The Brookhaven leader., 1883-04-19
a Just statement.

! matrimonial insurance company or
gssizsd 10 the South, suspended last
: month. 1t was incorporated and
began business 10 good faith, and the
. fact that it survived until the last
; Of the hundreds Of like associations
which came after it, were dead and
, their names almost f,fgotten rprpyts
5 that The principles -which-preyailed
at It's inception were never for mo
ment gotten. 1t fell victim to
the decentralization brought upon the
b business by others, and not on &C
count of any mismanagemcnt or
abuse of its own. We believe all Of
its officers to be high.toned, honOra-
Bile gentlemen, and few, under SINH
lar circumstances, would have uni
formly been so faithful. ...s
Below we publish circular which
accompanied their final statement
Anyone who has kept at all posted
as to the history of the Association, ,
knows it's statements arc literally
true:
We send out to all who have ben-
Gifts as we'll as 10 all suspended
members who paid assessment No. 6,
the enclosed final statement of all
disbursements made by the officers
of the 5. NJ. A. A. from Its inception
to the present time, as well the dis
bursements of the equalization fund
1t will be seen from this statement
that we have paid out tn beneficial
RIGS the total sum of 1922, 1928. As
forme ly stated to some of our mem
bers, we regret as much as any oi
them that the career of our Associ.
alton has ended, but we could not
foresee when we began the business
that hundreds of other Associations
would soon spring into existence, all
: over the country, and by failing
t brings ours down in the general
p ruin. We began the business in
good faith, with the view of making
it a permanent Institution, and had
it not been for the great number OF
= these Associations, the Southern
: Mutual would to-day be on as firm
:. paying basis as any insurance
company in the country. The prin
" ciple of the business is not at fault
e The plan is as feasible as life insur-
3: ance, but no plan Of insurance could
s withstand the shock brought ab,ut
It by the failure Of five hundred com
!. panies ola like kind. Had there
n been only dozen other companies
/ started in the South we are of thu
) opinion that we still could hav,
Il made ours successful, but we coulC
;. no more stem the tile against fv,
, hundred opponents, than could thu
t dozen dry goods merchants we hav,
0 in West Point, stand the opening o
: five hundred other dry goods houses
:, in this place. Such consequence
d would bring about the failure of GU
d merchants who began their business
in good faith, just as similar resul
O has occasioned the suspension of on
q business ....
But though disaster which W
could neither anticipate nor aver
has overtakcn us, we feel q keel
pleasure in the consciousness of hay
II ing done our whole duty toward OIL
j, members. We have administered
t. FAITHFULLY, HONESTLY AND EFFICIENT
, LY the affairs OF the Association, ant
4 if the strict adherence to our pub.
} tished rules. which were in TIN
{. hands of all members, and which W
e were necessarily compelled tn adher
Y to, worked seemin ginjustice to any
- one, such was not our intent w
= could only pay out what none.
|. came into our hands and whel thi
:. money was paid out to married
e benefciarirs-as was done MONTH,
p. we could not then refund it t,
suspended members. .H." .-... .
1t is gratifying to US to state tn,
s. case Of T. L. Bramle;t, Of Okolona
) Miss, against the Association
which was won by us in the Cour
beiow-Chancery--was affirmed by
the Supreme Court ON THE MERITS
OF THE CASE, NOT JUSTICE DISSENT
It ING.
8 We wish it were SO that we coulC
g send large benefit to each OF those
members who viii receive this state
: ment only, as we'll as to the NOR,
8 than six hundred who have small
/ checks accompanying it, in all class
b es about twenty seven Thousand dol
. lars, but wishes are worthless thing:
and we can only say in concluding
{ like the women mentioned in holy
n writ, we have done the best W.
j. could. .-A"f.I'f" ". #u... ~
= GE,. P. HERNDoN, President.
, R. NJ. LEVY, Secretary. -
On March 30th, the Pheni,