Show PECULIAR ACTIONS ACTIONS' OF INSURANCE Stale State of Affairs That May Lead to Official Investigation New York Nut Nov o 2 Investigation In of oC the E E. R. R Thomas Thoma and anti O. O F. F Thomas management o of tho time Provident SaYings SavIngs Savings Sav SaY ings s Life Ic Assurance society has lm re revealed revealed re- re a state stale of or affairs that liat may causo cause action by the courts As Asyet Asyet yet the tho Investigation l Is u incomplete and anti later laler developments may mitigate what at present s seem em to bo be transactions transactions of oC exceptionally ugly appearance appear appear- anco ance- The Tho fact that Timothy L L. L Wood tuft ruff former president Pl of or the tho company com corn Ian pany stepped into Inlo the breach un and satIsfied satIsfied satisfied sat sat- the Philadelphia syndicate which had hud threatened criminal action against the in no way absolves absolves ab ab- ab- ab solves sol the management front from lom its acts TIme The ers controversy between the Thoma Thom Thom- a ases cs an and amid tIm the Philadelphia syndicate had nothing whatever to do with tho the affairs of the compan The Philadelphia financiers insisted Ins that Mr Ir Thomas an and his a associates sold them tho tIme stock of or tho the Provident Pro society for cash an and 1000 In notes note and that Instead of ot de delivering de- de e- e livering Jl the securities they h hypothecated hypothecated them J Just list when the crisis was most acute Timothy L L. Woodruff oo stepped in and pledged the return of the thc cash and the tho notes to 10 the Philadelphia interests Ho said saida a new president and directorate would be elevated ele and everything o would be all right The fhe Philadelphia interests are satisfied sat sal an and the tIme banks that held the stock certificates are satisfied but hut it was learned from author e source tonight ton that the insurance departments de do- of New Nes cw York and Colorado are far tar from satisfied and that Ine in- in e has shown some transactions transactions lions which unless explained will ill give sufficient grounds s for criminal pro pro- It is known that on October 21 more moro than cash deposit Jt to th the tho credit of the Provident ent society In the time Thomas Morse banks were hurried hurriedly I transferred to other financial institutions On the tho followIng following following follow follow- ing da day clay the d developments d as to the financial condition o of this group of or banks became known State Superintendent of Insurance Kelsey Kelser Is making a fv thorough xam am- am of the tho affairs of time the ProvIdent Provident Provi ProvI- dent Life which probably will not bo be completed for 01 three weeks The ent a investigation lion an and tho the devious financial transactions of the themen themen themen men who have been boen in control of the tho Pro l Provident Pro enl Life LICe never ne might have been investigated by the time state i insurance tl department but for the Insistence of ot time the state slate superintendent of or insurance of Colorado E E. E. E who demanded an investigation in of or tho the financial financial fin fin- ancial deals between tho timo Provident Pro Life and time the Pennsylvania Mutual represented b by the time Philadelphia syn syn- |