The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1912-03-24
Voice Of the People

The EQUITABLE and The stoeIston c,..
sir c i,a'tor OK The Timcs- Dispatch:
o on OF your subscribers have recently
appeared In your paper in reference
OF OF J "a suit brought by the widow
,tapie Lie Assurance Society Of
~ uhited states, both OF which GER
AMY do the Equitable injustice. since
o,t MI, i've rallied TO represent the real
n.t,iudc OF the Equitable in reference
~, ~ ms claim AS an act of sheer JUS
tlce TO the Equitable, then, VIC ask You
20 T RRHo nolic, the following statcment;
OF John L. Stockton. payable 10 his
WIDOW, issued June u. 1910, ana was,
tnerelore; but little over eighteen
the husband. The semi-annual premium
vas si2t.So. falling due june 81 and
December 81 in each year one clause
In the policy provides that,
~ grncc OF thirty one DAYS subject
10 an interest charge Of per cent. per
annum. Will be granted for the nay
meht OF every premium after the nrst.
curing which time the insurance. here
under shall continue in force
"a premium fell due on December q.
lpll' and as was not unusual IN the
case OF this assured. was not paid. The
last day of the thirty-one days OF
grace expired on Sunday. January 81.
h isl2. and sun this premium had not
hnif-past s on Monday morning. Jan:
uary 2?. 1912. Later in tho day. and
after the death of tho assured was
known to the company, this premium
inc beneficiary, but declined for tho
time being, In order that the society
should consider the question on It's
merits.
Tho question MS TO tho liability OF
the company was, ms you say. a nice"
one. and new one TO the company.
was. of course. referred to the counsel
or the company. An examination %
the authorities was by no means con-
elusive MIR. Daniel in his work on
heading. How Sundays and Days OF
Religious Observance and Holidays are
Countei." In reference TO days OF
., There is peeullarity about the
d dIgsSeo 'sS origin d RS arising from In
hin or note entitled to it expires on
sunday, or other non-bus!ncss Gay,
the bill or note would fall due on tho
day preceding. Thus. II grace expired
day; and II a holiday (such az Christ
mas pnyp fell on Saturday before the
sunday OF It's maturity II would fall
duo on tho Friday prccedinE."
And this statement OF Mr.. DAME!
seems to be we'll sustained both by
The cases and text writer's referred 10
by him.
1t Will be noted that the thirty one
DAYS given TO the roiicyholder are re.
fferred to rs grace days and there
ro,rs, II would seem. came clearly
Daniel and the other authorities cited.
II this !s the law governing this nues-
ton; then the company. was clearly not
liable But, whether this he so or not
1t was clearly the company's duty 10
It's other policyholdcrs TO take the
time necessary to determine this 1ues-
ton. The company never. at any time.
refused TO pay this claim. but only
asked the counsel for the beneficiary
TO delay action until its counsel could
nave tho time necessary to advise the
r nni committee Of the company; ap-
POINTED 10 determine. such questions,
what II should do about paying Tho
claim; and the counsel for the bone
nciary were advised when that com
mittce would meet and determine this
question. For reasons OF their own
the counsel declined to give the com
Dany the few days asked for this pur-
pose. and brought theirsuit,and. hav-
ing done this. prec!pitatcd a discus
sion of this matter In the newspapers
The committee OF the company met on
We're advised II would meet and. hav-
Ing been advised by It's coUnsel that
In their opinion. |Iacretion might be
exercised, the committee promptly de-
clded to pay the claim. This action
OF tho committee was not influenced
one way or the other. by the fact tina (
suit had already been brought, but
therefore, that the criticisms which
have been made of tho company. prin-
cipally by reason OF the publications In
Your paper arc both unjust and un-
fair.
The Equitable has been doing bust
ness for more than half n century We i
believe its long and honorable record |
in settling death claims promptly and |
satisfactorily will bear comparison with
that Of any other insurance company |
In this or any other country: and. !
therefore. we do not believe. when tho |
facts of this case are known TO tho |
public. Its action can he either Justly |
ccnsurcd or criticized.
We are avcrsc TO appearing in the |
press about cases in which we are !
counsel. but II has seemed to us that |
the circumstances Of this case de- |
mandcd this statement from us
Very rcspcctfully.
GoRDON &. CHRISTIAN.
OF Counsel for the Equitable |
Richmond. March o. 1912
Chr s.yu