The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-27

little over per cent of the Iron Hall member
snip at the beginning OF 1891. as already stated.
or 4% per cent or the membership &C the end or
that year.
dowment corporation IL the Peoples Ffve-year
Benefit Order" which had bsssn in existenco
snree n"n'ns ~ ne Ine OF It's asst 9eiai
then Is, 3l4 members, the amount of whose out
standing certificates was 1876 100. To meet
at last accounts. 1861. 404 Ofits 1876, 100 Of
liabilities. about 81. 346. 600 falls due in 1894.
$1,000 In 1925 and 81, $50, 100 In 1896.
Surprising this total liability 10 be reduced by
payments for disability benefits $29s. 926. which
Is about the ratio OF previous reductions from
TINS source. and by the interest upon these. the
LEGALITY or which Is questionable. say $4,000
more. there stil remains more than 81 100000
OF ultimate liability toward which the corror-
alton has accumulated but 1861 ,404, not moro
than one-fifth OF which can be used 10 pay the
S2,34s. 600 OF certific ates maturing in SEA.
The Iron Hail., when first seeking admission
TO Massachusetts. had a provision In its charter
that during 40 period OF its existence should
more than one-sevepth OF its reserve fund lie
uraMn III any year 10 meet maturing certtcates.
State the charter was changed so that two
seventies might be taken. and the companys re-
port for 1890. sworn TO ny the officers, showed
that IL took two-seventns instead OF one-sevenfh,
OF that which IL had promised should remain in
the reserve fund If the Peoples Fiveyear
Benefit Order, with 1861 ,404 in the reserve
fund, and with maturing certificates amounting
10 So, 34s,6 500 IN 1894, ana 50, 227 500 I'm the
dDdnQ0us
ing only one-ffth OF the reserve fund in any
year to meet maturing certificates, IFS certificate
holders must still endure one hundred assess
month. But TO provide a reserve so that one
nth OF IL will be sufficient 20 meet the pay
ments as promised. the 1914 certificate
holders of the Peoples Five-year Benefit
Order must stand twenty assessments of S1.5O
each per month. or total OF 1850 per year, a
application TO the courts by angry members
The Peoples Five-year Benefit Order began ny
calling single assessment of $3.50 per month
on each certificate. and they are now calling
two assessments. or So per month In all.
SUPREME cHAPLAIN's SALARY.
The objections which have been stated re-
specting some of these Massachusetts, assess
ment endowment corporations apply equally
well to all of the others. To be sure. the "Order
of the Solid Rock" had but sol members. ac-
cording to its last annual statement, and the
"Order of the World" but 1861, and the ..Order
of Safety" but Gil therein lies the safety OF
those who have stayed onp; but the adver-
tised methods or all, whether their terms
be one year. or five years, or seven years, have
been modelled after the same plan. The corpora
ton consists OF seven persons, popularity or I'M
popularity known as "supremes," with no repre-
sentati0n rule from the subordinate lodges.
Among the inc0rp0rat0rs was generally q we'll
salaried supreme chaplain. and there was curl
Gus admixture OF religious pretense In many OF
their proceedings. which can neither be pleasant
nor profitable to describe at this time. In the
has also been record of thievery and misman-
agement. which certainly illustrates the unwis-
dom OF a system that intrusts such large sums
OF money 10 o body or seven men who are hot re-
sponsible In any way TO the certificate holders
In some OF the public meetings OF the associa-
tons q supreme humorist seems also 70 have
been employed; hut this office must be consd-
cred ephemeral and unimp0rtant, since we no.
where learn that supreme humorist has been
admitted To any large participation in the profits
OF rhe endowment societies as the supreme
chaplain. In the "Order of the Golden Lion"
one OF the officers who appeared before Justice
Allen, or the Supreme Court was asked what
supreme chaplain and that his duty TO open
the supreme session with prayer. He further
stated that his previous occupation had been
that or clerk In grocery store at Sl2 per per
week, put that his salary as chaplain was - 800
per annum. AS the supreme session OF the
Golden Lion was he'd but once in two years the
cost TO the members for this supreme chaplain
was $4,000 prayer. In the t"Frlencly
Aid Society,"" which began business in juno,
1890. the old officers discovered method
OF enriching themselves by the process OF sell
ing out the corporation, resigning. and allowing
the purchasing members 10 be elected officers In
their places. The old officers received over S27.-
OOO cash for this transaction. and the new OF
nclals managed, in thirteen weeks OF The ex-
istence OF the corporation. after they had gained
control, to secure 10 themselves $780, 200 in corn-
pensatlon. When receiver was appointed the
books and accounts were in sadly confused
condition. almost impossible or being satisfacs
tOrly adjusted. In the Golden Lion" whose
chaplain's salary has already been alluded TO.
the expenses, which largely went TO the oficeeo
in salaries, were 100000 in eleven months.
Among the endowment orders alluded -
by Mr.. Bennett in illustrating his points
were the Royal Ark, the New Hampshire
Bond Investment Company, the Progress
i've Benefit, the Mutual One-yesr Benefit.
the Order of Aegis. the Friendly Aid So
ciety, National Congress of Friends, and
others Some are dead. and others are tot
tering.