The Washington times., 1894-08-25
Endowment Association Policy-holders
to Go Into Court of Equity.
COMMITTEE AUTHORIZED TO ACT
They VIII Seek an Injunction, the Appoint
ment of a Receiver, and the Control of the
Property-Lawyer Philips RepOrt-An-
other Mass-meeting to Be Held.

ton in asserting and establishing their rights
along the lines indicated at the indignation
meeting of the stockholders held some weeks
ago at Willard Hall. 1t was plainly the pur-
pose of those at that meeting TO preserve
their rights even If they had TO fight for them.
The varying phases of the agitation have
been given in THE TIMES from day to day.
but possibly the affair took its most interest
ing turn yesterday
meeting of the full committee OF nine was
held yesterday, beginning at noon, in the
office of Mr.. Simon Wolf, the result of which
| will interest ali those heretofore included In
the public discussion OF the matter.
Among those at the meeting was ex-Solc-
itor General Phillips, who had been retained
as advisory counsel AS stated all along, the
movements OF the committee were TO great
extent dependent upon Mr.. Phillips report
This was made yesterday and the discussion
! of it, which was necessarily private mat
ter, was long and exhaustive.
Owing to the nature of the business before
the committee, Mr.. Simon Wolf requested that
| the report OF its proceedings be published as
coming from him. All the end of the session,
therefore, he made the following oral state
ment TO TIE TIMES reporter:
SIMON VOLTS STATEMENT.
81 will state simply the matters that were
discussed. Mr.. Phillips appeared before the
committee and gave US a summary of his
! conclusions which are:
''That there is abundant ground on which
to go into the court of equity for the purpose
! of securing an injunction the appointment of
a receiver. and to control whatever property
/ the Washington Beneficial Endowment Asso-
| citation has, and TO restrain the New York
company from having anything 10 do with
ha EafE af fha ATr llIV.z
made an elaborate statement Of the case
| After this statement, on motion, the loan
/ committee was instructed to file bill in ac-
cordance with the views expressed by Mr..
! Phillips.
The committee Of expert accountants re-
| ported that after several vain attempts TO see
/ Mr.. Gardner the chairman Mr.. White had
seen him eventually. Mr.. Gardner declined
to answer Mr White unless his propositions
were reduced to writing. Mr.. White wrote
| Mr.. Gardner a letter on the subject, but has
received no reply thereto.
PoLICY-HoLDERs ARE WAITING.
"The committee was also informed that Mr.
Edison had received a letter from Mr.. C. B.
Bailey, secretary Of the Gas Company, and
| one from the trustees of the Washington
| Beneficial Endowment Association, wherein
! he Says that the policy-holders were writn <
! and asking him the question whether or not
| the board of directors had had meeting
| authorizing the transfer.
"a letter was also read from 1Ir. Trafford
| yice-president OF the Commercial Alliance. to
| one OF the policy-holders, Mr.. NJ j. Morgan
! now in Connecticut, wherein he stated that
/ the transfer was made by Mr.. Gardner after
/ a meeting Of the board of directors had been
held, and with full knowledge thereof.
1.-The matter was also discussed. pro and
con as to the appointment of q committee for
ha e Mr. frar ~rfr
/ him whether he would assist in restoring the
status quo. 1t was unanimously decided not
| to appoint such committee, as Mr.. Gardner
/ has shown no evidence whatsoever of his de-
sire in this direction.
CAUSE OF THE DELAY.
''I will state further for the committee that
the matter has been delayed because we were
obliged to wait for various reports, that OF
the law committee OF the committee OF ex-
/ perts, and the statement promised by Mr..
/ Gardner. The committee has not been dila-
! tory. On the contrary it has been actively
| ar work to solve the problem assigned to IT,
! The only desire the committee has is to get
/ a: the facts and 10 state them, not in a spirit
! of vindictiveness or malice, or inspired by
any selfish purpose whatever.
! THE committee. as individuals and as a
! committee, has frOwned down every attempt
made by insurance companies to control the
| Washington Beneficial Endowment AssOeia-
/ tion or any Of its policy-holders. Nothing of
that sort has been, for moment, thought of
1 or entertained.
The committee, solely actuated by desire
! TO respond to the confidence placed in it at
! the meeting of policy-holders, will in a few
! days make complete statement to a mass
! meeting of policy-loldeas TO be called for
that purpose"
VOICE IN SELECTING THE COMPANY.
Another reason for our delay has been to
! investigate the standing and reliability of the
! company to which the transfer was made
! The stockholders feel that if they were going
| to have their insurance transferred and be
compelled to pay a higher rate they had q
right to voice in selecting the company to
which they should be transferred. At the
mass-meeting the question whether the pres
| ent stockholders will be formed into a new
| organization or what other steps in regard to
keeping up insurance will have to be dis
cussed and determined.
at was stated at the meeting that the effort
| to change the character of the association pol
icies has been twice before made in the past
four years, and Mr.. Gardner then threatened
! to secure an injunction to prevent the then
officers from doing the very thing he has him
self now done Finally the committee most
emphatically declines to have anything to say
as to the New York company; its business is
not with that company; its concern is solely
to do that for which it has been appointed.
THIS will be done with dispatch and impair
tiality."
The committee having in charge the suit for
injunction consists of Messrs. Miller, Mackey,
and Claughton. The bill will be filed to-day
| or Monday.
1t was impossible to ascertain yesterday
what effect the publication of the intention of
the association to ask for an Injunction had
upon the president of the alliance. Mr. Dun
ham and Mr.. TrafTord had left the city on
Wednesday, having made their statements.
| Manager Philips has EXPRESSED himself as be-
| lieving that President Dunham had conclu-
sively established the strength and solidity OF
the Commercial Alliance, and that no un-
prejudiced mind could doubt that fact.
The president of the association, Mr. Gard
ner. was very busy yesterday with Pythian
matters. and up to II O'Clock last night had not
heard of the action taken by the committee oil
nine. He was, therefore, not in position to
discuss the new phase of the case He was
asked il he had received the communication
| from the committee OF experts, referred to
above by Mr.. Wolf. This letter, Mr. White
said, should have reached Mr. Gardner yes
terday. Mr.. Gardner said that he had not
received it until yesterday afternoon. He
could. therefore, have made no reply in time
/ for the committee meeting yesterday.
Mr.. Gardner would not discuss either the
letter of Mr.. White or any action he intended
to take in reference to it.
%AS
Special Attention
is called TO the floral display TO be made by the
nF a,