Pawtucket tribune. (Pawtucket, R.I.) 1890-189?, 1893-05-25
THINGS OF The PAST.
Bay State Endowment
Orders Wiped Out.
COMMISSIONERS REPORT
Gives An Idea of How the Business
Was Generally Conducted.

BOSTON, May 25-Insurance Commits
sioner George s Merrill made the second
part Of his animal report to the legislature
Yesterday. Most of il is devoted to the
fraternal hen fit associations.
Mr. Merrill says that, with the passage
of the act to wind up the affairs Of the
eight remaining Massachusetts, endow-
ment orders, the last official chapter in
this extraordinary craze will be written,
and il only remains for the receivers to be
selected and for these officers, with those
previously appointed by decree of the
courts, to close mp the accounts and dis
tribute the remaining assets.
During Their Brief Existence
the SO Massachusetts, corporations Of this
class gathered membership of 1854 900,
and collected from the certificate holders
over si2, 100000.
From this sum less than 9per cent Of the
membership received in payment of the
earlier matured certificates over So 0O0, ,0O0,
while above s2,0O0,0o0 was paid in claims
for sickness, a large proportion of this to
certificate holders in excess OF their con-
tributions, and with the natural result of
the immediate disappearance Of these en-
ricbed members from the rolls, mt the cost
of those remaining.
Nearly ~ 900, ,000-one-half undeniably II
not undisguisedly steal-went into the
pockets Of the promoters and officers
As Expenses"
leaving at the end only about 81, 500, 900 for
distribution 10 the remnant Of 800, 600
members, only trife more than was
gobbled by the 10000 who got in ION the
ound floor" which list OF course included
all of tie 'supremes," their sisters"
cousins and aunts"
The total amount of the obligations
upon the certificates issued by the corpor-
ations in exemplifying their wonderful
'new system of finance" for the benefit Of
the poor people, and toward meeting
which paltry sS.s00,000 was altogether
collected. was nearly Sl20, 600.
Without one line of restrictive leg
islation, fostered and encouraged by
the now admittedly unfortunate stat
ute which gave them birth, all but
eight of the SO Massachusetts, cor
porations fell to pieces by tho
inherent weakness Of the scheme, leaving
only that small remnant-two of these in
the hands of the court and at least four
others too weak to make the effort neces-
sary to dying--to be closed up under the
provisions of the law under consideration.
The Iron Hall,
the father of the whole pernicious brood,
collapsed npariy year ago, blistered with
fraud, deceit aud incompetency, and its
apostle Somerby is fugitive from justice,
being under criminal Indictment by the
courts of Indiana.
The loss of millions of dollars which has
been entaled, the depletion of savings
bank deposits, the debts incurred, the de-
privation and want which have come to
tens of thousands Of people, generally of a
class not able to afford 1t, and the utter
and deplorahle collapse of every corpora
tion of this name and nature, afford suf-
fcient and complete vindication of the
position assumed from the outset by the
insurance department of this common
wealth.
A table accompanies the report, show
ing the collections and disbursements of
the endowment orders from their incep-
tion. The total number Of certificates is
sued was 1853, 7ss; total amount, $117, ,322, :
l57; total receipts, ss,sO5, ,459; claims paid,
g., IL, ,0l6; expenses of collection, $3 $780, 1S9.