New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1849-03-06
~aur,iu. Mutusi Life I'M. urauce G ompaey.

The matter contained In the protest Of 5. Colmsn
and others recently published 10 reference this Com
p.ov have bean submitted tie consider alton Of he
sepse sus afer fall md sirici invcstgl y the
,,rissnt Committee IN Bsnss and Insurance Coaga-
Mics OF that body they unanimously came to con
'B.,,, fully cxoaeratug them rom any charges or
,-,,iss eharscs connected vita the cement OF
tat fn,tlugion and their conclusions we're ssnconsd
he IN, -.ns,e without dis.cntng voice Below n"
-, If the committee together with statement Of
he asset, OF the Company % The I'd day u Feofu
sry ls4si
Reoor, OF the standing Committee on Banks AMI o.
.urance Cos 10 whom was reierIr' ates"ssVn =, 80
opiry of the senate into the STARS OF the Nsu"us
i,.,,r.rcs Company Of New York aud the snsseF OF
The company thereto Report they have asd lne I.'ou
tor and answer under consideration $40 oei.e -
answer Of the President under o~'n. iui 80 -
fu,.ton Of the implied charges sgsnst the
hi the sasrso The company The committee cannot az
notice tasf one OF the questions OF tae SUI
10 answer whether they have h"T'toi're ma nov
rr,pue - pay five dollars and % not ,hst vast sun 20
.b hi m. i-lsts.s Tor every Attendance AZ m'ehnss
of rho board TIE answer = ~ follows AZ e.u'"
meeting co the company held Nay SIS the soH'u ~
lr.f that each trustee Tor sttns7hct IN rFrll s'n
,.,stfrr should De allowed cod pad hve coHsfs lei
.,h .stensanc provided such trustees we're person
g Wifhn afteen minutes after t'e uinr mann
f.r such meeting sol remained una. tn' -1J lui-t'-
th.-eaf sd that in accordance With such resolution
thrv have paid that lcS every monIhy tnrtNu-
and A no oteer whatever OF the isncs OF the com
n-ny Inc sane having been considered matter q
sound policy 10 order % secure prompt snd Pah,'1
attendance from the members n the board Anl WIZ"
hss provcd useful aud beneficial % the company
TIE committee have nov particularly notced tur
question sud before mentioned from me de'ne
only 20 say that the course pursued 10 relation ~ ply
ing A moderate snd Reasonable compensation - 81
-sc,ors of this company meets their appreciation. and
were the practice adopted by the interpretations Of me
state generally, they have no doubt !. would Prot,
beneficial to the stockholders. Experience has taught
", TIA, soon after the formation OF corporation or as
soc alton when the principle Of srrcc naoi cfPfHsa
f0n Is adopted and when the novelty OF tueir posiuou
IA in manner worn of from the directors the shNrr
OF the company is under the control Of two or ihiee
active directors OF the concern, vale tne great nv
i1rity Of them DO not know nor sppsr nty cst' no"
~ sfsrsRre managed This may ana pT"oaOy uo''
arise from the confidence placed ia me lew VINO sIe
active by those who indooni In managing TIE aiars
~ an Incorporation Here the danger OF the stock
holder begins and he had better reduce his DIVIDENDS
little Il by doing be can procure the fu atteh"Aure
o the Directors AZ tie regular meetings OF the board
The committee aYpesi u the experience OF every
senator on this door point out sny serious or o'ss
trrus loss of corporate property oy the asoohesy o
agents or managers In which the books OF the concern
Did not show that the attendance ~ directors "Ss sua
thus furnishing opportunity for peCusiicn and iraui
by the few who did rot seut the regular meetings OF
The board OF directors. Tho committee, atnou.n tne
subject Of moderate and reasonable compensation 81
directors OF interpretations snd associations IL an
incidental connected with this report could MOI
refrain from expressing opinion upon suoJee,
which they conceive important 10 every siocshodsr IN
them IL importance would warrant more IAN eN
animation of s bearings sud me- ts aud would have
been discussed al large by them II time would permit
They therefore content themselves with noticing the
SUBJECT and trus, that n will attract the attention OF
stoc kholdcTs Ia those Institutions.
Ia conc uson they offer the following resolution:
Rssoirsd That the Committee be- discharged from
thu srher consideration Of the Resolution OF the sen
ate La relation 10 the Nautilus Insurance Company AMI
the answer 70 the Company thereto
JAMES VI COOK,
sANrON SMITH,