The daily gazette., 1877-07-10
lion Of the COMMITTEES in changing the

charged q premium Of 30 cents on the
500, while the German American and |
Niagara, both strong companies, were /
willing to take the risk at 27a cents.
The idea of the committee was TO re 4
duce the amount OF the insurance, and |
also tie premium rate. Under the |
resolution passed, II the home com
psnies charged 40 cents the Board |
would have TO pay 1t. By insuriog In |
the home companies the Board has to
give Its premium notes for the amount |
of insurance, and he thought that Nh
der the new charter the Board had no |
right TO give notes, to say nothing OF |
the risk the Board runs 10 case 0f |
great FIRE. He cited the case Of the |
Delaware Mutual Company, Of this |
city, which, when, given an insurance
of $4,000 on one OF the schools, only
assumed $4,000, and sent the other S5,-
QUO to. a Philadelphia company,in order
to secure the commission. Mr.. john
son further said that there was too
much insurarance BY at least $40, coo ON
the schools, as with our present fire
department none Of the schools could
be damaged by FIRE to the extent Of
their insurance. Ia conclusion Mr..
johnson presented and bad read, a
Communication he had received from
L. P. Buck & Co., offering 10 insure all
the schools il the German American
and Niagara Companies. at 27i cents
on the 500.
Prof. Reynolds claimed that the
chrief offence of the committee was 10
disobeying the orders Of the Board,
which were that insurance on school
property should be Effected in home
companies. He also said that if the
committee had consulted the home
companies they could have effected
lower rate of insurance, rs he was as
sured that the home companies would
assume risks at % cents on the 500,
He said The most suspicious part OF the
proce eding,iI bis opinion, was the fact
that Mr., l.. P. Buck. of the insurance
agency of L. p. Buck IL Co., had
publicly boasted, several months ago,
that he would in short time insure
all the school houses in. the city. Prof.
Reynolds further alluded to the sound
ness Of the home companies, and said
as far as the Delaware Mutual was
concerned, it would insure all the
property of the Board, without pre-
| MUM notes, as low as any responsible
company in the country.
| Mr.. Johnson thought the remarks
just made were all tnat could be ex-
pected from an employee of one of the
home companies. He insisted that the
| committee was actuated only by a de-
sire TO secure the best and cheapest in
surance for the Board.
Prof. Reynolds thought no gentle
man in the Board would place any
weight on this argument, or question
the Integrity of his motives.
| DIR. Buck, calling Nj. Baird to the
chair, asked Prof. Rey ynolds what ht
meant in his previous remarks ip rels
tion to personal motives for changing
the insurance.
| Prof. Reynolds replied that he hat
understood on good authority that DR.
Buck had last year, approached tn
then President of the Board, CDR. Shor
ledge) and asked to be made Chairman
of the Committee on Insurance.
DIR. ShOrtledge-There is not wort
of truth in that assertion. Js--
: DR.. Buck then said that he had not
ing to do with the firm of l.. z. Bucl
& CO., and no interest whatever in thei
business.
DR.. Shortledge moved to postpon
the subject for Two weeks.
Mr.. Eckel moved TO lay the motio
on the table. Adopted. r
, Mr.. Palmer moved that,the resOlutio
; passed at the last meeting IN relation
: to insuring in home companies be re
f considered. Lust by ayes and nays, a
, follows; .,5.-.-. .
Ayes-Messrs. Furry, johnson, Pa
mer, Pyle, Taylor and President Bucl
] l-6. 'ffa .Vl}
3 Nays-Messrs. Baird, Belts, Davit
!, son, Eckel. Ferris, Heisler Kendall
4 Lally, Morrow, Price, Reynolds, an
4 ShoItledge-12. % '.laf -et
0 Mr.. Eckel moved that the commute
: be Instructed to close out the iDsuran
r ces already effected in foreign com
{ panies, as ,oon as, and on the bel
terms possible. Also. 10 reduce tn
n amounts of insurance, as in their judl
: ment was deemed best, and to insur
: in future ut rate not higher than z
! cents On the 500. Adopted.
i, DR.. Shorll, dge presented petltio
II from Ell Mende6hall and others for
+ new school building in the Mint
Ward, near Eleventh street bridge. Il,
II ferred TO a committee OF three-Messr
e Shortledge Ferris and Baird. "
The resignation of Saml A. Pro-
}, member OF the Board from the Thir
d Ward, was read and laid over for tw
weeks.
It The comnittee on No. school pr
: sented their financial report OF tn
y commencement ae follows: Receive
for sale of tickets for boys commence
l. ment $l2l, 10; for girls $98,7o; tot,
d $214.SO expenses 94. 80 baiance,$2O, y
Accepted and filed.
, A Communication was read fror
u Mayor Whitley. requesting the Boar
d 10 nave the yards Of schools Nos.
70 and kept clear of bad boys by II
er jaui,ors, as the police, OWING to IL
2, smallness Of the force, could hot col
d stanily watch the yards and preve
the bows from tresspassing. 1t Was n
n, ferred to the committees of Nos, al
la A, with power to act. o.
y A communication from Rev. j.
l. Cooper COL, asking the Board to ASST
n him in the maintenance OF a scho
ii, g.. a,n.u ,oio, al children in SchO