Richmond planet., 1895-11-30
he SPEAKS AGAIN.
Mr.. Banks Discusses the
Browne Grab.
FalIacious and Mislead-
ing Figures.
Is the Organization Sol
vent?
WAS THE MONEY TO COME FROM A
SURPLUs2
That Apparent Effort to OOnOeal-Will
the Officials Answer
That Apparent Effort to Oonoeal-Will
the Officials Answer

INC OAuOld1b Answer
Editor of PLANET:
admire your persistence in keen
ing public attention upon the serious
0lunder OF the Grand Fountain in Civ
ing Mr.. Browne $50, 600 Of money which
was put into the hands of the mana
gers OF the Order for totally differ
ent purpose.
In your issue of the eth inst, here
appeared a letter from Mr.. Isaac II.
Smith, successful banker Of New
Berne, n. e in which he argued that
the Grand Fountain had right to
vote Mr. Browne a bonus, provided
only that that bonus came out of a
surplus.
AN INTERESTING QUESTION.
There are many bad sides to that
much discussed act, and not the least
OF them is the one suggested by Mr..
Smiths communication, nan1el- that
this large gift was probably made
when the Order had nothing beyond
its capital or plant liabilities.
Did the Order have a surplus at the
time that Mr. Browne persuaded our
delegates to give $4,000 for his (?)
plans. IL there was a surplus Mr..
Browne and his associates and spokes-
men have carefully concealed it In
their statements to the public. In all
the talk that these people have made
In print and from platform they have
never given a complete statement of
the assets and liabilities OF the Order.
have never made q clear showing of
its financial condition.
Mr.. Burrell in the first issue Of the
Retormer after the annual meeting in
September, in answer Co the question,
How does the Order stand ?" gave
the estimated prospective receipts OF
the Order for one year deducted from
the estimated prospective disburse-
ments. and drew down the small differ
ence to show that the Order ''is solid -
Absurd I" your readers viii exclaim.
but that was Just what MIR. Burrell
did, and he. the Secretary of an insti-
tution that claims to be the financial
lighthouse for the guidance of the en-
tire Negro race in America
Mr. HILLS PREDIcAMENT.
Mr.. Hill in the first issue of the half
monthly Reformer undertook to an
swer the same question with figures
whose incompleteness rs apparent to
an observant 1O-ysar old child
The table which he made showed
the, holdings of the Order to be $l54,
600. AS liabilities, he showed nowhere
in his table or communication, the
amount of the paid up capital of the
bank, and the amount that should be
in hand according to the best rules of
insuras ce, as guarantee to the hold
ers of its policies in classes "E'' and
"B The bank stock subscribed and
paid by members amounts, let us say ,
TO $4,000 certainly not less than that
for Mr.. Browne has said several times
in NY hearing that the authorized cap
ital 500, 900 had been nearly all tax
en-
The best insurance companies of the
Country hold themselves. and the law
holds them liable for one-twenty- fifth
of the SUM of their outstanding poll
cies. Under this rule our outstanding
policies being $l,250 the Orders
present liability to poliey-holders in
Glasses "B" and ''lc'' is sc. 600.
These two items of liability amount
ing TO $4,000 were entirely ignored
by Mr.. Hill in his statement. They
completely wipe out the amount which
MIR Hill showed as the net assets of
the Order and place us in the hole
$4,000, rather than $780, 900 up as Mr.
Hill would have us believe Mr.. Hill
omits to reckon with other important
liabilities, and yet we are called
"marplots" for refusing to accept his
conclusions.
INFORMATION WITHHELD
Mr.. Browne has not deigned to make
any statement at all as to the actual
financial condition of the Order. but
the figures of Messrs. Hill and Burrell
must certainly have met with his ap-
proval or they never would have been
published.
AS TIE TEACHER, so is THE PUPIL.
Mr.. Browne hugs to his bosom the
fond delusion that he has taken $50
! paid S7CO, 900 or more in sick and death
benefits out OF it and has left seven de-
partments and lots of money. He
conceals the fact that what is left. in
money and property, is much less
than the difference between the total
receipts from the people and the total
payments to the people. Mr.. Browne
is, in some ways a clever man and has
in him some strong elements Of lead
ership, but he has not accomplished
ali that is claimed for him by lots of
people who think they know.
Before joining the Order, discover
eddefects and inequitable features in
the business system which Mr. Browne
devised for the Order. but there
proved to be enoHgh points of excel
lence to enlist my cooperation and I
/ gave Mr.. Brownies management my
| full endorsement until he caused to be
voted to himself $4,000. under a
claim which he must have known was
not fair or valid.
Think how absurd t is for man to
make claim that he is wonderful A.
naneier and a careful business mar
) nd then TO accept from the Treasury