Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1883-08-09
THAT ms URANCE STORY.
A Letter From an officer 2nd a Clip
ping From ssTruth.''

1 pInk FROM SIruth.'
The JOURNAL last week publishe
the substance Of a clipping from tn
Brooklyn Eagle, to the effect that on
Abel G. Hunt wGs about to apply to tn
Attorney General to wind up the Mutua
Reserve Fund Association of that city OF
the ground that 1t was an insolvent aut
fraudulent concern. The STATE JoURNA
further stated that the local agent of tn
life insurance company in question, tn,
late J. X. Sutterley, WAS too ill to be in
tsrviewed regarding the Brooklyn Eagl
| article.
Since the death of Mr.. Suttarley, DR.. s
l.. West OF this oity has received the fol
lowing in reply to q letter of inquiry
written by him relative to the allegations
Aforesaid:
MUTUAL RESERVE FUND LIFE ASSOCIATION,
NEW York, Aug. 8, 1855. l.. West, M. d.,
Wilmington, DetdUdre-DEAR SIR:-We note
your statement in relation to the rumor
through the public press regarding our asso-
citation having passed in the han Is of re-
oeiver.
The rumor originated through the ill-ad-
vised actions OF a discharged employe who
sought to vent his spleen upon the company,
but whose efforts in that direction have re-
coLed upon himself.
We enclose you clipping published in the
papers of this city which will throw light
upon the subject. Very truly yours,
G.. f. Porter,
Third Vice-President.
The clipping enclosed is from the New
York Truth of two or three days ago, and
sets forth, first, that A. C. Hunt obtained
an order for the examination of the
Secretary Of the Mutual Reserve Fund
Association. On the return of this order
in special term of the Brooklyn Supreme
Court on Monday last, Mr.. Taylor, ooun.
Sci for the company, moved to vaoate the
same, upon the grounds that the suit
was begun by discharged employe with
the view of bringing the association into
disrepute, that the plaintiff in his COM
plant did not allege that the association
owed him anything, nor was there an alle-
CATION by the plaintiff Of the fulfillmept OF
the contract on his part, which the judg-
ment demanded must be set forth in the
complaint.
While demArrring to the order how
ever, as unwarranted and irregular, Mr..
Taylor presented afidsvits Of K. B.
Harper, president of the association, and
James II. Brown, chief bookkeeper, that
full account up to January 1st, 1888,
had bsen rendered to plaintiff and
accepted and agreed to by him, and
voluntarily rendered the account down to
July I'd, showing that the plaintiff owes
the defendant $159 66. The affidavit of
Frederick 7. Beamin, the secretary stated
that the account was never refused to
the plaintiff, and 1t was now ready and
rendered. The plaintiff never demanded
any money from the defendant which has
not been paid. The plaintiff further
knew what business he had done and
what commissions he was to receive and
there WAS no need OF any examination of
the secretary.
Judge Cullen said stay must of course,
be vacated as there was no reason for
ever having procured it. His Honor
directed the defendant to take the account
rendered, and vacated the order and ex-
animation with costs.
Mr.. Taylor had in court a letter from
Mr.. Sheppard Homans, consulting
actuary, written to President Harper on
December 9th, 1882, stating that he had
examined the plens of the business of
the association and approving them, and
congratulating 1t on its great practical
success.
Mr.. Taylor had also in his possession
letter from Mr.. Stephen English to the
superintendent Of the insurance depart
ment, making certain Representations
against the defendant, and also a letter
from the superintendent to President
Harper and the latter's reply thereto.
The superintendent's first letter WAS like
wise shown, thanking President Harper
for his prompt and satisfactory letter and
explanation. There was also the GER
tifcate OF o. d. Baldwin, president Of
the Fourth National Bank of New York,
stating that the association was in excel
lent financial condition, that its books
were correctly kept and that over $65, 200
in cash was on deposit.
Upon the information contsined in the
foregoing DR.. West expressed himself
completely Satisfied OF the associations
solvsncy and reliability.