The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-01-28
BEN. NOYES'S INSURANCE CO.
hrs CHECK nook SHOWING WHERE
$4,000 OF ITS CASH WENT.

$4,000 OF ITS CASH WENT.
The Vigorous Fight In the Connectlcut LegIs-
lature of 1875 in the Effort to Repeal
It's Charter-whnt the Receiver Found.
New HAVEN, Jan. 27.-Talcott II. Russell,
the receiver Of the National Capital Life Insur-
ance Company. has discovered one Of Ben.
Noyess check books. with stubs attached which
show. 1t Ia alleged. payments in 1875 amounting
TO $50. 900. made to persons who were in that
year members OF the Connecticut Legislature.
1t was asserted during that session Of the Leg
islature that Noyes's agents were not combining
themselves to argument in the lobby. and many
OF the best informed men in Hartford believed
that money was being used by Noyes to prevent
the Legislature from repeating the charter. but
there was never enough proof Of 1t to Justify an
open charge.
The question OF the forfeiture OF the charter
Of Noyes's company. for he was the brains and
absolute dictator Of II. then known as the Amer
lean National Life and Trust Company Of New
Haven. promised. when the Legislature came
together to be one OF the most important OF the
session. Insurance Commissioner Stedman
had pronounced the concern bankrupt. and In
sisted that the policy Of Noyes was to freeze out
the policy holders. and then divide up the
assets among a half dozen stockholders. The
assets were worth scheming for There were
tlVO.OVO IN cdbu utpO5lleu Wlln lne
Department OF New York and there was a large
granite building in New Haven. one Of the most
imposing blocks In the city. But Commits
sioner Stedman. in report to the Legislature.
said thnt Connecticut ought not 10 give its pro-
lection TO any insurance company that was so
thorouRhly pankTnpt as thisr @ ana whost poiley
do was TO void the charter, wind the company
up. and pay back to the policy holders all that
could be secured Tor them.
Ben Noyes was in Hartford early in the ses-
sion; He has been known for years IN Con-
necticut as fighter who never would acknowl-
| edge defeat. and he said in the lobbies u tho
| hotel and Capitol that he would show the legis-
lators that his company was sound. its business
| legitimate. and that Commissioner Stedman
| was actuated by a personal spite in urging tho
forfeiture OF the charter Then there began
| contest that for pertlnacty. excitement. and
| bad feeling. had not been eQualed since the
| strife over the abolition Of the semi capital at
New Haven. The make up OF the Insurance
| Committee fingered upon this issue. and after
| It was announced II WIS seen tnat a majority
sessions. Commissioner Stedman. with ex-
l perts. testified. He claimed that there WIS a
deficiency OF several hundred thousand dollars
| and gave figures and expert testimony TO show
| that he was right
Noyes. with a strong corps Of lawyers and lob
| byists. was on the ground early and late. He
seemed never 10 sleep He always had "A piausi-
ble answer for the inqusitve legislator, and
was always ready to make an appointment to
talk over the mHtter a; any hour OF the day or
| night; He announced that he should take the
HusS2h 70 20 'h1 1 II sne , ISSUE M pr2vrI va
n tho State courts he would go 10 the United
States Supreme Court His friends say he
| Col. Dexter X. Wright. now Speaker OF the
| lower House. and there were a dozen lawyers
and professional lobbyists at work all the time.
| The Committee reported hill 10 wind W the
company and repeal the charter. unless the de-
ncirncy in the assets WA made good BY Sept. !,
and full reinsurance reserve was also provided
| upon policies then in force.
Then began the most desperate kind OF a
| battle. Noyes and his agents were TO be seen
| in the lobby hurryng hither and thither: cnl-
| ing out members; riding home with them con-
| ndentially, Then II was that there begun TO be
| whispered suggestions that Noyes's check book
was open. On July IA. tho bill came up in the
| Senate Both sides were confident. or pretended
to be. Noyrs claimed that there would be u tic
in the Senate. and that the President would
vote against repeal. but the bill WIS passed by n
| majority Of two. In the House the battle was
| fought over. and the influence Of Noy~s and his
loboy was SO plainly seen that there were errgt
| Commissioner Stedman was confident when
the session opened that the vote to repeal
But there were sudden and unexplqin-
Sne changes One member who had
OF Noyes within twenty-four hours after talking
80 vindictlvely Of the company and Its methods
OF doing business. stood up IN his place aud
said that he should vote against the b II to lor-
felt the charter There were many other con-
versions equally sudden and uneXp'ainahle.
But the bill passed finally by a narrow margin.
Had Noyes accepted thls verdict he would not
now be in the New Jersey State prison. But
he made such a determined fight before the two
Judges Of the Superior Court who were au-
pointed as referees 10 see whether the dc.
hciency was made up in the time specined hy
the bill, that he practically won his case. They
decided that there was a deficiency but 50 small
that Moves I is now asserted by system OF
borrowing checks. in which he was an adept.
WIS able to make 1t appear that It had been
made up
Knowing that Commissioner Stedman would
make new application 10 the Legislature NJ
the following session, Noyes prepared 10 get
his company out Of the reach OF the Insurance
Department. He began his negotiations with
the New Jersey Mutual Life which resulted in
his conviction at Newark. last year. Of conspir-
acy 10 defraud. for which he is now serving a
sentence OF eighteen months at Trenton.
Noyes's arrest in Washington caused sonieeX-
element He claimed that he was kid
napped. Alter he was indicted. New
York aud New, Haven. Once they got
bail He felt safe in New York and
Connecticut. and New Jersey authorities still
feel hardly toward Coy. Robinson for not help
ing them apprehend Noyrs. He was in Wash
ington arranging for the transfer OF his COM
pany TO the National Capital OF that city which
Connecticut Insurance Department. when he
WAS arrested by New Jersey officers who had
shadowed him. With Noyrs in lail. the energy
and brain OF the New Haven Company were
gone. and Il speedily went INTO the hands Of
Talrott II Russell, prominent lawyer OF New
OF the company In Washington. and this Mr..
Russell recently repleyied. Among the books
and papers he found this check book with tho
stubs. showing whore 100000 went during the
great fight before the Legislature in 1875.
Mr.. Russell refuses To make public the names
that are in the stubs. but there would not be
great difficulty in guessing some OF them.