Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1890-05-23


having funds enough to meet the Sd loss 1
have directed the Secretary to make a levy of
6 cents on each share of stock which will
enable us to pay the loss when it comes due.
The net Liabilities 046,6 40
Gross amount of insured property. 81 $50, $50
NO. OF shares OF stock.................209 32 40
No. of Stockholders. ACKNOWLEDGEMENTS $40
Gross amount of property insured
during the year. 5S, $40
Current expenses of this company are as
follows:
Presidents Salary. 500 90
Secretarys Salary 125 90
Board, for services. Observation-Disclosures. 81 90
Printing, postage, Observation-Disclosures. 10 y
Total. 70
Number of stockholders who have died
during the year-John Brown, James Bum
gardner, ST., Henry Sniteman, Geo. NJ. Coch-
ran, ST., DR.. G. A. McCutchen, Abraham
Cline, Col. Rudolph Turk.
Respectfully submitted,
j. ]. LAREw, President.
THE TREASURER REPORT.
The report of Mr.. John ToWberman,
Treasurer, was read. 1t showed that dur
ing the year the receipts had been 81 1922
and the disbursements had been $1,136.62,
leaving a balance in favor of the company
Of $195.50.
A committee consisting of Messrs. S. F.
Pilson, Samuel East and W. II. Norman
was appointed, to which was referred the
Treasurer's report. After examination
they reported through Mr.. Pilson, the
chairman, that the accounts were correct
except an error of GO cents made by the
Treasurer in favor of the company. The
committees report was adopted.
SCREENS ON FARM ENGINES.
Mr.. Shaver from committee appointed
at the last meeting On the subject, reported
an amendment to the 9th Article of the
Bylaws, so as to make it read as follows
mo building insured in this company will
be paid for, if set on fire by the careless use
of lighted pipes, cigars, matches OF kerosene
Oil in barns Oh stables, or If the ovner of
the farm azzoscs steam engines to ram
acdthout knoa0ing achether they are prop
erly screened aohile running near their
buildings." The words in italic are those
proposed by the committee to be added to
the Article.
MI. Hogshead opposed the amendment
as useless, and after some discussion it's
adoption was defeated by large majority.
An amendment proposed by MI. Samuel
CARRIER, the first President of the company,
striking out the words kerosene OIL from
the 9th Article of the Bylaws was re-
ceived.
MI. W. 7. Rush called the attention of
the stockholders to the fact that no amend
ment they adopted now affecting the terms
be made operative on any policy of insu-
rance already existing, but only on those
policies which may be issued after it's adop-
ton. There is no authority by which an
existing contract can be changed without
the consent of both parties.
The amendment offered by Mr.. CARRIER
was favored by MI. Fulcher and others,
and opposed by Messrs. w. 7. Rush,
Shaver and others.
1t was finally laid on the table.
ELECTION OF OFFICERS.
MI. John J. Larew was unanimously re-
elected President.
Mr.. Robert N. Page the efficient Secreta-
ry, declined reelection. A member inquir-
ed of him if lie would serve if they elected
him anyhow. MI. Page said he would not.
Messrs. J. Arthur Wilson and Albert T.
Fisher were put in nomination for the
place.
MI. J. J. Shuey moved that the pay be
reduced from 1925 to $50 a year, and made
a speech supporting his motion. He said
he was willing to do the work for that.
Mr.. W. H. Norman offered as sub
stitute for MI. Shuey's resolution, one
fixing the pay at from $50 to $3.50 accord
ing to the amount of work the Secretary
had to do, the Board of Directors to decide
Oh the sum.
Ne SIS. Sterrett and Pilson opposed MAX
ing the sal;ry q contingent one as MI.
Moornan's resolution contemplated; COM
petent men could not, they thought, be got
ten to take q place of that sort.
MI. Page being called on for an opinion
on the amount of work to be done by the
Secl etary AID the relation it bore to the
salary Of the place, said his experience had
been that it was about as near working for
nothing as could be gotten. He described
the work, which was far from being light.
MI. Norman withdrew his substitute
for Nh. Shuey's resolution, and the latter
Was defeated.
MI. J. Arthur Wilson Withdrew his name
as a cal didate.
The Ialloting was commenced with the
following names in nomination, Albert T.
Fisher, D. T. Hoover and A. H. Towber-
man, ard the vote stood-Hoover Is; Tow
herman 1A Fisher 3. No election, no
candidate having receiyeda majority of the
votes cast.
Mr.. Fisher was then dropped, and on the
second ballot the vote was a tie-ToWber-
man II, and Hoover II
Mr.. Hoover rose and moved that MI.
TowEerman be declared elected. His mo-
ton was adopted, and the chairman declar-