Show PACIFIC MUTUAL LIFE DECLARED INSOLVENT LO LOS ANGELES July 23 UP Su P-Su- Su Superior u- u perlor Judge Douglas L. L Edmonds issued an insolvency order Wednesday Wednes Wednes- day daylor for the Pacific Mutual Life Insurance Insurance In In- Burance company of California The company plans plan's an extensive financial financial finan linan cial reorganization State Insurance Commissioner Samuel L. L Carpenter Jr was appointed appointed ap- ap ap appointed pointed conservator and liquidator by the court Car Carpenter announced plans plaits for a anew anew anew new company to be guided by a selected board of ot directors under tinder l leadership of President A. A N. N Kemp The reorganization plan contemplates contemplates contemplates plates the complete of the comp company ny for the benefit of Its policyholders with all policies policies' reinsured reInsured re- re Insured red in the n new w concern which will twill carr carry the same sarna name |