Savannah morning news. [volume] (Savannah) 1868-1887, 1886-10-13
THE ALABAMA GOLD LIFE
THE POLICY HOLDERS 10 SEND
N AGENT 10 MOBILE.

Action the Meeting Called to Consider
the Company's Fatlure-PrOminent
Business Men Interested-Sfost of the
Policies Held In Savannah Paid Up
Capt. j. d Johnston to Represent the
Policy Holders Interests.
The call for meeting OF the policy
holders of the detunct Alabama Gold Life
Insurance Company, published in the
MORNING NEWS yesterday, brought to-
gether a large number of prominent busi-
ness men and others who held policies in
the concern. Promptly at II O'Clock the
meeting was called to order by Capt, d.
G. Purse, in whose office it was held. and
who moved that Col. r. j. Davant be
called to the chair and that Col. j. ii.
Estill act as secretary. The motion was
carried unanimously and those gentlemen
took their places at the table.
Among those present were Messrs. X.
J. Davant. d, Il. Purse, E. f. Bryan, j.
H. Estill, John NJ. Bryan, l.. NJ. Warfield,
r. B. Habersham, c. NJ. Hoist, W. w.
Chisholm, B. G. DeLeon, j. Il. +. TAFT
nall, Thos. F. screven, Geo. j. Baldwin,
Lewis Virgins, r. H. Anderson, E. f.
Neufville, S. j. NJ. Baker, p. d. Daffin,
Jacob Rauers, John Neill and others.
Capt. Purse stated that the
meeting had been called after con-
sultatiOn with number OF the old local
board OF directors for the purpose of con-
sidering what is best to be done in the
present emergency. The failure OF the
company" he said, "was not unexpected,
and from what could be learned 1t was
best for all concerned that the company
had ceased operations. Its assets were
being rapidly absorbed in paying imme-
date claims, and in a short time nothing
would have been lett for majority of the
policy holders" He suggested the appoint
ment of some person interested to go TO
Mobile and ascertain the exact condition
OF affairs.
Mr.. John NJ. Bryan offered a resolution
to the effect that a committee OF five be
appointed to ascertain the character and
amount of each policy and to arrange for
an assessment pro rata upon policy hold
ers to pay any expenses which might be
Incurred in conducting an investigation
into the affairs Of the company.
The merits of this resolution were dis
cussed for some time, and on the question
being put to a vote it was declared passed,
there being only two dissenting votes.
Some difficulty, however, was encoun-
tered IN getting five gentlemen to serve as
the committee, and after further discus
sion the resolution was reconsidered aud
tabled.
A resolution of Capt. Purse requesting
Col. Il. j. Davant, chairman, to call
upon all policy holders TO furnish him
with the class and amount of their poll
cies, was unanimously adopted, and the
meeting adjourned subject to the call OF
the chairman.
From information furnished after the
meeting IL appeared that nearly all OF
those interested in this city hold paid-up
policies, having taken them out when the
company ceased to do business in this
State. One gentleman has $50, 600 in the
company, another, quite poor man, has
paid-up policy tor 200, which repre-
sented more than that much In hard
earned money. Some of the holdings,
however, are less than $780,
A number OF the larger policy holders
in the company have decided to send
Capt. j.. ID. Johnston, the well-known in
surance agent, to Mobile to represent
their interests.