The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-06-30
BurINo LIFE INSURANCE CLAIMS.
Circulars that .-e Received by PeNey Ho,a-
era In uroken C.ripa.ies.

Complaints have reached THE SUN that
tho unfortunate policy holders of tho Asbury
and the American Popular Lifo Insurance COM
panies receive many circulars, Offering to pur-
chase their claims for ridiculously small sums.
and cxaggcrating tho difficulties in the wav Of
early settlement of the affairs OF those broken
institutions Receiver Stout Of the Asbury says
that ho was appointed in October. 1874. and
gave bonds to perform the duties without paw.
He demanded OF the Superintendent of the In
slrencc Department the tl9O.OUO that had been
drpositsd according to law. to secure tho policy
holders. The superintendent PROMISED to give
him the money, but aiterward refused. although
there have been several orders OF courts aud "a
special act OF the Legislature ordering him to
do 40. Tho last order was Issued by Judge Don
ohue in MAY. under which tho policy holders
Go por cont and Mr. Stout thinks thcre would
hayc boon surplus Tor another dividend aiter
defruying all legal expenses. Tho ATTORNEY
Months will clapsr before settlement Of the
dispute. can be reached. and In the mean limo
sH5c6o6 9 to- bs dtdeS f among no item and thS
contest is ~ ~ who shall di-burse the money.
Tho Insurance Department Is making The As;
bury case q test. and on the result will depend
tho disposition 81 a large amount ~ money i'm
ilarly in it, keeping. Mr.. Stout advises. policy
holders not to accept the offer Of ChaA. J. Hart
mann. on anybody else who tries 20 buy for
1918 a claim worth 1900. II 1t is worth any
Mr. Hartmann says that Of course the policies
are worth moro than he offers. or he would not
buy them. Ilo proposes to make money by
buying NJ Ne low price as he can the policies ~
those who cannot afford 10 wait .for. The courts,
or who do not ARE 10 run the risk OF having all
the assCts eaten up by litigation. He offers
respectable references as Ia his business rcla-
tons. and denies having triod to frighton the
policy holders rs TO the time II will require, 20
circulars soliciting the assignment Of claims IN
the American Popular to him, or To- the Lifc In
surancc Intelligence Bureau he says that he l.
choose
Recover displayed at his uf1lce. he says that
Il man there u receiver ~ a large estate.
Many circul lrs have boon sent ont 10y Ira ID.
Warren. " lnrncd. Warren Eheredgc. Of
Ameri' an Popular 20 place their rlnims In his
lands. He was appointed n referee To- take
testimony on nr. Lambert inducing policy hold
err, to takn Out ucW policies and surrender their
Lambert had deceived the policy holders. He
has enclosed copies or The result of his official
action A. rcferrc go policy holders, who haN"
also rec ivcl Ms priNniH circular calling FOR AN
assignment OF claims To- him a. alscut. In one
case. az least % claim was sent to- him under the
Impression that hc WIS the receiver. although
i- ON 'ial rllti ,m Go the company Dcus1d with
VI rerot r. rlicr'e. His firm has charge ot
Tho receiver of tho American Popular j. L. T.
Lawrence of Wall str'et. who has not made
li- report. lie j. said 10 have about s2j,uuu -
AS ni-. which. added tptAr fluu.u0u u the hands
~ the lnsuranc" Department. would make n
considerable dividend for the policy holders .
hut deilv j. CAUSED ly the question involved IN
TIE Ashury controversy. Whether the depart
iicnt ur tho .coiyer shall dishurse the money.
Surprise has been man fo-ted that claim agents
can otfAin tn names ~ policy holders for the
furpuS" 81 Fostering them with circulars They
tre lists That az" in thh County Clerk office.
which anybody eau have By paying the custom