The sun., 1909-01-01
WASHINGTON LIFEDROpSOU7
BOOKS CARRIED OFF TO PITTS
BURG OVERNIGHT.

tdny, WLlCh was BOld last september 10
syndicate of Pittsburg men headed by
William G. Baldwin. president Of thc
ipittsburg Life and Trust Company
ceases with the expiration Of the yea
TO do business. except Of course to fulf
Its obligations rs 4 company. II has re
INSURED all its policies with the Pittsburg
Nife and Trust Company and transferred
jail Of its property in this CITY " the Pitts
burg concern and will close the offices
iof the company here in New York except
for the retention for some time Of a
cashier branch. Tho Pittsburg com.
ipany writes all its business rt the home
Office Of the company in Pittsburg, with
which thn New York Office Of the Wash
ilngton Life has been consolidated
few Of the employees Of the WASH
inston Life have bean taken to Pittsburg,
but more than score find themselves
out of employment with the closing of
The New York Offices. 10 some Of these
IL is said that tho closing Of the offices
came as q surprise. but the handw riting
on the wall has been visible ever since
Messrs. Ryan, Morton and Whitney sold
their holdings to the Pittsburg men early
In the autumn. ..
Henry A. Rubino rs attorney made the
folloptng statement yesterday regarding
the ephsolidation;
Ths pi,,.h,, = yu,. ,,,, IT,,
=, p1s, 80. = a'u iiuea oi'pt''' ''.
49, 40 l,nsuIeu Wy pVI',S ouI'-
gauons OF the Washington lnfe lNsnrahSe
have been carr ed out and completed. The
Waship gton Life Insurance Company viii
from this day on write no new business.
The Washington Life Insurance COMPANY,
. although perfectly solvent, has not been
gaining business during The last fen years,
and f1r.son,e wears cont temnlated reinsuring
lis nolicv ohliaations- If. anothar comnanv
ms totaJ asss,s q, tba p,,,sh,ry : iTe and
T,r.t con,nar,, .,n 'ss ~, 90. =, au,n.i uJ
.e Nui"pa"g aIe So l'-''o' loo'"-''o gu to S'nua'
81. onn o1o " s1.Sy' nS n, msursuSu W r Iones
o"yS; ne 'lsTglE lhis ana IIst
,omPehy mas 'Sop poncyhoiders, Amohg
the 90 legal reserve lifc insurance com
panies transacting business in the United
states there are but i"enty-one companies
with a larger INCOME. II is Of great ad-
vantage TO the policyhoders OF the Wash!
ington Life Insurance Company to be
reinstaed in 4 company as progressive aud
strone ss Ihe Pitt.burg Life aud Trust
Company e.
Thx ,s.r yo,l, ops,,. ., ,h,, uo,hi,
ton Tiiye vere nrscf;coIl, oiosad -,
Wsdnss5.v' and ,he hnsjros ~ ~, ~
,.omnsnu 90 lo.,and s,i'h Wo,,nad.,. .e
aIthda sk the offices were still omen yester.
day. The books and records Of the COM
rany were sent TO Pittsburg OH Wednes-
day evening. The precpitanCy with which
the books wera removed without the
torInahty OF consulting the state Superin-
,enuept OF .lnsltSSnce capsen some com,
"ent enu ieu 10 Nle puoiiCd,ioti OF Wiu
aiy ol ,n"e arsG si.h 're u%oks
,, "a si.;Lsl ~ 80. /. - y W;
n nSnpr,ni,;y, ~.;,S ~, 10, and ,ho, ~
Jffyshnro cninnany would anniv nro,nn,iv !
for dine authnrizstion under The ins,,r. /
arce Department of this State inst as
soon As under the Pennsylvania report I
I could show The New YORK department !
the costs uf It's business, &c. as required I
gnder the HuShes amendment 10 the New /
lork insurance laws The po!tcyholders ,
~ me Washington, he said were now not |
only ~ ecured by The properly and assets
cf the Nashin Rton cornpany but by those I
an well of the Pittsburg company
S,.ss Ite -, -
r'PeahlbS = OF we hscIIISsu cIerhs ne
sa!d that each had received months :
a. ,aarS W auVance wien lhlorjheu Vna'
.nh ItlSpule company "Ouiu NOV ie-
pilIe their serNicss
.J7 sui I',iie"neH. ~ n.isuIa,tCe
ea%uIu III ,its w S,4.sl,,eiIt ..,,'I =" "en oi.e
lS,..,s.,o ,.,,lIz
'ecanne pupNc'
II Is stated by the Insurance Department
IN the matter oil the Washington Life In Il
france Company and reports of its re
,Iroyar from The state that the Washington
life Insurance Company claim, TO have
rsinsnred ali its noIicv ohIi0a,ions in the /
p,,Ish,,r, Iira and Trn.t ,orpr,sny or pittse
I,,rr a,. i,s,,r,,,,,,s ,,,,,,,.r,' 80, a,,,sor
"a :, -, -, ~ t''sI,s, 80 So =, -, -
w ~ =" '"V ,'".e " -
rAanllne'S " tne in -,'anog pepaIt-
'neht were llnheuiaIeIy ue'aleu 10 ascer-
am the facts ana Nisit the oHces OF the
Washington Life, The situation Is being
m estipated by the Insurance Department
m connection with the Attorney GENERALS
Iepart Blent at Albany.
Representatives, OF the Pittsburg Life
and Trust Company have assured the In.
-urance Departnant that the pittsburg
ronsnanr, viii promnlIy apply for srthori,y :
IN do Ensine.s i'm the STATE of Now YORK
md that the reinsurance Is undertaken
for.thb protection OF the poicyholders of {
ne. Wa shngton LireI !
The department IS taxing alI steps ueCes-
'afH 70 ProIe'l tnu conserve 'he interests
!pe.RoI', no'uT'7' q
The Washington lhte transferred us Z
cal estate in this city yesterday 10 the !
Pittsbu1g Life and Trust IN nine deeds, .
ha consideration named being 81 IN each
l9ed. The parcels transferred wero iS !
lud 145 +. B.oadTay aud SO and 81 lAberty !
teest. bslpg the home office building OF q
he company; the southwest corner OF !
broadway and Prince street, 0l and 93 !
\lerce: street, lO6 20 ll2 Spring street, !