The Washington times., 1894-08-22
Total liability y........----. sam-s7 47

sur pAls o r4al- rNIl W
showing gain in its surplus Of $50, ,252- 50
since December 81. 1898.
Il have been more than astonished: in fact
amazed at the attacks that have been made
on the Commercial Alliance Life Insurance
Company and Mr.. Gardner, and can only ac-
count for them as the result Of excitement
created by agents of other insurance com
panies and personal enemies. In this entire
transaction Mr.. Gardner has acted the part Of
an honorable gentleman. and a t. his having
received any commission or personal benefit
out of the matter is far from true.
In our entire consultations the subject
uppermost in Mr.. Gardners mind was TO pro-
tect as far rs possible the certificate-holders
of the Washington Beneficial Endowment As
sociation and the liabilities OF the company.
e. A. DUNHAM.
"Prest. Commercial Alliance Life ms. Co. "
PROTEST AGAINST THE ATTEMPTED TRANSFER.
The foregoing being published in the even
ing papers was read by some of the policy
holders of the Endowment Association. It
was. of course. discussed. and an opinion Of
its eoncIusiveness was asked from one of the
principal policy-hOlders, who has been placed
in prominent position by his fellow members
of the association.
There has not been he said, ''an i'm
preston. as Mr.. Dunham puts it. that we
nave DHcn transferred DOtlllN 10 the ON EileE-
cial Alliance. The fact i that We have pro
tested vigorously against an attempted trans
fer, and have raised a fund 10 fight such an
attempt in the courts. 1t Is quite true. as Mr..
Dunham says, that we are not and cannot be
compelled TO enter the Alliance. but it ought
to be evident to every one that there was an
effort made to get us in body into the Com
mercial Alliance, and that there has been a
failure TO deliver the goods. Hence the new
of aOnPiliaTinn and Invitation n
coaIesce with the New York concern
'What them was asked, ''is the present
status"
simply this, that the Endowment Associa-
ton still sits as corporate body. Its stock
has perhaps changed hands, but its charter
has not ana it is impossible to wind up its
affairs except by the appointment OF a re-
ceiver and taking it into the courts. It fol-
lows then that at best all the present owners
of the stock can do. is TO give new set OF
officers to the Endowment company.
CONTRACTS CANNOT BE IMPAIRED.
'The poliey-holders.i must be remembered,
have contracts with the Endowment Assoeia-
ton under specified regulations and a charter,
and no subsequent manipulations can impair
the Obligations of our company TO US. that is
they cannot abrOgate our contracts. IL we
go into the Alliance we go out OF the Endow-
ment Association but as long as We pay our
assessments we are in the Endowment and
hold the company TO the specific performance
of its contract.
1T is also. think, evident that no matter
who governs the Endowment Association. no
rule or regulation can be made TO our dis
advantage"
Yesterday was the time for the request of
the expert accountants 10 examine the books
of the Endowment Association. Mr.. White,
chairman OF the bookkeepers. committee, was
asked yesterday if the committee had been
given the privilege He said that he had made
several attempts up to 3 o'clock u get a talk
with Mr. Gardner, but had failed This mat
ter then goes over as unfinished business at
least till to-day. There appears TO be an
opinion even among some of the pOlicY-hOld-
ers that the bookkeepers have no legal right
to make such a demand or even request
Mr.. Horatio Browning. who has charge OF
the contributions made 10 carry on the fight,
said yesterday that no such legal right ex-
isted. That there We're no charges made on
which such request could DO properly made,
that the case was not in court. and that the
only way they could get ut the books was
through receiver applied for and granted
PUT THE CONCERN on A PAYING BASIS.
Another poliey-holder suggested that the
policy-holders should get together and run
their own affairs That payment Of 81 on
every 81 900 would raise a fund which would
enable toe poliey-holders nor only 70 run the
concern but put Il on a paving basis. This
pollcy-nolder was Ia favor % a scaling down
Of premiums the ahandonins ot the old head-
quarters. renting new Offices. paying small
salaries. and otherEise ronfu-fins the easi-
uess ca tte eern1usf rlal uliI Itn ro.irT.
hoIlers aere Ga fas.r teei ta a soli ergsl-
rafiuu.
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