New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1879-03-08

on Wednesday last 1t was determined to consider both
the charges aud the reply on "Wednesday next. Mr.
smyths reply III part as follows:
Insurance DEPARTMNT,
ALBANY, March u, 1879. !
To N. Honorable he Senate Of The sat " Ior, York:
Tho undersigned, joan f. -myth, superintendent OF
10 th" charges against him, made 10 tho Governor BY
Lemon Thomson, ami transmit ed TO the Senate by
through the newspapers. that the statement 10 the FIRST
specification that The superintendent reported to the
kftoIn.y-G general the Atlantic Mutual Lie Insurance
Company inSOivrut when solvent and that said COM
pury wax sale ana well managed company, capable
ofLieeting every claim demand upon It ~ the time,
The Deputy superintendent after an e1aini-
nation Of this company IN April, ISL reported The
company deficient regards pollcy-hodcrs. SllO3s5,
otiDtrn5rif addressed the roll1vfng Letter Iuefe
Nh. smyth quotes formal rrquestl Tni- demand FOR
the restoration Of the money mentioned IL this letter
not being complied with, the superintendent notified
the Attorney Genera. VINO took proceedings winch re-
1Dc undersigned. instead OF amPhiying on The fseis
touching The various tias and legal proceedings which
mad in court Ia connection WIN tins application
OF the Attorney eneral, submits ne Ioio"hg ol1h"n
delivered by Nj. Ju-tcc WcslbrDCk alter fuil tria
ana argument referred To IN sad specI1cauon
peJsal OF 1t VIII sho" how false an impre"
sion Of thai opinion n given by the extracts, and
how uuiustifaoc Is the statement OF Mr.. Thomson or
the Governor mat thr ia - upon Whieh 'he charges are
based clearly established ~ legal proceedings 10
which The superintendent was Riparty Here follows
the fuil teHi ni Ju7c' Nostol"oAs cAtehded OPINION
upon motion Restore The assets and management
Of the company To- The stockholders The Judge denied
the notion and gives fuiI history OF tic Iaton ahd
fully susttnS tho pos. non and action Of the DCpar-
opinion by judge WrstDrOOk, denying iho apgIi-
cation Of tho stockholders tn have the assets
the General Term OF Il supreme court of the third
Department ON Toe argument OF the appeal the snpc-
mat OF The decision q the supreme Court aud
General Term OF the supreme Court and Court Of Ap
pca.s, he unwilling 10 take the responHuuty II
c0rscntHg to suoh restoration until aftcra thorough
cxa,1nallon Of it, assets aud hihhues The Genera!
Term, composed or Justices Learned, IOardm4n ana
no ticp IN FrbrnSTv Is3, .n me atto
SCI .
tins decision Was rendered only a few days since
[Mr symth her gives in rul the opinion In question
winch says: " The past management Of the company
shows II tobe UNIT 10 control me properly The difsc-
loaned mouey 10 the yice-presdent on h maj ydu.!
security, by kecPug deposit Ia HI uiiyiaual bank
The balance such loan was about Slls.OoO, and M
remained Unsecured 70 tho extent of about S96Oo
when the company passed into the receivers hands.
Tie company offered the opportunity before tc
ceiver was aopoiuted oi continuing business on payns
E $4,000 Iury promised 10 do his ana utterly ed
Ancr the appointment Of the receiver they attempted
to PAT mo company mo bankruptcy. Beng dctateu I'D
tals hey have caused all possible delay to the AFFAIR." h}
appealing from eycrr order that has been gran 'edI
The Undersigned "ou'd also ieIei the senate 10 Us
action at the last session III refusing To restore the
company 90 rs assets ana life By defeating u for
that purpose entitled An act to enable the Atlantic
MuOIdl Lie Insurance Company, OF Albany y. y, to
resume aud prosecute lie business" THIS bill de-
feated by large laJoit Ailri il prcSen tLenI 10
the senate al the facts that are contained ~ The
charges of said THOMSON
Inc Undersigned. in reply to the second specification,
state. that he complaint made against him ir~ not
I IT, H. eeer Of The Go6 Mutual i, .arance
Company nas no foundation, for the reason that no
~ punish breach 81 trust. 10 remove ofrals ot
auv company dictate changes IA ia cement
Inc oI, u1 ser pos-c,sed uy The SupcIntcudrutl u
the language the Jaw, that II upon examination Of
Oamusl, be finds that the Asrts of such company De-
INSULT cut 10 rrIusurc tue outstanding risks, he shall
communicate the fact To the Attorney GenrraL" Inc
report made 10, the DEPUTY peuujeudcnt of hr exam
nation INFO the At.ntlc Mutual Life Insurance toi.
pauV showed Of trust AaT to those reported
by lIm 80 OF the GLOBE VI itual Life Company
but the Superint .udrut csud not act upon such
hIht Ia any moro than ihr latter, be
cause Of lacL Of power bi Il now pending IN the
Neu.c hayil passed the Assembly which proposes 10
tc the superintendent authority IA such Cases
NotWthsandtur this want ~ power under tie law 10
enforce change OF management IN the Globe Mutual,
The Superintendent b.oukut abDnt partial cnange III
ia management and procured from the accredited c"-
sci Of company the promise oi entire change,
appears by the report IN Assembly Document 80. 40,
already referred 10.
Ihe same chance afforded 70 the Atlantic Nh
tnal Life Insurance Company restore funds wrong
fully taken from that company, was given u the 6oue
MuiaL Lie C0MlAny BY LlA lcnllLt,