The evening world., 1894-05-02
ALL WANT TO RESIGN.
Atlantic Mutual Benefit Society
an Opera -Boufe Affair.
Crazy-0uilt Business Men Thought
II a Great Scheme.
Now There IL Talk of Warrants and
Creditors Are Anxious.

A greater muddle than has been made
Of the affairs OF the New York State
branch OF the Atlantic Mutual Benefit
Charleston. w. Va, and which went
out of existence last Wednesday, 1t
would be hard to discover.
1T is the story" said Director NAL
colin w. Niven. lawyer, at 45 Broad
way, and Secretary OF the Harlem
Bridge Commission, 'of 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 matter they had
better have kept out Of
Incidentally might add my igno-
| rance was seized upon lowell put 1t
mildly-make me pay for others mis-
takes.
Il have known President Edward A.
Smith. brother of Gen. Baldwin Smith,
and John W. Coffin. a wealthy con-
tractor, Of 80 Broadway. came. to me
about last November and asked me to
Ing the New York State branch OF the
Society They told me II was properly
organised In West Virginia, and that
everything here had been provided for.
used as a director. / objected at first,
as have 80 little time to spare.
Rrnaayy Rinaily ! attended meeting at
Then was introduced to Henry Will
isms q lawyer. He assured all present
that he had attended to all the necessary
state legal License; and thas he had
Here's where the first mistake comes
In. Williams had been up to Albany
gone to the Secretary OF State at Al
bany, stated his business, paid certain
fees and, in return, received a license
| from him for the Society to do business.
| He had never gone near the Insurance
| Commission.
Then a mass OF the statistics were
read to show how profitable and sound
them as read. Then eGn. George s
eBntley was elected President and
| Vice President. We were also elected
Il missed the next three or four
ley resigned, because his plans Of busi-
ness were not approved. Smith was
and SO did Coffin. but a quorum could
never be got together. Then the State
Insurance Commission woke up to the
we thought that Of the Secretary Of
State was all right. They refused to
Issue us one when we applied. because
we naQ STOCK issue.
| 'On Wednesday last we held a meeting
| and decided to dissolve the New YorE
organization. Last Saturday or Wednes
day we notified the Insurance Commission
| that we were out Of business.
| Now comes another complication
The officers elected here in New Yorl
are also the sole officers of the Wes
Virginia organization. Just as soon as
can get q quorum 1 shall resign, and so
believe will the other directors.
II suppose the best thing for any on
interested Is to apply to the home ofiic
at Charleston about its affairs. Presi
dent Smith, I understand, Is still ii
New York. Solicitor John Hopper
know but little Of He is said to hav
a good record with the Mutual Reserve
OF course II he has defrauded any on
he should be punished, but l do no
know he has done any wrong.
Il notice In a morning paper tina
warrants are said to have been sworI
out against the officers of the Society
All will say IL that |, as a director.
member OF god standing at the bar
was approached yesterday with the in
timation that II I, personally. woul'
make good the moneyreceived by So
,, licitor Hopper from Mrs Helen E. Muir
ray, the warrants would not be takel
out"
Mr.. Niven does not know how mucl
business the Society did. and does no
know how the boks stand.