Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-12-08


MEETING OF STOCKHOLDERS SATURDAY NIGHT.
meeting of stockholders OF the Mutual Fire
Insurance Co. was held at Marini,s Hall Satur-
day night, In compliance with printed
CALL OF TwENTY-sIx MEMBERS,
in which they say: Believing that the manner
in which the business Of the company has been
managed affords just ground for complaint, and
being convinced that no substantial improve
ment can be effected without vigorous and
united effort on the part Of the policy holders
they had determined to hold meeting s'for the
purpose of discussing the situation and perfect
ing some plan OF action to secure full and fair
expression OF the will of the pOlicy-holderS at
the next annual meeting and election, and an
affairs OF the company
DR.. James M. Toner called the raeeting to
order Mr.. Charles Walter was then called to
the chair and Mr.. John A. Prescott was chosen
secretary. Mr.. James s. Edwards stated the
object OF the meeting, remaIking that as re-
CURED by the charter twenty members had re-
queSted Mr.. NOrment, the president to call a
meeting, but he had in letter, dated Nov. Goth,
declined to do so; that he had sought advice of
counsel and declined to accede to the request.
Mr.. Edwards also read letter in reply to Mr..
Norment Mr.. j. c. Wilson submitted
A SERIES OF RESOLUTIONS
condemning ''the course pursued by the man.
egers of the company in using the funds OF the
company to hire lawyers to keep them in Office
in defiance OF the will of the majority of the
members, expressed at the last election and
providing for committee Of twenty-one to take
who disapprove of the past management of the
company and are in favor of thorough and radi-
cal reform and economical administration OF
sffairS.
Mr.. Shiles read from the report made by the
committee last year and commented on the
management, saying that it was hardly to be
believed, but it could be seen that one OF the
managers had sixteen risks on one lot, eight pre-
vlouS ones being included for the purpose OF
voting themselves into Office.
Mr.. Edwards said that they could rest assured
that the old board is making every effort to Sc
cure votes, and it behooved the opposition to
work. 1t was an unW1eldly concern $11 ,0O0, 900
insured in 5000 risks to 5000 policy holders and
it would be seen they had plenty to do If they
would secure reform. He then referred to the
raising of salaries.
Thd resolutions were adopted, and the fol-
lowing were appointed the
COMMITTEE OF TwENTY-ONE:
Charles Walter, a. c. Richards. John W. ShIles,
John c. Wilson, Reuben B. Clarke, Charles E.
Fraser, John F. Kendall. Abraham P. Pardon,
Thomas Somerville, Samuel Ker, George Bauer,
Amos Hunt, Charles Fl. Cragtn, jr., Thomas
Broderick, John Noonan, Frederick KooneS,
William II. Clagett, William ID. Serrin, John
Joy Edison, Andrew Glass and George r. Clark.
Mr.. J. l.. Hayghe inquired as to what DISPOSE
ton the managers would make of the surplus
and remarked as the company was managed at
present, the policy holders were paying about
1000 per cent. He for one was tired of it, and
If the stockholders could not accomplish re-
form, he would draw out and trust his property
to the Father above, rather than in such hands
Afterfurther discussion the meeting adjourned.