New Britain herald., 1915-10-12

Pe"hS' NA'S IH6reDy OeDreCldta the value or her interest in the company.
 The court is informed that "the solvency of the company and the conservation of the reserve fund de- bends on the good will of the poslcy- holders and no part of the assets of the. company should be loaned or in- vested in the securities of any of the warning nations, or used for the pur- pose of abetting existing wars"
 Want Officers Restrained.
 The bill asks that the officers of. the company be restrained from d. rectly or indirectly investing it's trusa funds or suffering any of its assets to be used for the purpose of aiding the manufacturer of munitions of war aeroplanes, submarines or any naval outfit or appliances to be used by the English or French nations for belligerent purposes. It further asks that J. P. Morgan & company be re- strained from soliciting or connivings with the officers and directors of the Mutual Life Insurance company for the purpose of procuring any of it's funds to be invested in the $500,t00,- 900 Anglo-French loan. A sfS1ilar rule of court is petitioned against the members of the Anglo French loan commission, Lord Reading, Sir Ed ward Hopkinson Holden, Sir Henry Babington Smith, Basil B. Blackett, Octave Homberg and Ernest Mallet.
 The statue of the state of Illinois and of the state of New York govern ing investment of insurance company funds are incorporated in the bill and the court is informed that the invest ment is contrary to the statutes, al- IoI company had already invested large sums in, British consols, Cape of Good Hope stock, and various Aus tralian governmental securities
 The petition is presented to the court in the name of the petitioner and all other policy holders in the Mutual Life Insurance company of New York. who may care to join in the action!
 No Investment Says Peabody.
 New York, Oct. 12.-Charles A. Peabody, president of the Mutual Life Insurance company of New York, when advised last night by telephone at his home at Cold Spring Harbor, L. l., of the suit brought by Mrs. Walsh, said:
 We have never thought of invest ing any sum like $10,00O,0o0 in An glo-French bonds. In fact, we have not yet invested a penny in them. The matter is under consideration, how ever and it might be that we would decide to take $2,000,000 or $3,000,- 900 of the bonds as they are doubt less a good investment. .
 Act Entirely Lawful.
 L. full for us to invest $10, 0,000,000 or any other sum in the bonds, within reason if we saw fit to do so. There is noth- ing in the law to prevent our doing so without limit, as our company does business both in France and England. New York Insurance companies doing business in these countries are per- mitted by law to buy their govern ment bonds."
 Neither Mr. Peabody nor Frederick l.. Allen, counsel for the Mutual, had heard of the suit until informed of 1t by newspaper man. MT. Allen said it was virtually certain that no summons had been served upon any official of the company as yet.
 Commissioners Silent.
 Members of the Anglo French LndHCldl cOmmlSSlOn, who are named as co-defendants with the insurance company, had heard nothing of the filing of the suit. They declined to comment on it. Although the date of their sailing for Europe has not | been announced, it is known that they | expect to depart shortly. It was | thought unlikely that the suit would l delay their departure. J. P. Morgan k Co. likewise refrained from com nent.
 A prominent Wall street banker as- serted last night that in his opinion he filing of the suit would not pre- vent the f1otation of the loan and would hardly hamper it. Although he contract with the commission has 1ot yet been signed, the sixty New York banks, trust companies and in lividuals composing the syndicate managers have pledged the underwrit ng of the big issue and it was said rave every intention of taking the ponds regardless of opposition else where.