The Savannah morning news., 1902-04-06
ANVIL WILL FIGHT
WON'T CONSENT TO ADMINIsTRA-
TON BY RECEIVER.
HAS FILED ITS ANSWER
TO THE POLICY HOLDERS PETIT
ION IN SUPERIOR COURT.

The Hearing Begun but NO EVIL
dence Introduced or Arguments
Made-Directors Have Acted, Says
the Answer. for the Best Interests
of All COncerned-Terms of the
Contract with American Guild.
The Anvil to Get so Per Cent. OF
First Twelve Assessments Paid
Guild by Its Old Members and
other BENEFITS.
Despite the statements of some OF its
officers when the bill for an injunction
and receiver was first filed, The Anvil
will not submit tamely to the admin
istration>of it's assets and the winding
I'D of it's business by a receiver. Evil
IDENTIFY it is going to fight.
The answer and demurrer of the
company were filed in the Superior
Court yesterday morning. These pa
pers with the petition of the plaintiffs,
were read to Judge Barrow, but no
evidence was introduced and no argu-
rnents were made. The hearing was
continued until tomorrow, when the
plaintiffs will begin the Introduction of
evidence to support the allegations
they have made. The defendant APP
peared by its counsel, Garrard & Mel
drim.
History of The Anvil.
The answer is a lengthy document,
going fully into the history of The An
VII alleging the good faith of its di-
rectors and other officers throughout
its existence and setting forth the po-
sition of the directors as to the mat
tiers of which complaint has been
made.
The answer recites that soon after
The Anvil began business, in January,
of 1900, it became apparent to its Of
ficers that the rates charged for insur-
ance were too low and this became
more and more apparent as the months
passed and death claims began to come
in. The directors advanced about S.
500 out of their own pockets to meet
claims that accrued and defray current
expenses. Finally the directors reached
the conclusion that the best interests
of all concerned demanded that the
separate identity of The Anvil should
be merged into the American Guild
and a contract providing for the
merger and regulating the terms on
which it should be made was entered
CARNATIONS. This was in February of
last year.
Turned over to American Guild.
By the terms of this contract the
books, records, original applications
and other papers belonging to The An
vii were turned over to the Guild, to
facilitate the transfer of policy holders
from the one to the other. These books
and records were in the possession of
T. H. Mcmillan, supreme secretary and
treasurer of the order, who held them
as trustee.
1t was provided in the contract that
the Guild should pay to The Anvil so
per cent. of the first twelve assess
ments received from members trans
ferred; should pay in addition a re-
newal fee of 81 per annum for each
member for three years and make
further payment of an amount equal
to one assessment, when six assess
ments had been paid the Guild by a
former member of The Anvil and a
like amount when twelve assessments
had been paid.
Expected to Pay Out.
1t was from the amounts thus to be
paid that the officers Of The Anvil ex-
pected to meet the accrued death
claims and to discharge the debt of 49,
500 due themselves. 1t is alleged that
their duties and seeking to facilitate
the transfer on the best possible, terms,
for one reason because only in this
manner can they hope to secure the
payment of the debt The Anvil owes
them. The amalgamation with the
American Guild is said to have been
the very best thing that could have
happened under the circumstances.
The Anvil expresses it's willingness to
give such bond as the court may deem
proper for the faithful performance of
it's contracts and to answer for 1t that
it's officers will conserve and protect
the interests of all concerned. 1t was
averred that the appointment of re-
ceiver is unnecessary and that the
operation of the receivership will be
expensive. There are no present as
sets and the only assets in prospect are
the amounts to be paid by the Ameri-
can Guild.
Its Financial Condition.
A statement of the financial condi-
ton of The Anvil shows that on Feb.
/ there was a balance on hand of ST.
1873 81. From this amount there has
been paid out for current expenses
$74O. 3S, while the remainder. amount
ing to S4S9 %, was applied by the di-
rectors to the payment of a note for
81 .OO0 drawn by The Anvil and in
dorsed by themselves. The deficit
they made up themselves.
AS an illustration of the fact that
the directors acted in good faith and
for the best interests of all concerned,
the answer recites the fact that three
organizations similar to The Anvil, the
knights of Damon of Macon, Ga, the
Protected knights of America of Co
lumbus, Miss. and the Order of Co
lumbus of Baltimore, Md, have all
found it necessary to seek amalgama-
ton with the American Guild. under
similar circumstances, and upon SIM
liar conditions as prevailed in the case
of The Anvil.
The answer is verified by the oaths
of the directors of The Anvil, D. B.
Lester, J. Lawton Hers, Thomas H.
Mcmillan, Marion X. Corbin and Rich