Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-14
ENDOWMENT ASSOCIATION
Certificate Holders to Hold a Meeting
Tonight.
Much Talk About the Affairs of the
Concern - Rights of Certificate
Holders to BE Tested.


the policies or certificates of insurance is
sued by that association formed the main
| topic of discussion all over the city today,
In homes, in the public offices and in bus
mess circles. The certificate holders are
found everywhere in the city, and there was
no abatement today in the Indignation
which found marked expression yesterday
| when the certificate holders first received
the circular from the president of the asso-
ciation announcing the union" of the as
ISOLATION with the Commercial Alliance Com
pany of New York. The movement to Sc
cure general meeting of certificate holders
resulted yesterday afternoon In arrange
ments to hold meeting at 7:3O O'Clock to-
| night at Willard Hall.
This arrangement was made bv some of
| the certificate holders after consulta ton
with about seventy-five of their associates
| 1t Is expected that at this meeting a COM
| nlttee Oh three or four, comprising some
| lawyer or lawyers, will be appointed to act
for the certificate holders, and take the
| matter into court IL such course is deemed
| advisable.
To Call for "a Statement.
| The general sentiment of the protesting
policy holders is that the Endowment AS
ISOLATION should be required to make a de-
tailed statement of its affairs One of them.
who had been active in securing the meet
the Endowment Association had made a
! contract to insure the life of a certifica te
| holder in return for the payment of GER
tain assessments, that the certificate hold
! ers mad performed their part of the con-
tract, and in his opinion the courts would
require the association to perform its part
or SHOW that 1t was insolvent
| Another sentiment freely expressed among
| Certincate holders is that the management
| should be punished by public exposure
When it is considered that in hundreds of
| cases certificate holders have kept UP their
| insurance by considerable personal sacri-
! flee, with difficulty scraping together money
enough to pay the monthly assessments IL
/ Is lot surprising that the Indignation is
dcep ana that there is current among the
! eertitoate holders notion that they have
| been badly wronged
n Lack of Frunkncss.
on the other hand, there are some famil-
/ lar with the affairs of the company who
| defend the management TO the extent of
| acqultting 1t of any charge of personal dis
! honesty, though they blame the president
OF the association for lack OF frankness in
! explaining the condition of affairs
| The explanation made by these friends of
the management Is that Mr.. Gardner, who
| mad the affairs of the association almost
wholly IN his own hands, had found that
| the scheme had worked to a point where il
| could no longer be maintained. In other
! words, the assessment plan of insurance
| as conducted by tho Washington beneficial
Endowment Association has proved fail
ure.
1t appears that some,at least, of those
named in the management of the associa-
| ton were not apprised by Mr.. Gardner of
| the condition of affairs, and did not know
| of the deal with the New York concern
| until after it was consummated. They have
| a feeling that they had been deceived by
| Mr. Gar1ner's lack of frankncss about the
affairs of the association.
What Certificate Holders May Do.
10
concern in which they are asked to transfer
| their insurance has been a subject of much
| inquiry. Some certificate holders are
inclined to the belief that they
can best protect their legal rights
| by holding on to the Endowment
| Association certificates. and announcing
| their readiness to pay legitimate assess
ments. One of these certificate holders is
| Mr.. Henry r. Miles, superintendent of the
| District telegraph. who expressed his in
| tention in a letter addressed to Mr. Gard
| ner, as follows:
| posed policy of life insurance which YOU
| suggest that 1 should take in lieu of the
| policy l now hold in your company for
$1,000. return the papers and decline to
| consent TO the proposed transfer for the
| reason that L consider the rates very much
| too high. The rate as given for a person
| stXty-tive years of age is $500 per annum
| on policy for 81 600. The rate have been
paying in your company has never exceed
| ed $f0.S0 per annum for 81 900 Insurance
| while the average cost has been only $3l IL
per annum. Why then should l surrender
| the policy l now hold to accept one for the
same amount at more than twice the an
nual cost to myself?
TT will hardly be claimed, think by the
! Washington Beneficial Endowment Assocf-
alton that it has the right or power to
| do mere than request certificate holders
to surrender their policies and take in lieu
therefor a policy for a like sum In the
m ere Inc
| pany of New York. And as l do not and
cannot as at present advised, see any pos
sible benefit to be secured by the change
| respectfully decline to surrender the policy
I now held"
Certificate holders will probably talk of
the phSse of the case brought out by Mr..
Miles letter at the meeting tonight, for
they very generally think the association
cannot at its own will, at any moment dis
| charge Itself of all obligations to it's GER
| tificate holders by arranging to have them
| insured in some other concern without fur
| ther medical examination.
Mr.. EckIoT's Complaint.
Regarding the new departure in the
Washington Beneficial and Endowment As
sociation Station Keeper Eckloff of the
Apacostia police station stated to a repre-
| sentative of The Star that this was not the
! first occasion he had had to utter a protest
| Said he: Il am sixty-seven years old, and
| have been in the association for seventeen
years. Everything went along smoothly
| until short time ago, when l received
| circular informing me that Il series of
| class B was to be created and that 1 would
| find it advantageous to be transferred into
| the new series. l was perfectly satisfied
| where L was and paid no attention to the
| circular. But this not the end of it
| AS you perhaps know, the classes are Great
| ed by men of similar ages being grouped
| together. AS l understood 1t when | went
| in, not over 600 men would be put in any
| one class. When a man died in any one of
| the classes the members of that class were
| assessed to pay his claim.
| And was notified that class to COM
| prise men of various ages was to be made
and that | had better change. What was
| my surprise when | called at the office to
| pay my next assessment to find that, with
! out any authority whatever, L had been
| transferred. / vas then informed that the
! cost OF transfer was s., which | paid, as
| the transfer had been made Not long after
! this | mot 4 f.ianl q 1.nsL L.ls III.