River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1892-08-04

AFTER TIE IRON HALL.
IL Is said to BE ACKNOWLEDGEMENTS n
Made for the appointment of Re-

Ii Is said to BE Observation-Disclosures ton
Made for the Appointment of a Re-
ceiver.
INDIANAPOLIS, Ind. J uly 30.-Friday
Afternoon Hawkins & Smith, attorneys
for Albert Baker. Homer Sampsel and
Daniel Krefer, filed lengthy com
plant in the superior court for the APP
pointment of receiver for the Order
eft association, with life insur-
ance. sick and disability benefit
and maturity fund features The ale
cations upon which the application for
a receiver is based are that the institu-
ton is insolvent and that under the
m Management of the present officials the
assets win be wasted and the policy
holders defrauded.
The complaint charges recklessness
and extravagant payment of salaries
and the expenditure OF large sums of
money for travelling expenses and pre-
tended claims, amounting in one year
to over $4,000, which sum, SAYS the
complaint, was appropriated and used
in the pretended payment of ex-
penses. 1t is also alleged that at differ
A1iAAlS al tAAG al JtAiASS has DCCil
exhausted and large sums of money
have been taken from the reese rye fund
and placed in the general fund instead
of allowing it to remain sacred TO pay
the benefits and claims of the members.
That part of the complaint devoted 20
the liabilities of the order shows its
maturing obligations to be tremendous.
1t alleges That the corporation is in
debted for maturing benefits for the re-
mainder of the year 1892 over 81, 000,-
900, and for sick and disability bene-
fits over $685. 900. For 1895 it is
indebted for maturing benefits 81, 000,-
600, and for sick and disability
benefits over $685.. 600. For 1894 it is i'm
debted for maturing benefits So, 600, OOU
for sick and disability benefits $3.50, O0O
For 1895 it is indebted for maturing
benefits over 50, 600, 600, and for sick
and disability benefits over $3.50, 900. 1t
is alleged that the reserve fund in the
hands of the branches amounts to only
about $1,000, 900. only one-seventh of
which is available each year for the
payment of liabilities.
1.-THE Order of the Iron Hall was instituted in
indianapolis several years ago and its general
ofces are located there. IL as the product OF
the fruitful brain of Emil Kennedy, whose
scheme several years ago to build double
track narrow-g3uge railroad froL
New York to San Francisco go
him some celebrity and attracted som
attention The Iron Han had phenom-
email growth from the time of its institution
Its membership at the beginning OF 1891 was
reported TO be 5S906 and in 1892, 65,a04 Its
membership at present is about 10000, distrib-
uted among over Zoo lodges in many states.
The official statement OF its assets January I,
1892, gave them g., 100000. The income Of
the order is derived from assessments levied
upon the members. Each assessment is s. 80
for each member, and in the history Of the order
the number OF assessments has averaged from
eighteen 10 twenty year. Its income at pres
ent is over $4,000 600 year. Since its organiza-
tion the order has paid out s., 900 600 in sick,
disability and death benefits. The exact assets
are unknown until the various branches are
heard from, but are estimated by the of1cers TO
be from 81 100000 to s., 10000
The Iron Hall pays weekly sicl- benefit Of
s25. In case of death the holder Of policy
upon which there is no deficit receives 81 600
AT the end Of seven years the holder Of policy
receives $1,000 cash If a policy lapses the
holder gets nothing.