The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-04-11
THE CAPITAL AID.
Another of the Trust Companies" Sue
cuInbs-The Members Who Realized
and Those Who Did Not.

The Journal has from time to time alluded to
the many "assessmenp or crust" companies
doing business in Indianapolis, aud has taken
pleasure in announcing the death of the Marion
Trust and the Amicable Investment Company.
reporter called yesterday at the headquarters
Of the Capital Aid Association in the Vance
block and made some inquiries concerning its
/ financial standing. The individual in charge
of the cOmpany's effects, which seemed to
consist of a plain deal table, 5"sk,
two or three chairs and couple of cords of
papers of various kinds, answered the reporter 8
question as to whether that the Office of the
company with the vague remark that sit was
where it had BEEN" and when asked for an ex-
pianation, vouchsafed the additional iufUrma-
ton that the company was "winding up its
affairs and going out of business" The "com-
pany" manifested an unwillingness to be
| interviewed, and assured the reporter
that "Mr. Pearl, its head center,
would very much prefer that nothing
should by said about it in the papers," and some
pretty close questioning was necessary in Greer
10 elicit the following information concerning
the extent of the Capital Aids operations and
the reasons for its quitting business.
The only difference between the Capital Aid
ana the Marion Trust is that while the latter
assessed early and often, every few minutes,
tine former made no assessments until policies
matured, and the certtcate-holder took his
ohdncts On tne NUMBER responding TO tue call,
receiving pro rata division of the funds
thus received. At time it had
1880 certificate holders, but when the time for
settlement came only 500 of the members paid.
There was an understanding originally" re-
marked the CLERK, "that in case there were less
than 500 paying members at the time of the
1rst assessment the concern was to go out of
business at once, but IL SO happened that there
were just even 800 who had paid up, we had
TO continue" The certificate holders and the
pubic generally may consider it rather remark
able that the number Glanced to be exactly 500.
The first months members were paid exactly
SloO Tor an Investment of $9.75-so the clerk
remarked-but thls was not exactly according
TO the company's IDEAS The assessments ought
to have amount ed to $3.50 each, and the bene-
1ts to about $500. This prevented by the
refusal of certain members in Illinois, vino
FUSED TO settle more than 1878, The clerk
planned further that the second assessment, In
tended for the payment of the second batch of
maturing certificates, was partially exhausted
In paying the first, so that when the
time for their payment arrived the
pro rata division of the funds on hand neUted
just 1855 per member for an investment of
$075 Since then nearly all the members have
allowed their certificates to lapse, until now but
twenty-slx remain.
"What will these twenty-siX received" asked
the reporter.
''Phey will get-left," was the laconic reply
"They will receive about $40 on an investment
OF SOD If everything goes on right from now on;
or, in other words, they will be ont $50"
IL is very evident that the affairs of the Cap
ital Aid have been conducted in q very
snpshod manner, and as members
are now receiving about 80 per cent of their
money back 1t is still more evident that the con-
one the trust companies are yielding To the in
evitabe, and the TOO cOntidng innocents who
have been hoodwinked into taking out certiti-
Gates are being LETT in the lurch for their money