Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1905-08-02
soclETYs INCOME REPORTED AS
INCREASING.
ANOTHER COMPANY BAD
Examiner Reports Gross IRREGULAR
ties to New York State Superin-
tendent of nsurance-Figures jug
ged, Claims Delayed and Resisted
and Jud5aients Concealed

Lie EhSotlt fINt ct'ClCty lIAOtAC III
the fiji st six months of 1905 was $751;.
729,t an increase of $2,3S6,81O, over
The corr spending six months Of last
year, according TO a statement just
submitted to the board of directors.
TIE assets December 81, 1904, are
given as s412.953,O2o assets June 80,
1905, S421. 249,272, an increase during
The six months Of $7,296252. The in
colae for tne first six months Of 1905
was $3S.799.1>S. an increase Of ST.
t336,S1t. Policies issued the first six
months of 1904, C5,592, assuring $1G6,.
129,221; first six months of 1870 61,-
loss, assuring $150,706,993; policies
terminated the first six months of
1904. 36.l4i. assuring $100, 275,199;
first six months of 1905. 42.123 assur- /
ing $1l9,8l5,146; assurance in force
December 81, 1904, $1,495,452, 1892; |
June 80 1905. $1,526, 434,739. The in
crease in assurance in force during
the last SIX months is $31,941,S47.
Suit for Receivership.
New York, Jrlv 2S.-In the form Of
an amended complaint to the bill fled
last April. suit was begun yesterday
in the United states circuit court to
throw the entire 1921 100000 assets OF |
the Equitable Life Assurance society /
into the hands Of 9ceiyers, who shall |
tate possession Of all funds. assets /
ami property held by the defendant !
society Of very character and de- |
scription and administer the same as /
they may be directed by the court
More than 40 policy holders in the
Equitable representing a dozen diff |
ferent states. qra included as COM
pla,nants in the present suit, which is
based in part upon the allegation that
the society has no funds With which
to meet it's enormous losses. and is /
iusolvent
Tie amended bill alleges that the
society nas been guilty of mismanase- /
ment in syndicate transactions, that
| ''unl easCnable and exec ssive" salaries
have been paid; and that large SUMS /
of money, ranging from S20000.0V9 to
$37. 100000, belonging to the said as
| sarance funds Of the society, were al |
lowed by it t. remain uninvcsteI on
I deposit in banks and trust companies /
without adequate interest. in many Of |
which banks and trust companies the
sail officers and directors of the scci-
! ETY. or many Of them were large stock
| holders, for the purpose Of securing
! pccuniary benefit to such officers and
dirJ ctors individually; and sucn I'M
due and unreasonable casa balances
existed since ut least tho year Of
1901
Recifng the purchase of Hyde stock /
| by Thomas F.'Ryan, the CON lleinj de- /
MED the locality Of the cleo ion OF
directors who are not stockholders Of
1.-The society. The complaint Goes on.
.rhe assurance funds held by tie
SOC. ETY. have been fraudulenty and neg
/ leetfnily, and are being. wasted and
imismanaeed ANA lost 10 the extent OF
|luany millions OF dollars; it is with
out a legally chosen beard Of direct
ors and the real value Of the property
held by it is unknown and specula-
/ tive"
Another Company Exposed.
Albany. N. Y. July 2S.-Concealment
OF judgments against the company
amounting to $1S2767. exaggeration
OF It's surplus by over 100000 and
fixed policy OF delay in settling claims
are some Of the charges made against
The Mutual Reserve Life Insurance
comrany by Chicf Examiner Isaac