New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-06-14
ndy was sent to the Morgue.
THE GLOBE MUTUAL 'RECEIvERsHIP.

THE GLOBE MUTUAL RECElN EhSnll'
JAMES d. FISTS VIEWS ABOUT HIS APPOINTMENT
The RECEIVER TO DEVOTE HIS TINE MAINLY
TO HIS NEW DUTIES.
James ID. Fish. who was appointed receiver OF the
Globe Mutual Life Insurance Company by Justice
Westbrook, sent his bond for examination to Attor
ney-General SHOEMAKER a week ago, audit will be
presented to a Justice of the Supreme Court in tins
city for approval on Monday next. MI
Fish said that the first steps toward his selection as
receiver were taken without solicitation from him
and without his knowledge. He received private
dispatch asking him if he would accept the position,
and telling him to send recommendations OF leading
business men if he wished to obtain it. He at once
went 10 a few prominent bankers, and dispatch
was sent urging his appointment and signed by all
whom he had visited. Upon this appointment he had
furnished the required bond, with bondsmen OF I'M
impeachabe character and financial standing. lie
had taken no part in subsequent proceedings. lie
had seen by the newspapers that justice Lawrence
had vacated the order of his appointment, and had
subsequently revoked his own order. II he should
become receiver of the Globe Mutual
he pronosod TO devote his time to it
chiefly until it was settled; he should NOT
be a receiver by deputy. he had Informed the di-
rectors of the Marine National Bank, of which he
Is President, that he should give very little atten-
ZION to the bank for a time and they were satisfied
with the arrangement. lie had been its president
for nineteen years. and for The last few years 1t had
been very prosperous, having recovered entirely
from the heavy robbery by a bookkeeper few
years ago.
Nh Fish said that he was receiver of the Ieutonla
Savings Bank tie affairs of which had been nearly
cleared M and there was nothing to prevent his
giving nearly his entire time to the GLOBE Mutual.
He could not saw without examining the asSPtS OF
the company what course he should pursue, but he
should eudeavOr TO manage the assets 10 the best
interests of the policy holders.
heavy pOCy-hOldcT Of the company sald 10
TRIBUNE reporter yesterday that, IN his opinion,
fine trustees Ougt not to have asked for receiver,
as the company could have recovered under careful
management but, if il must be closed up, ne saw
no reason why It should not be done without delay
The assets were of such character that they could
months or years hence. His only objection to Mr..
Fish as receiver arose from doubt whether
he would give his personal attention TO
the duties of the Office. The secretary of the
company cOucuTrcd in these views except as TO the
real estate among the assets; that ne thOught
could not be sold at once under forced sale WITH
out great and unnecessary loss. He believed that
the company could have been saved. The policy
holders were willing to turn over 20 per cent OF the
present value of their policies 10 the company,
under an agreement that the real estate should
hc SET aside as a special fund from which to reim-
burse them as it increased in value. This would
have wiped ont the deficiency, and have been FAR
and honorable arrangement from which none could
have suffered loss or by which all would have sui-
fered i'm the same ratio. The cOmpany's real estate
IS he said in those parts of New YORK. and Brooklyn
where prices are steadily advancing, and 1t ought
not to be sold immediately. The other securities
can be sold Immediately, as well as at any time.