OCR Text |
Show H YORK LIFE DEFIES 1SSQUBI JWTHMHTIES Attorney Declares Ofliceys AYill Neither Resign Nor ReViuid Any Money. JEFFERSON CITY, Mo.. Oct. 'J5. Tho conference set for today between Attorneys Attor-neys F. N. Judson and E. C. Crow, representing rep-resenting tho New York JLlfo Insurance company, and State Superintendent of Insurance In-surance W. D. Vandlvcr concerning probable prob-able action, to bo taken by Superintendent Vandlvcr towards annulling tho Stato license li-cense of the Insurance company, was held laic In tho day. Tho conferenco began at 3 o'clock and did not adjourn until C p. m. -Vandiver Reads Letter. The proceedings were opened by Mr. Vandiver reading his letter to President McCall of the New York Ufo Insuranco company, when he demanded that the contributions to tho National Republican campaign funds be returned and the president pres-ident and vice-president resign, or that assurance bo given by tho board of directors di-rectors that the alleged misappropriated money would be returned within thirty days. Ho also read a letter from President Presi-dent McCall stating that Attorney Judson Jud-son had full power to represent him In this matter. Judson Cites Statute. Mr. Judson began his argument by reading read-ing the statute under which Mr. Vandiver Vandi-ver proposes to act. Ho held that the Stato Superintendent of Insuranco had no power under the statute except upon the grounds that tho company vas Insolvent or that 1 to capital fund had been Impaired, Im-paired, substantiating his argument by quoting decisions of the courts of this and other States. Further. Mr. Judson said, thc demands made by Mr. Vandiver could not bo, complied with Says Demands Impossible. "These demands are absolutely impossible." impos-sible." he aald. "because thc Superintendent Superinten-dent demands that the officers refund the money (?S,CO0) contributed to tho Republican Repub-lican campaign fund, within thirty days." Can't Be Made to Pay. Mr. Judson contended that tho directors and tho policy-holders were not respon-slblo respon-slblo nnd that the-' ofllcors could not bo made to pay, and that If thoy did pay the money, according to Mr. Vnndlver's letter, they would then bo compelled to resign, which he was suro they would not do If" they had paid back the money. Embezzlement, Says Van Diver. Mr. Van Diver contended that "tho directors direc-tors arc liable for the money misappropriated misappro-priated by tho officers. He Then said that this contribution camo under, the head of embezzlement and that tho directors. direc-tors. If tliny knew of It, were also. In his opinion, criminally liable, and If they did not know of It. they wero guilty of gross negloet of duty. "They would bo removed from office," said Mr. Van Divor, "and hence tho' action ac-tion T have marked out would protect, by causing the policy-holders to remove such directors." Policy-Holders Approve. Mr. Van Diver concluded by stating that ho had received hundreds of lottors from polloy-holders. nnd that P5 per cent of them favored his proposed policy,- but that he would take no action until' tho expiration of tho original thirty days' notice, which will bo November 7. |