Show STATE STAT SPEEDILY SETTLING AFFAIRS OF O INSURANCE I COMP ANY First Trial of New YorK Law Very tory tor ALD ALBANY N. N N N. Y July uly 25 Judge S. Andrews An- An drews sitting at a special term torm of or the tho Supreme court at Sy Syracuse cuse has approved tho report of ot William H II superintendent su superintendent su- su of ot Insurance and has di directed dl- dl tho the J payment of oC a a. a a. a first frt dividend of oC 60 per cent to the certificate holders of the Peoples People's Mutual Life Lire Insurance association m and league Teague This dl dividend win will wi be paid by Insurance department ch checks checks mailed to members at their home borne hore addresses T Te issue Isue of dividend checks 01 will wi begin August Augut 1 it I is' is estimated that the tho work ork c making jn the payments to the n mer members bar will take tako about two wJ abut months Tho The Peoples People's Mutual Is the fraternal Insurance Insurance- society which camo came Into public notice In itt December 1909 as a a result of ot an attempt on tho part par of or Its Is board bard of 01 directors director to transfer the control of at the tho society and UH its Is of ot 1 assets for tor a consideration of or about At that that time tre possession of or tho the society was taken by Superintendent wl under an order of or the supreme court The same court directed tho the liquidation of the corporation cor cor- porton on March 3 3 1910 and the tine officers of of- 01 appealed from this order ardor All AU ap ap- ap penis peals were cr withdrawn n on April 11 11 1 1910 HIO under a settlement which Involved the tho return to Superintendent of or the tho tho sum um of or which Hotchkis had been withdrawn from Crom the tho society and ad deposited depos depos- epos epos- In the Canadian bank This Is la tho the first liquidation of 01 a n large lac Insurance company under under the new la law requiring departmental administration In Instead In- In stead of or receiverships through court pro pro- A first dividend of or 60 per cent has been declared In less les than four months month about of securities ties tes of o various arlous kinds kind turned Into ca cash h. h of ot matured obligations paid pair and at a total exp expense nse of or less than or abu about tenths tenths six of or one p per r cent of tho the amount now to bo be distributed This expense Includes for clerk hire for postage cerk for tor printIng printing print print- tIng t- t Ing and 92 for tor rent It I has not been necessary to employ cum counsel cl and tho the tion ton was vs recovered without litigation Ilsa- Ilsa |