New-York tribune., 1885-01-16
THE INSURANCE CoMPANYS END.
RETICENCE OF MR.. PALMER-sToRY OF A FORMER


RETICENCE OF MR.. PALMER-STORY OF FORMER
SECRETARY.
Considerable interest was excited in insurance
circles by THE TRIBUNE's report Of the downfall OF
the Franklin and Emporium Fire Insurance Company.
The interest excited coupled with good deal of
amusement. This caused by the rather wide
difference existing between the statements of the CON-
panys officials and the contents of the letter addressed
to It's president January IL By Insurance Supern-
tendent John A. Mccall 1t probably didn't occur to
President Algcr" said an insurance man, "that TIE
TRIBUNE would get McCas letter and tack it on to
his remarks"
Francis A. Palmer, chairman of the Executive
Committee of the insurance company. propounded this
conundrum: You can always tell why man Is bad.
can your He was asked who the bad man was and
replied " Ask Mr.. Wheeler" Everett z. Wheeler
said that Mr.. Palmer probably referred to former
secretary Of the company against whose integrity
nothing could be sad, but between whom and Mr..
Palmer and Mr. Alger thero existed deeply-rocted
anupahy. At the Office OF the company it was learned
that the former secretarys name was Robert M O.
Dodge. Mr. Dodge found at bis house. No. 1877
Cumberland-st. Brooklyn. The daily papers OF July
22, 1882 contained long accounts Of the forcibe re-
moval from his desk in the office OF the Franklin and
Emporium Insurance Company of an obstinate
tary." Mr. Dodge was removed by aid of the police
and taken to the fombs He brought suit against Mr.
Palmer and Mr. Aiger. The suit against the former
dismissed. and the SUIT against Mr.. Alger was
taken from The jury by Judge Freedman. who awarded
Mr. Dodge cents damages. Mr.. Dodge appealed the
and his appeal sustained by the Supreme
Court in opinion rendered by Judge Sedgwick
January B, IN which he says: "1hc act of Alger in
causing the arrest of the plaintiff was not justified.
The plaintiff, at the time secretary of the CON-
pany lie had been asked to resign. but had not been
removed. lie still had legal right to be where he
was at the post Of duty The question of the amount
Of damages to which the plaintiff entitled for
the jury and not for the court We cannot say that
nominal damages were the measure Of the defendants
liability"
Mr.. Dodge said last evening: :" have waited quietly
for this justification of my for over two years.
years. 1t ut my instance that the Franklin and
Emporium Companies were merged. Zach company
contributed $4,000 but the Emporium was repre-
sented in the board by eleven out of twenty-one
directors was a stockhOlder well a. secretary /
considered il my duty look after the interests of the
stoct holders, and when Nv Palmer wished to transact
the business OF the Executive Committee without call
ing a meeting. | demurred Mr. Palmer then gave
Alger orders TO have removed. | said that if
meeting of the Board of Directors were called would
hama IN my resignation. THIS was refused because
they knew would expose their me thods. Up to the
time of my removal the company did safe business
Afterward every one of the old Franklin directors,
such men as Morris Franklin, S V. X. Cruger. Joseph
s. Iowery. and John \. Hulen showed off the
board and friends of Palmer and Alger substi-
tuted. Now, July l., 1882 the net surplus OF the
company was Sl4611s 6S. On December 81 1888
it was Sill, ,227 and on December 81. 1884. it was
years and half The company couldn't lose that
amount II ii did safe business. wrote to Superin
endent Mccall ard told him that the condition OF the
company needed official inspection. The tact that he
has ordered it TO pay s stockholders and go out OF
existence shows how right wss.'