Semi-weekly interior journal. [volume] (Stanford, Ky.) 1881-1905, 1882-08-01


These affairs on the endowment plan
10 called, are springing up all over the
land. They are, without any cxcep-
ton, the merest catch.pennies, and
belong TO the identical class with the
"Marion Trust Company and other
like swindles.
The conditions upon which one may
enter (the payment Of 81 is about the
only condition in which the concern,
or is agents. Is interested, since no
one has ever been known 10 get a title
of the promised bonanza out oft.
The applicant needs no credentials in
the shape of doctors certificate, he Cor
she) needs no history Of past or prom
Use as to future department, as 10 hab
lis deleterious 10 longevity; all the
credentials wanted is 81 in cash. Tho
applicant pays 81 and is told that an
assessment on the mutual plan will be
made when member Of the Guild
marries aud produces aud files with
the company o. a certificate and other
valid proof Of the fact, then an assess.
ment would be made on all the mem
bers including the applicant, and that
the sum collected on such assessment,
less 30 much per cent. 10 cover expen-
ses, will he paid over to such appli-
cant rs a marriage portion.
Here is Just where the trouble be-
gins TO develope. The marriage takes
place, the applicant who took the
certificate Of endowment, ia contem-
plation ofthe event, presents his proofs
of the happenings OF theevent, against
which the certificate guarantees, and
is promised an early assessment and
payment Of the marriage portion,
or dover, which was 50 glowiugly de.
scribed in the beginning, as munif
cent $4,000 gin. The assessment
takes place and AT the end Of 60, 80
or 100 days call again 10 be told that
the magnificent prize has dwindled 10
500 or less.
The remarkable fact is accounted
for by the agent calling attention to II
clause in the "lolder, never before
seen by the beneficiary, to the effect
that the 81, 900, or ia proportions, will
be paid on the happening Of the event
insured against. The applicant Is
then assured that the class is not near
full and that assessments can not ex
coed $50 much" for each certificate
maturing, and that some OF those in
the class have not paid up, etc, thus
reducing, rs per an elaborate calcula.
ton, copy Of which is proiiered aud
explained, the "grand start in life
TO a pittance, and that pittance, con.
sidering money paid in, time and pa
thence consumed, hardly earned.
This is the trap set by the pitiless
sharks who prey ON the poor, the ig-
norant and the unwary. When our
insurance laws were passed aud our
bureau of insurance created, Tie argu-
ment OF all Others inducing their adop-
ton, and the mourning by the State
of the enormous burden of cost its
machinery put upon the people, was,
that the public would, through its
costly machinery, be protected against
inst such swindles. Then il was that
the people, all over the State we're
grooming under the burden ofoutrage
that had been put upon them by the
Kentucky Mutual, the Globe aud the
Hope Mutual, more than $4,000 Of
which went to pay costs in our Louis.
vile Chancery court, and the cry Of
the people TO the Legislature for the
protection of the needless and the ig
norant from the greed of sharks, who,
ON specious but false promises beguil
ed them into the hands Of the heart
less thieves who ran these concerns.
The Legislature permitted itself to be
led in the matter by those who promis-
ed under a system of their division TO
furnish the regulator of such wildcat
concerns.
The law was passed, the bureau
created, and now the people are prac
tically as unprotected, except by the
education those companies dispensed,
as they were before. The insurance
bureau is full of fat offices, the law is
worthless except for the inoumban Is,
and the people are fleeced just as they
were before, whenever one is 50 ignO-
rant as TO bite at such a bait as sharks
choose TO lure with. Parties aggriev.
ed are cody told that thelaw provides
no remedy, and good lawyers say so
too, and so it goes.
liza good foreign company desires to
do business here but does not choose
to show its books once year 10 our
commissioner, and allow its affairs to be
criticised for good or i'll, there is plen'
ty oflaw to squeeze il out by the State,
but these wildcat catch penny concerns
can 90 ON and on and there is no law
to stop them Louisville Sunday
News
A Waldo, Fla, man is bat 20 years
old and is the father Of ten children.