The daily morning journal and courier., 1906-10-23
ATTACHMENT AGAINST
 HARTFORD LIFE INS. Co.
ACTION REPRESENTING ABOUT TWENTY THOUSAND CER-
 TIFICATE HOLDERS.

Seek to Compel the Distribution of So-
 Called "snfety Fund" of the COm-
 pnny Which Amounts to More Than q
 Million DOIIars-Suit Expected but
 Suit Not Begun Until the Certificate
 Holders, Unable it is Alleged to Get
 Distribution, Pooled Their Interests
 and Secured Counsel to Bring Matters
 to g Head.
 Hartford, Oct 22.-Legal formalities necessary to attach the property of the Hartford Life Insurance company hav- ing an office here, and the Security Trust company, both incorporated un- der the laws of this state, were car ried out by the sheriff this afternoon in the suit brought against these two companies by certain men representing about twenty thousand certificate hold CTS of the company in various parts or the country, to compel the distribution of a so-called safety fund.- of the company which amounts to more than a million dollars. The suit has been expected but action was not begun un- til the certificate holders, unable it is alleged to get a distribution, pooled their interests and secured counsel to bring matters to a head The Hartford Insurance company, which ceased ac- tive business in 1899, was organized on the stock holding plan in 1887, but since the former date has continued to collect premiums on outstanding certl- ficates as if 1t were continuing busi- ness, it being alleged that in 1899 the outstanding risks amounted to $9O,OOO,- 900. Prior to 1880 the company invent ed plan of assessment life insurance which was designated as the safety fund plan," by which s was collected on each $1, 900 of insurance and put into a fund, the surplus in which when the fund reached million dollars was to be distributed among the certificate holders. This safety fund.- was to be deposited with the Security Trust com pany. The plaintiffs in the suit just brought claim that the stockholders having authorized the collection of the assessment for the safety fund" since 1899, although the company had ceased to write any more insurance, have thus far failed to make a distribution of the safety fund and that the intent is to keep that fund for their own advant- age through final wiping out of cer- tificates due to lapses following increas- ed and exorbitant assessments.
 The service by the sheriff was upon the following as joint defendants: George F. Keeney of Somersvi1le, pres ident; Charles H. Bacall of Hartford, secretary, and Louis Sperry, R. B. Parker, L. E. Gordon, Everett J. Lake, A. F. Eggleston, James H. Knight, Ray mond G. Keeney, all of Hartford; and Andrew Gordon of Hazardville. The plaintiffs are the following: Charles H. Dresser. of Hartford, w. H. Squire of Meriden Hugh J. Wiley of New Ha- ven, L. F. Perdue of Terre Haute Ind; E. w. Amsden of Ormond, Fla; R. H. Davidson of Ballston Spa, N. 'Y.; H. McClary of Southington, Conn. R. H. Stanley of Highland Park, Conn; A. J. Bostwick of sharon, Conn; Charles Donnelly of Covington, Ky; Joseph Bradford of Norwich, Conn; Walter H. Adams of Worcester, Mass; Henry A. Weber of Detroit, W. J, M. Gordon of Worcester, Mass. Henry A. Weber of Detroit, w. J. M. Gordon of Cincinnati, w. c. VanLoon of Cincin- natl c. A. Roebuck of Williamstown Mass; o. s. Chapman of Minneapolis, {. M. Bugg of Chipley, Ga; Charles Ammen of New Orleans, Adolph schmidt of Brooklyn, A. B. Smith of Morristown, Vt, William Booth of Clinton, H.; w. o. Oldham of Spring field, Mo; c. H. Robinson of St. Paul. Porter Farley of Rochester, N. T.; Herbert Myrick of Springfield, Mass; LA B. Stockwell of Windsor Locks, Ccnn.; w. L. Dodds of Buffalo, O. w.. Kerner of Kernersville, N. C.; and w, H. Webster, Berlin, Conn.
 The company was chartered original ly in 1867 and its charter later changed to meet various forms of Insurance, The defendants, it's is alleged own the majority of stock
 The writ then lengthily describes the operations of the company and the character of certificates issued and gives excerpts of circulars issued from time to time to promote business, one particular quotation being the follow ing: "The Safety fund is limited to $1 1000 000, because, that so long as that amount of insurance remains upon the books, the premiums, based upon the standard mortality tables, are ample to meet every claim Should the insur- ance (now $92 ,00O O0O) fall below Sl,OOO,- GOO, it Is provided that the safety fund must be used at once for the payment of the face value of every policy out standing, making the stringest form ot policy ever devised"
 The writ then says that after the de- fendant company ceased to do business in 1899 1t made the claim, and contin- ues to do so that the safety fund does rot belong to thte policyholders, and it continues to assert it's rights and in- tention to make demand for mortuary dues and assessments without limit or number or amount; and also claims the right to levy and demand such dues and assessments and the charges for expenses, after the amount of out standing insurance is reduced below S1,0000O0, and on the nOn-payment thereof the defendant continues to de- clare the rights of the certificate hold CTS in the funds forfeited and to appro- priate the fund to it's own benefit.
 Furthermore, it is alleged, that the defendant as officers of the company have had full knowledge of the facts, and have accepted benefits of fraudent transactions, converting the money collectde to the payment of dividends L., ..tnnl.hnldars and fnI the erantinr