New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-02-15
along the upper Hudson the cutting season there Il
DISSATISFIED POLTCYHOLDER .
D1ssEysIoN IN THE RANKS OF THE LIFE UNION
INSURANCE COMPANY.


4 controversy IS pending between some OF tbs
member, OF the Life Union Insurance Company, at
No. pa Broadway, and its board OF directors WHICH
bids fair be a determined ore ana 10 emo II A'7"
ton meeting OF between 300 and 400 OF lhe CON-
pqny's memlers was held at the Astor House Decem-
Der % last to take action regarding the pfoposea
,lon Of consolidation with The Citizens Mutual LILO
rosur.nca Association This plan was defeated, but
i was voted at that time to choose committee OK
spvcn 10 investigate the affairs OF the company WHICH
should make its report at an adjourned meeting
THIS report was submitted saturday By the COM
rittce consisting of George E. Terry, James ~
gohlbeck. DC Borden wilmOt, Henry Ro,enheim'
Charles p Cheney, W. Parker smith and W. irving
rhayer, and printed copies have been sent I" the
rouhars Tho report severely crtsises the manage
nent OF the company, especially the transactions IN
connection with the prosposed absorption OIL INC Io
CITY Life Insurance Association Of Rochester Inc
Lie Union agreed TO pay the Flour olty company
so 90 for the transf of IT, business ~ the former
comuauy Eleven t.iou.and dollars tSas given III cash.
and notes 10 the value OF 1914 900. The Insurance
DEPARTMENT found the Rochester company ihso'eh''
and is affairs now In the hands OF receiver i-o
900 paid in Is lost At least The report sthtes 'ha'
tIc outstanding liabilities are considerable "hue ui'
resources tre nominal. In conclusion 1t Is recon-
ncnded that members transfer their policies to inc
Irted Life Insurance Association OF New.fork, which
agrees TO receive them on satisfactory terms
Iucins o. Robertson, vicepresdent OF the Lie
Union. when seen yesterday said the business would
not be transferred to the United Life OF any other
company Tho Life Union was asserted TO be on
s,nnd financial basis. lie declared the troubles were
iustlsatcd by Ralph Marden. former secretary Of the
company and that the present agitation was only Oh
the part OF n few disaiected members. lie said that
The committee Of seven shown In the report giVen
wore utterly Incapable q nsiderng quesons at Issue
IN mi, matter The Board Of Directors. he thought
were as able a body OF could be found IN this
CITY and represented large amounts Of properly.
Fifty members have signed a petition asking for .
meotinq to be called March - In compliance Win
Which the secretary Will doubtless issue call M
rtsot win DO made amend the bylaws 50 as 10 exle
liza present board Of directors and elect new oosiu,
which will wind up the affairs OF The company IAN, anu
di%'d, tnn reserve fund among tho members, ms
n,von nj viii be vigorously opposed by tile directors
and their followers. 81. ,. - 100
members, a reserve fuud VI @aJ,OVO ana has OI'staiu
ins pollric, T. the value Of between SIX ana sven
millIu- 'I!e directors are Joseph +. BALDWIN, T., D.
Chnnlherlan seymour Dexter smith {. Wooi% S,o.
N = Walker W If. Law. Ralph harden, j. ): So0per,
", r"r,.s + l. Winans L. II. Walton. j. ". Wilson
nnb Iurius o. bcrs son. The Oitc - arr; President,
" II Law vice pre-, dent, Luclu, g. h0oeglsOh' seer"
INV T. 4 Ninan, treasurer, Il. I. Burke.