The Savannah morning news., 1902-04-03
THE ANVIL IN COURT
INSURANCE COMPANY GIVEN SOME
PRETTY HARD KNOCKS.
IN HANDS OF A RECEIVER.
OFFICERS ENJOINED FROM INTER-
FERENCE WITH iTs CONTROL.

John Morris Receiver Spicy
Charges Made - Destruction OF
Books said to Have Been Feared.
General Counsel r. NJ. Lester
Makes Statement for Company.
The Anvil md the American Guild.
Roast of Methods From Plaintiffs
Counsel.
Upon the petition of some of its
creditors, a receiver has been appoint
ed for the moribund mutual insurance
company The Anvil, and the officers,
agents and other employees of the COM
pany have been enjoined from any in
reference with its books, property and
accounts, pending the further order of
the court
This is the first step in the proceed
ings against The Anvil, but it is not
at all likely to be the last. The at
torneys for the holders of death claims
and for the policyholders say that If
they can establish what they believe
to be true they will proceed next
against the supreme officers, charging
them with mismanagement of its af-
fairs. The effort will be to make these
officers responsible personally for what
it is alleged has been the result of a
method of conducting the business al
together violative of the constitution
of the company.
Anxious POlicyhoIders.
The petition for an injunction and
receiver was filed in the Superior Court
yesterday morning by Travis & Ed
wards and Alexander & Hitch, repre-
senting two of the unpaid beneflciaries
of policies of life insurance issued by
The Anvil. The plaintiffs are Fate
May Slavery, a minor, of Winchester,
KY, and Elizabeth A. Robinson, of
Cumberland county. North Carolina.
Each of them is a creditor to the
amount of $1,000. Both have furnished
proper proofs of the death of the per-
sons upon whose lives the policies were
issued to the proper officers of The
Anvil and the company's liabilities for
the payment of the claims is not de-
MED. The company has confessed it's
insolvency and inability to pay the
claims.
Transferred to American Guild.
1t is alleged that the company has
attempted to make a sale and transfer
of it's assets and business to the
American Guild of Richmond, Va; that
the officers no longer perform the du-
| ties of their several offices and refuse
| to collect the debts, and by their fail
| ure and refusal to perform the du-
| ties of their offices there is now no
| one to manage the funds or property
! of The Anvil and no one to collect the
| debts owing it; that the officers are
| making preparations to dissolve the
corporation, so far as it may be in
their power and to go out of business
entirely, leaving its creditors unpaid
with the evident intent and design of
| placing all of the assets of the COM
pany beyond the reach of its creditors
and beyond the jurisdiction of the
| court, with the intent and effect of
leaving the creditors wholly remedi-
less.
The AnviPs Funds.
| The Anvil is a, mutual benefit insur-
ance company and it's assets, it is con-
tended, are trust funds held for the
| benefit of it's policy holders and their
| beneficiaries in case of death, that
| there is danger of destruction and loss
of such funds without the interference
of court of equity; that the assets Of
the defendant are charged with the
payment of it's debts and that there is
manifest danger of loss or destruction
or material injury to those interested
unless a receiver is appointed to take
charge of and hold the same under the
! orders of the court.
The petitioners are informed and be-
lieve that there are numerous other
| claims outstanding against the defend
ant besides their own and over that a
circuity and multiplicity of actions will
be avoided by the interposition of a
court of equity and by combining and
bringing together, in one proceeding,
the various claims against said defend
ant. They charge that the books and
| papers of defendant are still in the
hands OF it's officers and that there is
| danger that the same will be destroyed
or disposed of and placed beyond the
| jurisdiction of the court, and that the
injury apprehended will be done if an
immediate remedy is not afforded.
Want Their Interests Protected.
For these reasons the plaintiffs ask
for a temporary restraining order, pro-
hibiting the officers of the Anvil from
| destroying, removing or in any way dis
posing of the books, accounts, claims,
records and assets of the company; for
| the appointment of temporary re-
ceiver, to take charge of these books,
records and assets, with full power and
authority to collect all debts due or to
become due to The Anvil and to con-
vert. the proceeds of such collections
or assets now on hand into cash. They
ask further. that they be given judg-
ment for the amount of their claims
and such additional relief as the ma
ture of the case will permit and as
courts of equity are accustomed to
grant.
Judge Barrow Immediately granted
the order, prohibiting the interference
of the officers of the company with its
books, records and assets and direct
John Morris, who is appointed tenn
porary receiver, with such authority as
the petition of the plaintiffs asks be
conferred upon him.
The Anvil, by it's officers and attor-
neys, is directed to show cause before
Judge Barrow, at noon on Saturday
next, why the receivership and in
junction granted should not be made
permanent. The papers in the case
were served yesterday upon Mr.. D. B.
Lester, supreme president of the COM
pany.
The Books Turned over.
Armed with copy of the order of
the court Mr.. Morris, the receiver
named by Judge Barrow, made a de-
mand upon the officers of the company
for the surrender of the books, rec
ords and accounts of The Anvil and in
the late afternoon they were turned