New-York tribune., 1879-03-13
LOCAL MISCELLANY.'
c1oRr MUTUAL REoRGANIZED.


srpprNnrR RY THE FREEMANs OF ALL CONTROL
or TIE NEUTRALITY-SUSPICIOUS. OF NEW d.
RRcroRs-sUcCEssFUL EFFORTS OF THE ArToR-
NRY-GRNERAI-
Though the purpose of Attorney-Genera'
schoonn,aker visit 10 this city has been we'll concealed
A. has been an open secret that 1t had some connection
with the Affairs OF the Globe Mutual Life Insurance
Company, the gross mismanagement OF when was eA
posed by the report OF Deputy Insurance Cosmslonoi
Mccall The action OF the trustees yesterday ana 'ne
resignation Of the Freemans from the board nave
placed the public in possession of the results OF MS
efforts TO save the company from the hands OF re-
ceiyer and thus secure the policy holders from IOsS IL
was his desire 70 put the company in charge OF han
agement integeuty and honestly In accord Win hnu
entertaining interests Of the poicyhoders' anu .o
arrangements which were concluded yesterday he be-
leyes will secure that result The Attorney-Genera
has in frequent consultation with MT mccall ana
with William Allen Butler who has been chosen counsel
for the company he has made himself thoroughly ac-
ouanted with the condition Of the company, ana mas
brought whatever influence his official position ana tner
past actions gave him 10 induce the Freemans 10 retire
from all control of the company
Attorney General schOonmaker. Deputy insurance
SUPERINTENDENT Mccall Frederick A. Freeman ana VIII
liam Allen Butler were in consultation Mt the once OF
the latter many hours Tuesday and Yesterday ana yes
teraay afternoon meeting OF the Board OF Trustees was
held at which the office Of president, held by fhny
ofhs former resignation trustee and the resgnatons
of Frederick A. Freeman aud John NJ Freeman as trus-
tees we're received and accepted The following geh'e
men were elected TO fiji vacancies GOuverneur Ilotson
in place Of g. p. sheldon; c. G. Franckyn In pae OF
J. NJ Freeman; j. A KerDochan in place OF f. A Ffee-
man F. A. French in place OF PLny Freemani u W.
Corlies in place of H. W. Curtss.
The board is now constituted as fOHo"s'
George Lorilsrd, yice;GrGSdednt 3se E. S.n,dd:.v
c. j. Woolsey, No. 10 West Ffiecnih,st.
Appleton Srirges Pier No - North River.
G. G. Franeklyn, No. Bo%dng ttnl.t Green:
T. A. French. Frat National Bank.
William sturgis No. l29 East seyentytrst
q. ". COres, No 66l2 Plnc-st.
J. G. HolDrOok No. 3l5 Broadway.
Richard Cox. No. $50 Broadway.
C. seton Lindsay, secretary.
This Board is chosen 10 hold Office until an election
for new Board. which will he held on March "a ss an
nOunced in advertisements rms is he nTst tlue III
the history Of the COMPANY which pocy-hoders have
been informed in THIS public manner OF approaching
election and heretofore the Information would have
been OF e value to them as the stock out OF
the entire capital of 500 0OOl held by tho Freeman
family. would not easily have been overrldden. az the
situation under the new arrangement and If they do
not obtain control of the company 1t Will be Their own
Mr. Butler said yesterday afternoon that Re and the
AtOrney-Ccneral were present at tDe meetng O! mo
Board OF Trustees, and tnat the arrangements then
made met with Mr.. Schoonmaker's approval. IL
was then stated that all the stockholders who had been
heard from assented to the proposal hat all me STOCK
placed the custody Of trust company lOr the pen
eft OF Globe Life Insurance Company, under such
provisions shall secure the permanent conrol OF me
afflrs OF the company III the interest OF tno
be arranged without delay, and the new Board of
Trustees propose enter at once upon an adinnlsra
and a thorough scrutiny Of every department the
business Mr.. Butler added: The arrangements thus
AttOrney-Genera and the Insurance Department as
well as Of those whose hose ,PrSpSr slf ifTs tn t6s in
favor tG.''''A " '-'