The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-03-06
AFTER HAMILTON'S PROPERTY.
n ew York life Wants to Know Wha He
Has Before II Sues.

The New York Life Insurance Company
has AGENTS out trying to find any real or per-
sonal property owned by Judge Andrew
Hamilton. They have discovered W. or
three speculative accounts. 1t has not
been learned by the company yet in what
condition these counts are or whether
there is any prospect OF their yielding any
thing in the actions which the New YORK
Life will bring against Hamilton.
Some hope is expressed, though, that an
examination Of these accounts may dis
close facts in regard to Hamilton's relations
With legislators.
EThe agents ave been unable to find any
real estate other than the Judges place
III Albany, and 1t lie said that there is a
good sized mortgage on it. In the report
OF the Fowler investigating committee,
which vas adopted by the New York Life's
board of trustees, Hamilton was held ac-
oountable jointly with John A. Mccall
for almost 81 600 900.
The New York LIES suits against Ham
ilton probably won't be begun until the
company gets some definite idea OF what
he is worth. 1t ia unlikely also that any
papers will be served in the actions against
the Mccall estate until it is known how
much property the former president left.
A special meeting Of the New York LIES
board of trustees was held yesterday, and
this resolution relative to the Armstrong
committee recommendations was adopted:
Resoired. That this board recognizes the
merits of a large number OF the proposed
amendments to the insurance law presented
I'd the Legislature by the Armstrong Com
mittee, many of the provisions OF which
hkve heretofore been adopted by this board.
by resolutions of the board or by amendments
to the bylaws OF the company. and this
board heartily approves OF and indorses a
large number OF the recommendations OF the
committee: and be 1t further
Resoired. That this board having been adj
y vIsed by the executive officers and its ac-
tuaries that some of the provisions of the
proposed laws will in their judgment be
highly injurious to the interests Of the policy
holders of the company and viii tend TO
lessen instead Of to increase the safety Of their
Investments, represented by their premiums
already paid and will seriously impair the
carrying out by this company of the purposes
for which 1t was incorporated. and this board
eoncurring In such advice hereby authorizes
land -instructs the president of this company
TO take such action as In his discretion may
seem proper including the employment OF
counsel, to bring to the attention of the Lewis
lature the objections TO such proposed legis-
lRtions
II was said that the word counsel" did
not mean a lawyer or aWyerh DuC msuT-
ance experts. The New York Life will
stand by the agreement which was reached
at the conference in the Mutual Life build
ing on Saturday. The New York Life does
not object particularly to the recommends
ton restricting the investments OF life COM
panies. Years ago the company excluded
stocks from its investment lists and it
won't stand out hard against disposing
of it's collateral trust bonds. The recon-
menuations limiting the amount OF new
business and curtailing the annual eX-
penses of a company are the ones which
hit the company hardest.