The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-23
MERELY REFRACTORY.
The Appointment OF y Receiver for
Texas Life Insurance Company.

I Tyler. Texas. December % I'm conuec-
iioa with the appointment of a receiver foI
the Texas Life Insurance company. the re-
porter for the Houston Post asked Judge
Duncan. who Was at the recent meeting
az Houston. what effect the action Of Judge
Russell in appointing temporary receiver
would have upon the proposed rsorgani1a-
/ ton. He replied none whatever, that the
| receivcrshlp was only temporary and the
! receiver wholly without power to act; II at
he had no doubt Judge Russell. upon a
hearing. would refuse a permanent receiv-
ership. hat in his opinion the proceeding
was Instituted merely for the purpose Of
preventing reorganization of the com
( pany. 80 that its assets might be admin
istered upon That this opinion Is borne
out BY the fact that while the stockholders
meeting was in session at Houston. mes
sage was received IN the meeting. addressed
20 W. u. Cleveland. T. W. House and
others stating that y. Il. Roberts had been
appointed receiver OF the Texas Life In
suraBCe company: that he had qualified
and taken charge. The message was signed
b. h. BEARD, attorney. the same whose
name appears as attorney 10 the plaintln $
petition. This message was evidently IN
tended to break up the meeting and pre-
vent reorganization. The statement 1t con-
tanned was not. IN fact, true. for under the
oraer 81 The court the receiver is TO be
wholly without powers TO take charge
until a hearing on the cath. He could
not have qualified. because no bond was
fixed hy fhc order and Il was not cen
iemplatcd That he shoul qualify unless the
receiyership should be made permanent,
Tho message had no effect whatever upon
the stockholders meeting. except to make
them unanimous In the determination to
rcursanlzc, ana resolution was passed TO
raise the necessary additional stock and to
Immediately rcorganize. Fourteen thousand
out Of the $4,000 additional stock was then
and there subscribed and there IS no doubt
whatever OF the balance OF II being sub
scrihed al once.
Being asked AS to the statement In the
petition that II IL Rowland and his at
torneys had gone to Houston to stock
holders meeting with the purpose Of put
tiuc the Texas Life in the hands OF a re-
colyer Judge Duncan stated that this was
wi Oily untrue, that the meeting was called
o. Houston hy The request Of II II ton stock
holders. towit W. u. Cleveland. NJ T.
Jones, T. W House, j. A. Baker and
others and there WAS no thought of a re-
ownership IN connection with such meet
Ing on the part of any stockholier; but
M" meeting was wholly for the purpose OF
Investigating the affairs OF the company and
determining upon I'll, proposed rcorganla-
ticu Mr. Rowland went down to Hous-
ton for the purpose OF making statement
OIL the company affairs and rendering his
resignation. which he did at the meeting
and II WIS accepted lie had no attorneys
whatever m the natter Mr. Jones and
myself attended the meeting as stnckhold
ers aud MI Rowland represented himself
The company win he reorgani2ed With
ne" officials and removed from Tyler. The
largest interests in II are held ard will