New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-02-06
COLUMBIAn INSURANCE COMPANY.
Third Meeting Of tho Stockholders yester-
d"y-Resolutiensp passed Appealing IN
1n'e''iKoting Commistee, and Express
Ing Distruss In tho Presideas and other
Oihcers.

Inc third meeting of the stockholders of TIL
columbian Marine Insurance. Company was held at No
III Dioau"oy the Auction Sales Rooms) yesterda,
AFTERNOON al . O'Clock, q large number OF the stock
uoiders being present A rather small estimate wa
eeu Oh tic present value Of the stock by these dolor
Gus gentlemen. who would probably have sold out viii
heE at two or three cents on the dollar at any hour
Many Of them regarded their investments as worth
just nothing at oil. Mr.. Phillips presided. and Mr.
Coudeit ofholated as Secretary.
The Chairman opened the proceedings by reading the
following
To The Stakeholder ofhe CoszJda Inswancs Company
GENTLEMEN: We the undersigned Of IN, o,r,
Insurance Company having noticed by the report of
las, meeting tina, felt disappointed bent pres
regardug the affair Of the Columbian Insurance
ana although some OF tie undersigned present
al said meeting We think proper state to you
that the suspension suddenly and unexpected upon
Us as Il ~ have done to yourseves tst the meeting Of
The Board, the 22d u surprised to find BY the
statement OF he President that the
dented losses had mpaed capital that would be
pTud TO any longer. would be- sotnr unusty
toward those doing business with the Company beside making
TIE stockholders exposed to even farther losse. than that
information IN our power q, to the o. the Com
psny beng compelled close the business without
advising with gu the subject, and therefore beg
state that the meeting the I'D u found hst already
one Of the largest stakeholder, had taken proceedings that
morning to place tie saT OF tho Company the hands of
Receve end thus deprive us of any power for consultation
with you on the subject.
In answer 10 the question which many have sked: or
what has become of the capital have referred them to the
enormous amount OF have been paid.
which have requested the Secretary to present you with
statement and in ourselves have only
say that IN this truly unfortunate affair have all along
acted e best OF judgment and in proof Of conf
donee in the company all hold large amount OF the
S'ock and many 81 Us holders OF the original amount we
sutsribC fo ind hope that good which Is
worth more 10 ia than all other suterinss will not be in
paired in any action which We have taken in the Company
Although the Joss will be heavy upon ALL nevertheless
hope that by good infringement Of toe Receivers consider
able may be be divided among the
Signed Geosge Min. Thos Barron WIN. n. Pophsm, Robt.
Bovine, Lawrence Myers Henry J. CaInmsnn, VIM. De
sEoot, Ezra Nye.
This communication was duly received and then laid
on the table.
STATEMENT or THE SECRETARY.
NJ. Whitney, young gentleman who is (or was
Secretary Of the Columbian Insurance Company. then
read his statement of the financial position Of that
Corporations which represented far our Reporter
could learn that about $40 900 the sole remaining
vestges Of u capital stock Of several millions. and
which apparently did not please the stockholders TO
very great extent. The young gentleman who Is Tor
vas) Secretary steadastly refused TO permit his vnua
ole compilation Of dgures to be published at the same
time asserting that the statement had already been
published in al obscure daily paper OF this citywhich
assertion was aitcrward strongly denied by several
stockholders.
The following resolutions were finally passed
RsschrL That the President, Joseph Morrison s.1 MI
receivers Of tho Columbian Marine Insurance
Co. to tie end that one mar be designated By vote Of meet
ing o. stockholders: and be It frrthef . ,
Rcsoed That IL the snd wish OF tie meeting that
application be made Court for the pupose Of placing
the affairs OF this Company in the hands Of person
wholly disconnected with the former management.
The President then named the following Committee:
MeRsrs Work, Seorer, Condert, Ogden. Tate. Philips
(Oy reQuest and Nc Lean Immediately after which the
meeting adjourned The Committee will hold meet
ing at Mr.. Couderts Office this morning at 10 O'clock