The Durham daily globe. (Durham, N.C.) 1889-1894, 1891-08-19
THE PROGRESSIVE BENEFIT ORDER.

To persons who, during the past le"
DAYS have been solicited to join the al
legged mutual cooperative, germantown
insurance company known as the PRO
gressive Benefit Order" having a lodge
in this city and holding out brilliant in
ducements to such as can be taken in by
it's seeming p~lausibility and seductive
methods, the following expose from the
New York Herald of 18th inst. Will be
| read with peculiar interest:
There is anew aspirant for the dollars
of the unwary quietly working in this
city. 1t promises much for little. 1t IS
like the DURLAND and other schemes
which the Herald has taken pleasure in
exposing.
Within the last three months JOHN II.
WEBB, who is termed the "OrganiZer Of
lodges has opened an Office at No. 2S7
Broadway. MIR. WEBB's duties are to
organize new lodges, furnish supplies
and congratulate and reward the starters
of new lodges for getting new fish into
his net. Each organizer Of a lodge re-
ceives 81 per head for the first three
months on all the members that are cor
rallied.
The Progressive Benefit Order was in
c]Orporated May -, 1890, under the laws
of Massachusetts, just fifteen months ago,
and now it claims a membership of forty
seven thousand. There is nothing sur
prising in this enlistment, for the order
holds out brilliant inducements to non-
thinkers and poor mathematician.
At the completion Of twelve months
membership the order agrees to pay 500
for something like an outlay on the mem
ber's part of $40. The initiation to one
of the subordinate lodges is S., the an
nual dues 81 and each assessment So,
and it is stated that there will be not
more than twenty assessments a year.
This entities you to an endowment Ger.
tificate of 500, which natures just one
year after joining the order. There is a
sick benefit of $40 per week thrown in
for good measure, and a death payment
as follows: After three months member
ship, a quarter Of the amount of certif-
cate; after six months, One-half Of GER
tificate; after nine months, three-quar-
tiers of certificate. The sick benefits are
limited to five weeks payments after a
membership of sixty-seven days, which
amount is deducted from the amount of
the certificate at the end of the year with
six per cent interest.
Another beauty of the Progressive
Benefit Order lies in the fact that mem
bers have the privilege Of taking out new
certificates which will bring 800, $7j,
$50 or $50 every month after the first
year by paying 50 for each certificate, 81
per year dues and the regular assess
ments thereon.
The order ~endeavors to explain how
such amounts may be paid for so small
an investment, but it signally fails. Just
glance at this question and answer of the
orders circular, particularly the portion
relating to Bringing in" your friends
How can such amounts be paid for so small
an investment? is a question often asked not
by members of similar organizations. who
readily join us, being glad of the opportunity
for investment, but by those uninitiated. In
explanation we would state, that in order to
pay the amount of your certificate you must
pay your assessments; should you fail to do
this, what you have already paid on same will
revert to the order. Then, again, we look to
each one joining to bring in his or her friends,
a new certificate monthly. thus increasing our
membership as we'll as our funds, without
which no success could be assured. Also from
interests derived from investments, funds,
etc.
The order claims that fifty per cent of
each assessment is deposited with the
state treasurer Of Massachusetts latter
being converted into guaranteed bonds
and first mortgage securities) for the
purpose of protecting those who come
later into the order.
The officers of the order believe their
organization far superior to savings
banks. If intending investors, who for
the most part are ~hardworking people of
small income, will stop to reason this
matter of returning 800 per year for the
investment of $40 or $50, they will see
that the early investors will reap the ben
etts, while the late Corners will have
prettily executed certificates on their
hands at some stage of the game that will
amount to nothing more than the paper
they are printed on.