Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1877-05-23
National Life Insurance Company Of Ver-
mont
MONTPELIER. VI, May IS, 1877.
70 the PolicJ-holderS of the National Lift

MONIPELlER, W., may 10, 1911.
To the Policy-holderS of the National Life
Insurance Company Of Hernaont:-
1t having been ascertained by MS that
certain parties desiring change of man.
agement of the company in which you, as
well as ourselves, are directly interested,
and having good reason to know that such
change would be prejudicial to the great
interest we represent we, acting in good
faith that in no wise, through the efforts Of
intriguing men, should the status of the
company be imperilled, have, in accord
anc with the privilege given in the seventh
section of our act of incorporation, issued
stock to the amount of sixty-six thousand
dollars, all of which has been taken and
the amount paid in cash. At the annual
meeting of the company January 6, 1868,
the following order was passed:
Whereas, it may be for the benefit OF
this company to possess guarantee cap
ital,-
1t is hereby ordered and provided that
whenever in the opinion of the president
and financial committee it shall appear to
be for the interest of the company they
are hereby authorized and empowered to
create such amount of stock as they may
deem proper, not exceeding two hundred
and fifty thousand dollars, to be divided
into shares of fifty dollars each, and to
procure the same to be subscribed, and to
issue the proper certificates to the stock
holders.
When on April 4, 1876, a subscription
not to exceed one hundred thousand dol
lars was ordered, the following statement
and proviso were agreed to-
The holders of said stock shall be EMIT
led to receive an annual dividend Of per
cent per annum, payable one-half October
| and one-half April in each and every
year, but said stock shall not participate in
any profits of the business of the company
or its surplus.
The object of this issue is to obtain the
votes in person Or by proxy of persons
holding said stock, in order that the man
agement which has for more than quar-
ter of century controlled and directed
the affairs of this corporation, until in in
tegrity and strength it stands the peer o.
any in the country, shall be continued in
office.
While it may not have been necessary
to take this precauton could we but obtain
with ease the proxies of many policy-hold
ers at distance. or if our members coult
themselves attend our annual meetings
and cast their votes, we have thought bes
in advance of peril, to protect you in ac'
cordance as we believe with your mos
earnest desire.
We point with pride to the record o
the National Life Insurance Company, anC
refer to it as the pledge and promise o
its future.
julius Y. DEWEY, President,
CHARLES DEWEY, Vice-PrCsident
GEO. w. REED, Secretary.
Appended hereto will be found the re
port of the Insurance Commissioners o
this state:
STATE OF VERMONT, J
INSURANCE DEPARTMENT,
Montpelier, May 81, 1877, }
The undersigned insurance commission
ers of the state Of Vermont have this da,
made an examination of the finances 0
the National Life Insurance Company 0
Montpelier, in said state, and find the fol
lowing results, to wit: