The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1893-09-03
AFTER SECRETARY OSBORNE.
WICHITA. Kan, Aug. Goth, 1893.

Recently there appeared in the papers O
khis state and Missouri an article purpori
5ng to eminate from certain of the officer
sf this state, relative TO the bond invest
lnent companies existing in this and othe
states. What special influence wa
brought to bear on the great secretary @
state OF Kansas which prompted thu
ISSUANCE of this circular, we of course cal
Nlly surmise, but il seems TO us but fai
and right to ourselves and our stockho!der'
and good business, for Us to say something
in answer thereto, lest some VINO are no.
acquainted with the method or business as
conducted by us, may be mislec and oul
interests and the interests OF the stock
holders of this company suffer thereby.
IN the first place, it seems strange thar
the secretary of state, after having char
tered The Safe Investment Company oil
Wichita, Kansas, and pocketed the fees
therefor without a murmur aud without
complaint, should suddenly become so
greatly interested in the welfare OF the
PEOPLE of this state that he seeks TO strike
n death blow at this company which Is the
direct creature OF his own acts. He knows
that the bonds issued by it are plain and
business-like and without deception, and
that the business carried on by lt Is as
honorable as the business of any other
sorDoration in the state of Kansas, and
shat 10 fraud is perpetrated or attempted
10 be perpetrated by anybody.
IL is true that this circular before re-
ferred to is purported TO have been sent
10y others than the secretary OF state,
but we feel that 1t is equally true that 1t
emauated from aud was inspired by him,
and seeks to cause the people TO believe
That this company WAS created by some
other former ADMINISTRATION, and not by
bis own act.
In the next place we challenge the Off
GERS of the state, as we'll any man, no
matter what his position in life may be. to
show wherein we are hot conducting talr
honest and legitimate business and one
which is as worthy of the confidence of the
people as any life insurance company, or
amy other company which seeks 10 protect
men in the investment of funds. There is
nothing in any of the literature issued by
us, nor III The contract entered into rs
shown by the terms of the bond issued by
us, which is not based upon true business
principles. BY reference to the bond it will
be seen that by its terms any one may be
come bond holder in this company,
by paving ten dollars for bond and
monthly installments of sl.50 each there
Hfter until said bond shall have been re-
neemed or until the expiration of five
years, when, If the bondhoIder desires, he |
may withdraw from the reserve fund cre- |
Rted for that purpose bis interest therein |
which we are able and ready to demon |
eotdJc VIII dlHULnI 10 HI iedSb Inc UOEdl |
amount OF money paid in by him from the |
beginning to the expiration of the five
years. Or the 81 so monthly dues, Sl.00 is
paid into the redemption fund that each
bond may be redeemed in its order Just as
fast as the sum of 81 600 shall have been
paid into the fund; twenty-five cents of
tES 81. 30 is paid into the reserve fund so
that of every Sl.50 monthly dues there is
paid into the reserve fund of this company
fwpntU-ttye 40 #
those who pay their installmehts
Of dues for five years from the
purchase OF their bond, and whose
bond shall not have been redeemed pro-
vided they elect to draw therefrom the
amount to which they are entitled by the
terms OF their contract.
We make no pretensions to give some
thing Tor nothing, nor is the plan adopted
and carried out by this company in anv
particular a lottery. Ii is true that this
Is no life insurance company but as
LIE insurance company, by the payment
pf one yearly premium of SO or more the
estate of the holder of she policy of life in
surance may upon his death receive the
sum of 81 900; SO in the transaction of the
business of this company the holder of the
bond may receive the sum of 81, 200 long
before ne has paid into the company the
sum OF 81 600 No one is defrauded there
BY. and no well settled and recognized
Of business is violated, for it is
Exactly the application of the
same principle that is applied
n lie insurance business. II
cause the contract provides that the bonds
shall be paid as follows, to wit: The first
bond paid shall be No. l; the second bond
paid shall be No. ): the third bond paid |
shall be No. ? the fourth bond paid shall !
De No. 6, and so on reverting back to the
IRIS, issued uniorfeiied. unpaid bond, and
alternating with the multiple of three I'M
NJ all she bonds are paid and tins bond if
lnforfelted, is due and payable Immediate
Y alter there are sufficient funds in said :
redemption fund to pay 1t. ali subsisiing
md uncancelled bonds issued prior to this ,
having been paid according to the above
alternate table of payments, aud every man
who purchases bond in this company is
informed at the time of the order in which
he same will he paid c
So we can reiterate that all the st,ta
nents made in the circular issued as afore- =
AID. so far as they are intended to applv !
o tins company or reflect upon the bust
less transacted by ii. were absoIutejv
alse, and If the secretary of state knows
about it, he knew ut the time
ald circular was Issued that they were
alee ahd that lie WAS attempting TO do an f
nlustice TO the stockholders of This com. r
ANY by virtue of the authority OF his of +
&c which he seems 10 use rather TO de- 4
troy than TO build up the business inter
sts OF the state :
IN conclusion. we desire simply to say g
hat we are ready to meet any litigation +
nAe the proper authorities may see fit to il
rlng against us and Until such litigation
as been commenced aud successfully n
ermlnated against this company we :
~ simply that our company Il
nj Its business be Judged in the
anne manner that other comnanies =,
other business are judged and invite all
mo are interested therein TO investigate
ne same ana learn for themselves wheth-
OF not tue statements made in this con- c
sction ara not true. We are glad 10 be
bic To say, notwithstanding the scurri-
nus and unwarranted attack upon this
Dmpany ana the business of this COM
Any. which Is he creature OF the special :.
:: OF the honorable secretary of state !.
ihiseli, lhat Ii Is growing better every !,
a.' AUG no rear need be entertained by
ny investor or prospective investor there
oy reason oil anything that may have
cen said AGAINST 1t by the state officials
aDvone else. ! 2,
among other things. the circular above | :
'ierreu To contains The following. Life =
surance Is based on scientific tables al | n
ortsllty while in the bond investment
'hPan'es you pay Your money, Ia Ike your
IL; ~ = - "NNe> are usually TO
DO the sack. Ia other words, 1t Is lot.
~ IN lis worst form. as these COMPANIES
ave no backing ana are usually formed -
men who have but little financial r.. :,
possibility" o.
IN answer to the foregoing we desire Il.
mpIy 10 say that while the business
rrleu on by ihis company is not life in 81
france business. yet It is Just AS business ~,
ne ana no more offers something for -
1thlDg than does life insurance Lie II. =.
rance, which the houorabl. secretary rf :. :.
dte seems 10 champion. accomplishzs in
WORK iEgs the same results. coluDara- =
Fely. SsgLees this cofnn.nv e.. ;t