Evening star. [volume] (Washington, D.C.) 1854-1972, 1879-02-17
Mutual Fire Insurance COmpany
Troubles.
THE MEETING SATURDAY NIGHT


A meeting OF stockholders of the Mutual Fire
Insurance Conn any was held In Polkinhorns
building, on street, between 9Th and eth, Sat
urday evening. and there was very large at
tendance. The meeting was called to order by
Major a. G.. Richards, the chairman, who stated
that at the preceding meeting committee had
heen appointed to wait on the committee az,
pointed At the annual meeting aud they had
performed the .uty. and received a reply from
that committee that they deeHHn,eh II lnJudlciou5
and improper for its members to attend any
meeting OF the policy holders or to furnish any
information prior to the regular adjourned
lurtiirS ttC-1ay. The chairman also announced
that when the former meeting adjournei, re5o-
buttons offered by Mr.. j. G. Wilson CONCERNING
the administration OF the managers were pend
ing. and those were before the meeting now.
Mr.. J. c. Wilson remarked that after consid-
cradle search he had found that they had pub-
lished an annual statement OF three items, viz;
Premium notes. 81 ,339 $50; cash. Sl63 90 "a;
losses and expenses, Sl2 $3.50. The report OF
s194, 81. and the third at sll,1S0, and admit
ting either statement to be correct there should
nave been no chaege for the last few years.
The fact that they are still compelled to pay
the same percentage as formerly with so large
a surplus demonstrates the incapacity OF tie
board. He referred to the purchase or the
Marble building from one OF their number as a
questionable proceeding and piece OF eXtrav-
aganCe. There had been loaned, too. to Mr..
Mckeiden s42,540 A at six per cent. and it is
generally understood that Mr. McKeiden is
the figures, he said they showed that the eX-
penseS OF conducting the company were about
22h per cent. OF the amount diSburSed aad
asked what would be thought Of party In pri-
Vate business charging such percentage The
management should be removed, because they
have collected more money than Is necessary;
2, they have purchased the Marble building
from one or their number at an eXtravagenJ
price; g. they have loaned out $42 900 at per
cent. to one OF their number, and 4. they paid
themselves eXtrayagant salaries. He was Op
these
had been guilty OF such grab we should put
them out and compel them to pay back what
they had paid themselves without authority.
Debate followed, in which IL was said that an
amendment to the charter authorized them 10
hold S2jO.000 I'm cash; that the resolutions did
not contain all they should that the polls
should be kept open at night to give the WORK
ingmen a chance; that this board had been
self-perpe. uating board, &c. An alluSion TO the
Publication OF ticket being made, Mr. Poikln-
horn said he had no hand in IL, ana he was nOt
consulted as TO the use OF his name Mr.. Will
son said that he had published these names as
the suggestion OF a good ticket, and he look all
the responsibility that might attach TO ii.
motion was carried that action on the reSOlu-
lions be deferred until after the meeting to-day.
a motion was adopted that committee OF Il be
appointed to attend the meeting at Franklin
Hall to-day, and that the polls be kept open
from 10 O'Clock a. N. TO 10 p- IN. The following
were appointed the committee: j. &. Wilson, y.
F. Fox, j.. j. Edison. y. Watkins. ". W. Bur
Gette, George Bauer, John T.. Kendall Fred.
KOOnes. H. kilmartin, c. III. Manning, II POLK
Unborn, j. ". STILES, b. III Warner. ". ". Dan
ennoWeT. Jacob Miller, w. f. HOFFMAN. Belg-
dicr Milburn. 1nOS. Frederick, C.. E. FrdSier; y
Z. Richards. and o. +. Smith.