The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-02

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* y.sst, - fsgE oag Hus ~ tseVs
aeasfs tawteFs 10 lgWwH $50 fp'ss
THIRTY divrfpri N Mo Eqntable fate
Assurance apclofg mot yeaiartty sWl
sdapfsd byhes hafmuBisina si'h ne
pr0virlops ~ No AftHstfuuE hW Tho
psgagt ~ che tynws committees vas MT
acospfsd IN w. %Dfisinai form There wa
aBmr disstiasion over The pfnvidou That
~ strHaurrf sIpll make SPECIAL 10y.
Heafa elen authorized BY The busnt ~
dlguciofa ~ tho president . and " Nas
Amng,iei ~ rad So fayment IN escs~a ~
sin0u0 hall ~ made ~ Inability errased,
excerpt on approval ~ ths nnaBcs cnfnmitte"
%, Id. hoard ~ directors
The bylaws witl take effort ~ MAY ~,
wban tho hnard ~ directors will met and
. Nominating committee viii submit n list
NJ oandidates. who pruttbly will 10 electod
without opposition tnder tn nov bylaws
no prcsidrut and ylc. president are 10 b-
eiertsd a%noually by ihr lizard NJ dlrectoFa
The ONCE ~ fourth y~is-ppstdtnt. form.
eriy hold bv WillHm " Mcintyre, h abol-
hhed. The second and third vice-presi.
dents. now Gage T. TarhclI and George r.
wilson. will 10 appointed ny the president.
ANNNht' 10 fNiVI WAAllN ~ ''N W. w
directors The ac,tnry, comptroller, ~sc-
rptary and TREASURER arr appointed by the
board Of directors. In regard to a rumor
that thu incumbent -ecOnd aud third VICE
prpsiients would probably loae their Jobs.
President Morton aid.
THE society j. not looking for men to
take tho places Of Mr Tartel and Mt VII
son.
These are other features Of tho by-laws.
Any officer appointed by the President
may BE- removed by him at his discretion,
All Investments, bank accounts and ale OF
securities must be in the IA me Of The society.
Five directors may request a special meet
ing. The executive, hnance, agency and
insurance committees are elected at the
annual meeting and the officers of the soci-
ETY. are not to be in a majority on any COM
mitfee. All committees must report TO the
executive committee monthly and he eS-
ecutive committee must in turn report to
the board Of directors. The finance COM
mittee shalt consist of the president. vice.
president and four othsrs who are not ofti-
GERS of the society.
II is provided that the finance committee
shall have special charge OF the invest
ment of The funds Of the society, including
the purcha V and sale of securities, loans
on collateral and investments on bond and
mOTtRHR p, lUt NpIllllllNVtt. 6lhll iVIOAN
purchases, loans and other investments to
the executive committee at the next regular
meeting. The funds of the society shall
be deposited in the name Of the society in
such repositories as the finance committee
shall designate.
A section of the bylaws provides that
the assets and accounts Of the society
shall be examined and the annua state
ment verified at the close Of each year by
disinterested certified or chartered, public
accountants. The quarterly reports of
the president of the board of directors also
shall be thus verified
ANY risk in excess of 5000. 900 shall be-
reinsiired in another company.
The society's report for the first quarter
of the current year, compared with that
Of the first quarter Of last year, shows a
large falling of in business, but a big re-
duction Of expenses and commissions and
IN increase in revenues from rents. The
profit and loss account shows $500 ,o5I .o1
less In the last quarter than in, the pre-
ceding. The cause Of this Is that there
were no profits Of Syndicate participa-
lions" in the last quarter.
This is the report;