The sun. [volume] (New York [N.Y.]) 1833-1916, 1879-03-06

fragrant ami wil'u abuse u trust ON Nm" mari 81
IN" nh r'rs W. said company for their personal
EHt"d itlsilruiuu~ of tae company's hnoks
lhAt instead W PROMPT proceeding +, punish
stid lrUWrh's of trust the suld john 4. SWyth
Sup"rntvu l"nt Hs aforesaid. ty hls report of
May ~ loIS. concealed FROM th" publ tho
truth in regard tu The said rompnuv'- O. ,nditipn
anl th"rraVHr lHid no iuilh"r attention. To- 1t,
ulllt ugh well know uG tur same officers WIN
had been guilty "i The misuse ol Us funds and
oi lh' ilis H"uon OF it, hooks remained in
control OF ~ aud the said officers were Ivy the
said 0up"riuteudent allowed to manage SAID
contrary fur many months. under the sunrtiou
OF the INSURANCE Department. whereby a credit
/ was given said company aud ia management
cal"u'hted 10 mislcad pohcy holders and the
public
la proof OF the statement above specified md
n part ~ this specification. ! respectfully
refer your ENrrilcn'y tn said report Of the -tid
| Deputy Superintendent and OF the said John I.
/ Smyih. experimenting IA afor.said. ns CON
/ thinrd in Assembly document No. 40 of the
! session ~ lcf9. copy OF which Is herewith
| submitted.
i OF tive Insurance Department the said John T.
! Smyth has been guilty vi gross and culpnhle
eNtrdNuguir i'm the pay of the receivers. Hctua-
/ rirs. alorr"y- and employees; that in repre-
scntiu. u~t9i the EXPENSES at life Insurance ok
| hhiuWlohs nhN'.uy, me car1lssshess nrgle't'
/ and incnmrrirnry OF the said Superintendent.
/ been fixed M rates So high that the companies
| have seriously suffered financially ana been
! cmharrassrd 10y their piymrut And more pnr.
/ ticulHr.y ] charge that these incts were verified
| by the testimony before the Senate Of this State
a year ago, and bv facts and events which have
Specin alton Fourth-Thot the said John F.
/ Smyth. being u d gh State oil Hsr charged with
the supervision Of the Insurance o0mpnnirs
wrote or caused to I've written u letter to the
Officers OF the Globe Mutual Life Insurance
Company. inviting reply from the said OIL
Gers upon the suuIertoi tho bill then p"nding
IN the Lrgisl ature, in which the said john F.
Department WAS personally Interested, and
with the intent To affect the said measure.
although well knowing that the said officers
had been reported 10y his deputy Hs guilty Of
gross corruption IN the management OF the said
fac,s to be that the said john f. Smyth is Gully
| of MISCONDUCT mulipusAnce, nnd neglect Of
duty IN his oniea position; and that he IL IN
cnmuelen! and unit TO discharge the duties
thereof. ask your ENrrllency 10 recommend
TO the Senate his removal IRON oiilfess
AlBANY. March 1. 1879.
on and County 81 .llJapv.-Lemon Thomson
being duly sworn says that BE- has read the
foregoing charges. and knows tn" contents
thereof and that the same is true. except rs ~
the matters therein stated on Information and
belief. and as 10 these matters he believes them
sworn and subscribed before me this 4th day
W I. CoNNE1LY Notary Public.
. After n two hours discussion tho Senate
passed the SIX Per Cent Interest bill first strik-
ing out the section prohibiting tile borrower
, from paying or the lender from receiving any
The Governors annual message was again
under discussion. and senator Pomcroy under
v %ek in ' rSon 5% %o' 'so sSndSrSG &
. in trying 10 explain that he meant To- reply onI
I majority the people.
The oil appropriatinG 100000 for the new
{ ! Capitol became law last nisit without the ~E
nature of the Governor. by the expiration az tn
I ten days which 10. r. allowed Up consider hill
h ! rra hing him Will" the Legislature IL IN SOS
= sion. OF this sum 100000 is to pay for debit
r contracted In eX''ss of last years aJprourin
d ti0ns by the Capitol Commis-ioners. The Gov
1 ern0r filed to-day IN the onice Of the Sncretar'
OF state his reasons for not signing the bill an
MS protest against further legislation Of thi
Hc says that tho debt incurred by tho Com
' miss oners IS. in his opinion. in conflict witt
= the Constitution. Tho Attorney Genera! and
b majority OF the Capitol Commissioners. how
ever DISAGREE with him on this point. AMI ii
i Difference 90 their opinion he neither Signs no
!, 4 bill iniroluced By Mr. wags,aT provides
4 that every life insurance company create,
D.; under THIS act. ~ which me policy holders sha|
Il participate IN tho profits of the company an,
"a wherein. hy the charter thereof. the policy hold
err are entitled To- vote Tor trustees. each polio
u holder may cast such vote in person or 10
" proxy. anything in tho charter or bylaws "a
. surh e9mWny n N any act or ariS htreto.2r
1 passed t. the contrary n9twlthsiandinE ana u
! who's" life is insured in such company shall b
i competent and qualified - act as trust"e. Uny
thing in the charter or bylaws of any such com
r. pany or ia any at or acts heretofore PASSED 1
- th~ contrary noiwith-ianuins. ,..,,.,....l g.
a m li,.e. TO which was referred tho charge
at against the New York Mutual Life Insurauo
70 CImuuny m Inc matter OF me rebate pa
Adopi"d hy that company submitted "a rcpp
v this morning slened by all the members 81 q
Committee. They found IA" charge tnW M
Of company WIS expanding large sums oi inc o.
~ icy holders money for advertising and eouu-
foes uusustaiued that the rel Hts plan 100 Urn
le cipie WINS the same rs paving agents i1r 90"
w services that the trustees uct-i r.;ai.y un.i'
nj their charter IN uaDltug the rebate plan III
IN whils There j. diversity 81 opinion as 20 ii
80 wisdom or Justice 81 the rebate plan they do u
IN ! think i advisable t. enter uIOn an invests
H. ton o., the matter. and that tho company hn
l- ir,f abandoned tho ian he Committee n- Red
ly Doe discharged from thO lutther considerable
is ! Of the matter. winch was ugreHd u.
o ID o. "A
1: the Office 81 State Cummss loner iu Lunary. ui
le made long speech ia support Of IT, chargii
pc | that officer with grrat carnic~sno=S
be Mr. Bra1ley Introduced a tan which provid
n. that elevated railroad companies shall not
ld permitted 10 lay trucks SO thRt those OF one l
N shall cross those Of the other on the same grad
he