The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-08-30
HAS GONE TO A NEW FIELD.
The Manager of the Globe Mutual Life
Insurance Association Disappears,
Leaving Some Bad Stories Behind-IIow the
Affairs Of the Association We're Man
aged by Marcus E. Frazier.

The absence from the city of Marcus E. Fra
Zier, secretary and manager of the Globe Mutual
Assessment Life Association is attributed TO
desire on his part to attend to official
business elsewhere. "a few days ago."
says G. D. Thompson, an attorney:
and once book keeper of the association,
Mr. Frazier went to Hornady's stable, where no
kept his horse and buggy. saying he intended to
take drive. With his somewhat costly turnout
he left the stable, but did not return that night
The next day Hornady received a note from him
saying that he was called away by urgent ousl-
ness"
"Where is the gentleman now"
ST can't say; his fatherin law, DR.. F, NJ
Packer, says he and his wife have gone to Des
Moines, Ia, but went up 10 No LOT North
New Jersey street this afternoon with Constable
Plummer to attach his household goods and the
lady from whom he rented rooms said he was at
Hot Springs We got there just in time, for the
goods were being packed up for shipment"
Evidently Mr.. Frazier has gone to stay"
at looks like it; and more so since in rooms
sc and 80, Thorpe Block, where the Globe Mu-
tual Assessment Life Associations Offices were,
we found nothing of value. The books, vouch-
ers and papers Of the least account had been re-
moved, but where nobody knows
This recital of Mr.. Thompson's search for
Fraziers effects was suggested by the suit
brought yesterday, in Squire Shocks court by
S. NJ Bruce, attorney and treasurer of the asso-
citation He sued Secretary Frazier for SITS
attorneys fees. Mr. Thompson said that the
Globe first did business in Anderson, in
1882, but Frazier could not get along with the
other officers and he came to this city the next
year, when he organized the company here re-
ferred to. DR.. S. NJ. Packer was president S.
NJ Bruce the treasurer, and Frazier the secre-
tary. The other directors were Frazier's father
and Isaac n. Baldwin But to the secretary was
left the entire management of affairs, and none
of the other gentlemen were cognizant of his
alleged reckless handling Of funds until lately.
"There were three departments in the Globe,
and the policies represented values from 81 200
to So OOO" said Mr.. Thompson. 'These were
the Junior senior and guarantee funds In the
first, youths were issued policies, and each mem
Der of the latter paid so much each month. If
a death occurred in that class during the
month the amount received in that
time was paid TO the beneficiary The payments
were from $3.50 to So so from each member
If there was DEATH the money was kept by
Frazier. If there were two, three OR four
deaths. the amount paid in was divld-
ed among tho benefciaries. In the
other classes an admission fee was charged
which the agent generally got, and in addition
there were dues of s. per year for each member
which went to Frazier II death occurred, an
assessment was made, and the benefciaries of
the insurance expected to get, and
were entitled to, whatever that assess
rnent would bring Frazier, however, would
delay payment, giving this and that excuse until
the claimants tired of the matter, and would be
glad to compromise for any amount equal to or
above that which had been paid in. There we're
about 400 paying members. so you see
this scheme of compromising gave
tm naaer tried the s''a wrong eF04 parties ne man
named Iringen, of Muncie, died, and his bene-
ficiaries asked for payment on his certificate of
membership Frazier told them that he could
pay them but $l3O; They secured an attorney;
who came after the secretary and compelled
him to turn the full amount, $500 Once
there was membership of 1000, but when it
was discovered that instead of s. 600, $1,000 or
Sc, 900 amounts, only a few hundreds were paid
certificates, they began to drop off. AT Vim
eennes one OF the insured died and his friends
got nothing. Other instances Of the kind occurred
at Hartford City, Muncie, Rockville, this State.
and at Mount Vernon and Mount Carmel, ILL.,
myself once settled Sc, 900 policy for 800
Generally, if man got the money he paid ia he
was satisfied Another instance: j. Ii. Hammond
of Washington n. c., died, and the amount due
on his certificate of membership was payable TO
his children. On this assessment s390
there and told the heirs that
only 5000. 40 had been paid in. They would not
compromise for that or any sum less than $500
the amount to which they were entitled.
Suit was brought, and on order
of court Frazier required to
answer under oath and to show books and pa
pers as to the product of the assessment The
$500 was paid over to the children Altogether
Frazier made $l2, 900 or more out of his com
promise operations. Of this he dropped $4,000
in vinegar factory, which has
appeared in litigation during the last
few weeks Frazier's interest in that has also
hoa of+ haa Ha io1 flnp vho
figured conspicuously in the barometer
scheme, and among his effects at No.
107 North New Jersey street, this after
noon, was found a lot of circulars relating
to that business. Frazier is not likely to re-
turn to the city. The other gentlemen of the
association went into the enterprise in good faith
and with honest purposes, but they left the
thousands a~d lived high. He is about twenty
eight years of age, and was married only last
June"