The evening world., 1894-05-02
ALL WANT To RESIGN,
Atlantic Mutual Benefit Society
an 0pera-B ouffe Affair.
Crazy-Quilt Business Men Thought
1t a Great Scheme.
Now There Is Talk OF Warrants and
Creditors Arc Anxious.

A greater muddle than has been made
Of the affairs OF the New York State
branch OF the Atlantic Mutual Benefit
Society, organized n year ago at
Charleston, W. Va. and which went
out of existence last Wednesday, 1t
would be hard to discover.
at is the story said Director NAL
colin w. Niven, a lawyer. at As Broad
way, and Secretary of the Harlem
Bridge Commission, ''of a lot Of men
ignorant OF insurance business. acting
in good faith and wishing to help old
friends. but exhibiting gross ignorance
when they ought to know better, and
getting mixed up in a matter they had
better have kept out Of.
Incidentally I might add my igno-
rance was seized upon towel, put 1t
mlldly-make me pay for others mis-
takes.
II have known President Edward A.
Smith, brother OF Gen. Baldwin Smith,
Of philadelp5ia' for many years; od HE
tractor; OF 90 broadway, came to me
help them out temporarily In organic
Society. They told me it was properly
organized In West Virginia. n that
everything here had been provided for.
All they wanted was my temporary
dSNiSttIl't ny lIH NY Hhilt " We
used as Il director. l objected at first,
as / have so little time to spare.
finally attended a meeting at !
Then / was introduced to Henry Will
iGms, Il lawyer. He assured all present
that he had attended to all the necessary
State legal licenses, and that he had Sc
cured the permit from the State Insur-
ance Commission, at Albany.
Here's where the first mistake comes
In. Williams had been up to Albany
and had secured a license. But he had
gone to the Secretary Of state at Al
fees and, in return, received a license
from him for the Society to do business.
He had never gone near the Insurance
Then a mass OF the statistics were
read to show how profitable and sound
the Society's plans were: accepted
eBntley was elected President and i
Vice President. We were also elected
II missed the next three or four
ley resigned. because his plans OF bust
ness were not approved. Smith was
elected in his place. I tried to resign
and SO did cothn, but q quorum could
Insurance Commission woke up to the
fact that we had no license. although
We thought that OF the Secretary of
W. N&e
we had a stock issue.
ION. Wednesday last we held a meeting
and decided to dissolve the New York
organization. Last Saturday or Wednes-
day we notified the Insurance Commission
that we were out of business.
Nov comes another complication
The officers elected here in New York
are also the sole officers OF the West
Virginia organization. Just as soon as
can get a quorum I shall resign. and 30 ]
believe will the other directors.
II suppose the best thing for any one
interested Ia to apply to the home office
at Charleston about its affairs. Presi.
dent Smith, I understand, Is still In
New York. Solicitor John Hopper ]
know but little of. He Is said to have
a good record with the Mutual Reserve,
OF course II he has ~defrauded any one
he should be punished. but l do not
know he has don any wrong.
II notice In a morning paper that
warrants are said to have been sworn
out against the officers of the Society.
All / will say is that l, as a director. a
member of god standing at the bar,
was approached yesterday with the in.
timation that II I, personally. would
make good the moneyreceived by So.
licitor Hopper from Mrs. Helen f. Muir
ray. the warrants would not be taken
out"
Mr.. Niven does not know how much
business the Society did, and does not
know how the boks stand.