The Montgomery advertiser., 1905-10-03
INVESTIGATION OF INSURANCE An Epidemic of Effort at
 Probing. WESTERN LIFE'S TROUBLE Individual Proceedings in
 Managers Case. Transfer of Hyde's Equitable Stock is . Attacked in Court-New York
 Life's Books Being
 Looked Into.

| ruptcy proceedings were begun today | against E. l. Rosenfeld, manager of the | Western Life Indemnity Company. al- l ready the subject of much investigation on the part of several of the policyhold- CTS, and if the new move meets with | success, Rosenfeld will be compelled to l testify concerning his interests in the Western Life Indemnity Company. The involuntary bankruptcy petition | against Rosenfeld individually was filed in the United States District Court by Attorney Salmon O. Levinson for the complainants, while Judge Kohlsaat, in the United States Circuit Court, was hearing arguments by Isaac Mayer, de- fending Rosenfeld, General Moulton and the insurance company against an &C., counting, the appointment of a receiver for the insurance company and the ref erence of the entire difficulty to Mas ter in Chancery.
 A restraining order was issued by Judge Bethea of the United States Dis trict Court enjoining Rosenfeld from moving any of his assets. including his alleged contract with the defendant company, from the Jurisdiction of the court
 The move was complete surprise to the officials of the insurance company, but was not the only one. as another bill was filed in the State Circuit Court asking for an injunction restraining the officials of the company from usin g any of the reserve funds of the com pany at the proposed meeting tomorrow to pay the directors and other officials of the comcany for their work in rein suring the company.
 Tomorrow an attempt will be made to have the petition filed today against Rosenfeld individually referred to a bankruptcy referee and If this motion is granted, Rosanfeld can be compelled to take the witness stand and testify conc arning the assets he has in his possession. It Is charged In the bank ruptcy petition that Rosenfefd owes more than s32, 1000 in Judgments held by several persons. s,. The petition Is based on an alleged act in bankruptey which Rosenfeld Is said to have committed when, in Sep tember of this year he transferred a large portion of his assets to William H. Gray, former manager of the West ern Life Indemnity Company. thus pre- ferring Gray over the otfer creditors. His Various Interests.
 The petition alleges that Rosenfeid has an interest in the Safety Banking and Trust Company of Philadelphia; that he has contracts with the Security Life and Annuity Company and the Western Life and Indemnity Company; he has an interest in the Mount Vernon National Bank of Boston and that he has further secret interests in the Ev- erett Hotel in Washington. D. C.
 State Insurance Examiner Pfouts has made his report on the condition of the Western Life Indemnity Company at the close of business August S1. The assets he found to be $374.944; total liabilities and deductions, $151. 1.463, ball ance to protection tracts, s22s,4so Ex- animation of the assets he adds. shows that they are of the best character possible and that the collateral loans are amply secure. The record of the company shows that losses have been paid promptly. The mortuary fund is used for paying death and disability claims exclusively. Since the organi- zation of the company the payments for claims have exceeded the portion of assessments credited in this fund $37s.- s23 Of this payment $2o.1b7 had been paid since January 1, 1905.
 William H Stead, Attorney General of Illinois, may now take complete control of the investigation into the affairs of the Western Life Indemnity Insurance Company and bring about a settlement that will be agreeable to the policy holders. While argument for the appointment of a receiver for the company and for an accounting were in progress before Judge c. c. Kohlsaat in the United States Circuit Court today, Attorney Walter w. Hawk, who represents a number of alleged unpaid policies declared that q movement is on foot whereby the pol. icyholders and the officials of the com pany will each place in the hands of the Attorney General all charges and Information concerning the company.
 Two new intervening petitions were present before Judge Kohlsaat today by Attorney S. O. Levinson, one of the
 
 ton of New Orleans, widow of James Stratton, who was insured for 5000. More specific charges are made in the petition than appeared In the original bill of complaint against the officials of the company. In the stratton case it is charged that on the $4,000 claim $700 was offered in payment.