, 1874-04-07
LOCAL MISCELLANY.



THE PROTECTION LIFE.
Ino regular annual moetIng Of tho stookhold
ora OF tho Protection Lito Insurance Cornpan,
was held yesterday afternoon, at tho o1lco Of til,
Company, No. 100 Madison street.
DR.. rowLEnfs CLAIM.
The meeting was organlzoa with President L
T. Hilliard In tho os,air. Tho clnim Of a daugh
tor Of DR.. Fowler, under policy on tho lifo oI
J. 8. Warner for $4,000, was takon up, bul
passed ovor, to awalk tho notion Of tho now Board
Of Directors, Tho moosiug then proceeded to
tho election Of D
noAnD OF DIRECTORS.
Three tollors wore appointed, aud slips Of paper
containing tho names Of Ill Persona who wore
"eligfblo wero banded arouud. Tho following
are tho namoa. l.. p. uilliard, i. s. Skinner,
T.. N. Skinner, Martin Ryan, L. T. Va1lotte. d..
". Eldred, Louis Wahl, \. nowott, a. McDor-
Gall, 2. ". Edwards, j. 3. Fisher. John Neid,
Pancoaat, q, u. Fowler, and d. ". Sims Thcso
oil stockholders, but do not include tho whole
number; but Why como stockholders should
DO allowed to vote, nnd others not. ap-
roared, to DO IN unanswered question.
After about twenty minutes consultation, tho
tvllers announced that tho following thirteen
: hnd been o1ccted members Of tho Board tor the
ensuing year. Tho numbers Indicate tho ;votcs
received by each Illliard, i, ,420; nyan, i,3B7 /;
va'lotto, 1854 Eldrod, 1,4lo; Wahl, 1,2ei !;
Rowott, l. .99l Edwards, 1920 Fisher, 1890 /;
Reid, 's9i Broea, 1850 Holden. 1895 Pam
coast, 1877 and Sims. 1,417.
Immediately on tho reading Of tho result Of the
election, the report Of tho Treasurer was read,
sats TaItsh f ass q as ssI Snt 3 sY5 esss,aa gfs
Gnlunas was stated to be 8lo0 s08; from annual
dues, e1s,o42.68 assessments, 2S23, ,849.2d ad-
vance assessments, a93,o57.7o;, restoratlons,
e3l,994.78; collections on asaoBsmentB,, 3d.
sis;oe capital stock, e95, ,7ooi sanary itoms,
Tho expenditures were: Commissions on
premiums, sGg, ,20e.oA; advertising, s1t37oo5
printing g stationery $91s ssla.
losses, ssi7, isl tsxes snd licoasas, %, ,1oo
Office furniture, s2,407.oa; ; loanB, $2,O80 com.
mission on annual dues. S2o49 commission on
ss stsss sss sSS 'H5Rsaf9s Hc 4scsag sa5 5 s sS55y
After tie T1oasuier had finished his report.
which was rcforrcd 70 the Board TOR auditing,
my aocount, alleging thai II was substantially
contained tn that Of tho Treasurer. Mr. Htttiard
than intimated that " that mnttor" might as well
come up, but the suggestion .was instantly put
down. and, after short dest1ltory conversation,
the meeting adjourned, with b vague feeling
hanging over tho assembly that tho most I'M
portant work had not yet been done. In fact,
tho presence OF reporter seemed to have d
chilling effect. An animated discussion on tho
Mr. nugsE1L .,
to vote WAS ignomiuiouaiy nipped In The bud,
and . stockholdor volunteered the information
that It Nas not anything particular, only family
quarrel, and need not DO reported. It appears
That Russell gave mortgage on some Calumet
landa to secure tho payment Of about $15,000 OF
stock. The lands woro afterwards aacertainod
to be nearly worthless, and q second piece Of
property was offered and taken "a security. It
was subsequently discovered TINT tho mortgage
10 tue Company was . second inoumbranee,
Previously, and before tho facts wore known,
The stock had been transferred to other partieH
aud It was clnimea that the stook, having baon
eraudulently obtained, was Illegal, and could not
tho Company to declare this stock void. aud thus
tie matter stands at present.
TllB DIVIDEND.
As tt is q worry natural thing to declare
dividend st IN annual meeting, the reporter in
CURED il no dividend was to be nude hIr.
Villette replied that the Company did not pay
sny dividends. only moderate rate Of interest,
depositod at Springfield. It was not money
mailing institution lit was in the st1ictest sense
peopie'a company. whore eaoh man got his
aoney'e worth, and the institution could not
noney-only received it and paid It oyer, Their
pittance was derived from the 25 annual dues
which eaoh member paid :.
No EKAMtNATroN.
Having heard 3 rlmor that q QnIet e1ninipa-
bon Of the Company's affairs was In progress the
reporter asked II such was the fact, but was
assured Il WAS not. About dozen examinations
has been mado during the two yearB' existence
Of the Company, but none had beon made since
january. Btntetnent was published Bome time
ago that the Protection Lifohal aome $60,0 Of
unpaid death-losacs In Ohio. and one OF tho
agents Was asked II such was tie case. Hs
admitted 1t WAS the foot, but said
that tho claims woro In many instances bogus
and that the Company WAS settling them up BY
compromise, and there was not more chan
$4,000 outstanding now. But it seemed some-
what strange that tho Company would sottle
large number Of claims when they were not
valid. And having obtained all the information
posaible tho reporter loft.
4 meeting Of the Directors will probably be
held in few days, but exactly when could not
bo ascartainad.