New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1882-03-25
THE WAYS or RECEIYERS.

When tie Senate Committee on Insurance,
which is investigating the transactions OF receivers Oh
insovent life Insurance companies resumed its sessions
yesterday the Metropolitan Hotel only three OF ts
seven members prescnt-SenatOrs Kiernan, TITUS
and Koch Mr. Titus conducted the examination. G. IL
Chase formerly OF the Stock Exchange firm of Chase
& Atkins through which, 1t has been testified Receiver
Person OF the North America and other insovent lie
insurance companies speculaied in stocks with the
moneys held by him receiver was asked regarding
the iac les which ne supplied to a clerk Of the commit
tee in overlooking the correspondence of the firm durin
the lime when MIR. Pierson was its customer
lyon supplied him with letters" Mr.. Titus said;
lyon only thirty forty tin boxes in wic
all the letters were kepti"
"Ycs, sir" replied the witness
ais that all you did to facilitate his examination y
"That was all ! did at the time. Tie letters run
through four years and contained in don't know
how many boxes. The clerk then engaged IN exam
ming our egers and thought it best to let hin do one
thing at time"
The witness denied that MI Pierson had an share IN
the profits the firm in any way whatever Samuel IL
Kissam senior partner Of the firm Of Kissam Whitne
Co. the successors OF Chase ATKINS ais" gave INC
some general testimony.
Charles j. Hartmann. Of the " Insurance Intelligence
Bureau" which collected and bought many OF the
claims policy holders in the various suspended
insurance comDauies made statement with
regard to some previous testimony of Raphael j.
Moses IT. counsel for Intervening polcyholders in mary
cases He said that the Stake policy, with an actuarial
valuation Of Ss26 which he had bought for $780, was
disputed claim at the of his he witness's) purchase
Of H. and the risk of adverse decision of the
Court which would have rendered the policy of no value
He denied that had any understanding with the
different receivers regarding the claims which he bought
from policy holders in the suspended companies He
knew nothing Of circulars sent out by ke-
ceiver Wickla,n Of the Security Com
pany, informing policy-hoders that they would
be dealt with directly and of his afterward refusing TO
do hi. when he learned in certain that Mr. HAT
mann had aimed powers Of attorney from the claim
ants The witness refused under advice OF COUNSEL 10
answer many questions OF ne committee teTpeclnig 1ie
clerks and the attorneys whom he had employed IA M
business the ground that the questions related sotH
to ms personal affairs MI Hartmann was asked Whethfr
in certain m which MS client nau NlIhula WI Dls
mower OF attorney he had not lcquested Recover NcA-
ham not u pay the policy holders claim until after ls
QIartmannal fees had been pIL Tue NltHess couI~
r.lncu,b- nothing about tIe matter .
considerable amusement caused by statement
which WAS made dramatically under oalh by uaicI
Icamys statement that on Thursday he had Onercd
10 sell an unsettled claim Of policy der OF the Con
Int MT Hartmann had refused 10 buy it. y good deal
of disalpninment caused to the committee, b.
cause as one OF the members put IT, We thought Wheh
Leany began 10 talk we were gong 10 stlkc Soo' coc
0! a badly-pnndered polcyhOder"
Henry \. Whitney, OF Kissan. whitney CO., was e1-
amncd regarding Receiver TleIsOus lIduSdctiohs Win
his tirm and its predecessors. -.
Mr.. Titus-Doyou know of any special account Kept
by YOUR firm with Mr. PiersOn as special partner
MIR. Whimey-NO sir; do uot ,
MIR Tus--Me, yodr DOCKS snow the existence oi SUCH
account; perhaps you are not aware , Si H. . ,+o,
Raphael J. Moses ir., recalled test1ned 10 suDstah-
tally the facts winch the committee heard week ago
when Titus nos present inc "1thess vi,
itt having received special fee from the CnNcisai
Lie Insurance Company, Just before its insolvency On
the condition thai, II particular claim which he was
then advocating settled lie would not " turn IOuhu
The next day and bring another similar suit.
IAe committee viii have another meeting To-Day