The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-01-08
WEAKENED By THE GRIP.

Mutual Benefit Association I'm Bad Shape
No Assets Worth Mentioning.
PITTsBURG, Jan. 7.-Samuel B. Griffith, of
Mercer. who was appointed receiver of the
Economical Mutual Benefit Association.
of Sandy Lake. on Nov. IL, 1891. has just
issued circular stating that there Is abso-
lutely no hope of dividend for the sur
viving members of the concern, after the
pending death and disability claims have
been satisfied. and that the court will prob
ably order the payment of these claims
first of all. The case apparently illustrates
the inability of small mutual companies to
hold together in crucial times. The asso-
citation first got into trouble when 1t en-
countered the grip epIdemic couple of
years ago, and became further involved by
bank failure last year. The affairs of the
association are in q decided tangle. The
receiver has thus far failed to find the
books of the association. Mr.. Griffith says
that the expenses or the concern were
5000 year, or S55. 900 for the eleven years.
During that time it paid to benehciaries
e125. 900. making a total disbursement of
about S1S0000 Assumlng that it had an
average membership of only 1900. the 217
assessments made on the members would
produce $685.. 000 Under these circum-
total assets are less than $4,000 at face
value. and about IS. 900 in reality.
Other Business Troubles.
BALTIMORE, Jan. THE firm of George
II. c. Neal q Son, dry goods. has made an
assignment for the benefit of its creditors.
Wallace King was made trustee, and gave
bond for $4,000, with the Fidelity and
Deposit Company as surety. The firm 10
one of the largest in the dry-goods trading
business In Baltimore. and is the oldest
with q single exception. 1t was founded
by George H. Z. Neal nearly half century
ago. 1t is estimated that the liabilities of
the firm will exceed $4,000, with assets
short of SIS. 900. There are no preferences
EDINBURG, Ind, Jan. John b. Miner,
prominent grocer Of this town. made On
assignment this morning. for the benefit of
his creditors. and Augustus w. Winterberg
was appointed assignee. The amount OF
liabilities and assets are not known at this
time, but Mr.. Miner claims that he has suf-
fcient to pay his creditors. This assign
ment 10 q great surprise to the people. as
Mr.. Miner was supposed to be doing safe
and prosperous business.
CHICAGO, Jan. 7.-Charges that the APP
pointment of A. Hegewisch as receiver of
the United States RoIlmg-stOck Company
was collusive and fraudulent are made In
the intervening petitions of creditors of the
company, which were filed in Judge
Blodgetts court to-day. The court is asked
to remove HegewiscE.
MITCHELL. Ind. Jan. THE large firm of
A. Wood 81 Co. made an assignment to NJ.
N. Moore, the banker. at this place. last
night. Liabilities, $4,000; assets esti-
mated at $4,000 The failure was sur
prite to every body here.
BERLIN, Jan. MAX Haymann. q bank
er, at Regensberg. has failed. His liabil-
tiles are heavy, and the unexpected col
lapse of his institution. which has enjoyed
q high standing. causes q sensation in the
city and neIghborhood.
LA CROSSE, Wis, Jan. THE schedules
Is IN h. f~sl
time ago, show assets of S410, g45; liabilities,
S372. 900.