The Washington herald., 1908-07-15
CAVE DENIES CLAIMS
Treasurer of Insurance Com
pany Tells His Story.
WILL FILE ANSWER TO SUIT
Declares that Allegations Brought
Against Him Follow His Refusal to
Buy Minority stock at High Price.
Gusts COmPIeinRnts from office
and Elects New Set of Directors.

Asserting that each OF the counts in the
/ bill fled against him IN the Supreme
Court Of the District. several days ago
are false. Gilbert ". Cave. treasurer Of
/ the American Home Life Insurance Com
/ pany Of the District Of Columbia. last
might repudiated the three directors who
/ have sued him. and expressed his inten-
zion Of fighting the case TO the finish
/ At the annual election Of officers Of the
company, which occurred yesterday after
noon. the following were elected: VI. E.
I Pa-kins, president; r H Reh. vice pres
ident: II. Ferguson. secretary. and Gil
/ bert W. Cave, treasurer and manager.
/ When seen at the company's offices at
Fifth and G streets northwest yesterday.
I the treasurer declared that efforts TO
{ force him 10 buy the minority stock Of
lthe American Home Life Insurance Com
/ pany at an exorbitant price or sell his
majority holdings at an excessively low
figure. were the motives back Of the suit
Cave Denies Charges.
AIr- Cave takes exception 10 several Of
/ the charges against him. He said yester-
I day he was prepared 20 answer and would
I answer each one OF the counts fled by
/ the three complainants. and would prove
: by documents in his possession that
! AIessrs- Charles T Yoder. James H. Yer
miIya. and James II. Cation had conspired
/ against him.
/ In the bin Of complaint the petitioners
! charge Mr.. Cave with having maintained
[ a bucket shop and TO have formerly
/ operated a book for betting on race
D -. Il
/ u0unced as untrue He also declared that
I his place as manager Of the company was
/ not seIf-bestowed. as claimed by the
plaintiffs
/ Mr.. Cave. who owns so shares Of the
COmpauy's stock. and who has been con-
I nected with the concern for more than
eleven years, said the company was
! never in a better financial condition than
( at present
Il have At all times labored Cor the
/ best interests OF the -Ompanv. and I
considered I was following this Tolicy
/ when 1 disposed Of the service Of Caton.
I Yoder. and Vermilya, and elected their
successors this afternoon" said Mr..
( Cave last night
Twice Employed One Man.
y had employed Vermilya twice as in
spector. and each time found IL necessary
( 70 dismiss him in the interest Of tn.
! company Likewise. Toder's son and
{ son-in-law. who were employed for the
! company. were dismissed for good rea-
sons These changes I consider had
great deal 20 Go with the combined ef-
I fort Of the men 10 disrupt the company.
''Eermilya had f0r several years con-
tended that he should receive a large
salary for being president Of the com
pany- This also. IN my mind, had some
: thing TO do with his action in bringing
the suit for the dissolution Of the COM
pany- Cations conduct in this matter was
wholly uncaIled for
Mr. Cave then told Of his negotiations
10 acquire Yoder's and Vermilya's stock
through Cat-a, saying that the transac-
tion was closed when Cation informed
them he was acting for him
Cation Joins Others.
Then Caton threw in his lot with Yer
milya and Yoder and brought the suit
against the company, asking that It be
dissolved and q receiver appointed said
Cave
7 am not worrying over the outcome Of
the suit" he continued a similar one
was brought recently by Toder but was
Withdrawn when I agreed TO buy the
minority stocl-- This stock was not de-
Iivered. and I have brought suit in equity
10 compel its transfer 70 me"
Mr.. Cave viii hle an answer to the
complaint as soon as he receives a copy
Of the bin. Attorneys Henry z. Davis
and a S. Worthingtcn have been re-
tanned TO represent Mr. Cave and the
company IN the proceedings