New-York tribune., 1900-05-08
TRACT SOCIETY REIMBURSED.
AMICABLE SETTLEMENT EFFECTED
WITH OTIS ELEVATOR COMPANY
RIGHTS OF LIFE MEMBERS.

An "amicable settlement Is what has bea,
effected between President Otis OF the Otis
Elevator Company. Of No. II Broadway and
the oIncers or the American Tract Society and
oy II the Tract Society will be about 100000
rlcher when the legal papers are signed This
sum VIII reimburse the society for its losses
on account Of accidents TO the elevator in
the Tract Society Building II is under
STOOD that the amount may be something less
than $lOO.OoO. but IT is expected that II will
not be less than $4,000. and II is likely thar
the sum will be definitely announced tomorrow
afternoon. at o'clock. at the seventy-hfth an
nual meeting Of the Tract Society al Dr. Park
hurst's church, Madson-ave and Twenty
fourth-st
The meeting OF the society promises TO be. the
most interesting one in years The great office
building at Nassau and Spruce SITS. erected six
years ago at an enormous cost. necessitating the
placing Of a mortgage upon it OF about
$1'209Uo. Is at last on a paying basis. or prac-
ucally so. the deficit. If any. being an insignif-
cahl l one Last year the deficit was about
f'''O"o and It's size led to great deal of criti-
clsm OF the management of the Tract Society
Besides the announcement of the prosperity Of
the off1ce building a business venture. there
VIII be an announcement by General O. O.
howard. president OF the society with refer
ehce 10 the subscriptions toward the fund Of
S-''"'p which the society last year set out
70 raise meeting will be held tonight at
the Church House OF Holy Trinity Church. in
Philadelphia, at which addresses will be made
ny General Howard Secretary George L.
9hearer and others. and it is expected that the
amount Of subscriptions raised will be given
out there.
y" ME the improved condition of the SoCietv's
hnances is likely to disarm many of the critics
who have made themselves heard in the last
Twelve months, it is expected that a renewal
OF the demand by Samuel Marsh, the J6hn-sr
lawyer to see the books Of the society. viii
cause good deal OF feeling and not little de-
oate Mr. Marsh is a life member of the Tract
Society, and until about a wear ago occuried
an Office IN the building 1t Nassau and spruce
SITS There was q difference Of opinion over the
srlectlon Oh an additional room, and Mr. Marsh
vacated his office. He .hen made several ,vrir
ten demands upon the directo.s of the sorfatv
to be allowed to exsmine th. books. On the
ground that his life membership entitled hin, ro
such an inspection. When seen last ntr-r no
said:
shall offer a resolution providing that life
MEMBER or the society shall have the right nm
% ueI teaSona Die business restrictions. to inspect
INC oookS OF the concern OF course the Law,
YOU'D not counrenance Upsetting the business
VI Lhe oookkeepeTs in order 10 satisfy the nat
ura4 desire that have 10 know that the business
Of the society is being wisely adroi1fS1a-a1
win reasonable restrictions. there should be an
opportunity for every member interested in the
Wtliare or the society To see its accounts
snall introduce resolution to that effect and
II they WISH to vote it down they will have
chance TO do so.
The renting of the building is in the hands Of
John N Golding. of No. o Pine-st When Mr.
Goiding was seen he said:
l expect TO be al the meeting. and if Mr.. Marsh
oeglnS 70 ask questions about the handling OF
the building III be ready for him.
When DR., Shearer was seen last night he re-
fused to discuss the affairs of the society. saw
ing that the annual meeting was so close al
hand that IL would be 4 disCourtesy 10 the so
clety 10 say anything at this time.