The Portland daily press., 1895-01-14
TIE BOWERS INSURANCE.
A Decision of the New York Life Handed
Down in the United States Circuit Court
on Saturday. -

on Saturday. .9
| In the United States Circuit court on
| Saturday was handed down decision by
| Judge Putnam in the we'll known equity
case of William 7. Bowers, administrator,
| VS.. the New York Life Insurance company.
| This case arose over an insurance on the
life of the late Railroad Commissioner
Roscoe L.Bo wers of Saco. In July. 1857,
Mr.. Bowers took out form OF Iontihe
policy, known as Insurance bond with
guaranteed inter est,'' for ten thousand
dollars, payable in fifteen years. Subse-
quently. in 1890, Mr.. Bowers applied to the
company to have this policy changed to
what is known as the 'ten-year endow-
ment foIm." This application was dated
June 9, 1890. but was sent February. 1880, to
the home Office. The form of policy asked
for in this application was clearly ident1
sd, and one which the defendant corpora
ton has used without change of form for
many years. Upon this application the
policy in suit was issued, which was sent to
the insured March H. 1890. After being in
the insured's possession two days. he re-
mitted check for the balance due on the
exchange of policies. This policy remained
in the insured's possession until the time
of his death, July 8, 1892 and during that
time no word of complaint was made by him
to the company that the policy thus de-
lIvered was not in fol NJ the policy he under
stood he was TO get and that he asked for.
The insured after the receipt of the en-
dowment policy, continued to LAY his pre-
miums as specified therein, during the
| years 1890 and 1891, hut for some reason In
| tie year 1892 had decided not to pay further
pr emums, but to take paid up pollcy 1or
| asa much as he had paid premiums,
privilege which was secured to him by the
| terms of the policy and, announced this In
| tention by letter addressed to Mr.. Ander-
son, the conpany's agent at Portland,
written at Saco, on the 30th day of June,
1892, the day after the Premium became
DUE Before receiving this letter, Mr..
Anderson had dawn draft on Mr.. Bowers,
| for the amount of the premium. with pre-
MUM receipt attached, and on receipt OF
Mr.. Bowers's letter announcing his de-
cision to take paid up policy. wrote him,
without the knowledge of the home ONCE,
| letter the same day, urging him to recon-
| slider his decision. To this letter MI.
Anderson never received any reply.
| Through some delay in the banks, growing
| out of the intervention Of Sunday, and the
| holiday July 4th, and the a BIS ence of Mr..
| Bowers from home, this draft was not pre-
| sented 10 Mr.. Bowers until the afternoon of
| July 6, 1882, WHEEL he refused to pay 1t and
| it was returned by the cashier of the Saco
| bank to the Biddeford National bank, fol-
| lowing the course by which it was trans
mitted from Portland. Subsequently to this
| refusal by the insured to pay the draft on
preservation, the president of the Bidde-
| ford bank, having knowledge OF the drift on
| Mr.. Bowe.s, went to See him to offer him
| funds, if he needed them in order TO pay
| this draft, and Mr.. Bowers then Ie-affirmed
| his deci sion within a few hours Of his death,
| not to continue the policy. his statement
! 10 Mr. Bryant being, II amt going to in
| sure any more in that company and told
! them so. wouldn't take it if
| they would let me have it for fifty cents on
a dollaI.' This was about seven O'Clock in
| the evening: about midnight of that day
| Mr. Bowers suddenly died. The next after
1 the death of the insured. member of his
| family persuaded the Saco bank TO recall
! this draft and allow it to be paid, OUT this
| payment was repudiated by the defendant
| company as unauthorized as soon as the
| fact was known, and the amount rendered
| back to the compliments, and this amount
| has since been paid to them. together with
| the amount the insured was entitled TO on
paid up policy. without. prejudice TO tn e
/ right of the parties in this suit.
| The administrators of the estate. after
| Mr. Bowers's death. brought a suit in equity
| asking that the policy be REFINED SO as to
| allow thirty days of grace in paying
| premiums, as had been a condition in the
| iirst policy held by Mr.. Bowers.
| OF course the allowing of this thirty days
! of grace would be equivalent. to decreejng
| the payment of the death claim.
| Woodman & Thompson, and Symonds.
1 Snow Cook appeared for the plaintiff. ard
| Hon. Charles F. Libby for the company.
| The decision handed down on Saturday
DEGREES that the petition shall be dismissed
| W 18th costs. This is decision for the de-
| PENDANT.