The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-02-21

IL dcCOuhbdDio u az iodSb p f,OOO NIlCH uds us
appeared.
still it is wrong, perhaps, to expect any one to
be accountable for anything in the matter, seeing
that the society was formed on q rob Peter-to-
pay-Paul and Observation-Disclosures kind
OF principle, and openly acknowledged bank
ruptcy as Its ultimate outcome and intention
from the first.
WHO THE OFFICERS ARE.
The reporter called again to pursue his inves-
LEGATIONS, and interviewed Mr.. Drossner, and
Secretary schotller, as to the personnel Of the
directors. His first query was:
"Who is Mr.. Collier2"
II is the inventor of the PLAN"
Where does he live2'
"In Indianapolis"
"Who is f=rn.ee C. W~iedemann3"
HE nves a , 40. 176 Cornell street,"
"His name uoes not appear in the Chicago di-
rectory."
That's strange" said Director Drossner, and
Secretary Schottler That's strange"
Hes a paper man, isn't hef'
mo, he's an old citizen. I don't understand
why he is out of the directory left"
who is William &. Phillps9"
another old CITIZEN"
There is no William G.. Phillips in the direc-
tory"
That's strange" said Director Dresser, and
Secretary schottler echoed; THAT'S strange"
who is G. Anderson2'
Hes an old citizen, too"
where does he livef'
0 Ayers court"
"Ican't find him in the directory"
We'll, that was strange" said Director Dross-
ner, appealing to Secretary Schottler, who re-
marked that he considered it strange.
Addressing Director Drossner, the reporter
asked him how long he had been in Chicago.
about three years." was the reply. Director
Drossner figures in the directory thus: morris
Drossner, eye and ear doctor, 365 West Chicago
avenue" Secretary Schottler's name is not in
the directory.
"How much money do you owe7"
Eyes"
"About SIS, 900"
How much money have you on handi"
well. If we should stop business to-day we
could pay 75 cents on the dollar. We have a re-
will be ST, 0OO."
Where DO you keep your money!"
I'm several banks"
"What hanks2'
I'm several. Our books are open to inspection.
You see, when a member joins we tell him the
truth. We don't promise 70 give him SOL, but
we wait, and when his turn comes he gets SOL
for $33."
HOW HI MONEY is MADE.
"Wel, Mr.. Drossney, be good enough to tell
the Tribune how you invest the money SO as to
double it7"
don't invest 1t ALL"
$50 you mean that"
"Of course 1 do;' and Secretary schottler
chorused: "Of course we do"
"You say you give a man SOL for S33, and in
the meantime make no Investment of the funds
in your handsf"
"Never invested a cent"
"How many members have you7"
"The last number was 573."
How many have you paid at the rate OF SOL
for $33f'
EXACTLY 242."
"When will you pay No. 2437"
"When we get money enough"
But two suckers must come in each with 1888
before you can afford to pay No. 243 double the
amount he deposited with yOu2"
Director DrOssner argued that they would not
be "snckers," Tor they in turn would pull out
SOL each.
"But when9"
"We don't promise."
Cant yOu give some idea7"
"When their turn came"
"They might have to wait a year2S
1T depends"
"On WHAT"
"On the rapidity with which new members
came in"
$50 that if new members didn't come in, the
two suckers who planked 1888 each in order to
pay No. 242 an interest of 100 per cent. would
be left7"
"They would get anyway seventy-fvec cents on
the dollar; Our reserve fund is increasing all
"Bnt the only security for the reserve fund is
the company, isn't III"
Boiling the thing down, you are the COM
pany, are you not?"
Then the ex-eye and ear doctor took an in
jured look and produced the names of the .'h-
nance committee" Messrs. Weldemann, Phillips
and Anderson, parties who, like SO per cent. Of
the jurymen summoned in Chicago, never were
born. Both Drossner and Schoutler vowed that
the strongest safeguards were thrown around
the money in several banks" by the virtuOus
men comprising the FINANCE committee" and
who have eluded the directory compilers. While
the reporter was struggling for light q young
man entered with a handful of silver dollars,
and the names of some fresh recruits were added
to the books. When Director Drossner had ex-
hausted himself IN an attempt to convince the
reporter that the misty members of the "6nance
committed" couldn't skip" with the funds, it
became plainly evident that Drossner and
Schottler were "The Union Benefit Association"
They have unqnesti0ned control of the c%Ontribu-
tons, and while Drossner watches Sehottler,
Schottler keeps an eye on Drossner.
"Do you understand the principle on which we
40 DuslnesSfN asked director DrOSSDep when the
reporter arose to go.
~ think do; pay $33 and t~hen-wait."
CHATS it,"
You make no promisesi"
"We make no promises"
"IOu pay in rOtatIonl"
THAT'S it,"
'sucker No. 573 will realize $6I for S33 about
the time Suckers Nos. LOO and 1,10I are
caught"
''Sir. we pay by rotation"
And the last men pay the drstf"
"That's it,"
"And if the association collapses the last suck
ers get LETT"
'Sir, we pay in rotation"
1t will be seen that the old adage about the
devil taking the hindmOst applies here with
great force; for the last batch who come in-and
and they are always the most numerous-wlU
find that there is nothing for them, not even
enough to pay a beggarly dividend, and the wis
est thing for the fellows to do who are at the
tailend OF the present procession is to stop MAX
ing any more payments and to see what can be
done by gentle persuasion to get back some
small part of what they have already been green
enough to put in.
Disguised Greenbackers.
Frank NJ. Hollingsworth, a leading Greenback
politician, disguised with the party selling OUT
every campaign, stated in an interview yester-
day that the party organization in this county