Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-02-27
AN INSURANCE MIX
Involving Extensive Interests Car.
ried Into the Courts.
TEE CASE A COMPLICATED ONE.
Failure of the Attempt to Break the An
drew Jackman Will.
BUSINESS OF THE COUNTY COURTS

George Woods and George A Woods,
through attorneys d. f. Patterson and J. S.
Ferguson. have filed bill in equity in
Common Pleas Court No. 1 against Edward
A Woods and the Equitable Life Insur-
ance Company to compel the latter to ren-
der an account. 1t is stated in the bill that,
on November l, 1880, George Woods, in
pursuance Of an agreement made October z,
1879, became general manager for Western
Pennsylvania of the Equitable Insurance
Company. 1t is further stated that the
terms of the agreement are in possession of
the defendants and the plaintiffs are unable
TO Law them before the Court.
1t is set forth that George Woods was to
receive a commission on all premiums of
policies issued within the bound
ary of his agency for 20 years
and that owing to his lsbors the
insurance increased within those boun-
daries from about $500, 900 to SIS, 5000, 900
between 1880 and 1889. 1t is further stated
that by reason of loans made to him by the
defendant company his Indebtedness thereto
in the latter part of 1889 amounted to about
S25, 900.
A Tripartite Agreement Reached.
In consequence, on December 80, 1889,
pursuant to preliminary agreement made
the 9TH of October previous the respective
defendants entered into tripartite agree
ment with him whereby it was provided in
ter ALA that one of them, Edward A. Woods,
became general manager of the company
after January l, 1890, and that the commits
N-a1 nc ba "
the contract of November 1, 1880, should be
paid TO Edward A Woods and divided be-
tween him and George Woods, the latter to
receive three-fourths of the amount and
his Indebtedness to the company to
be paid in monthly installments
of S6G0 out of his share of the commissions
etc, and he to receive personally the
premiums on all insurance negotiated by
him after January 1, 1890, with right to
examine the books OF the agency and
monthly statement to be made to the
cashier Of the company showing receipts
and expenditures and balance to be paid to
him, George Woods if he so desired
1t is averred that the latter became a
party to the tripartite agreement on the
personal assurance of Edward A. Woods
that he, George Woods, should be allowed
TO draw $500 per month on account and to
be adjusted at the end of each year. 1t is
averred that during 1890 the agency earned
4 bonus of $4,000, which was to be paid by
the defendant company in addition to the
commissions noted, and it is stated that
plaintiffs expect to be able to prove that q
bonus was earned in 1891.
No Accurate Statement Furnished
II is also stated that by an assignment in
writing on February inst. George A
Woods is entitled to one-half of the inter
est of George Woods. 1t is charged that
neither Edward A. Woods nor the cashier
appointed by the company have furnished
accurate monthly statements of receipts and
expenses and balances to be divided, nor
any Ineligible account of the condition of
the agency, and that George Woods has
been refused access to the books in COM
pauy with an expert bookkeeper, and that
the services of such expert is necessary,
owing to the complicated condition of the
accounts.
Plaintiffs say they are informed and be-
ieve that defendants have entered into an
agreement, the purpose of which is the de-
privatiOn of plaintiffs of their covenanted
rights. and finally that George Woods has
not been paid any money since December
81, 1891, and in consequence considerable
sum is due plaintiffs
II conclusion, plaintiffs ask the court to
bring Edward A. Woods and the Equitable
Life Insurance Company to book, and to
euioin them from carrying on the agency in
any manner detrimental to plaintiffs