interest and the members to more actively participate. Director W. E.
Dean offered a resolution that has passed into history as being,
possibly, the most noticeable ever adopted by the directors of a fire
insurance company. It is a question whether a motion under like
conditions had ever before been put or carried or ever will be in the
future. This motion was seconded by Director Mark L. Gerstle. It was as
follows:

That the action of the president of this corporation in publicly
announcing that the California Insurance Company would pay all its
losses in full as ascertained and adjusted, be, and the same is hereby
confirmed and ratified, provided that each of the directors of the
corporation affixes his signature to the matters of this meeting. Unless
such ratification be unanimous and evidenced by the signature of each
director to the matters of this meeting, the above action of the board
be null and void.

The signature of each and every director was subsequently affixed to
this resolution and it then remained a matter of detail to find how
funds were to be procured to make this resolution possible of
fulfillment and something more than a mere matter of words.

In the absence of any specific or definite information as to the amount
of the company's indebtedness this action of the directors was a most
magnificent exemplification of nerve and integrity and a superb
testimony reinforcing the axiom that a California man's word is as good
as his bond.

The board might have instructed its secretary to make the best
compromise settlements possible and have wound up the affairs of the