Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1898-02-17
S62 800 OF
33,250.00

a..i#I- l- +t4- NG4ti !'+NH AOA lllI va! u
4.,e.- Of 6o-ds, g., 500 800 OF
stockholders uotcS, 33,2500O
500, $50 OF
Liabilities, $64,07G 80.
Mr. JJhusou called Mr.. S. II. Lunt
n.a chair and asked for certain in.
.mu5u concerning the company's
.'4r- having been suggested that u
movement Was on foot to wind up bust
le,-.
Nr Wheat arose and gave synopsis
o.urcomptny history from its orc IL
fI0o ia so, during which he showed
tsa. past Years money had been lost
l bad risks and Improbable invest
us- Bid risks, however, had been
Dl watch tad materially reduced
aad, naturally, receipts Tne
cfaoy .ow held So GOO in gilL-edged
--4l1r~. The wildcat companies
had located agencies in this
ia recent years had great
Irei he home company, as
parties out of the city had grown sus-
ae.5us OF all Alexandria institutions
la- compny had consequently lost
maca outsids business. The object of
ta directory recently had been to
aa4ullu outside risks in Il measure aud
sa4eovor 10 work the local field, which
visu good one. II tbs stock holders
come 10 the rescue and patron
ae company there would be no
trouble.
Ar NJ. B H rlow spoke to the same
cl e. fae company, lie said, in re-
y, nat 10. III tde Il dollar for sew raj
care. Tie orsan z,uon, how V-r,
solvent, aud coul pay so on each
-'a-eald probably more He also re.
rivd 10 The t.cj that securities w2ich
d, b., Il sid TO pry losses had b Ell
r-~lOieA 10 the assets.
Nj Johnson further Intercepted the
secretary WAC read Il statement OF The
operations of the company for the Ia,t
nine YEAR,. He also read the assets
and liabilities.
Mr.. Jvnuson called attention to the
.act that The statement showed $4,000
more liabilities than asset: yet the sec.
rctniy in his exhibit for the past nine
wears maintained the company had
been making money.
Mr.. Wheat said that the shrinkage
10 The securities held explained that
matter, and that pref had been de-
voted toward restoring securities which
tae company had previously been cOm-
o-.led to dispose of in orter 10 pay
losses.
Mr.. Heury Strauss thought Nj.
Wheat's explanation was in every way
l.j,t3ctory. The speaker desired the
company to continue business ard
maintained that it should have the sup
p3r, of Alexandrians. If the stock
holders themselves patronized the COM
nuy there would be- no difficulty in
operating it,
Mr. +. l. Daingerfeld urged that
Vote should be- taken TO determine
whether or not the company S1oul be
cluuuUed in existence.
A conversational debate followed,
which was participated in by Messrs.
j. T. Burke, j. NJ. Johnson, II B
Harlow and others, during which the
secretary, in answer to questions
sa ed thai it cost abort - per cent.
Jr oca business and 81 for foreign.
MIR. A. c. Uhler was opposed to
winding up the affairs of the company
Mr. L. :. Laadbeater said his hobby
VS. the purchase of another fire engine
for the city, and he was ayerse to TAX
Ing too many insurance risks. He
wildly described what could be Il great
disaster should fire occur during the
prevalence of q high wind 10 one
quarter of the city which would demand
me service of both steamers, and at
o.ner contl4gration should break on.
on the river front. He opposed wind
agu the company'5 affairs.
Mr. T. T.. Downham suggested that
the secretary be requested to prepare
detailed statement of tho affairs OF the
company and present it to the stock
holders at subsequent meeting, after
which j, should be published.
Mr.. W. II. May said it was patent
Tact to all that should the company 60
'' OF business altogether more money
would be made on the securities held
IMAM In dividends from insurance pre-
M'Ums. II the association was tram
Me.ed with any unnecessary expenses
iei them be examined in order that
proper cUrtailment can be made. II g
speaker belonged to other companies
which did not labor under the disad-
'auisges incident to the Alexandria.
Mr. j. j Jameson was opposed to
Ue publication of the secretary's state
|79'' as fewpeople, he believed, would
understand it.
Mt nownham's idea was virtually
"op,sd, his motion having been
amended by Mr.. Strauss, the secretary
osllS directed to prepare a statement
@-ea is TO be submitted to the board of
1Igeiors aud subsequently published.
Af. b Wheat was then unanimously
,=fc.ed president, and Messrs.
i1.yal' Herbert, f. S Leadbeater,
ES0i,9 Huldsh, NJ. B. Harlow, G S.
'sacA and George A. Mushbach di-
GosS tue only change in the board
,5 ,lS ,he substitution of NJ. Hulfish for
'- e. late French Smoot.
1e meeting then adjourned.
luoN.-Mr. and Mr.. S. G..
D'el, last night entertained their
l Toa al a most brilliant reception in
~ aS19 " o. Miss Robbins and Miss Mayo,
NSamoni. Miss Mayo was pre-
,.1'Ia iron coming by the death of
81 81 A aunt. Mrs. Brent received, assist
" Hiss Robbins. Miss Ida Wa
- ana Mrs. y 7 Howell served