The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1883-06-01

law rccognizin. Associations by the people
and for the people, organized ana conducted
| upon economic principals.
| Until such time the First National Bank OF
Waterloo. Iowa.. has been appointed ''Tr,,s-
tees" Of the Equitable Mutual Life and En-
dow ment Association to receive ana hold all
| strties which were and would have been
| deposited with the Auditor Of State. and with
whom such Surctics will continue to he it,
posted. as certainly and held rs securely and
have the same effect, ~ IL deposited with
State Auditor.
We here opened the Trustees receipt:
Received Of thr Equitable Mutual Life and
| En,iOw mcnt Association *'.6I) Three ThouS-
| AMI Six Hundred Dollars ia kcii Estate, first
| mortgage. hearing and per cent interest
payable semi annually, IL hold in trust for
, the members of tho said Association until
! such time rs said Association shall direct
their deposit with the State or they shall be
pail out in rndowmcnts as provided in GER
iiiiratcs of membership issued by said ASsQ-
citation. said deposit Ia bc. in all resps cts in
accordance with the code and TO have the
same effect AZ deposit with the Auditor OF
State.
Waterloo. Iowa, May 9Th. 1855.
II. Is. ALLEN,
Pres First National Bank. waterloo, Iowa.
j. W. KRAPFEL,
Cashier First National Bank. Waterloo, Iowa.
ACTION IN IOWA CITY.
With this fair presentation of the
situation of affairs, confidence was
not only completely restored in the
minds of the Iowa City branch sOcie-
ty. hut the members felt more en-.
cO,Iraged than ever To combine in and
support the society. Last night
meeting of the branch was held at
the office of the President, DIR. NJ. Ii.
Moon, and Il tull discussion of Audi
tor Browns ruling. and OF the proper
course for the society to pursue in
the premises. was generally INDUCED
in. The nonrshing condition of the
society, and the fact its members
elsewhere were still royal and enthu-
siastic in its cause, led the gentle
men present to speak freely and fully
upon the subject. Several gentlemen
commented rather severely upon the
action of the Auditor, who made his
ruling IN the face of the opinion of
the Acknowledgement of State. Final
ly. the meeting unanimously adopted
the following resolutions:
Resolred, That, the Iowa City Cranch of the
Equitable Mutual Lite Endowment Associa-
ton OF Waterloo, hereby expresses its conf
dence in the condition and management or
said association, and while regretting the ac-
ton of thcAuditOr of State, we feel secure
in the deposit of the endowment fund of said
association i'm the First National Bank OF
Waterloo, as trustee for the members of said
association and We favor united action to Sc
cure such legislative cnactmentS as will give
the policy holders complete protection under
The laws of the State.
This endorsement is certainly 4
ilattering one to the Equitable Asso-
ciat ion, but we feel that it is fully
deserved. An insurance company
that is so suddenly deprived Of the
State. Insurance officer, in sucha
peculiar manner, and is so prompt to
thoroughly protect its policy holders.
deserves such encouragement and the
warmest support from the people of
Iowa..