, 1873-04-17
Position Of tho Company and Progress Of
tho Efforts to Settle tho
Estatc, =,
Statement by tile Preaident---sono
characteristic 0utbursts,
An Inner View Of the History Of n
slngularly Unfortunate Cor
poration.
a New Method Of Raising a'100,0 900 to
Comply With tito Stato Lav.


Iho condition Of the Lnmar funds il not sucb
as ita doaroat friends would desire to 600 nftcr M
long lapse Of timo, aud 30 groat IN expenditure
OF legal aoumon and forensic eloquencc. From
the day TnE TRIBUNE reported Mr., sbufo]d.,a
groat effort, for tho appointment Of Rccetvor
IN tho Circuit Court, boforo Judge WillIama
down to tho latest proceedings boforo Judpc
Gary, tho readerH Of this Journal have boon post.
Cd as to all that has boon done, which ali has
boon so little that 1t hardly worth talking nbont
1t Ia well known that Edwin 4, Wijson. NJ
Springfield, is at tho load of tho etookho1der.
who refuse to pay their aBsessmonts, and aro
lighting tho Company, but it is porllapB not ao
well known that tho Company, 10 far as itt Ia.
gttimnto nHaets aro concerned, should have tnoro
than enough to pay all it's dcbts. The dif1ou,tv
Ia, to reallzo those acsets,
Inc President OF tho dofunct Companv. Tam.
afd s"ott, has issued lengthouod statement t.,
thoRo concerned. After showing the preliminary
asop5 attending tho formation OF tho comnanv
In prosperous timoB, and isB lisaolution In 1aaa
Fortunate times, 1o says:
After about 100000 capital stook had beon eu,,-
%ys give, tho Company s,ooooe within ''n T9na yeas
oontr aafs q aossrbo wsrS ssssa sy
~ per cont 1T once, with tho coudlttou oxnrcsSad n
asa s INT after twelve montha they might
this subaernon W as ~ tna t 1ocK Ih9 onse Of
quirod By tho STATIC law, until It should realize tat
acquired that amount from those colleetiona tho
Intention was to retire this stock until tlloy should
ony h1a anenf tho same s'nonnt other Stockholders
nsa; r!ae'hg w 1soeS at TINT time was eoating tho
a e1 qnd arsn rs A. to
stock par rcnt m io ca,h ,ar,ran %eee W. PAY ~ IN
40 per cont pnd pnck nr s1I doG T. n., " W t y.
the course Of limo al tic snbscrintion was cancolm
according to tho terms Of the contract; and az
the uao Of tho fire. they bold $4,000 stock. On thia
Ssh,n1n sr ~ iua ontg tno ponc @ o. tno oompany
oss Of any ono x H. u 10 tAa
III tho summer Of 1870 Ncssrs. Ousiman Il Iiariin
put into tho Company capital tho sum Of SO 000
stock any obligation PROMISE express or Implied
ately grabbed aud divided 1t they would have been
without remedy, either at law or equity. II :waa
But hacShn,r in g1aif tho statute I'D security to
holder thers ia no reason In morals or law why thcy
% hs % oy thosh
wise investment, but hccaHsc they wanted to help the
and fSa g. thr1Hh Now
enough to pay off all IT, 1iabitiea without e1acting
from ouahmnn l. Hardin this $4,000, md tho only
question Wa8 H4elQAr llu HQuu dEn1Anu that
this money, intended eeoyy to tho policy holder,
should bo divided among The Stockholders.
At that time the income was cut Off. buaineas.
c1orks conI not ne Jisn,ssod nnt liz & 1ue
ance with Tho Peop'os was consummated, tAa
monthly run Of loHscs for ex months had aver
agol sit, 600 per month, aud OF cash assets on
hand they had S75 900 to 5l0O 600 whilst the beat
mar for Tcineura,co thny had roceiyei was from
sU0. 600 to S70. .ofo lila ,innnid oaaos annuntno
ho same m tme 70 S botwoan s 96n9s @ a'
DiS rnianS sno tollsutanee whs a o1dGesod @ #lth tho
pany wae ascertainod to owo 10000, which was
paid followed by various outstanding cla;ma,
amoi1ntfnr to An nr1rnrntn ~ Rtn nm n,1 4in,,
tho Ara ntTncl I'm e;fv Ho1o ~ p,osSa..t 49, .nen
a.o.1. -" ts;1s s3' @@eAo Aao aea'oeuI luaJ
epe"A 4ot a'4lteoa'
Previous to the fro the Company hold nearly $50
Of the 20 per cont. Thoso wcro mover collected. and
tbs namoa OF the makers cannot now be fully
ascertaned because, although tho building In which
the ofl1co was located was supposed 10 BE- Hro-
books aid everything destroyed except tho stoc
notos of Tie stoskh'lders These situated In
ta III mn auoat oushol OF Cancelled policies
afor s nssf fra y Meno Say aavea IN
taken from tho yauIt. and IN t fo,,nd t%sas
stock nqses; NO ono at hEs. kew Of tho preserya-
IN IN envelope b iself They amounted as sAi has
since been naccrasned, to over $1CcO o0O and among
Wouu Hoonor have met the evil one, h0ofa and horns
and all aud wondered why fn cl! tho burning, and
wnen e,x,e'fytn,ng ,,' cue connected With tho Conf
Too. 1Yhatoyer anvon9 nav thiaI ana sloao 9oaso
tho yos hayg H % n3 NY own noto p29r 1
others wanil hnvo fon ms vsso~ar NY no
have thought, NY duty was plsn II was a. balersH
sano onre 'e ~ the nonent
fnnpinu lin factHsnti kont ti,en, Il cin,at ~ ~,