OCR Text |
Show Failure or nil Insurance Company. Com-pany. New York, 25. Great excitement was occasioned this afternoon by A report that the Continental life insurance company had suspended. sus-pended. The failure is due to the depreciation of the securities of the company,which are principally bonds and mortgagee. An officer of the company states that the company oooW have krut on. but tbo cspcusea of maintenance were gradually eating up the assets, and it was (bought best to appoint a receiver to wind up its aflairs with a view to resuming at some future time. The officers are much excited and decline to give any estimate. The Commer cial Advertiser states that the failure is regarded as a clean smash. A receiver re-ceiver has beeu appointed. |