New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-07-23
STATEMENT OF AN EXAMINATION
CONNECTICUT MUTUAL LIFE
INSURANCE COMPANY.
INSURANCE Department.


r.,. n o,- ~ tho Revised Laws Of Connecticut re-
oros that the insurance commissioner shall at Toast
encs in three (now changed to four years WISH each
life insurance company Incorporated pS ''is '"'o'
Thoroughly examine its financial conuluon' anu as0'
tain bether It has complied with all the provisions
Of law. 49,, - g.. ,..
49,, oo,rnoorced nv the commits soner soon as his
,o, ranorts had been completed and issued But
oinc 70 the alarm created by the Moore dealcatoD at
INDIANAPOLIS and at the request OF the commissioner
~ another state and of the president Oh inc
II was determined TO anticipate the perou Set Ior uo
examinations and begin with the CohhecuoH' 1"u'u"
rtfe Insurance Company at once. Inc ONCE iorco
h,g engaged in duties that could not be postponed,
=. - rooossarv 10 secure additional assistance.
rqo sorviccs of William d. Whiting, OF New-fork,
nm .c,rarv we'll known for ability and experience In
making examinations were employed 10 take charge
90 the details and general supervision OF the "orhg
force Judge G. II. WEIGH, OF Iorrhg'oh' was IT,
,.ired IN examine the titles TO real estate calmeu
nv the company and similar services IN regard 10 INC
bonds and mortgages wero rendered by Messrs ii. E.
raintor Austin Branard. J. G. Calhoun, Z. a. BAL.
ford II ]. Ward, and by Judge Hiram Wiley, OF
East Haddam. .,,.
1be above together with Messrs. wilson, Alderman
and Church. in the clerical department Of the nVesga
ton. constituted the working force.
nh examination was commenced at the companys
nce in Hartford on March 5, 1889, and continued 70
dato The bonds and stocks were counted by the
commissioner and his chief assistant ana Verlhed.
Tho real estate owned together with such mor'gageu
property as showed any indication OF weakness as
collateral security to the loan thereon, was personally
,,td during the month Of June by tho commissioner
ord Mr. Whiting with the exception of about dozen
sc.ttercd ncces of small value, whose situation was
foo rcnoto 10 warrant tho delay which would have
been occasioned by a personal lnspecuoh' AS 10
These pieces. all but two of which were mortgaged
nroperties satisfactory evidence was obtained from
correspondence.
In appointing appraisers for the real estate, con-
s,tation was had with the Insurance departments OF
the States in which the properties were staleo' "heh-
ever such action practicable
The only exceptions in the States OF Wisconsin
and Michigan where the commissioners were not ac-
cesslbc and but few properties were owned.
The following gentlemen were selected; c. F.
sayles and c. f. Coffin, at Indianapolis; l. H. turner
and c. H. Gleason, at st. Louis; G. NJ Boguo, A. j.
AverilI Edmund Knauer and Pleasant Amick at chi
caro: H. Townsend at Milwaukee; Henry franck az
Grand Rapids; A. +. Leavitt and s. A Pumer' at DC
troit. r. H. waIbridge and L. S. Baumgardner, at
roledo. I c Mead and J. Il. Hills, at Hartford.
The examinations of titles were brought down from
tbe date of the deeds the company 10 the date Of
his examination by various local abstracors OF titles
No outstanding defects Of title have been discovered
with the exception of Of merely technical char
accr, and which may be easily cured.
The litigation concerning the Bruce Place lots has
been recently determined I'm favor OF the company
The suit regarding the Cameron property at st.
Louis has been appealed and stu outstanding; there
have been however, two cases decided in the lower
courts in favor Of the cOmpany's position and none
adverse TO It's ownership. The only other case in
volvIng real estate outstanding is the Windett mater
at Chicago This IS 50 clearly frivolous that the
parties have apparently abandoned further attempts
to push their claims.
Every facility asked was promptly afforded by the
companys officers, clerks ard agents In making this
investigation aud its methods of conducting Its ac-
counts and fling papers were such as TO minimize the
labor.
It was not discovered that the company IS violating
anv provisions of its charter the laws Of this state
in the management Of Ito business As TO its hnan-
cal condition. the object of the examination was pr-
mary 10 ascertain the assets and liabilities as OF the
31st Of December, 1888. The results follows
ASSETS