Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1892-02-14
NEW YORK LIFE.
Good Endorsements by Its Prominent Pol
ley Holders IN wheeling.


WHEELING, w. VA, Feb. 13, 1892.
1t is well known that for seven months
past the New York Life Insurance Com
pany has been bitterly assailed by some
of its former employees, and an intiuen-
| tial journal Of that city, charging the
Executive management with grave
crimes and citing the Trustees as &C
! cessories thereto.
The aid Of the Insurance Commission
er Of the State was invoked by the man
agement and his examination recently
completed has been spread before the
world.
When it is remembered that it re-
quired the united labors of thirty ex-
perts for over seven months, aided by as
many more skillful actuaries and ap-
praisers in various portions of the coun-
| try, as well as abroad, to accomplish
such task, some conception OF the OPP
erations of this vast corporation can be
obtained.
As the assault on the company was not
instigated by its members, it was spe-
| cially noteworthy that but few partici-
Pated in 1.-THE vast army Of nearly
100000 policy holders preferring to
await the commissioners verdict as TO
the safety OF their interests. The YER
dict has been given in their favor, and
we have the Commissioners warrant OF
substantial surplus of nearly fifteen
millions over all liabilities, which con-
| firms the integrity OF the Company's
| previous statements. This was matter
of first Importance and must be highly
gratifying to every policy holder.
The executive management OF the
Company, however, was found to be de-
fectlve in certain departments, having
outgrown the ordinary checks and
methods employed for their proper con-
| troll, entailing some losses, though not
| large considering the age and magni-
tude of the business. A few Of the real
estate investments the Commissioner
| thought proper to appraise at q lower
value than the Company's esti-
mate. while admitting it was n
| question about which differences OF
! opinion could be honestly entertained.
IL is specially gratifying to note In view
| Of the grave charges made against the
officers of corrupt and dishonest use of
| the company's funds, that the Commits
| sioner refutes them as utterly ground
| less, and that to produce such sound
| financial condition the management as
a whole was intelligent and honest. His
conclusions regarding changes in the
| organization and methods, we consider
eminently just and proper, and they have
had the prompt approval Of the Trus-
| tees.
The resignation of Mr.. Beers, whose
age and infirmities incapacitated him
for the onerous duties of the presidency,
and the elevation thereto Of Mr.. John
| A. Mccall, whose distinguished abilities
as Insurance Commissioner, and later as
Comptroller OF the Equitable Life As
surance Society, combined with his
rare intelligence and sound integrity,
give every assurance that the manage
ment OF this great institution will not
| only be reflection Of the desires OF its
members, but secure to them the sub
stantial benefits they rightfully antici-
| pate from their contributions.
As policy holders in this great Com
pany, some Of US for many years and
| for large amounts, we deem it wise TO
give this expression to our views, mas
much as there exists in certain quarters
a disposition to spread alarm and pro-
woke diStrust among the members, which
! in our judgment is utterly unfounded.
In conclusion we desire to express our
undiminished confidence in the Com
pany, which we regard second 10 none,
and heartily commend it to prospective
| insurers.
[Signed
n. +. WHITAKER,
C.. w. BRoCKUNIER,
w. L. STIFEL,
AUGUSTUS PoLLACK, 4
GEORGE L. STIFEL,
w. j. w. CowDEN,
WIN. b. SIMPSON.
JNo. L. DICKEY, NJ. D.,
LOUIS c. STIFEL,
GEO. w. ATKINSON,
BERNHARD HoRKHEIMER,
GEORGE S. FEENY,
RoBr. M. BROWNE,
EMANUEL EMsHEIMER,
p. BACHNtAN IL Sons,
GREGORY ACKERMAN, M. D.,
THOs. j. BALL,
JOHN z. CAMPBELL,
VIM. II. CHAPMAN,
JOHN A. WHITE,
w. w. IRWIN.