Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-18

without Information.
l ask, therefore, that your committee will
ment After that, as heretofore, 7 will be
ready to further account in detail for my
stewardship to any one having proper oc-
casion to inquire. Yours, very truly
August II, 1894.
This communication was not Immediately
discussed, and the law committees recon-
mendation for the employment Of Mr. Sam
uel F. Phillips, as noted above, was adopted,
while policy holders We're again ordered to be
notified that their contributions of 81 each
to the general fund for prosecuting the
pending inquiry should be paid to Treasurer
Horatio Browning.
A General Discussion.
A general discussion was then INDUCED in
by the gentlemen present over the events
in which they and so many others are SUBJ
stantially interested, the question having
been brought up as to how the interests of
two Endowment Association policy holders
over seventy-six years of age were to be
cared for, they not being able to get in
surance elsewhere. Chairman Wolf replied
that the condition of these two certificate
holders was no worse than that of the rest
he believed however, that all holders should
be advised what TO do for the present and
suggested that the committee take action
looking toward such an end.
Mr.. Browning argued that the Washing
ton Beneficial Endowment Association was
still in existence and would continue TO be
until it was terminated by legal measures
The transfer Of its stock from one set of
holders to another and the consequent
change of directors could not. he believed
change the status of the association He he
HeVed that II was possible for business to
be continued on a scale basis, and could see
no reason why II should not be continued
for he had understood that the financial af-
fairs of the association had been improy ed
substantially during the past year.
Mr.. Robert Bah interjected the suggestion
that the committee might safely advise
holders of certificates in the Endowment
Association not to surrender them or touch
the new policies offered by the Commercial
Alliance stating that indications pointed to
the unsoundness of the latter company
Mr.. Naekey was of the opinion that the
committee should not advise certificate
holders tc continue paying money to the
Endowment Association or to say whether
they should have anything to do With the
Commercial Alliance or not until the legal
adviser had investigated both subjects and
submitted an opinion.
Advice to Certificate Holders.
After further discussion Mr.. Mackey sub
mitted and the meeting adopted a resolu-
ton declaring that it was the sense of the
committee that it would be inadvisable fer
the certificate holders of the Washington
Beneficial Endowment Association to ac-
cept the offer of the Commercial Alliance
at pres ent.
When this subject had been temporarily
disposed of Mr.. William j. Miller addressed
the meeting. He regretted that Mr.. Gard
her, the president of the association, sas
not present. He knew him TO be an honor
able gertlerIan, but as president of the
company it was Mr.. Garlner's duty to the
committee, representing a., policy holders
to have come and explained the unfortu-
rate turn OF affairs.
Taking up Mr. Gdrdrer's circular letter,
Mr.. Miller gave it close attention. From 1t,
he said, it appeared that, on December 81.
1893, Mr.. Gardner showed that he had ac-
cCrding to return4 fled In the recorder 5
office. capital stock, paid up, $1,000; assets,
SS9,9SS.I1; liabilities, $i9,3Il.T ~. With the
real estate owned by the association placed
at its market instead of assessed value.
Mr.. Miller said the assets would amount TO
SiuS,BSS, or over and above liabilities to
SG9,617. besides various sums collected from
certificate holders from the time the returns
were made up to the present. Mr.. Miller
said all this showed that Mr. Gardner be-
fCved the company to be perfectly solvent,
and repeated that it was certainly the pres
idents duty to have attended the meeting.
He did rot believe the statement Mr.. Card
ner proposes 20 make should be made
through the press, but to the committee
representing the policy holders, who are
those most vitality Interested in the affair.
He had prepared resolution, which he was
about 10 offer, requesting that the books of
the association be given to the committee
for examination, when Chairman Wolf cX-
planned that Mr.. Gardner had Informed him
that he would not give up the books, but
would allow the committee to verify the
statement he was going to make by means
of the books, TO which they would be per-
mitted to have resort for that purpose
what Nr. Gardner Had Toid Him.
Mr.. Gardner had told him, said Mr.. Wolf
that he did not care snap for his stock :;
that he had acted m1rfuly and honorably
and that while he had been run nearly
crazy by the way affairs had gone, he would
allow no man or set of men to impugn or
assail his motives, because ne had done
nothing except what circums tanccs Justi-
fed. Mr.. Wolf recited that during the con-
versation he asked Mr.. Gardner if the En-
dowment Association could not be brought
back TO its old status, and that Mr. Gardner
believed it might be if 1t were not too late.
In conclusion Mr.. Wolf said Mr. Gardner
had remarked that he saw no reason why
lie should not attend the meeting
The chairman also took occasion to deny
mat ne was taking prominent part in
the affairs of the Endowment Association
because, as an alliance official had sug-
Gested, he was an insurance man himself
and was sustained by the other members
Of the committee. Mr. browning also said
mat While he had some insurance interests,
lis connection Of that character had no i'll
fluence upon his action during the pending
Investigation
After the adoption of a resolution au-
bloiiEInS the committee OF experts, con-
listing of Henry f. Bauer, Charles e.
White and Henry Geseiing, II ask for a
statement of the condition of business to-
gether with the receipts and expenditures
OF the Endowment Association since De
cemher II, lGa, the meeting adjourned
subject to the call Of the chairman.
The Forthcoming Statement.
Mr. Lawrence Gardner was seen by n
representative of The Star this morning at
the Shoreham. He said the statement he
is preparing had not been completed. as he
desired to make it full in every particular.
He thought it would be in readiness for
publication early next week. He declined
10 say anything about the meeting last
Ilsht or 10 discuss any OF the matters I'M
der consideration by the policy holders
con mittee.
Mr.. Gariner's friends also preserve 81
Il nee regarding the affair. but it is under
stood that his Forthcoming statement is
telnG looked forward TO by them as con-
tanning paragraphs of a somewhat startling
character, and that they expect public
opinion viii undergo something of a meta
morphost5 Thel the pubiica ton is made.
These gentlemen also declare that Mr.
Gardner acted with ,propriety in refusing
TO appear before a committee which, they
say, had already indicted him as grand
jurors, convicted him i'm a petit capacity
and desired the opportunity of acting as
Judges and executioners as we'll They also
assert that Mr., Gardner's statement will
show that praa many in ,arrop.