The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1875-09-08

that "helps business " SO much, and the
quarrel resulted in fight, in which Dumont
got the worst of it, he being considerably
bruised. It was reported that Dumont had
cut Brady's throat, but that is not true.
Brady got out warrant for Dumont on a
charge Of threatening his life and Dumont
was arrested and held to bail.
--On account of sickness, Miss Knowles
will be obliged to postpone the opening of her
school, two weeks. 1t will open without fur
Their notice, on the 18th of September. If.
For THE RECORD
The case of aLoan by the Mutual B. g. L.
Asso. to the Amwel Mills Co., has to some ex-
tent been made public matter by those who
oppose the action of the Directors of the
Building Association. That being the case,
there seems to be an opening for me to say
briefly what follows:
think the result of this controversy will
be unfor innate for the M. B. & L. Asso.,
whatever it may be to the Amwell Mills Co.
from this fact, among others. Those who give
their time and best Judgment, without CON-
PSiAoUeAOht
they have been called, dislike to be publicly
censured by those who have invited them to
this unpaid service, and consequently it may
not be easy to get competent men to serve as
managers of our Building and Loan Asso. if
the policy of these uneasy stockholders is to
prevail.
1t seems to me that when we have at our
a. f,,aatinO alaatad hoa ri Of torc
to manage our business, until their success
sors are chosen, we must allow them to do i. in
their own way or anarchy and confusion will
certainly be the result. If we have the right to
impeach and remove for malfeasance, let it be
so-but if every mistake or misjudgment
(real or fancied) our directors may make in
their management is to be the subject of con-
troversy and stockholders meetings and votes
of censure, fear its usefulness (great as it
is) will be sadly impaired.
The management of our Mutual is largely
made up of those who have been concerned
in directing former associations, and this is
the first instance in which their acts have
been in any way called in question by the
stockholders, and for what is it they are criti-
cised9 For agreeing to make loan on
property that year ago seemed ample Sc
curity. but that now, with the light of years
experience in which to view it, is thought
by some stockholders to be insufficient.
1t seems to me, Mr. Editor, that our board
of directors, being responsible for what is
done, must be allowed to do it in their own
way, without dictation from outsiders our
own self respect would hardly permit US to
think that they would not do from choice
with full knowledge of all the circumstances,
what mi Int be got from them by reprimand
from few stockholders whose minds to
great extent have been biased by ridiculous
stories and distorted facts. There is a way
provided by the constitution and recurring
once year, by which we stockholders can
condemn the management Of the association
ii we sodesired. Any departure from that con-
stitutional and regular way will fear work
more harm than good to the association.
A word in respect to the Amwell Mills Co.
1t is possible that the property of that COM
pany could not be sold out under the hammer
for enough to pay all its debts, mot because it
is not worth far more, but because all kinds of
ent). But on the other hand it is a company
that believe has always heretofore paid
every demand against it at maturity. From
one who knows ] am enabled to give some
items connected with its operations.
For the last nine or ten years it has given
almost constant employment to about fifty
hands, paying out in wages alone about
thousand dollars per month.
1t pays nearly a thousand dollars year in
to the city treasury as taxes Its payments
for other purposes that go directly to the
advantage of our city will aggregate many
thousands of dollars. In round numbers it
has paid since its organization 1896 more
than hundred and fifty thousand dollars to
the laboring people of this city, while its
stockholders have never had one cent either
of interest or principal for their investment
Can it be Mr.. Editor that they who have had
such large share of the benefits flowing
from the business of this company will be the
first to throw a stone in its way.
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