The Wilmington daily Republican., 1891-06-30
SHORT TERM VICTIMS
Sufferings Of the Unfortunates
Who Were Bled.
MUCH OF THE DOODLE Is MISSING.

4tt EtftEhbbb w oEASEb ShOuhu IhdNo
100000 to Be Distributed Among
the Policy Holders, but Assignee
Shakespeare Can Find Only 81 49,
O0O-The Lawyers Are "In It."
PHILADELPHIA. June 30.-The calam-
ity which many thousands Of poor peo-
pie of this city suffered through the
wreck Of more than score of the "short
term schemes" is being felt by them in
greater degree at the present time than
during tho period Of the collapse. A
multitude of these certificate holders
looked forward to having realized from
their Investments a sufficient return to
enable them to spend vacation at the
seashore or in the country. The suffer-
ing of the unfortunates since the wreck
of the schemes has been seen in every
part of the city, and can hardly be over
estimated. This can be judged from
the fact that thousands of the poor peo-
pie pawned the furniture of their homes,
their little jewelry, and even their wear
ing apparel in many cases to meet the
dues and assessments of the alluring or
ganizations.
1t is judged that there were in the
twenty five short termers" that went
to the wall at least 200,0 certificate
holders. Receivers, assignees and coun-
sci for the unfortunate members esti-
mate that there is fully 81 100000 at1oat
in the defunct organizations, which
should be distributed pro rata among
the members. But this estimate of Si,-
900, 600 is considerably beyond the sums
which is in the banks to the credit Of the
MI Az r1xy
can be estimated from 5000, 900 to $780,
600 is ready for distribution.
Where is the $500, 900.
OF the larger short termers that col
lapsed, the following is the amount to
be distributed:
Annual Benefit society. 100000
Earnest Workers. ................. ....... 112,000
Bi-Monthly association. -. ...... 65,0oO
Universal Order of Cooperation. ...... 6oOOO
Benevolent Endowment society, 6S,OO0
Michael j. Ryan. the newly appointed
receiver of tho Annual Benefit society,
said that there WAS nearly $4,000 out
standing in the hands Of the local agents
not yet handed over. This would bring
the treasury Of the Annual Benefit to
$20O, 900. There is at present dispute
over the assets of the Earnest Workers
Assignee James II. Shakespeare says he
has been able to find only $4,000 cash
assets. Samuel Evans MARES, who rep
resents from 1900 to 10000 members
of the defunct order, stated yesterday
that an examination of the orders ac-
counts before Examiner Alexander
showed that $300,0 should be in the
treasury.
"There are 32, 900 MEMBERS said he,
"and each paid in $40 for iniation fee
and reserve tax. This would make
$320, 900. Now it has been ascertained
that the amount received by the su-
preme officers Of the Earnest Workers
was about $3.50, 1000, against matured
certificates, expenses, etc, amounting
in the aggregate TO $3.50, 900. In this
estimate $50, 600 is allowed for expenses
of the order, which lasted less than half
year. Where is this $500, 1000. There
is only SIP, 600 left for distribution"
90 Per Cent. for the Victims.
Fortunately for the members more
than half of the collapsed short termers
were enabled to enter into voluntary
ganizations which had hardly got
started, or had been under headway
only two or three months. The mem-
bers have received from 80 to 80 per
cent. of their actual investments.
Counsel estimate that the members
will not receive more than so per cent.
of actual investments at the most and
in the case of two or three orders not
25 per cent. A conservative estimate has
been made that rs a result of the short
term wrecks the lawyers interested will
get over 100000.