Special Meeting of Stockholders
Another historical meeting was held August 9th. This time at the office
of the company. It was a special meeting of the stockholders. Three
assessments had been levied of forty dollars each, amounting in all to
$720,000. This money had been paid out in settlement of claims. This was
the first meeting of the stockholders proper since the fire. The
directors realized that in response to inquiries from the stockholders
who were principally interested that they were entitled to a report as
to the progress made and the policy to be adopted for the future. Over
ninety individual stockholders were present and in order to accommodate
the crowd, the employes removed their desks and chairs, and during the
time of the meeting adjusted losses and discharged their duties on the
sidewalk in front of the building. The early-comers had seats. The
late-comers stood, but so interesting was the meeting that discomforts
were forgotten. The president made a very full and analytical report,
finishing with the announcement that another million dollars would be
needed to continue the splendid work and accomplish the final result of
bringing the California through the disaster with justice, equity and
fairness to all its contract-holders.
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