Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-11-25
Legislature Should Commend
the Fair to Texas People.
THE ALIEN LAND LAW CASE.
Why Texans are Interested in the Charges
Made Against the New York Life.
The Figure Ignite Is to Cut q Fuel De-
ponds Upon Its Commercial Value.
1t Must be Demonstrated to
be Cheaper than Coal.


AUSTIN, TEX, Nov. 4.-CommisSioIer
Hollingsworth, whose business in New
York for the past six weeks was TO inquire
into the condition of the New York life in
surance company, and learn if possible the
validity of the charges preferred against
the managers of it by New York paper,
states that the commissioner OF insurance
for the state of New York has been en-
gagged for the past five months with force
of about thirty clerks Investigating as to the
financial condition of the company and the
charges, and that he will not conclude be-
fore the middle OF December. His report
may be looked for about January l. These
charges We're preferred about six months
ago against the company by the New York
Times, and are grave and far-reaching in
character, involving bad management, cor
ruption, etc. Readers of the Times are
familiar with them. The New York Life
does large business in Texas. having col
lected last year, according to the official re-
port, s5l9,OG2. 10 in premiums. The number
of policies which it holds in this state is
1880, aggregating S13,656,694, or more than
in any other Southern state. In amount of
policies held by the Life, Texas RANKS
seventh in the Union, and as Mr.. Holdings
worth says. is not equaled by any foreign
country in which the company
does business The six states that outrank
her are New York, Pennsylvania, Massa-
chUsetts. Ohio, Illinois and Missouri.
While the Life collected last year more
than $500, 900 in premiums from residents
of this state, it paid in losses TO them
sos, 957. In consideration of the large bus
mess done by the company in Texas, the
commissioner of Insurance thought it his
duty TO investigate for himself, as well
as ne could, its actual condition in
view OF the grave charges brought against
it. At present, and in advance of the Of
fetal report of the New York commits
sioner, who is making thorough and eX-
haustiye examination, MIR. HollingSworth
does not feel authorized to speak about the
affairs of the company further than to say
that it is solven: and in a fairly good con-
ditiOn. AS TO the validity of the charges
preferred against the management, ne has
nothing to say at present. That will DE
discussed fully III the report of the New
York commissioner. Ii the charges shall
be sustained by the commissioner, the
present trustees and president may or may
not resign. No one can tell. They
may prefer to hold on, in
which case, it is possible.
says Mr.. Hollingsworth, that the state of
New York will, through the attorney-gen-
eral, move against them But that or any
other action that may be taken is contin-
gent on the character of the commissioners
report. AS every policy holder in the New
York Life has 4 vote at the election of pres
ident ana trustees, it behooyes those of
Texas, says Mr. Hollingsworth, to send
their proxies to some one in New York IN
order to vote them. should it become neces-
sary to do so through the resignation Or re-
moval OF the present board of managers.
whom their proxies may be sent. they can
get the NAMES of several, by writing to
Commissioner HOllingSworth, who will
cheerfully oblige them.