The Barre daily times. (Barre, Vt.) 1897-1959, 1914-06-16
REFUSES CANCEL
OLD BOND
Continued from first page.

Continued from first page.
that in order to meet the above obiec.
ton of the governor, this respondent
procured and rendered further securitie:
as set forth in said petition, believing
that by so doing he met and satisfied
the governors wishes.
And as to the authority of said com
panies' furnishing further security to do
an insurance business in this state at
the time of the approval of said bond
and securities, this respondent admits
that they had no such authority. and
AYERS that since that time and before
the service of this petition all said com
| panies except the Southwestern Surety
Insurance company had been authorized
| to do such business in this state. and
this respondent submits that the lack of
such authority does not affect the valid
| ity of the consents attached to his bond
nor would it increase the expense OF any
suit or suits for the enforcement of any
liability accruing under said contracts.
and as to this respondents alleged
misconduct in representing, misrepresent-
ing and suppressing and concealing facts
from the governor in regard to the cir
cumstances of the said approval of the
bond aforesaid and the consents thereto
attached, this respondent denies that he
wilfully. maliciously and with intent to
deceive the governor and TO procure his
approval of such bond, did not inform
him of the financial condition of the
American Fidelity company or fthe fact
that the international Fidelity Insurance
company, the Southwestern Surety com.
pany and the Southwestern Surety In
surance company were not authorized to
do an insurance business in the state of
Vermont, and this respondent denies that
he withheld and concealed said facts
from the governor, or that any facts
were withheld and concealed with intent
to deceive the governor and to procure
his approval of said bond, or otherwise,
or that this respondent, in any respect
misinformed or deceived the governor,
or suppressed or concealed any facts
from the governor.
"And this respondent admits that this
respondent took but one official oath and
submits that that met the requirement
of the law and further admits that the
of said American Fidelity
surrendered for cancellation, as
set forth in said petition, stock to the
par value OF three hundred sixty-seven
thousand two hundred fifty dollars, and
says that this action was taken with |
the approval of the insurance commits |
sioners of the states of Massachusetts,, |
Connecticut and New York.
"And this respondent is informed and |
and therefore, states that after !
the investigation of its affairs by the |
insurance commissioners as referred to
in said petition, the American Fidelity
company, through some misapprehension
Or misconduct of former secretary, de-
,lared a dividend without first obtaining
The approval of the insurance commits
sioners, and upon like information and
belief, AYERS that in other respects the
iaid company has complied with all the
recommendations of said insurance com
nissioners and has been and is conduct
ne its business in a safe and proper
manner.
"And as to the allegations in the said
petition concerning the demand of the
aid relator, as governor, that this re-
pondent cancel and abrogate said bond
With the said American Fidelity com
ANY as surety, and the consents to sub
ogation thereto attached and furnish n
lew bond in the penal sum of one hum
red thousand dollars, with sufficient
urety conditioned for the faithful eX-
cution by this respondent of the office
f treasurer of the state of Vermont.
or the remainder OF his term. this re-
pondent admits that the said relator,
S governor, did on the 9th day of Jan
AIRY, 1914 demand of this respondent
hat he cancel and abrogate all the said
xisting securities for the faithful con-
net of his Office as treasurer of the
tate of Vermont and for his faithful
counting for all monies and other
matters and things which had come INTO
is hands and possession by virtue of
aid office; and at the same time furnish
mother bond for the penal sum of one
undred thousand dollars for the re-
lainder of the term for which this re-
pondent was last elected. And this re.
pondent admits that he declined to ac-
EIDE to the said demand of the said gov
rnor as so made.
"And this respondent submits that
lid demand was one which said relator,
5 governor, bad no authority to make,
nd this respondent as state treasurer
ad no right or power to comply with.
"And as to all other matters and
lings alleged in said petition by said
,lator material to be answered, con-
,ssed and avoided traversed or denied,
lis respondent says that the same and
lch of them are not true.
"And this respondent further answer
e says. that after the service of this
,tition, to wit, on the 18th day of June, i