Alexandria daily advertiser. [volume] (Alexandria [Va.]) 1803-1808, 1806-03-01

q -,
WHEREAS she Board of Directors of
the 5amuai Insurance Company againstflfe
on goods asId tlraiture. N the state OF
Virginia, have been furnished with an an-
thenucated copy of some resolutions, Ell,
tered iuto by the members OF the comPa,
ny residing IN the town of fredericksburg !;
Sthe evident intention of which resolutions
is 10 call in questionable propriety OF the
! proceedings of shis Board, in requiring the
payment of two full quotas-Tberctare,
s. ,PssoEoed That the following statement
3 BE land hsiore tn. g>nerst meeting, winch
is 10 fake place on. February Am, 1906,
VIZ:
At the time when the award of the re.
w2errees, Ia favour of the claiaa OF MI. VIM.
: Beunet came forward, there was, IN the
funds of the company. including cash,
stock aud other facilities about $3.50 dolls.
/. The claim Of Mr., w M. Bennett amounted
tcs 1898 ds3ls: 25, and that of Mr.. Joseph
Cauby 20 5000 dolls. making together 1868
dolls s5s Tasse Two claims thus xceedlng.
by SO large sum, as 7543 dols.25, the
whole amount Of the funds. and other
claims OF Importance being daily expected,
the Board cf Directors had but one line OF
conduct TO pursue, whiehwasahat OF calling
for fultuuota, they did SO, and entertain
ed no doubt Of lis being cheeftully and
promptly paid by the members OF the com.
pauy, as the distresses of the sufferers by
= tE1e, FIRE 10 Norfolk, were universally known
and commiserated, and were eminently cal,
cuIated TO excite the most interesting ex
erlons for their effectual and immediate
relief. But even at the time OF requiring
this quota, il was the opinion of the mem
s@bers of this Board, that 1t would, by no
= means prove sufficient TO discharges all the
claims thar existed against the company
They however were disincllned to make
too great dranghs, at once, on the mem
bers, conceiving that it they could make
oartiaI payments Of considerable amount,
70 the claimants they would consent to ID
dulge 4he company With reasonable TINS,
Cor the payaent of the remainder. liz
these ho9es the president and directors
were disappointed. Not above two o.
three members having manifested, by pay
ing their quota, disposition TO act up &c
-. =: - of nal p'RdoeersiA-'I IIVfs
: the president and ~direesors were destined
TO bear the repeated and pressing imrortu
mites of suffering claimants, without tn
power of satisfying their righdul demands,
or of6escaping the imPu,ation of neglec}
of duty, aud want OF feeling for the sui.
ferings of the unfortupate.
When the claim Of Mr.. Joseph Andrews
for 10000 dolls. was presented, and ]
was found that the wan, Of promptisade.
on the part of the members, TO enable tn
board to pay the debts Of the company.
: had got into general circulation, and alsc
!. an opinion that even II all the member
paid one quota, that the company wouic
stu be in arrears, and 1t would therefore
be imprudent and unsafe TO insure property
init, the board Judged It advisable to- cal
for second full quota, and resolved tt
, Use the bes, means to secure its speedy col.
lection. In addition 60 the desire OF re
). leviog the suffering claimansa, and OF re
) storing the reputation OF the company, the
members of the board were Simpellrd t@
3his measure, by "a motive of positive ant.
prescribed duty, which for the conveaieacy
of the members at large as aforesaid, they
had not fully acted up TO, in the previous
call for one quota, but which it seemed no.
: iuat to the claimants and dangerous to the
institution longer to delay. The point OF
positive duty there alluded to, is 10 found
/. in the act OF the General Assembly, BY
which the company was Incorporated. 1t
Is there declared that, these quotas shall
be so rated as TO raise and keep up fund,
SO that the interest thereofmay be deemed,
by the president and directors, suGicien; to
pay the annual losses and expences"- aad
In art 81, sec. 1, OF she regulations of the
company, it is laid down as rule thai,
+" Thesums of the original premiums shall