p. 85 | SPECIAL MEETING OF THE STOCK-HOLDERS OF THE HEALTH REFORM INSTITUTE

Seventh-day Adventist Publishing Association · Battle Creek, Mich. · Mar 14, 1878

SPECIAL MEETING OF THE STOCK-HOLDERS OF THE HEALTH REFORM INSTITUTE.

By John Harvey Kellogg; S. Brownsberger

The stockholders met at Battle Creek, Mich., March 1, 1878, at 10 A. M., in accordance with the call published in the REVIEW AND HERALD. The meeting was opened with prayer by Eld. S. N. Haskell.

The roll being called, it was found that there were 1,027 shares of stock represented either in person or by proxy. This constituted a quorum, being a majority representation of the stock thus far taken in the Institute; the whole number to date being 1,686.

The chairman, Dr. J. H. Kellogg, then proceeded to read the call for a meeting of the stockholders, and at some length stated the object of the call. He also made some statements relative to the present condition and workings of the Institute. He stated that the new building was none too large to accommodate the Institute family at present; that the number of patients now exceeded a hundred; that the prospects promised more patients during the coming season than the Institute will be able to accommodate even with the new building fully occupied. He thought that this rapid increase of patronage was due rather to the prospects of better accommodations, additional improvements, and greatly increased facilities for treating patients than to any change of management. The chairman was followed in his remarks by Elds. S. N. Haskell and D. M. Canright, and others. They spoke of the certain success of the reform movement, and the necessity of the extended improvements being made at the Institute. Eld. S. N. Haskell read the following resolution and moved its adoption:—

Resolved, That the directors of this Institute shall have power to purchase and hold real-estate and convey or mortgage the same, and to erect, alter, or improve such buildings as may be necessary for the business of the Institute.

The resolution was an amendment to Sec. 6, Art. II., of By-Laws of the Association. Sec. 6, before amended, read as follows: “Sec. 6. The directors of this Institute shall have power to purchase and hold real estate, and convey the same, and to erect, alter, or improve such buildings as may be necessary for the business of the Institute.” The amendment was seconded by Eld. D. M. Canright, and was unanimously adopted, receiving 1,027 votes.

Eld. D. M. Canright then read the following resolution, and moved its adoption:—

Resolved, That we hereby recommend the directors of the Health Reform Institute to secure the loan of such a sum of money as is necessary to complete and furnish the new building of the Sanitarium.

The motion was seconded by Eld. U. Smith, and by vote was unanimously carried.

Meeting adjourned till 5 o’clock P. M.

SECOND SESSION.

Meeting opened with prayer by Eld. A. S. Hutchins. The minutes of the first session were read and approved. Several more shares were represented by share-holders who had arrived since the morning session, which increased the number to 1,067. The business introduced in this meeting was relative to a loan of $25,000 from the trustees of the Duncan estate, of Battle Creek, Mich. Some resolutions were then passed relative to the conditions upon which this loan would be received. When it was found that a satisfactory agreement between the parties with respect to the loan could not be arrived at, the resolutions adopted at this session were rescinded and ordered to be dropped from the minutes.

Adjourned to call of Chair.

THIRD SESSION.

March 4, 3:40 P. M. Prayer by Eld. S. N. Haskell.

Dr. J. H. Kellogg stated the reason why the expected loan of $25,000 could not be obtained, and that it was therefore necessary to procure the money in some other way. After further remarks in this direction by Eld. D. M. Canright, the following resolutions were passed by the stockholders:—

Resolved, That we, the stockholders of the Health Reform Institute, do hereby authorize the Board of Directors of this corporation to make a loan of $30,000, at a rate of interest not exceeding 10 per cent. per annum, payable semi-annually, in not exceeding ten years, in installments, or otherwise; and to secure the payment of the same by mortgage upon real estate, and in such form, and upon such terms and conditions as shall to them seem advisable, and that the same shall be executed, acknowledged, and negotiated by the president and secretary.

Whereas, The Institute is just now in the most pressing need of about $25,000 to meet its bank account and other debts which must be paid by the first of April or have its credit greatly damaged, and

Whereas, We believe our wealthy brethren would in some way secure this money for us if they fully appreciated our distressing need, therefore,

Resolved, That we hereby authorize Elders S. N. Haskell, D. M. Canright, B. L. Whitney, and H. W. Decker, to act as special agents for the present emergency.

Meeting adjourned to call of the Chair.

J. H. Kellogg, Vice-pres.

S. Brownsberger, Sec.