Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1854-11-17
.fof N4Iipn'. Lou nal.
Vermont Mutual Fire Insu.
rance Company.


rance Company.
Can the Office Of Director and that of
Secretary of the Vermont Mutual Fire Insu-
rance tompany b. both held by one person
at the same time. or Toes the acceptance OF
the latter office necessarily vacate the for
mer The fourth section OF the act incorpo-
rating the Company, among other things pro-
Vldes that the BOsrd Of Directors. which Il
to consist OF not more than nine nor less
thau i've members "shAll have power from
time TO tune, 10 appoint a secretary, ueasur-
er aud such other officers. agents and assls-
tanis as to them may seem necessary and
prescribe their duues, tiS their compensa-
ton, take such security from them as they
may deem necessary for the faithful perfor-
nance of then respective duties and them
remove at pleasure"
Now, are not the offices Of Director and
Secretary Incompatible, as much so, at least,
as the Offices of Judge aud clerk OF the
county court The Directors appoint the
Secretary. prescribe his duties fix his com
pensatlon take security for the faithful per-
Torrance Of his duties, and remove him at
pleasure. Can any one be a member OF the
Boa6d having these powers and at the same
time be the Secretary To say that he can,
would seem no less than to say thsi he may
exercise his powers as director IN his own
behalf Just TO give hIin the appointment Of
Secretary, afterwards to fix has salary, and
should occasion require, TO save himself from
being removed
These questions are submitted 20 the con
sideration and decision Of the members Of
the Company IN no spirit Of hostility TO the
institution. Onlhe contrary, have .Ong ad-
mifed the able aud successful management
of RS affairs by president and directors (;
but learning recently of the removal of
director IN whom the public have entire con-
fidence, and The filling his place by giving
the Secretary the additional office and addi-
iional pay of Director. - thus virtually in
creasing ms salary without a special vote
Tor that purpose-ard believing the office
and duties of Secretary and Director to be
incompatible with each other, aud calculated
10 weaken the confidence of the public in
the safe and prosperous management of It's
affairs, respectfully ask the members Of the
company throughout the State of Vermont
TO give the questions have prupounded that
serious and deliberate attention, which. IN
their judgme ni their importance and the
prosperity Of the company may demand.
A MEMBER.
The shmo objection exists as 10 the office
Of treasurer also, We think justice to the
clerk requires US to say. I'd.
Bin Holders - BEU.iRE i-Examine
bonk-bills before you take them the bills of
great number OF Broken Gnks are clrcu
laung through the community; tor protection
we furnish the following list Of the Bank
failures within the past week or two.
knlcSerbocker Bank, ~ Y.
Eighth Avenue Benk, y. Y.
Suiialk Bank, MY.
Lewis County Bank, \. Y.
Bank of llallOwell, Maine.
ship Builders Bank, Maine.
Brunswick Bank, Maine.
Bank Of Milford, Delaware.
Kentucky Trust & Banking Co.
Newport Safety Fund Bank. Kentucky.
Erie & Kalamazoo Bank,
Savings Bank. Oho.
Bank Of Counersville, la.
EikhaH County Bank, la.
Northern Indiana Bank.
Farmers & Mechanics Bank, Memphis
Termont Insane .isy'lm. According "a
the annual report OF the Trustees OF thus in
stituton we learn that the results for the
past year were never more satisfactory NOT
gave better evidence of the zeal aud ability
OF those who have discharged the trust com
United 10 them. We axe Tue loio"'"s
s'alisucs ron lhe report.
rive huhoroa anu t.ilr'y -Phuen's n' III Gu
Joyeu rne oenen's VI uie lns'lu''on' ineI'
l03 have been admitted; lac have beer
discharges, ana o. Ie'i'a' "a ~ ''ie ins.,'u
ueh' oo vi ulose o's'naIguu, oO nav .eoos 'o,
60. w 9'a'e piue,'0a,,.s "s ~ enoy ~
, ,so uenen's OF uie ass'uur ,h "ras We. e.
los at ule commencement, OF ."e Ye" TX
nsd and 80 remain OF those discharged
81 rccovered--K - .4rrus.
-, 49,. O.. r..n5 w.
'"S'oM '"a','"'iy ~, rrsoe ~.
mot'Ieu 'ne o'ner Jay ~ ole "'a"s 49, ~ w.. ~
hoooh's q lawrence Nowp'n1 ~ III, W.
sge' oeanui9i lot OF aooul oo nia0ni" Go
Iue. 20" a"S ao' W ~. az ro,,f.c