New-York tribune., 1880-02-15
pURsUEiEG INSURANCE REcEUERS.

fTnOW TIE REGULAR CORRESPONDENT or THE rRIBUNE.l
ALBANY. Feb. 14.-AttOrney-Gcn Ward
receives daily letters OF inquiry regarding the progress
of his search for information about the way the affairs
iusOlyent insurance companies and saylngs banks
have been managed by receivers since they assumed
their Evidently many OF these inqnrers are com
plctey ia The dark regarding the disposition thus far
made OF property belonging to bankrupt companies In
which they mad investments. oiheis are puzzled about
the meaning Of by the TO ex
plain tho present financial condition of the companies
81 me n that they havo been treated fairly IN
the disposition OF the assets OF the companies.
Mr. ward u also informed by these correspondents
that ne began hs investigation the agents OF some
unknown persons have been work trying 10 buy up
the policies at low rates OF poicyhoders in the inso
vent companies. The correspondents have asked Nh
Wards advice about the course to pursue "hen
such offers are made. He has invariably replied that
they should refuse accept such proer', ana wat pa
iently for The payment OF their claims. Some OF the
writers encourage Mr. Ward proceed In HIS investiga
ton distinguished POLITICAL In the Western part OF
the State writes:
Permit me TO congratulate yOu upon your action II
looking iAto the affairs OF the defunct lie insurance
rompanes IN this stute you that your course
has struck popular chord IN the hearts OF the people
result IN anything but good In my opiblon
their pow.rs TO snric themselves aud frnds at
pcnsc Of the policy holders, ana trust yoG Nh push
many thousands OF dollars due the people OF this town
fan they have been unable to get any satisao
tiOn from the rcCycr who seem tO be doing All III ttr
power 10 keep the property IN their own hands.
Another victim Of An insurance company. writes;
As victim NJ one Of the worst swindlcs Of the day
| read with Joy In tO-days TRIBUNE of the steps you
had taken toward procuring the passage Of law 10y
whinh poicyholders Ia dsfunot Insurance companies
nnd cormoranf attorneys The blind Gpddess Of Justice
must surely be extending over you her hands In bless
ing which thousands OF poor persons like
self viii heartily JON. In August, 1876 my son nni
myself surrendered our policies aud last receipts TO the
fhe I.uaf af
than three aud half years received the first liv-
dend. Ny soma policy was declared "worlhlcs-' he
cause it was term pOcy. whatever that may mean
As left the office feg my helpiessness through gnOr
Of the laws devious way. n9d my poverty not per
mt ug OF counsel could not he think
tha there Justice FOR tue poor man The article
IN to-days mhuNk mas snGou,aEru me 10 nope 'au n
TIE hard earned mony that paid son's policy the
this policy promptly paid til the failure Of the
pnny. Why. then, should my policy b good and my
sons wOrthltssf
Another policy hoeer writes:
have just read the statement Of your action In behalf
povr helpless policy IN broken Insurance
companies; aud wish most heartily 10 tbahk You
was 80 foolish To take "a policy IN the - -- HE
Insurance company several years ago. Although that
company dd "a small business II has taken tnree
10 close s siaiisi ana MOI one penny mas Ocen
received by way OF dividend have hoard tat tho de-
assets. A broker ~ New-Ycrk has been very anxious
TO buy my poGy M p, per Snd CSY br %" ohe ie
70 nav not more than IL per cent; and
here was no telling when ms would do even that was
so as he bc assured that the payment would be
considerably than 10 per cent. and that the settle
m-nt WAS not far of would nO' have made the
offer DELAYS seem profitable 10 receivers; and we
kept waiting for while the reserve Is beidg con
sumed by referees.
An apparently very unfortunate policy-boder writes
Ivas insured ia the --- life insurance COM
many which became bankrupt IN 1877. The receiver
e0nprl each poney yhOlder % pay another prem um;
oihpneh he dld not pay any death why should
cnmpri us 10 pay any money into the
con,nanv when we had already been defrluded
by the regular ofcersf was insured for
II 500; and my premium was $50 3S per annum. Now
tbc receiver pays one $83 II IN settlement only
"a 40 more than paid after he got control OF the
cOUcrrnl
Another unfortunate writes:
Jhaye daughter IN Paris qualifying herself for the
ccnn,t0n of teacher OF French After forty years OF
Iusiess lie am compete ed 10 sell out my drug store
IN enable me 10 pay honest deots. have done this.
o iii have left Or my daughter registered policy
sor SIS 600 all paid up, in the bankrupt - Life
Insurlnce company. i see you intend TO push the
receIyers 10 an account. May God speed your effort