard of
Stcdwcll he was in London. England Mr..
Moves said that he had prepared his answer TO
tho three indictments for conspiracy. perjury.
and fraud. found against him by the Essex
county Grand Jury for his connection with the
reinsurance of the New Jcrsry MUTUAL in the
National Capitol. H. viii ansWcr Ia tho iudict-
mont, throu h his counsel. ~ foN0ws:
TO the indictment ACCUSING him of ronsplring
with J. ". Stedwcll to d'irhud tho policy holders
Of tho NV Jcisry Mulunl. he answered that
Stdwcll wns authorized " tho Board Of
Direct RS ot the y " Jorsey Mutual io uegotigt"
proposed rginsurancr and not to Stedwell:
that St'dw-ll "Nh htcd 10 him schedules of the
Assets and Liabilities OF the Now jersey
beginning To- end Of the Transaction. aud which
St"dwoll said could not hc alt red; that he
never snw amy utrcr or director ~ the New
Jersey Mutual. nor had n'eTs on 10 soc any be-
s1cs st'iw" in the who, tran ,aciion. L,.oau-e
Stoiwrll was aNlnl 10y authority Of the Board
tract WIS mad" with Stedwcll in New
York on Jan. 20, 1871 ON tho bass
that II tr nss"is should provo to hc worth
In vlucnn amount equal t. the requisite re-
serve. then Tn" reinsurance would bc at the
ratr ~ luD cents on the dollar. on siN per
cont. has. =. an any reduction in value Ia in
volve "a corresponding reduction IN the rate oi
insurance: that the station nj Of MIR. Siedwell OF
the un certain amount ~ Depreciation from the
49, fti tn "a
for twenty days whether a contract would be-
entertained by Noycs; that whom rN-Gov. Pnr-
k'r WAS appointed rrrvivcr. after tn" transfer.
N',c. wrui" hin asking ~ conference in New
York 50 thnt they could decide upon plan for
Jrts'S mutual. under the advice OF Chancellor
Runyun: that conspiracy cannot be proved en-
crM St'dwrl purIur,s himself
ewcrcd: That h. testified before Police Justi.e
Jrssup. when he was IN jail in Newark 4 yenr
Mutual he had r'rrivod only n small portion,
ana such ns hc received were surrendered 10y
MS counsel TO Receiver Parker. ana such rs
were surrendered were all That he mad received
directly or indir" tly and that he received
them IN New York. huj not one cent in
the examination h'for" Justice Jc~sup. TINT he
r"rnll". tS. nhuut ms HAVING received S1JOOO
~ United stat : honds. AID s3a.uOO in ash. anl
'hm If There had been ho would hlyc denied
ever having received any. thui thr re,oIu
which he aign Il Tor these WAS written 10y St'd-
We'll ana did not conform 10 either
nor the contract maie, under it. AMI he
returned 1t t. St"dwell at once. with a
rHVu st TO write n r.eript for such assets and
su % only. = ho lNuy ~ ned that evening lJun.
20. 1870 rHrriyrd: that ~ lwell complained "
headache and added LIT II all ~ unit w.,
mot IN Newark and roinprt" the trans iion,
gni then sivo me ful recc.pt. tlN Noyes
iuisgi the 'e.tt hc had giNon. and had such
r"niii' me- 10 Si"dwcl That he never inquired If
II WAS DESTROYED.
10 the iuI 'tnrnt accusing him ~ frHul Mr.
N,vnr Viii answer; TuHt tn nNrInI hrtWrau
th' - and 2ih oi Januarg 1877. cmhraningtre.
whole lntrrcOur-, hrtwetn him and NtrdWcll
nothing had been SAID or susg' ~t.d hv Strl-
w"ll which in any degree impaired his cuun-
drnce IN Striwril and no pruposii!on~ ~
any Kind came from Mr. Stedwei which
were tainted with priyay. con'camont. tho
diversion oi property. ur urtJuiitiul 10 the m
forests "i the policy hpdr-. IN the perpetual on
OF their pplirI"r and ft"nIrnt oi their losses
On the col iffry. q pr nfrt 'ir uiar. signed hy
IN" rrin-urturf- g. IN" policy hol,i"ra. md
assuring t.m that rt"ir Interests Wou.d
b" prot. ted. The circular Vas not . 40
uui on account - DO" sudden upp,int-
m"nt ui "a rrriNor. In r.gHri IT, ihc.
.wn.~Ail-ni tr s19uNu Uuit.l state, hNnI=.
Mr. Ny ~, WIi if''"i D." ~a'-. ihHt they w"r,
rn'n IN. Ht au proved ly number. Ssri'- uinl
amount 90 10" ~" prNp' riy oi tine Cont % i.tu
ldi" ln~urnn " I 'mpuib. u- proved b h.iorrt ir
reirrr van Alien iiuu. =. ma honriul: h'f1Ir.
INN under fln ul IHnfunut uf ti" supreme
Court ~ N"w Nork IN january 1877.
Mr.. NnN"-. Nl"r''orr Dr. is that he cnn prove
,lS ,.l ini' 'n.r oi C,n rrh.y prnr5, auI
at hy IT,. .iIr'.l,r~o t.r y S Jnt0, Muiuu.
mud %" lNNy - uu irHr" every dNIur of t''
s,Hnio 20 t.,l ~ iff'- bonds ANA sluNlI 100 cash
iur Mairu tAc Prosecution un4l1 Ills receipt.