National Republican. (Washington City (D.C.)) 1872-1888, 1879-04-07
MuruAL rrnr 1NsuRANoE Comply.
The Election OF the 14th Inst. 20 be En-
foined--An AnpeaI IN law.

The Election OF the 14th Inst. to be En-
joined-An Appeal 20 Law.
On Saturday r. T. Merrick, esq, as attorney
for Messrs. Richards, johnson, Clark, and
Others instituted a suit against Messrs Nor
ment, Van Riswiok, Emery, McKelden, Barker,
Howard, ct al, of the old board of man.
ayers of the Mutual Fire Insurance Com.
pany, who refuse to turn over the property
and affairs of the company to the new board,
who were declared elected at the recent cleo
ton. The object of the suit is, among other
things, to prohibit the old board from nanag-
ing the company's affairs, to install the new
board into office, to prevent the new election
advertised for tho 14th of this month, to COM
pei the members of the old board to account
for and pay back TO the company the money
that is alleged to have been made by them in
specializing with the company's funds, to re-
turn the salaries and compensation alleged to
have been received by them without authority
of law, to cancel the purchase Of the Marble
Building or compel Mr.. McKelden TO return to
the company the 81 400 bonus paid him for
transferring his interest rs the purchaser to the
company, and that lie make good the loss of
$1,000 over its revenues and the difference in
the sum paid for IL by the company and its
true value ana also TO pay over the funds of
the company now in his hands as treasurer,
amounting to some $4,000 and, if the recent
election be declared invalid on account of the
neglect of the old board to give the proper no.
tice, to have a new election held under the
direction of the court The bill filed Is
formidable document. 1t has twenty para
graphs and there are thirteen specific allega-
tions of mismanagement, Irregularities, and
improper conduct against the old board. Ac-
m vi N In IN ems charges
are u number of afhdavits and exhibits.
The general impression is that the old board
has stirred up a hornets nest in refusing TO
retire from the management after having been
defeated, for the "Reformers' appear to have
gained large accessions to their ranks since the
old management refuse to give up the office to
their successors, q great many conservative
men who voted split ticket at the last
election being now solid" for the new man.
agement. The rcformers claim that the old
management Is greatly in the minority, and
the leaders in the movement say that they are
determined to have the expressed wish OF the
majority respected il 1t takes until the next
| annual election to accomplish it.
1t appears to be the pretty unanimous opin-
| ion of the leading members of the bar that the
| recent election is valid and will be sustained
| by the court. That the purchase of the Mar
BILE Building" by the old managers from
McKeldens while he was member OF the
board and also treasurer of the company.was a
questionable transaction, in effect being pur.
chase from himself and will be set aside, and
that McKeldcn will be decreed to take back
the property and return the $4,000 paid for it
to the company, and besides be compelled to
make good the interest on the purchase money
| since it was bought in October, 1874, (whlcb,at
6 per cent, amounts to Sl2, 000,l and the $1,000
paid out over its revenues since its purchase
1t is claimed that if this suit be determined in
favor Of the plaintiffs, who are representing thC
reform elements of the company, will realize
some $4,000; that its expenses Will be reduced
nearly onc.half, and the rates of insurance ma
terially decreased. Justice Macarthur issued {
rule, returnable ON Thursday next, for the ole
board of managers to show cause why the ill.,
junction should not be granted.