Newspaper of The New York Herald, February 3, 1867, Page 6

Newspaper of The New York Herald dated February 3, 1867 Page 6
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THE INSURANCE WA{, Meeting of the Scriphold^rs of the Sun Insurance Company. THE EXCmffiat IB Will STREET. LOSSES IN OTHER COMPANIES. Ac Ac. Ac. The sonooncemsnt made hi ymderdav 8 HviuLB-of the ptagy condition or many of the leading insurance , nm Mptes had tbe effect of creating an es<*rmeot in 'J>? commercial pearler* of the, whit* may safely ^ Mid to have HMD only equalled by the uervoue agitation that immediately preceded the dlsasWeus pane of 1*67. Vrtm an early houvfn tbe ujo holders of stocks, ; polities and scrip* and ellier Insure* were kept on the wut tn'ee, rutratngfrom eftlre to office and T rink to bank, anxious to gain ("be most reliable mformMlon as to the tent of loseee ruatamed by thi several compaale* the amount of their deflrtendee, and the probability, ir any, natng ablo to weather the storm which la now, literally, raging in this department of financial ?HMre with n violence that very seriously endangers the -alety of Komeef the once considered aafoet and most reliable inst.luiMJOK of the kind In ?tae country. ?vi*rt Aiwrn ev kw Honnrw. The -cfrip holders of one coeapany-the plaio very lond'.y ot the lieawwent they have received at the bauds ui the director*; and the statements made by them on tbo ftreet cud elwwtaeiw, if true, load one to imagine thit the managing officials have not dealt mirty with tbetu. They say that repeated albsmpte have been made to get th# directors to make nsplmia 4km of tbe '.rue static of dtDdra; that committee* ap potutod by them as a body have been snubbed; and that, in point of fact, a or rip htlder was treated in the of Ice ?f the company mere an an intruder than aa a person having a part ownership in tbe funds of tho corporation, and deeplv interested In lie affairs. They gw firtlb-r, ? and say that tbo Sun is really an ?nplo?lad concern; tli^t thn directors have eetabiishad a new com pany on its ruins, to motiirie its business, occupy us buildings. and throw overboard its senp holders for the bewfflU of those interested in pol?lee and stocks; that nil th.s bmi been done without the roust tit <w knowledge of the owners of scrip, and that tbo arraaguinent Us ttctbing more than a port of abetter for a very euiall party odt or the great number al sufferers jj-rBEKt.ssmss or a tanic. the frieaffs of the compuny defend it by saying thai the hooka end accounts are perfectly tqtmre, and that the cancelling of scrip Is a matter of the direst necessity; the osUbhshmoat of the company aa at present cnostu laled a -contingency apainst danger and ruin, and tho general oeurse pursued by the directors and managers thoroughly honorable and legitimate. They also assert, with aome good reason, that tbe company in Its present condition re.ju.res perfect freedom and liberty of action, and that its officials will-bring it safe through tbedan?ers gal new -surround wnd threaten it, but that the con tinued opposition of scrip holders or any other body would so embarrass its operations as-very probably to cause it to-wind up, and that then, In that cose, a panic wm raw to follow, which, from Its importance and the mjory done to trade would-be considered nothing short of a pnbbe oaiamlty. Tf to it Xiy lod Httnnoi al ift rtoubtwl, Ibal noorpomUon transacting eueb ? large amoani ot t?e> mot M tbe fun?en Metitutten new wubhahod over rr? ^ during which it has bono, oniit lately, very n*ce?mf*l?ahonW have made a largocennectten among other companies an well as tho gen?ml puhhe. Tho enn Mgnewee wouM bo, w mmtv other Mteiama being mixad np whb M own, that Ms omhnnaBWoent wotrtd asoat cor mioly involve other eorporatioaa to aneatentwbich at the pMeant moment cannot with any certainty ho even at. HUM, nowhere of scrip holders who tool elvws sorely aggrieved wore beard yesterday to re paork that, no matter what results would fellew or what calamity would he caused by the action, they wore de al roue of winding op tbe affaire of the company because they ne longer reposed any conrtideoco in ita directory. fWeSlJITISO BTATMrtVTK Testesday the directors issued another statement, whiehdHl not altogether agree with that published in flka newiwcr* <* the day lieforc ami many remarked that this kind of condoet was only in keeping with ibat pursued by th- directors on previous oecas ons. They mv lha' statemenls ma?1e verbally by hiyb officials of the rompanv were vorv winch at variance with the pub not ed account of affair*. Other gentlemen complained thai on aoconnt of these?as ibey called them?false rcp reaentatmos they were in.luce.I to advance the company ?ums of money varviug froui $e.?00 to ffiibjOOO wltlnti lbs laai low months; and one In particular wa- under stood to remark that be advanced a sura of money on th. representation of ooe of tbo chief ollircM, that ihe company would present a surplus of over ?a?0,o00 al tie rtyultf ftfuiuftl hlatflWiii a not ht of Mimr ca^cjiiijii*. In soy case, the immense amount of scrip so suddenly cancelled -aor.ot but -enouelv affect very many persons, and the Iulury done to individual" or private w?o statioDs ran not at the present time he well aseorbilMd; hot th?t* < Ml 0O no doubt tliat the lCrfdiU which must n? erw.-.rUy follow from the ! of so much representative earifd n?"t b. developed very ?p-e.lily. and in a man err wliich mey further tend mi hat-ura the already down ward tendevs i* of all kiuds of insurance stock. ft hethcr tin action ot the directors he .lust or imjnst. ar win tlo tithe holdi rs have Is-cn legillmololj ur un fairly dealt with the fact cannot be eoncealod Miat they must suffer ??n?,eeraMy from this depreciation of tbe vaiee of their paper, especially whaa It Is known that ??, of (ten held scrip to oe lew ae amouot than fit' OQQl TV* A4XXH-ST" urn* eve ooIMawv hmt s ormrr Crest escitemotit wkw, therefore, very naturally caused when there coiiBa-.lUig "Wteinetite *nd rumors wore paiwed from month to i mo nib yoH.svday, ga-nint coasld eraMv the farther tbey trav. Hoo?c |>orson? sdve sated the net. -way ol at-; Kimiing ? receiver, while others were "tronglv .n favo. of instituting law proceeding* ?garnet the dimfwr. Tht > public alatetnentA, other- ar aerteo were untnie. sod ,U ??> eonBdeotly -">'od by .enHemen evidently well lac/ptaint.-d with the d-i?H. that tbe Sun company wn nld. ?' proper su-utiay. fx mtnt. even after cancelling * crip, " deficit of htife over nurnvn or eomrin r.errso.T At noon yesterday a numit rr of .he eertpholder. met to devise the best mean, to be taken in .1- P-e mot "tete o. The oblect.of the ma.ordy present was evidently to bring ihe matter official!. i?s -rr ffasaranee bureau at Albany, and ,U.? (he erotianaesnicnu of the ooT|*>'? ,,on- l" " * ' ' men look a calmer view of ihs ai !?lr. "B , raetioos action, bat their aivic# w? '? Wl" " ' *? by tbe others, who appeared lo 1* 1 1 r . viadirtive against the directors, wh. ^ Cooduot loodly enndemued. and openly laughed ll ths word "honorable" was used m relsik * "r m** agsrnmu o! affans. Among those presei 1 !l' 1 tag were Vows Tayler. P. V Bockfc?<:? . * I rl>?aoan, Wilson b Camman, Alersndct "? '* ' i mere. Meody b Telfair. A. F. Higglna. sod \ "tu" nee connsetod with tbo insuranca mioie-t.' I f ?f the Krrlpholdera at ih.-C"?u" ?M"? (Ml laaaraare Caaapaav Ait-eat* Kairlte ?Mt, Ac. AO adjourned meeting of tie acnpfcaidem of V" ?S,?B MotuaJ Ineuranre Company "at held at noon yr?V errfny. at No. 60 Pl?? ureal, Mr CoaalU in the chair. At toon o ibt meeting had been railed lo order * \'nn t on waAtnade pledging the ncrlpboMcri t? detray V *V? f eipotugr^yrtfjOlr' nod legal, which might he nervy t ? -^'eart^ (^?mMhgaMMpecttog their Interest. (on>id*r <*e Okie tiMHWbw a?d the motioa *u finally <i? Mr. Cdlfce, who acted ao aecreury of the meeting, then read the following report, preeeated hy the coin ailUee appointed by the last meeting ? The committee appointed by the ncrtpholdere of the fen Mutual Inanrance Company beg leave to report that, rumaat to the power conferred upon them, they have aahaa advice of connaef ao to the rtgbte and llabihtiee of earfphoidevo of emd oompaay. and in reply to their com maaleaUOM have received Uta accompanying opinion. Their connect alao had a pereanal interview with Mr Grin, ?ell, and bad written him a latter requeuing ao Investiga tion of the bock* of the compear, and In reply bad recr r. ad a letter granting the name. The committee h' ? ' ?' >e are examined the no 'I ?? iny and 1 'tie c-<t pet-<-f t ?c l?t? lon ? ; ? c ;v t ..y opinion m to lta correct n-m. They b*e# alee examined the recent statement of tbe company, end llnd none of it so fin ally in Conflict with tbe first report as to warrant tbe strictest, scrutiny Into tbe aIIairs of the company, not only for the last year, but Tor the preceding; nod until such invest gallon is made and tbe result thereof ascer tained, your committee would recommend great caution on the part of tbe scrtpbolders In dealing with the com pany. In now of these farts, your committee would recommend the passage of tbe following reaolutione:? Tbnt your committee be empowered to examine into the alia Irs of the company for the Inst two years, and also to employ a proper person or persons to assist tbem in such examination, and that a report thereon bo made at the eariiost practicable day. The second resolution authorised the committee to re fjuest Insurance Superintendent Barnes to investigate the affair? of the company. Tbe following is the opinion of counsel referred to in the report:? Your letter ashing my opinion aa to right* and liablll tics of re upholders in tbe Son Mutual Insurance Com pany has been received. ThU company was inaugural'*! by an act of the Legislature of this State pas-eil Mar 2ii, 1Mb By the third section of tho act tbe corporation so created was declared to "possess the powers and privi leges and be subject to all tbe restrictions and limita tions which are granted or Imposed upon tbe United Insurance Company," Ac. By reference to tho charter of the United Insurance Company, passed May 14, 1810, it will be seeu that tbe company so formed was consti tuted with powers adequate to tho transaction or a mutual insurance business. Tbe practical working of such a business may be described as follows:?One hundrod merchants give notes for $1000 each to tho company during one year, making $100,000. Assume that thesn premiums are well earned by tho company and the notes paid, and thai the losses and expenses of tbe company have been $80,000. The profit is $80,000. Now, by the terms of tbe charter of this company, the trustees are empowered to retain this $80,000, and issue certificates i called scrip to the dealers wliu have paid in tbe $100,000, tbe scrip t-o Wsued being subject to the future ta?es of the company. The moucv retained must be Invested by tho company pnrsu&Bt to the terms of the chatter. If Die company continue in business the same coarse of i'tiun i? pursued. Ttte losses of tbe year arc in tho tlrst tustancn ts> be paid oat of tbo earnings of the year, and the capital or reserved accumulation of tbe company cannot bo resorted to unless the earnings ef tbe year have been insufficient to meet tbe town of the year. Tins accumulated fund ie the property of the *>Ttpf!ioldon?, and their right therein cannot bo diveoted without their consent except by opera tion of law. us suppose, however, tbat the earnings of the year nave not been sufficient to pay the losses and expenditures. In such a contingency the company are, by tbe second section of the amendatory actoflH+4. passed March 'J7, "authorised to declare a pri rata deduction of the amount of tbe outstanding certificates.M I think th 8 act Is directory, and r quircs the company provided they resori-to the expedient of declaring a deduction on scrip, to make such deduction pr? rat it upon all the outstanding scrip, and 1 hnvo no doubt but that the company may, under this clause, call In and cancel all their scrip' should the losses so far ex ceed tbe'oaniingH as to justify such a course. Whether the losses of a company have exceeded tbefr earnings in an amount equal to the amount of tho outstanding scrip, is a question of fact to be determined by an examination into tbe condition of tho company. If upon such an exam'oation it is found that there remains any portion of the accumulated fund I have no hesitation In saying that such portion belongs, pro rata, to the scripholder--, und thoir right thereto cannot be taken away by any resolu tion of the board declaring the scrip to be cancelled. It will be necessary to examine tbe condition of tbe Sun Mutual Insurance Company in order to determine tbls fact, and I would suggest, that some person familiar with marine insurance losses be employed by the committee, and that tbe examination to be made should be thorough and searching in'every particular. It is not neotvsary for me, uuder the circumstances, to consider tbe que? tion of tho perpetuity of the charter of tbe Sun Com puny at tbe preieut time, for the reason tbat if. upon in vestigation, tbe scripholder* are satisfied with the con duct or ihe trustees they will have no concern with the future of tbe company. 'If upon tbe investigation it should appear that there are assets of the company, to compel them to rescind the resolution cancelling tbe scrip and reinstating the scripholder In such rights as he has been wrongfully deprived of. The following document was then banded round for tbe purpose of obtaining the slgnaturee of the remaining etock holders:? Xi"^u?Kin,rri',,*CO W<?. J\."**-? tor Wm V $32,000 aim \r{j ib i.for kil*' J. *>. najtiiij V"**V ' auSi ?^mas*' ??& ?Mi? Mowlam! Nottingham n^n^::;:;; *S .?*??&? m rorfri^H. 6'?S x *?&&??: j .Tsrib^i,4-22 II^Ut^tongM,. SOW Wm! ** *? 225S" IS? If Pfrnw7\uhtr? ? 5? ffT W>"#? ?<ona ' pg. - K. H.'Somrtti .'.".V.V.'.V. t.MOO 9*"bamJ- 8?*??r- - 4.1*10 ,-T,b'!v.fl'"t rpM,!,'?'if?n *? then niuuiimouRlv adopted rJKcz',,s:^* ~ - ?wi? It ward be quit. Unw l0 Cttl, in Mr. bi!T? tma C "" P?liit't'''" <Maoovered demanding *oa"e?n?; tho speaker by obeervlnc that . report made yesterday morn inn by tlie Hun Mutual MMwMw them 7n'7.h"?.1*1 Wi'1',,r tTnm ,h:l? Prr* .7,u,t?y.J on ,h83,? Of Hecombor. 1?W. that he wI.2L??m 7*" *nipl8 ,fr"unU ,or submitting t|,? whole niatlor to Insurance Nnperinleodent Baruo* On "r Herein her, lftfi.',, the tri steea ,,r this inslitntlou niMilf a public eiatcm-nt which chowod an accumulation of profits to that .lav of *i ?Xi noti ?i T i "r '??"mber .11, 1866, one m'r C J?'C"?"m " ?H':",'n'"nl pwwi^lv like tlic prpvio a on,,' CL * ^PP'-^nted that the n?t premiums for the S, mnklny'lh? tou.^u 1. .1 fV ' At thc "?WM> time tft?ni Kami '""J f?r for lKM* *nclo?,lTi> of oxpaows am! oi yo?o,?lo Ibev ba.| a. Bo,al a right to take that ?mtn dw'pJTv'n K T "k1,OD 118 * *UhSeqUm>t ?Ue, itncc Ihtv w another mid a different edition might come nt three o'clock tha? ane?",,n. suteiumit supported an.l fortified the statement^ mX by .be oflWre ?f ,hc WDV i0 ^ \ "ZwoZn L hold r> ,n December to the c.Tect that ther had a aulw slant,ai margin of JSoo.iKX), and that of ? ht. r ,"no!j Yet" thJv M .V** ol WW.OUO or .11. VS. .. . ?hey were told now that their writ* ?an ?II to he wiped out Under much circumstance** i; ?>k eminently proper that I ho Superintendent or the In-u, ance Department should l,e made aware of the rmcL the Ont ajHtaker, in reuewinj; hia remark e ^aiil that it wa., |M'rbapo known to inoel preeom that he aas ? pnuueal average .uljuster. It had heart hi. i?< < ?poke had inn.le aotno etateruoute. no; wilfullr or rw7ii;i5.h, :rz?'m,?.z szx, tssr nonenftbo iqsuran.-e companion, not even thai irrl'at no. re.|UirMl by th-ur elmrter to i^ tmwT' a <-",!lPr,JV' W U,c cl",w M 'Mt year *?l th a and t'lrfher' "tint? T "" u ally earned ^'.n^ $^n ? ?"Ty to $SSti, OOP man. Th?r f I 'S(? or'ml,, Efriai ibe- money bad been f^id, ?I?Z7?0.w ow'i !7ih b"id a ;?r, i^X n'SKs ? r the eliape of loW- which have y..t be |?id Tod which 1 3J?? ^ doilar n! thee. v,?eti ,. A'tZd ? ThU^lb:" ",P,r bol,d,n? ?? PnTdown ?i ,WW. Those tlytiree were made before IWami... ?.I?made truthfully and aupprreedio bT c?rm^ rhl rikfnO ZJlZr ,h' mm,lU 0f l,BC""Pw loet^nearer and of cunrae were oompeHed to take n m ? Th^Th^-'^ ?'S^on the S-iS??kLUi12 T",a* of th',r huil'iina at r <"Mn,"t8 I'leced on it be ej T. r a 7?^bSIS^ k^"r "f tbtfi t|)i? i oBipiaf hud A larvA , *T? kD<ivtii( risk aad M.? the Imlore??!?-? "lb*0f pnbic wlamtit^ ,b? "SfiS" Lr?':id. It P*V ?o rn.e, it. liahtllu*. enrrv on .mJ l)HH# bUttClt Ml40 (1>M? tilAV h aiI ,Vki titan they nerded to reu,.ure the r^teiw "more statement the capital wj ot^neS Hm'XVtT ?rnptkm era. obioiued. and when the book, of ,Z ,.any were ohnmd up in reeul.r eb.^Xy we. e?S uv get more accurate figures, and ihe> made ^n e?7 balance ih< *1 of the Iclgor ot the rum pan r Thie then fbuml that, putting the r aenet* at the tiigh.n (tear, they wo.ild uol have a raw left after they had paid th^ U*He<v Had thai lteeo known Iwrore Ute il., f nromj her the .-ompanj would prwbahly hae* wouod uZ?u, HHi7 u l"*?^'0* et Uie fact that forte miihona of dollare of rtska ware entruated to it, the stock holder, unaniinoualy felt Um. it wn. duo to th. commun?t, aBd to New York to keep it In exletenre When the an no., ncemeat waa first arsry one wae atnu^k 1T7h T With gig?**4**' N* "ndotihted v ,would bar. tha new capital if |,e ^ih^nnH'ST0^ ?ompnny were renJIe we rth ?.V),OiO, which waa n aoit ot guarantee for hia moa ry. Ah ? last measure It was de:erinin-il to cancel the a rip. certainly it wne not ta ibe interest to adopt a mease "?;jo damaging to ita cradtt qiIcm cawipailed to do ao At 'he time, the speaker, who had suhaenhed, feu the stmn^ ??t inclination to withdraw hia maaey, s.nee d waa evia ?nt that ,hf ?aW wob1<, haw( ^ r.'.l'JT^"4 1* 10 ?<?.??.??. *>d 1 bat, too, at tw# e!!l- 5l!# '?X ,,#rto hy the compawy and which baa ra eanth been aba 'wn to bo tasufflrieni But the history of "'Tha' bren or? of honor. (I .d iacghtsr cts of d'rtsloo.| Yml gr I'le-n-n mar I iU ? ecord ban been cna of 1 onor ?tT. and vwa all felt th?l t(a eoiu.we ' rk .. . P''l'lley <*J|mli? to lite ctt? of New TvJ. and ietamiiyU^ ,f poeMMa. to* keep H going. J-nm * resolution ar that off red would ast a stigma upco the company from wliicli It would recover with dl?eulty; and ho begged t .irm, as citizen-i ?i" New York, not to embarrass tbe working of the company t-y requesting the intervention of Mr. Barnes betorc it was thoroughly proved that sock a measure was neroa aary. The results of such action might be eitrcmely disastrous. It might bo the means of starting a p.-JJlo that none of them could seo the end of. It will take but a very few (allures and stoppages to create a groat om rnerela! panic among the corporation* and large Anna. He therefore proposed aa a substitute for the second resolution offered by tho committed the following:? H??olv*d, That the committee to be appointed by this no-cling be inairucted that no a too i tubarraaslng the vcurkiug of the company shall be taken until an invi tli; uo'i be made, and the figures reportedly the company be proved erroneous. A gentleman said it stmek hnn that the last sneak- y wan present aa a representative of the Sun lnsura company and of tho stockholder;. This was a me-/ r,g of M-ripboldera only, whose Interest* were at slut j tt au simply proposed by the resolution of tbe cor ^ruittee to request Mr. Barnes to Investigate the case^ u(| no harm ought possibly to result from that. Another gentleman said that the coropanv t,ud mated In Iiecember, when they called tor morecap'^sj, that they bad not $260,000 but $800,000. He kne*g? person who had subscribed $250,000 on the sireagt> ?f that asser tion. A voice.?1 sobscrlbed $10,000 on, the statement of Mr. Grinmdi that there was ftiOO.tXXVwbich mutt he used before the new stock could be knurled. A second vdice. ?I subscribed V^.OOO on similar repro sentat ions. A third voice.?And I sutler Aed $26,000 ?e the samo way. A gentleman Bald he 'was a scrip holder and held no stock ; but be was unwil ling that, ror the sake of getting a few dollars, tbe secuMty of tho Sun Company should be endangered. The '.ailure ef that institution would be l>erUou8 to the intere sts ef the commercial men of New A gentleman thton began to speak against the reaoiu. tlon, but interrupted by a-cry from the middle of the audtenqft, "We don't want auy policy holders hare. This i&'a scrtphoidere' meeting." A gentl-mon said be was both a stockholder and a acripholdct, and be was in favor of stepping tho com pany, 'because he had no confidence in their statements, (bond cries of "Question, question.") lie believed It would be a great benefit to tho community to have a company, like this, which bad provrd itself uuwortby of confidence, wound up. Ho wanted to get his money back, and so long ss he got that, he did not rare whoso interests wure prejudiced, (boud applause.) A scene of tbe greatest confusion ensued, and ss soon as the disorder bad somewhat subsided, tho substitute f<rr tbe resolution was again read aud put to the vote. The yeas and nays being apparently equal, hands were count d, the motion being lost by 25 to 21 The original rt'solutl n of the committee was then voted upon, and tarried by 25 to 22. Tho meuting was then adjourned, the audience break ing up into little knots and expending a great deal of spirited argument upon the questions involved before they finally dt-pemed. The Mtatemeui of tbe Hun (Isutpany-Tke (It her Hide. The scripholdors of the Sun company bavo, through the public proceedings of their meeting, presented their side of the present misunderstanding. The directors have made the following statement or explanation to one of our reporters:? Tbe Sun company hue been in existence sine? 1*41, sinoe which time it ha* paid, with few exception*, a yearly scrip dividend of sometimes over thirty.flve prr cent, and an average dividend of over twenty por cout. During the past four or ttve yearn thin scrip liar accu mulaied to the extent of over a million of dollars, and m the law makes it the IIrat portion of the awets iialile to be consumed to moot losses it hac been ??un coiled, aa the emergency of the laat d:-a-i troue year has required. There I* still uri amount of unearned premiums on hand?some $COO,KJ0 -which, with tbe addition of a flock capital of $600,000, places It in a perfect working condition. The nature or th>< company if changed, and it now becomes a stock nod mutual institution combined, with the difference that policy holders in fulore share only three-fourths o! the earnings, the remainder going to the stockholders. Kor this lower per rentage of dividend, however, the insurers will he compensated In the guarantees given by a sub scribed capital and a prospective reduction of insurance ? rates. The company claims that under the Its the Institu tion as at present formed is not a new company, as the 1 arripholders charge, hut the old company, and cite .a j defence of their statement section twenty-one of para graph twenty-two of the Revised Mtalutee ou Mai ne In surance. which is an foBevrm? It shall M lawful for any mutual eomgaar to he eatab Matted In conformity with tan fourth asetion or this act, tor the purposes of mantle tr-suraoos,aud having coin piled with the provisions of the fifth and ek-realb sections of nils set,to units a caah capital to aa extent of not less than two hun dred thousand dnHars, aa an addition at security to the mem ber*. oxer a ad above its premium*. Rom, tbo company maintains, Is tan warrant of law tar its action in changing the character of the corpnra tion. The scrip outstanding baa been lawfully cam elled; there Is no necessity nor legal requirement tor going into liquidation; additional assets to tbe extent of five hun dred thousand dollars have been subscribed?the law regards subscribed notes as valid asveU?and so it is not a new body, but the original institution pfirautog its career like any moneyed institution which has made good the inroads on its capital. Tbe friends of the company hold that the scrip owners are not all of them those who realized their certificates as policy owners, but speculate!* or others who have Is night the crip, like stuck. In tbe market at u discount sometimes as great as seventy-live and eighty per cent. In buying this paper they were fully aware ?f the con ditions under wbj.-h it was Issued by the company, and hence should bear tbe lose which it entails without cotn p'aiot. It is farther flitted that the present policy holders ot the company do not sympathize with the movement of the scrip holders, which would seem to be a si rung argument against tbe claimsof the latter. In asNteting the public to understand tbe nature of the dispute and the merits of the scrip owners' demand for a redress of their grievances, the following copy of the wording of the scrip in question may l>e useful:? 1 Ids certify tliat John ,lonr? In at this time entitled >? 0 oe hiiiul,-' it dollar* in the Inte-ted fund* of the Sou Hutu ,1 lukitrance Company, suhje.-t to ilie right* of the company under the charier ami nil ?l--m ind* In inetr favor, and to re eive on ?he hr?t dajr in Kebvuary of each year audi intereat a*-hall ari*e from the invaaimeru ol the -aid funds not ex ceeding aix per r ent tier annum, provided that when the and expense- of ant year shall exceed the premiums -rncd dining lite urn-year the .1 i.- tenry m to In! provided . rr Irom the amrregitc funds of the romrxnr; and this cer tificate la to l>e surrendered for rrdurilnn'at the time the liral of Itiierrat ahnll be due. auhsequant to -urh de ticteney t-elllg asi ermui 'd So elands tbe quarrel aa to the Sun Company. Whether Mr. Hames, Superintendent of licoiratirc at Albany, will feel obliged to compel the company to go into liquidation, a step which the adoption of the resolutions at the meeting yesterday would iudieate as not objcetlouahle 10 the scrtpholdars, remains to tar soon. Iud erl it la claimed by the friends of the com pniiy that he4ia< no ground- U|*>n wlncn to proceed tn such an extremity, and that the movement of the scrip owner.* la onlv a selfish otic whereby they hois- to realize something lor the paper which they bold ai the rosi 0f the annihilation ol the institution. If the roinpanr gov* on under the new reglots (be scrip is utterly worthier* aa its holder* kuow. If, however, the e ttripntiv goes into liquidation all its assets, consisting of real e-uate, houd*, mortgages and the . ,vb remainder art?-r reinsurance, will go towar l the redemption or Italulttiea, including the scrip. Tout tlie dispute inity result In hitter una protracted luteal ion would seam to tie e\ wed in the delerininati in of many at the meeting yesterday to em ploy counsel fo proaecule their claim*. Other I nmpntries ItfrrtrH. To wbal extent tire present lor-os have extended ia not fatly apparent aa yet rhe exclueivetv lire cotn pantre are not regarded as unsafe?with a very lew exception*?though the immense destruction of prxqrerty on land has not been without it* effect. The damage inflicted by the Portland calamity was a staggering blow-the evil* of which were in creased by the alarming spread of incendiarism, tint them institution-. though not a* atrong a- a few veara hack, are regarded as reliable. Their earning* in all case* have not permitted Urge dividend*, and while the rm'e* have been Incrc-a-- d there ha- been with many of them a prudent ecnnouii/atlon of profit- to meet iviu tinge nciec. ro* wr?siimn? *4*i\r ijf*cn*vox oiwrttnr. The Washington llvine Insurance ilanipuiv, on* ol the oldest corporation* in ibe city, and doing hnruna?a on the stock aud mutual system* combined, ]I,'is sintered to such an extent during the past year aa to impair Its caudal to the extent of forty p?r cent. The loss*# were so great daring the last twelve montus as to - wallow up the surplus of lifi.",, amounting to 102.000, and the per rentage of capital above mentioned. It has been ou* of tbe most careful institution* in it***, and It* loeees are only another striking proof of th* disastrous character of insurance traoHartjr-n* of tSM It ha* not misprinted operation*, elthough the deficiency would Imply bnokroptry in * miMhturA. A rlu in iti cbiritr permitting an asse-m-nt to make np the deficit le a guarantee that the institution Is financially nound. 1 lie clause referred to |>eriu't* the peremptory sale of the "hair* ot any reluctant stack holder*, and the result would be the replacement of the amount in deficit, even If the ether shtreholder* had to buy in mwh (took No alarm I* felt among insurer* aa to rt*k< in thir company, and policies sre .tuning a* usual Tbe delicti lor the vest, as pruarntad in the statement published a* an ad I vertisement l? ?aiO,f.W Another staiement, em bracing tbe full detail* of th* operations of the year and the exact statu* of the company, ta now preparing, and will be issued m tn# public tn Hie early portion of next week, vrrxr.wit.irs* i*ar*s*o? omreitrr. Tb* Metropolitan Insurance Companv t* one of thoe* originally doing an exclusively fire busmen, which, in judiciously a* il prove*, went into tbe marine depart ment. I la losses hsva i in paired it* capital to the *t "?m? , l,orty p*r "nt> it* managers are now at Albany seeking tb* pipage of a bill permitting It to routines bualni-a* on it* circumerritied capital. The ? _ f'l|l>P*n'*S whlch have not goffered, are of course apposed to ytich leg slatloo as an injustice to litem Which Sunuln not he pefroltted. flow the mtnrere will rrerard it .* also * metier for consider* tton _ The original capital of fl.noo.flOO teprw aented a certain amount of risks, and with the reduction of ihat eapital to f000 000. the proportioo hot ween the capita) and the total amount* a-ured. will be materially altered In fart a retrenchment of nearly one-half *f the risk* *u the doctrine of -haneet and per centage?should be made to rexlore the equilibrium. . .J?1*! "if* "? dudty. there can be but little douM.-a* tbe immense luss** at the year must have extended throughout th# whole range of onr inaurenre corporations. Il sistli not tie well te take, without question, alt th* statement* advert tad in the newspepers, showing the condition uf each company. An analysis of n searching nature would undoubtedly lead to Dairy cartons development# as io the reliability of the Dean* whtoh three rem pan I re hay# on band to meal their debt* A good tnaianre of this wag afforded in the cm# of the exploded Columbia# tuna* topurance Com J *m"n' ,u aTte. f,latme ??*">? cm M-rc m the late w 8?a J>y itie rebel iiHclf ??* ?i. Km! ? ^ 8U<1 also 8loc^ ?r lli? company iLuLn Int? *"? *??" >? b, the dir<T(ur* or ?or! of he. s of couriM, there was a should hnre *?" tt*fcrt*' which op patriotic man amount rcr * *u1e?!,'0D?<,? b?| unfortunately the medial-'Iv -rented by toe claims ?m not im uese ni d?*ilel>la, and hence the practical bu?i the adv * Interested ware unable to see comne 4"lur's ?r E,,,:h ***"*? *bl'? U? the ease of the the e '* 8loclt " was Iuiu,e ,0 figure at par value in not ?**??*?'of affairs. though in the market It would v. .haro realized more than a traction of the represented ^Ue, especially when the institution was'in extrnnU. Aa investigation at the present day or the items of the . a^-etaof .many of our companies might reveal similar soul low foundations for their soundness. The remark Is 'ft made with unv view of creating alarm hot It s a nnty which Insurers owe themselves not to be Imposed r..m u ?IblblU( 80 flatteringly paraded as to tb? c oryoratu^Vu r,>l UWI" 8,1(1 ******* funds of oar insurance HaNhlastoa Insurance fampanf.

TO THE BMTOR OK THE HSRAJ.I>. Near York, Feb. 2, 1M7. In your article headed "Shaky Insurance Companies," you speak very derogatonly of the Washington Insurance Company. If you mean this company, you ere wrong. We have $400,000 capital and over $300,000 surplus. TuTJT i'8 a^a*bln*ton Marine Insurance Company, and n?n!Tii it ? ^.gt"a I,lre 'B8UtT?nce Company. This cotn f^vLw v?..uMblngtoti Insurance Company of the City or now York. We have been very much annoyed all ??,.iL2!22E!LBOlnin* ln w ,n1'"r* abo,,t the troth of ? ' aBd "* t*11 them it does not mean us nillJ11 ***** t',? w?ebington Marino Insurance Com pan^ WM. K. LATH HOP, Secretary. DARING ROBBERIES IN THE ELEVENTH WARD. Elcht Houses Plundered on the Ssmr Kvrn inn?A Physician'* l?\vclll.iH Rifled While the Family were nt Ten -llarrotcr. In Tompklna Nqnnre-A New ??d?e. Ac., Sr. Notwithstanding the almost diurnal appearance In tho columns of the Hanaro of a large number of bold and daring robberies committed in this city it Is a notorious fact that less than one half of them are scarcely ever made kDown, although the pollen are Invariably In formed immediately aftor a burglary takes place. The silence maintained In suppressing this information is simply depriving citizens of their surest safeguard age nst repetitions, for according to tho old adago, "To he forewarned Is to be forearmed." In a neighborhood where so many depredations are committed by a gang of expert burg are and sneak thieves it seems strange that the police have refrained from giving Intimation of the same to tho inhabitants. This neglect is still more singular from the fact that the "guardians of the peace" never fall to "put In an appearance" when some slight nuisance is apparent, such as dirty sidewalks, k<\ Were the people properly warned it is more than probable that tho loss ot property from this cause would he much less frequent, t'everal robberies of a most daring character took place quite recently in tho Eleventh ward, theporjioirutors of wtilrh, so far as wo can learn, have not In a singlo instance been made amenable to justice. Conspicuous among them was that of Pr. O'SuIlivun's bouse. No. 135 avonne B which wns entered while the family were at ton, and rob ? 11 nearlr pvorv wtlele of per-onal property that was available including a very fine gold watch of peculiar l'"ih.lrU::fi?n' Tft.lued. at " 'a-'*'- diamond ring worth $-,.>, a valuable set of mink furs. and. in short, the complete wardrobe, oi the Doctor and Mix O'Sul. Ilvan, even to the clothes of their little infant, r nun tho of Dr. O'Suilivun it appears that no had left his bedroom about hail-past nix o'clock in the ?veiling aud want d??wn siaira to parrak? of the evoniu>: meal. He was shortly afterward* Joined bv hi? wife who had. n* usual, locked the door on leaving the bed room, taking with her tho koy. In about fifteen or twenty mi mites the doctor had occasion to look at his watch but recollecting that he had left it in the b.^d room, ho requested Mrs. 0'.Sullivan to go up stair* for it 1 While removing some silver plate front th< dining room to a c ount situated in the ball on the Aral floor, bofnre complying, she observed a strange man pass down the staircase and through the frontdoor. To Uiiaclrcum stance she attached no importance, aa the top floor of their bona*w? occupied by another family, until on au preaching the bedroom She found a doer open which had alwaye been kept locked, with the key left en the inside STh? ,o? was turn* oa t?zll blaze, So bureau drawers lied oat and a portion of the contents thrown on the ot. lira O'hullivan loet no Umo in laformtng her nusband of the eccnnrence, upon which the ftaU'amoaot ..I ?*"*8 *?* a*OTUi"?d- The robbers did not omit taking every article of clothing belonging to tho ?***> ?<>?"?? '-at tho dressing gown he Woni at the time. Information was at once giveu to tho police, and the services of detectives McGifibey and Wanneaiy secured, but up to yesterday evening nothing bad been discovered relating to the disposal of lhe stolen property or the whereabouts of the thieves. On the same night a lager beer saloon and six other bouses In the neighborhood were entered in a similar manner by members of the same gang, who. It would ap pear, do not confine themselves to no use omit us, as it bas further transpired that a .antle men named Well, while crossing Tompkins squaro. on his way from Cooper Institute, a few eveuings since was knocked down and robbed of his pociefhook. Tho question may here be fairly suggested, where was the "blue coated guanllau" that be should bo ?lcar to the cues of the unfortunate manf The foil'?, ing incidents ma? serve to throw some Uglf ~ Tho manner m which those miscreant* obtain su in'i hi into the home* of their intended victims. About twelve OV.Tiite If r#0"?UF person railed on Dr O.ullUan and elated that a neodlo had run luto bis wtei Il'i,r#i>f a ? ?a,l,r part of 1,10 morning, which he wished tho doctor to extract On beiog questioned wnv ho had not attended to it before, he said he -Mudn t every articha'I'n" tl'" n?V''r "yiug closely very article In tho reotn, mechanically noswonnu ih'e ?uitS h?"a pn.* t0 h'm" H" ?PPesrsn' p did uut exUiy suit tho doctor, and he was couseq rently condneted 10 the d?or on another m cason, du'ring a' hru f Cnce ox nr. u>., libout moo o r?o k, a rouvh liHiirincp .ana tomer applied at the door lor something to oar n-arc ly steinr'ho, b" rushed pasf Ihe'eViaot up stairs, but was lortunatelv m-'i bv a aoiitleman r? ^h^aboutl* "b0 'BriU,"|y !">?? t'" tellow to the" QtUBTERLT REPORT Of THE STREET CuHilSSlONER. Mr. Georare W. Mclean, the new Street Commissioner, has Just made his first reimrt to theCoramonCoun. il. The report Is for the three months ending on the 31st of iMtner^her. The rep.,rt is as follows? V.LJ conln?' ,f' have been awarded during the " estimated amount of $420,127. while eighty-three contrai ls are still in progress, and tor which final vouchers have not tieen drawn The amount or work done In the Bureau of Street Improvements during the quarter is as tlinated at if* em Amount of requisitions drawn by aaid Bureau.14114,.4 The >uperisteudent o! Wharves expendod ao cording to his report ? Mi~ The Superintendent of lamp. ,?d Gas expend.'^ areurding to hie report mm *11 The Superintendent of Un-N and PUe^ 'e'x iVud' ?<1 according to hut report 1 an The Superintendent of Ke|iairs end Supplies ex. pended a.-< onling to his report ... ?"Krlat0M of Rna(l' accord*, inu !?? hi* report .?.tAA Tha Deputy Sup.Tiutendeiii or Rep, r* and Bop. piles expended according to hla report op o,,.. of roiVorar""/?' uncoil.cted in the Bureau Sm .f>l'^lor"r Assessments on lb- 1st of October was ILZ, .K {srsrj/s' r ?"muh .?V .rUar*#d M> the Collector. Thomas iV- osn 5 the aggogate to the -urn or $S??^080. Agaiuat thin large smo ut the said Collector ha* h-en credited with $IA0.152, li-lng amount or turn '?f collectiona. and the ?um of $82,300, hemg amount transmuted the Clerk of arrears on1 ass-.-ments returned uncollected, leaving ?, balance In the hands of tbo Collector ol \aseiwmeuta Iri^ roeTi!'-?n 'h* ;",t (la' of l??<*wber."V,?f faR4,ti24 for a?.*?eNNineQU uin*oii?rt?d There has been tran^rndtel to the Collector of Assess IbTilf* ,'SS ml" "* Mr McLean call* attention to the condition of th. SSTt^Si-??/b> ,h' "hd 'Irges te. Common Council to take action in the matter. NBW JERSEY INTELLIGENCE. ?IrrafT f'lty. A Bo* Run <>t?s nt a Can o* tu? Cut Railroad.? A little boy named McCormick wee amusing himself on ? pile of now In Montgomery street, near the terminus of the Hoboken bono care, at hair poet nine o'clock yes terday forenoon. H* supped and rail just w a car was anting off, and it paewd ovet his left Mr, mutilating the flab la a shocking manner. Ha received medical attendance promptly, and wat pronounced out or danger. Tub Allmhd Attshit to lit** a Sets.?The further hearing ef the cam of Hobineoc, the colored man, took place yesterday before Commissioner Jackson, who com mitted the prisoner tor trial. Undents City. Tsjai. ro? arotuTHis.? A case was tried on Friday aficrnoon, before Justices Loder and Poet, in which Merle U Karle, of New Onrbam, was plaintiff, and charged Istills Mitchell, a young man residing la Tnton Hfll, with seduction and being the father of her child. Mr. F. H. Ogden, of Hoboken. on the part of the town* ship of North ilergon, conducted the case for tbo plain tiff, on the ground that tbs (tret-seer of the Poor should he indemnified by tho putntlro father of the child Mr. I<eon Abbott appeared for the defence. When a number of wltaeseea had been examined on both sides tho jus tices announced that Uioy Would withhold their decision till next Friday afternoon. The defendant wan married n few days ago, which ?c*me to ba?o eiasperated the plaintiff and tier friends. Bergen. Fireman Aanmri or Unucbnssd Liquor Dsalsha? Patrick Feeling, Adam Bender and William R. Itieh were arrested yesterday morning and taken before Justice Reitly on the charge of selling liquor without license. Irish paid the required flue; tho OtMfSdsningded * tr si. vRrjilch wa tlxed for next jtstnrday." THE OCEAN YAC^T RACE. OUR PARIS COP^SPORKNCt The Banquet in P?/|? to the Owner of the i/teriette. Paris, Jan. 18, 180T. On Thursday e amiag, January IT, a complimentary dinner was give> by a number of American gentlemen in Paris, with t*e object of expressing their esteem and ad miration fy Vr. J. 0. Bennett, Jr., and their pride in the fealVhtrti he has performed. 'rhedlnner was originated by a party of twenty gen *t!emen, which was subsequently increased to thirty, and for several days before it took place applications came pouring in to the committee by scores for opportunity to participate in the feast and the ovation. The originators of it, however, preferred that the party ahould not be too large, and when it was seated at the table it consisted of thirty subscribers and twelve invited guests. The dinner was given in what is known as the Baton de Zodiac of the Grand Hotel, which was elegantly dressed for the occasion, the walls being hung with fes toons and the intertwined Hags of France and the United States. Upon the table It seemed as though the resources of the immense establishment had been concentrated and exhausted. A number of elegantly arranged vases of llowers and rare fruits were placed in the centre and at each end, and between them several richly ornamented silver p'eces. At eight o'clock, the guests having all assembled, were seated at the table. Among the invited guests present were the guest of the evening, Mr. James Gordon Ben nett, Jr.; Major General John A. Dix, United States Minister at Paris; Mr. John G. Nicolay, United States Consul; Mr. Randolph, Vice Consul; Colonel Warren Hoffman, Secretary or Legation; General Dodge, United Ft ales Consul to Hamburg; Messrs. Knapp and Butler, of the New York Yacht Club; Mons. Delaage, of the Paris press; Dr. W. K. Johnston, and Mr. Edward Gould Buffutn. Mr. George N. Kingsiand, of the New York Yacht Club, presided, and was seated at the centre of the ele gantly spread table, on bis right Mr. James Gordon Bennett, Jr., on his left Major General Dix. The dinner was one certainly upon which neither ''palnB nor ex pense" had been spared, and the wines, of which there were soven different kinds, were of the finest quality. Titr. rill or xark, elegantly printed in blue upon white satin, was placed before the plate of each guest, and of which the fol lowing is a copy? y COMPLIMENTARY DINNER, t j TKNUKKKO K> } s JAMES GORDON BENNETT, Jr., | Aad hie brave eompaaiooa. J * In commemoration of their victory In the celebrated J < YACHT RACK ACROSS TUB ATLANTIC, J s By a few of thetr frtendx in Paris, * $ AT THE GRAND HOTEL. $ $ On Thursday Evening, January 17, HOT, ai "X o'clock. $ } ? > J MENU. ; i POTAOE8. j < Bisque it la Pertgord. < 1 Croutes grattneei au consomme. 1 } 11 ore d'onurre. J > Crevettes d'Ostende. * i Urenioskl it la Poionuiae. , f RELEVBs. J > Turbot k la sauce rtehe et Hollandatse. " i Filet de houif h 1 Union. 1 i ENTREES. 1 J Belle de Cbevreull k Pagra-doui. ) j Supreme de poularde a la Marerbule. ? ! Kilet do Narceliea, sauce Biipirade. i > Ci'telette* do Honiara h la "Henrietta." 5 } Sorbets au vln de Tokal. } X ROTS. i 1 Faleans trutTes k la RS genre. j j Saladr u la Russe et xalude de Komaine. > . Pales de foies eras de Strasbourg. J ENTREMETS. I < Aspergesen branohea k la FTancaise. 1 J Petlts puis mauveaux k Ik Paysanne. { Supreme de fruits au Roeolis. } PATISSERIES. I Croquenbouehes forme on me d'ahondanre. , Gateau x v leanots giacea a l'Oranae. *? GLACES. } Bouskan piatacbee et Cbeeolat. I DESSERT. > ! rnamra ma vie*. mmm srbvic* J I Modern, 1882. Chateau Haul Brinn. 180 ? 5 Bordeaux Canlenar, 186). Chateau Yonem, 185H. J J Cliablla Moutonne, ISM. Romunfee C'onti, 1864. } Chateau Palmer, 110. Roederetv Frappe. 4 Cafe et Liqueurs. | When ample justice had. been donatoiha dinner tbe Presldon', Mr. Kingslend, arose and gave aa the first least "The President of the United States"?music, "Hail Columbia." This having been drunk with cheers, the next was given:? "The Kmperor of lbs French"?music, "Partant pour la Syrir." Von". Delaage responded, and referring to the ancient frie-dshlp between the ?>eople of the United States and Kronen, hoped it would continue forever, w Betore giving the third Wa?>, Mr. Kingsland mild-? r*** ill ^-Ting to pro;x?e the totfi which I ath about to olh>r. I shall occupy jrotir attention but for a few moments, leaving to others the agreeable ta?k of more fully expressing those sentiments, which I should wieh to convey. The occasion which lias brought us together to is an occasion, the recollect ion ol which will not aoou t>e effaced from our minds. It is to welcome tbe arrival of one who has accomplished a feat unequalled In the annals of maritime sport, an undertaking from which more timid spirits would have shrunk. There are those, however, in whose vocabulary there is no such word as fail; who, defying all risks, ever press on unffinchiiigly, and by their very determination sur mouut those difficulties, before which the more timid quail, and to which the feeble succumb. No holiday excursion tins, where frc-h water mariners spread thnr sails to the summer breeze. The time is mid-winter; the scone the broad Atlantic?what though the December gale lashed the ocean luto foam, or the fog encircled htin with its man tle of gloom, still with stout heart ever striving, on ward. onward, ever Ids watchword. He knew no rest, no slay, until the goal was reached, tbe victory won. Hi- reception has tson such as became the victor in such a contest, ami his arrivA) was ihe occasion of an enthusiastic welcome by those who. accustomed tliem selves in,brave the dangers of tbe deep, could well ap preciate the spirit which impelled, and tbe skill which gu <led him across tbe waste of waters. But if those of another land, hound to him by no other Ua save by that foelitij of admiration wh'cli a gallant action gallantly perlormed must ever command, could so warmly receive him, we, his fellow country? men, testify to him to night how much we appreciate the deed, which has won for him a glorious name, and for American yachting the foremost place. I give you "Tlio health of the guest of the evening may his victory nobtv won be a presage of many tru tnphe la tbe future The Presideut ? remarks were retcn cd with tremend ous applause, and Mr. Bennett upon rising to respond wa? greeted with a storm of choers which continued for several in in i ten, th- gnosis rising and giving tbe "hur rahs" in tho must enthusiastic manner. mc manrnrr's srEwu. When they had subsided Mr. Bennett mid- ? 1 thank you meat heartily, Mr. President and gnntlo men. for the very kind and flattering manner in which von have received me, and for the terms In which you have been pleased to express your pride and gratification at Ihe success of one of your countrymen. The pleasure with which tbla enthusiastic reception overwhelms mo is full compensation for any and all the little trials and troubles which strewed our path across tbe Atlantic. On behalf oi my associates, the gentleman who accompanied me. and on my own, I thank you, Mr. President and gentlemen, heartilv. Mr Bennett's remarks were received with a " three limes three; ' and having been called upon by the pres ident, Mr Rdward Oonld Ruffum arose nod said : ? M' President and gentlemen?Among the many char acteristics of onr countrymen there are, I helleve, three which no length of ao)ourn In foreign dimes can change or deteriorate, and which rwqulre only oppor tunity to deeelop tbemselees to their fullest extent. These are a disposition and willingness to make a " little speech" when called upon, although, of course. " totally unprepared for the occasionan entire and unqualified admiration of and willingness to participate without much bard persuasion in a good din ner, and above all, Mr. President, a gratification and de light in doing honor to brave men and heroic deeds. (Applause.| It Is for this purpose, sir, that we, gathered from varloun sections of onr common country, are here to-night to axbiblt by oar presence and participation our esteem and admlratio* for our honored guest?this brave young man who ba? Jest added to the world's collection another noble specimen of American ptock and dating, who bas made the stormy Atlantic a pleasure course, who has written his name highest on the list of bold and ac complished gentlemen navigators, and linked It forever with the maritime glory ef his country. (Cheers.) Purely practical men, with bnt little ol that* generous, glowing enthusiasm in their natures which inskee the heart heat quicker and the eye grow brighter at the recital of brave deeds, might flail to see the utility or tbe moral pluck of such a feat aa hae Just been performed by your guest. But, sir, It needs, 1 think, no very profound acquaintance with physiologi cal or mental or morsltphilosnphv to approbate tbe fact, that the sentiment which inched him to step on board the Heonelta on that cold Dei ember day?behind htm family and friends, above hint the overcast sky, beneath him the ueqth of waters, and before htm three thousand miles of ocehn?was of the same character as that which inspired the Roman youth to throw hlinsolf into the gap of the forum, and requires only to be called upon to de. vota itself, aa Indeed in his case it has already done, to the defeni e of his country in her hour of neod and danger. (Tremendou^applanso.) Some men may afibet to depreciate ihe manly qualities which inspired the act, but the news just received by cable of the enthusleatto reception which our countrymen at home gave the re sult show that they appreciate It and tbe man to whose presence, skill end courageous example it i? mainly due. (Cheers.) Mr. 1 "reeldsni, may we not look beyond tho here fhet and accept the short snrceseful passage of the Henrietta as a happy omen f May we not hope that another good ship, like her?though buffeting tbe wave* of a stormy sea, with heavy clouds sometimes hanging over and oh sen ring the sky above her?may ride in misty over and through tbe wevaa. that the clondi may give flees to a glorious sunburst, and she, that good old ship, freighted with the rich cargo of all our glorious memories of tbe past, of ail odr bright hope* for the future, may come selling 'nto a peaceful haven, with her starry flag float leg freely in 'be breeae of morning, with not e timber ?hlvered and not ? spar carried away?that goo J iblfj our common country, (Tremendous Yscbi Tbe fourth War tout w? The fcew Tor* Yscni Club and Its representatives with ua to-night. (U> ^Fifth?TU#1 Press. the exponent of clvillxation In ev?y UDr. W. E. JofWBTonn said:?I regret that I do not pee ress the happy faculty which some gentlemen oo thinking on tbetr feet; but as for Ihe prew? that it and ita representatives ore P'?"?*?''., Yt plough their way through the world-lam ? hare ixn one of thoee who are permit^ w particlpate in the festlvitiee of this occasion. I well rooellect when, eleven or twelve yeara ago. I drove down the l hampe F.lysW-g with a small boy who asked me a great many questions, and, among others, "how many language# wae necessary to talk and write to be a goad newjyaner editor?" And I said to myself. "Someof thesedaya that will be a large boy and a clever editor;" but I had no idea that he would ever be so large ? man as be nsa Cwn, and bold enough to accept a challenge from th t gentleman sailor of England to sail with him. (Laughter and applause.) I thank you for toasting "The Prees." Our guest of the evening le a living evidence of the reepectabillty of 1U products. (Loud CUS regular toast?"Commerce and our Commercial Relations." Mr. 1. G. Nlcolay, United Stales Coueul in Paris, responded in a few humorous remarks. , At I be close of the Consul's speech the gueste retired to (he drawing room, where coffee and /w/uswrs were served after which some of the older and more sedate having withdrawn, some impromptu entertainments in the wav of singing, music and imitations were given by MmsrtfFoote, Crane, Inman and Willetts, and In the uS hours" the ptlrty broke up, aU expressing them selves as having passed one of the most agreeable even mirahly, aDd the occasion will one of tLo pleasantest and most delightful. The Firat Ball of the Heaoan a*tfcc T"W'r^^ The Court llresses?Tl>? Emperor and Ere < onarntnlat.ona of the Empress to Mr. James Jr.-Conversatloa Between the Ya? htmaa and the ISoverelgm, dfce. J&n lg( 1W7 The first grand ball and presentation of the season took place night before last at the Tuileries, when the anx ieties and hopes and wisbee of the happy pariiee pre bp Died reached their satisfactory conclusion, and about which time there was, in all probability, a vast deal of grumbling among the unfortunate ones who had made in due form their applications to the Ministerforthe honor, but who bad not been blessed with invitations. I am informed that the pressure is greater this winter than It has ever been before. 1 presume Mineral Dlx will be careful not to encroach upon tbe liberality which in the matter of presentations, has al ways been extended to our countrymen or run, the risk of receiving a repetition of the hint which ll Thouvenel some years since gave to Mr. Day^n-thaf althtHigb verv fond of seeing our countrymen and lair eoun *trv women at tlio Tuileries, bethought thatin point of nnvntinN th?? rather excot'dod the proper iimua* Having been prenented to their M^ie^ios **wnl 1 ago, vour correspondent lias the happy Pr:;. S?TS,BW?SS trimmed with gold lace, a gold stripe down eac: h side of the pantaloons, a buff vest, corked hat andisworff I reached the Tuileries a little beforo nine, an already tound the "Sallo do karecbaux crowded with people awaiting the entrance of theLmperor and Empress from the presentation room. They canio in ? " The*Emimrer was looking remarkably well .n good color and flesh, and certainly of an entirely ^nerenta^. pearancefrom when, three months since, 1 saw him, pale and careworn and wearied, at BJarrltx. 1"^' bis labors and bis Infirmities, and his Mtf-niM years, his Majesty must still be in iwesession of strong reon ^The'Empresr^wav magnificently apparelled in a^drere composed or a number of skirts of.tulle, ^ thrr outside one a little shorter than the others, trimmed with 1??tss and festoons of ivy almost covering the upper skirt, which was looped up at the side with wild roses. A wide emerald green velvet ribbon attached stray hronchro. and formed a sash falling to the edge of the skirt be hind. Her belt was a sort of Swim bodice or kkm sclier " composed of a fine network of poarkfc isaa# rubies, emeralds end diamonds. The eomm um? trimmed with ivy leaves In took tre^a with enormous emeralds, set la diamond* ana wd berths was fringed with diamonds. Her Majesty wore a necklaoe of omeraldo and ^ monda, matching the btoocbee ta the corsaga. a The coiffure waa of ivy leaves, with a rose of tod diamonds glittering In Ita foliage in front, while pop (teats of tiring* #f diamonds wore waving from tit braids of her hair at the back. ?borne of the ladies' dream were vary extravagant and eccentric. Th? Princess Metternich wore a very fttlt underskirt of wblt? tufle?puffed round the edge an* trimmed a little above with bouquets of pure wblta ro*es with leases and foliage, having the efffect upon Ud eye of a green fringed parterre of flowers. ,flfflk!rt was nearly coverod by a tunic of the BjikJe known aa red poHc?uv, neither scarlet noj crttSson. hot something between the two. The lijaic vxs bordered by two rows of narrow gold striken, a splendid necklace and coiffure of rubies and gtgUhnds. , iilS UESttBXttaTt.Jiul and longest trained dram woe that of the OOUBtess Klmvky Koraakww, wtrtok was or silver gn^W. or Utile, shot with silver, over a pearl grey satilMhe skirt trimmed with a garland of flowers? crossing iu front a string of diamond and rubies, hew ut> bv a crescent around the skirt. Among the ladies tlie "empire robe" waa the exception, and white ins prevailing color. Most of tbe American presented were dressed in admirable i.vtc. Tin. curst* ok tbk hksrtwtta r*ras>TFr>. 1 gave yon in my last letter a list of the Americana to be presented. The only chanje made in this was the addition of the name of Mr. Jumca Gordon Bennett, Jr. who only arrived iu Paris a day or two before the bail. Upon his name being forwarded by the Minister a court re-ponse was immediately received, and during the even ing Mr Bennett was Iho recipient of many compliment? and congratulations from bis Majesty's guests. The Emperor and Empress, Indeed, had set the example during the tirnsenlatinn ceremony. It is well known that the Eiu|ieror has exhibits! ? great deal ot interest in the result of the recent yacht race across the Atlantic, nnd it Is now said that in the international race* which are to take place at Cher bourg in tbe spnng bis Majesty will be present, and that bavins express d a curiosity to se? tho Henrietta, l?e will go on board of her. On Wednes day evening both he and tbo Empress bad an oppor lunily of exprciwiug lh? intercbl iliey h*v? taken in Uit niai tcr, ami both ?lid ho in Ihe kindest and moat amlab.e 111 When his Mq)esty p issed dow n the line of Amerirens who were to lie prosenied, in siiout the middle of wbi< n flood Mr..Bennett, fleneral Dlx presented him to the Emperor as the winner of the great yacht race. " \h " said the Emperor, in English, "I have been very much Interested in It, and congratulate you, sir, upon your success. Wae It not rather a bold expert m"AH experiments are bold, your Majesty," replied The Kmiteror smiled one of his grim, sphynn-llk? smdes, and looked at Mr. Bennett, as If half doubting whether he had not received a valuable suggestion with a valuable moral, from the yacht man, and paused in a*, patently a meditative mood. The Empress came smiling along the line, and upon reaching Mr. Bennett, and hearing the name ' Henrietta"* pronounced, her Majesty addressed Mr. BenneU in French at first, which she afterwards changed into English. . . . ??Was it very dangerous, your voyage?" asked her iSr'lieoneit replied, that it probably seemed more dangerons to those who henrd and rend of It than It did to those on itoard. to which ttie Empress replied that "She should not feel inclined to take such a trip; but hoped to pay a visit to tbe yacht." .. Mr. BenneU expressed his thnuka, and then th? Empress said, with one of her kind expressions of countenance, _ "I am sorry for those poor men who were lost on U?n Kleetw ing. and tor their families." Mr HenneU replied that all that couldT>e wa? done to save them, and that all deeply regretted tbo misfor tune . , _ Hut of the long Hat of persons presented?numbering twenty-six?Mr. Bennett and l'roreseor Morse, to whom the Emperor made some complimentary remarks, were the only once to whom eilhor the Emperor or Empress addressed any remarks. After the presentation. In the ball room, the Eroprose addressed a few word* to Mire Fuller, a voung laity from Buffalo, as she was being es corted by'Dr. Evao* to the suptier room. . , Among the Americau present who have the ewlirve were, besides Dr. Evan* Mr. lieckwtib. United State* General Commissioner for the Exhibition: Mrs. and Miss Beckwlth. Mr. Jamee Phalen, Mr. Hiram Hutchinson, Mrs. Eckel, Mr. J. D. B. Curtis, Mm Aine B. skihlleeker, and Mr. Edward 0. Buflum. (olowel Secretary of Legation, assisted Gsneral Dix ?t ?h* pm Mttation. The n?*l ball will b# on Ibn 30ih of Jabu ary, and I Isara that thore will be three more during the winter. THE EXCISE LAW?XMESTS YESTERDAY. John H. Zimmerman, No. IS Albany street; John H. Brewerson, barkeeper for Zimmerman: Joaeph Klnts, 404 Broome airaat, and Conrad Mantz, 614 Broadway, were takon before Justice Hogan yesterday, who held the accused potties to ball In $100 each to answer before the Court of General Hess Ion* for alleged violation of the Excise law. At the Essex Market Police Court yesterday there wa? bat one arraignment for a violation of the Excise law? nxmeiy, Charles Schell n", 4S Ea t Broadway. At the Jeflerton Market Polios Court August Wunscbe. of 98 Third avenue, was arraigned for selling liquor with out a license and held to ball In $400 to answer. s-mncLAa Btokt?Alijiobd Lahqbst.?Thomas P. Lyon, residing at the Putman House, In Fourth avenue, vesterday caused the arrest of Catharine Lyon, a native of New York, twenty-Ova years of age, on the charge of stealing from him a diamond breast pin valued at $200 and a $30 ring. According lo the complainant's affidavit before Jasttce Hogan the prisoner acknowledged taking the property from htm, and the pin was found in her poeeeaeloa, after which she admitted having the ring In bar format examination before Justice Hogrn ' nth* rine made the follewing statement:-?"J took the pin Irom htm for safekeeping; be tu drurV, i (was afraid he would Jose ft; I have been living BUb Mr. Lyon as his wife Tor two years " She of com > pie tdeuj not guilty; bnt the aeagisirntr detained rir namlna. tlon. Lyon ?ve? frMiirrly otie of the ilepulv keepers of tb* Jefferson M rket r>rii< n, at which time the defendant wee els. eniMnyt 1 tl. ro . cook or .a some jtb oanscity,