New Britain herald., 1928-08-10
EXAMINERS HUNT
 FOR S3,50O,O00 Eight Insurance Officials Prob ing St. Louis Company LOSS IS NOT EXPLAINED
Stockholders Ask Federal Court to Prevent Their President, Roy Toombs, From Disposing of Inter- national Life Stock.

St. Louis. Aug. 10 Rl-The ab- sence of $3.600,000 from the assets of the International Life Insurance company unexplained by it's presi- dent. Roy c. Toombs, Chicago, oc- cupied the attention of eight insur- ance examiners here today.
 Are Investigating
 The meeting of the commission CTS was another step in the investi- eation of the company, for which receivership was asked yesterday by two of its stockholders, Massey Will son. St. Louis, founder of the com pany. and C. P. Long. of Tupelo, Miss. In their petition, the two stockholders asked the federal court to restrain Toombs from disposing of any stock of the International Life: to order the restoration of the missing securities, and to prevent reorganization or reinsurance of the company until a thorough examina- tion is made
 Today was the date set by the eight commissioners for Toombs to appear and produce the securities. His attorney. Walter K. Chorn, of Kansas city, said, however, that Toombs was not able to be present but would arrive in time for the meeting of the International Life stockholders Monday.
 To Issue statement
 In Chicago last night Toombs again promised to issue a statement today which would ''clear up ev. erything," according to an official ol the Toombs and Daly comnapy o1 Chicago, of which Toombs is head The official said Toombs expected to receive the report of the banl examiners today, and after time fol analysis of the situation would make a public statement. Governor Steps In Meanwhile. at the order of Gov Sam A. Baker of Missouri the in vestigation of the company proceed cd today under the direction of Rob- ert E. Daly, actuary and acting commissioner of the state insurance department.
 In the receivership suit brought yesterday, Toombs was charged witt illegally disposing of 1o,000 shares of the International Life to the Mis- souri State Life Insurance company in a plan to transfer the bushes: and assets of his company 10 the Missouri State for one-third it. value.
 Makes Denial Hillman Taylor. president of the Missouri State, said the Missouri State had never owned any stock il the International Life.
 l Toombs. 41-year- former tele, graph operator, who left the Kan sas prairies 13 years ago to seek his fortune in the Chicago money mar. ket, obtained control of the Inter. national Life last September by pay. ing $3,200,000, which, he made known, he obtained in the east. The present investigation is saiG 1 to have disclosed that shortly after SdlIllu6 COIllIol llc Nltllulc" o7oo, 600 in cash and that within three months had obtained so,900,000 ant | to date had taken out a total o. $3,500,00o.
 No Securities Sent Last December 31, the Interna tional Life financial statement Whicl is demanded by states where it doe' business. showed the purchase oi that date of S3,122,456 of securi l ties from Toombs and Daily, the Chi cago investment house of Whicf Toombs is head. Examiners now eX i press the belief that no such secur ities were ever sent to the 1nterna tional Life here, by Toombs Chi raCo invest mont bOISp