St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-11-22
PROTESTS ARE FILED.
Directors Of the Educational
Endowment Association
Speak.
Their Troubles Due to a Few
MaleontentS Of st.
Paul.
WorShippeps at Soeiety'S
Shrine Dance at the
West Hotel.
Another Man Blew Out the
GaS--Rabbi Marks ElO-
Quent Address.

The Minneapolis men at the head of
The Education En- dowment association
are considerably worked up over the
manner in which the complaint against
The association has been published. The
public has been led to believe that this
action against the association emanateS
from the state. The directors point
to the documents in the case
to disprOye it, they showing
that Attorney General Clapp has
merely consented to allow the ac-
ton to be begun in the name of the
state. The directors insist that this
suit emanates from few members of
the association who refuse to be ruled
by the majority.
The fact Of the matter is this" said di
rector of the association yesterday. mir.
Merritt, the father of the association. estab-
lished this as at experiment. He made out
a scale of rates based upon ordinary inSur-
ance computations. Experience has DEM
onstrated that these rates are too low. That
is the only reason why the association has
not been more successful. The rates have
been raised from time 10 time. The last
raise was made recently, and caused the
commencement of this action. TIL slncreasc
was recommended at the annual meeting of
members not directors merely, remember, and
was adopted. The mass of the members nave
acQuiesced i'll that action. few will not
yield, they combine, employ al attorney,
trump up Il com plant, which is sworn to by
the lawyer on Information and belief. and
take it To the attorney general of the state
and il the facts therein stated are sufficient to
bring the case within certain statute it be-
comes his plain duty TO grant his consent to
the parties 10 allow them to institute suit.
he has no other alternative; the statute COM
pels him. In this instance he simply in
dorsed on The complaint so rendered. the fol
lowing:
ST. PAUL, Minu' Nov. 10. 1S9G.-Conscnt
bring the within action, without costs to
he state of Minnesota. is this day granted.
Moses E. CLAPP, Attornty General.
HE does not make the changes contained
in the complaint or in any way indorse the
allegations made by the real parties in inter
est. He simply consents that they may
prove these charges if they can. As to the
charges of fraud against the officers there
have been repeated examination of tho the
affairs of the association, first by q special
committee appointed by the members, and
finally by most searching examination by
the insurance department of the state, al
ways resulting in the most complete eXOner-
alton of the officers from all such charges
The directors of the association have
deposited money at times with the Home
Savings and Loan association, all inSti-
tuition having paid up capital of $780,
600, for which they have been censured.
The directors said they did this bpcause
they could get 10 per cent instead of z
per cent for their money. The officers
OF the Home Savings ami Loan associa-
ton, however, do not relish the connec-
ton of their business with this trouble.
A. q. Wilcox, secretary of this associa-
ton. in reply to reporters question in
regard to the complaint filed against the
Educational Endowment association,
says in regard to ''i'he HUme:"
These statements seem 10 be made up
from a complaint filed against the Educa-
lonal Endowment association, and attorneys
have license to make any kind of charge in
complaint. ] suppose they could, for IN
stance, charge all the pastors in the city with
stealing sheep i'll mplaint, aud the pas
tors would have to rest under the charge I'M
I'll their accusers failed to prove it in court.
The Home Savings and Loan association has
no business connection with the endowment
ASSOCIATION, and never had. The latter has
been large depositor in The Home
from $4,000 to S3O.O0Ul, and
has been treated just like any
ether depositor. Two out of the seven
directors of 1.-The Home" ore also directors
of the Educational Endowment association,
but the associations are and always have
no more 10 do with the endowment associa-
ton than the Security bank has with the bus
mess of its depOsitors. The Home was
doing a large business before it had dollars
deposit from the endowment association
fund, and at this time the deposit is less than
$1,000 in capital of over half million.
There is not single allegation made in the
complaint, so far as it relates to 1.-The Home"
that has the slightest foundation in fact.