The New York herald., 1879-03-04
Globe, Knickerbocker, New York,
Metropolitan and Washington.
DEPARTMENT APPRAISALS.
Immense Blocks of Money Ad
vanced on Real Estate.
SOME RICH MORTGAGES.
Albany. March 3, 1879.


tions of the Messrs. Freeman from active direction
of the company has, however. postponed. if not en-
tirely dispensed with. such proceedings. His atten
ton to the matter called by Superintendent
Smyth. in letter enclosing the report of the
animation made by Deputy Superintendent Mccall.
Mr.. Smyth's letter as folows:-
issyMAsos DssAn1xrST; r, ;,As ALnAsY, Feb u, 1879
have the honor to call your attention to the accompany
on Of the
OF ars Of aGk h and report
have no power under the statute TO- to interfere in any
dca,ed by Mr. Deputy superintendent Mccall touching
arising from the spSSn
s discretion could dare DO
YoS @ oee ss naH good to the
Saaia
probably have held BY referee to be G
pany-a surplus was found jastifyiug company
on with its business TsfE
CHARGES OF RECKLESS MANAGEMENT
Deputy Superintendent McCslls report on the
affairs OF the Globe is very exhaustive and elab-
orate document, and under the heading Of "invest-
ments" it proceeds to speak of the company's real
estate and loans i'll the following terms:-
the cost ss from The to
ss % is Of % 70
% sna ss' s Of
% ns nS ssfs from Of
being less than one per cent on the prnepa From
count S. 54 g. and ss5io disSursed. therefore is
By
and an %o to regard % aae pes as @
$3.50 OoO less than the cost value The cause OF this great
the market. In this i is caused
tue has
Of any institution Of the state Of Now York record
real sstss osns ss Of os S Company
closed IS aSos siSo The difference
and S iSs Price re, Of the
ings not competed at time Of and adding The
The remainder of the report may be summed up
follows:--
Tho North loan. Darrah-Frseman loan, the BioyFrco
los. by The To%pkins
% IS ssSsS yss on its ss's * s
company At st Louis who owed the concern si1 g.
s sJ9s ssS sSaas LOUIS
fourth s,1eSs Ct 81 sspsssss shans"
cost OF prpsrsy is Valued now a, 5Sc BY
ppsss The Ss
because the propretor who kept variety show
Sery house. property Rassnssood arsrs,
r Ses ae sos r x
spplassrs ISsing iss7 sSs esSsas.aIs. sf tic Giops
holds good reports thus far received for 1875
THE GLOBES MORTGAGE LOANS.
As no less than 337 policies representing In
surance of S1s ZIG, to-day ahoat among the
customers of this life insurance company, 1t will be
interesting for them to exactly where the bulk Of
the loans made can be found and the nature of the
property encumbered by these loans. 1t will be seen
that the Globe has particular fondness for Ravens
wood property.
In the following list Of mortgages where only loans
of $4,000 and given. there in many in
appended two vauationshrst the valuations
made by Messrs. Laimbeer and Senator Thomas
Murphy. acting appraisers for the Insurance De-
partmcnt. which on fle in the department These
differ in many instances greatly from the company s
valuations. Wherever possible they here given
icy holders judge for themselves which arc cor
.imount Conpany's
Loaned. Description Of Property. Valuation.
$4,000, house and grounds, Throgg's Neck
department appraisal. s30.Oo0). $50 900
25UUU, house and grounds. Ravenswood. .l12 900
10000, Nos. 3G4 Canal, 1876 Spring and ll6 Cen
aaoS. e No ID; Hudso, st 4o9oo
10000. Nos. 67 and 69 Bleccker st. t....... Al 900
10000. house and grounds. Casteton, $. H.. $4,000
1900. llth av.. between 13Sth and 139th sts
1o0Oo second mortgage), Nos i ,315 and 1877
Pacihc st.. brooklyn department APP 80
1O0oU, No. 516 Madison av. av................ Gl 900
lUOU, NO ~ west 32d ST.. $1,000
"
ment appraisal. $4,000. Observation-Disclosures. 1900
29OUO No. ol East oath st. Al 900
loo 40 lots havenswood. 10000
1900, Schocs ST., between Union and Grand,
Brooklyn department appraisal, S5O.0J0) $4,000
$4,000. land between Walton. Joliet and Spring
sts..1Westchester department appraisal,
S3OO00). ...................... 10000
$1,000 Nos ITO and liz West both ST. New York 900
10O0D. house and ground, itavenswood. 900
$1,000. state Street Congregational Church,
Brooklyn department appraisal, S35, ,UOU.. AZ. 900
10.5O0. AZ lots. Long Island City 23, ,420
parlment appraisal s25, ,OO0l. ............ 30, 900
10000. 9th av. corner OF seth st New York. $50
1900. 81 lots. Long island City. .......... 2s 100
1000. factory. Commercial St. Newark lde-
partment appraisal. $4,000. 10000
i9ooo0. l22d and is3d ss and ith av...... 10000
10000. 115 lots, Long Island City ............ :
1900. mansion and grounds. Ravcnswobd... 45,5o0
$4,000, house and grounds. Rayenswood.... 45,VVJ
G0.OOO, building and ground. Union, n. J.
department appraisal, SGj,OUO). 100000
1900, house and grounds, Yonkers depart
inent appraisal. s2o,Ooo).. 1000
2oooo. building and ground. Phelpvlic, n. j..
10000, lots 5sth St. near broadway. $1,000
25.ooO. No los Grand ST.. New York. $4,000
lS.O0J, havenswood property. ty................. -
10000. Ravenswood property. ................ -
SIGNIFICANT DffFERENcEs 1 VALUATIONS.
In tho superintendent letter to the Attorney Gen.
eral, as given above. allusion Is made to tle
pany valuation OF certain property which valuation
continuance OF the coinpany's business The com
pany employed Messrs. Homer Morgan and L. II.
Ludlow. two well known Pine street brokers' and
the Insurance department.. as already stated, en-
poycd Thomas Murphy and william LAmbeer Not
withsanding the fact that there was a difference of
about $500 900 between the appraiscmcnts super
tntcndent Smyth accepted the Morgan and Ludlow
valuations. To give an illustration of different vau
atoms, all file in the Insurance Departnent 1
append lew of items In the loan placing
slic by side tho figures as given by tho company and
by the Insurance department -
LaimJe.r g MoryanG
Murphy, Lutlow
Amount Dept. Ialud- yulia-
Lvuaoi. fton. tion. Difference
$4,000 Lots corner 9th
av., lst st.. Brooklyn $4,000 $4,000 10000
l3SO37 Lots ON 12ld aud
t23d st.. 9Th and
sth ays.......;..... $4,000 is2.4oo 4O.4oo
220OO House and farm,
Yonkcrs. 10000 1I.OOO 1000
10000 Land Union Com
puny, SUO acrcs..... G5,OO0 $4,000 l5.UO
IL. IT