National Republican. (Washington City (D.C.)) 1872-1888, 1879-03-04
THE MUTUAL COMPANY.
An interesting Session Of the Policy
Holders.
The "Reformers" Garry Things Their Own
Way-Another Election to be Held Next
Thursday-Tho Friends of the Old
Management Endeavor. to
Check the " Reform
Movement, &C., SC.
The Mutual Fire Insurance Company.

Movement, &C., SC.
The Mutual Fire Insurance Company.
The adjourned annual meeting of the Mutual
Fire Insurance Company was held at Odd Fell
lows Hall last evening, and an exciting ses-
sion was held. About 200 policy holders were
present 1t was apparent from the outset that
the "Relormers,' or policy holders opposed TO
the present management, were largely in the
majority. Major A. G. Richards presided, aud
Mr.. James 5. Edwards acted MS secretary.
Upon q request of Mr. l.. NJ. Saunders the
minutes of the preceding meetings were read.
Mr.. s. s. Baker raised u question that
the amendment to the bylaws, chang
ing the hours of voting not having been
adopted by II yea aud nay vote, according to
the minutes, was illegally adopted. After
some discussion, it appearing in the records
that tho minutes setting forth that action had
been regularly approved, and the opinion pre-
vailed that the meeting could not so behind
the approved records at that time,
Mr.. Saunders moved to reconsider the vote
by which the minutes of the meeting Of the
18th of February, at Franklin Hail. were APP
proved.
After some discussion n motion to lay the
motion on the table was carried by vote of
109 to 63. Tho "Reformers" voted solidly to
lay on the table.
No EXPUNGATIoS.
! Mr.. Saunders then moved that the rcsolu-
| tion of Mr.. Cochran, recorded in the minutes
Of the last meeting be expunged as indecent,
improper and impolte. This resolution re-
cited the complaints of the policy holders and
declared that the interests of the policy hold
ers demanded change of management.
This motion was also laid on the table by a
vote of 1Ol to 81. The minutes of the last
meeting were then approved.
Mr.. \, Watson offered u resolution providing
for the appointment of a committee of three
to ascertain whether the list of members pre-
pared by the old board contained % true nc.
count of the risks held by the policy holders
the character of tho risks accredited to the
managers, and such other information In the
premises us the committee might deem proper
After some discussion the resolution was
tabled.
Mr. Frazier offered q resolution that a new
ballot for the three managers necessary to fill
the board be taken on Thursday, the 9th in
stant between the hours of nine and nine, and
when the meeting adjourn it be to meet al
Franklin Hall on that day for tho purpose o
ballotiug.
DANGER AHEAD.
Mr.. Saunders offered n substitute that we
the policy holders of the Mutual Insuranc,
Company, deem further effort ut reorganiza
ton of the present board of managers at THU
time as fraught with danger to our common
interests"
Mr.. Saunders in support of his substitute
read some written remarks, reciting the his
tory Of the company, and appealing for coo
aud prudent action. During the reading ther'
, was great disorder
, Mr.. Amos Hunt made q spirited speech il
reply, stating that the organization had grow
to its present size despite the negligence ant
cmelessneSs of the managers
c Mr. Walker, quoting from the report of tn
, examining committee, held that it fully vindi
authorized was per cent. He had paid 70
sixteen years compound interest at per cent
# which amounted to simple interest for th
|. same period at 81 per cent. Mr. McKelde
. said lie had lost $4,000 by the transaction.
= Mr.. Walker was hardly able to proceed o
account of Interruptions and disorder in tn
!. house. When order was restored he was a
q lowed twenty minutes to speak His remark
A were In defense of the old management. III
claimed that the company had been the yer
f. best managed mutual insurance company i
3. America, and that the facts set out in the L,
n port of the examining committee were corrcC
n and fairly stated, but the last pages of /
r., which were in the form of comments, assai
N ing personal character ought to be strcke
&c out.
&c THE ANTI-REFORMERs STOP VOTING.
~ The substitute of Mr.. Saunders was laid G
"a the table.
10 Before the question on the original resol
2. tiOn could DO taken motion to adjourn W
a. made.
The chair decided it lost on a rira rOce vot
and did not recognize the call for "a vote l
tellors. After this point the greatest conlusiC
prevailed in the hall. Half q dozen anti-r
~ formers were speaking at time, demanding
division. The vote on Mr.. Frazer's resolutiC
to hold an election for three directors ne,
e. Thursday was taken during the disorder
SnOdgruss and Mr.. Cochran acting rs teller
The leaders of the ant-rotormors permit,
none of their followers to pass between Il
lie telers, aud ubstained from voting entrel
as The vote announced was l0i in favor of d
as resolution and none opposed to 1t.
Upon motion of Mr.. Cochran the meeting W
y adjourned
as THE REFORM TICKET.
e5 A meeting, or caucus, OF the "relormcr
" was called Immediately after the adiournmer
n. to nominate ticket to be voted for on THU
day Mr.. George w. Cochran was chos
- chairman, and Mr.. Charles Z. Frazier seer
e. tary. The "anti-rclormers" retired to the re
no Of the hall and manifested a disposition to d
~ turb tho proceedings of the caucus by MAXI
y as much noise as possible
re Tho nomination of three managers to
Il voted for next Thursday, was declared
G order, aud the following gentlemen we
- chosen: J., II. Schneider, II. Polkinhorn, al
d, j. b. Clagett. The meeting then adjourned.
" ANTG-REFoRM TACTICS.
~ Tho plan Of the anti-rclorm party, or tho
H. In favor Of the old managers, as stated to
REPUBLICAN reporter, is not to oppose t
~ ticket nominated last night or take any pl
n in the election next Thursday. They say Ill
Ne GS the charter provides for the election
VI; directors ON the third Monday in January,
) election at any other time is illegal. Til
- claim to be able to outyote the "relormei
nc four to one, when voting by the number
800 policies held. If the reform" directors
e. tempt TO take charge of tho Nfhirs tLev w
u bo resisted, and II IL comes to the worst t
as anti.rcformers will withdraw all their lia
re- and form a new company