New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-04-04
INSURANCE DIRECTORS SURPRISED.

SYRACUSE CONCERN TRYING TO GET CONTROL
OF THE GLOBE COMPANY OF THIS CITY.
Several men who have grown gray in business in
this city and have directors Of the Globe Fire
Insurance Company. at No. l53 Broadway. for
number OF years, have been stirred to unusual &C
tivty OF late by attempt on the part OF men rep
resenting the Manufacturer L!oyds, at No. j
Cortlandt-st. to get control Of the company. The
underwriters OF the Manufacturers Lloyds arc
mostly business men in Syracuse. y. Y, and tho
attorneys Jameson & Frcnghuysen' whose Of
fee is on the third floor OF the building NO 10 Cort-
andt-st. The Globe Fire Insurance Company Is
conservative and prosperous company, which was
incorporated about thrty-three years ago win
capital OF 500 900. 1t has made practice OF writ
ing policies only on risks in this city Fifty we'll
known business men were the directors Of the COM
pany when II was organized and IT was arransea
that as the directors decreased in number by death
or resignation. the number should not be increased
at the annual elections unless the number fell below
sixteen. There are present only twelve directors
in the company. and most Of them have been re-
elected year after year They are John j. Morris
Charles II. Ludington, James c. Gulick, Samuel I.
Knapp, Washington t. Cooper James > Zane, Eaa,e:
Noakes. Samuel barnett. John F. Halsted and
Lemuel skdmore Mr.. Eadie, who was the se st.
the president of the company several years.
1t with surprise that the directors learned r.
Gently that the agents OF the Manufacturers L9yds
Incorporated. were trying to get control OF tns
company. Holders Of stock had been approacheu
with tempting offers. Some OF the directors were
asked to sell their stock on terms more fayoraple
than the other stockholders could get IL was
feared that the plan 10 get control or the com
pany In order TO unload upon II some risks Whcn
The Manufacturers Lloyds did not wish 10 carry
Two OF the directors Mr.; Gulick and MI Knapp
said to have agreed 70 sell their STOCK ana
give proxies for the annual election or directors
which occurs on April 10. The other directors ~
mediately determined to make hght 10 Keep ,ne
company under the control OF men who would pur-
sue the conservative policy Of former years
| careful examination OF the stock transfers mas
satisfied the old directors that OF the 1900 shares rs
sued only about 700 had been bought by the agents
OF the Manufacturers Loyds within thirty days OF
the election and there is provision In the chate.
that stock cannot be voted unless II has been N
the possession OF the voter for thirty days PRIOR 70
the election. In order to head of the proxies sup
posed to have been given by Mr.. Quick ana ~.
knapp. the directors have secured temporary ~ ~,
junction from Judge Beach. OF the supreme Sou !.
10 restrain the agents OF the Lloyds from voting o
the proxies There will be an argument IN court "a
| Friday when the Injunction may be maze pers nny
nent Some Of the old directors or me cU,al sed
said Yesterday that. II the injunction proosen.
ngs failed they were confident OF keeping ,ne RI.
pany ont OF the hands OF the men represehtihs NV
| Manufacturers Lloyds.