The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1899-04-08
VOL. XXXIV.--NO. 24.

paid in losses since its organization S744.-
1853 the largest single loss being that
incurred by the defalcation of A. c. Wild
ber, treasurer of the county and city of
San Francisco, Gala, of S10O, SIG. Sc.
The records in these cases disclose some
interesting facts as to the fate of the de-
taulters and the circumstances connected
with their acts. Ten of the defaulters
committed suicide in order to escape Just
punishment 22 were sent to prison and 2
to insane asylums.
BENEFIT TO CITY AND STATE.
The organization of the Fidelity and
Deposit Company of Maryland has been
Of great benefit to Baltimore and the State.
As heretofore mentioned, its employees now
number SO, whose aggregate salaries for
the year 1898 amounted to s93, ,3S4.19.
Since it began business it has paid in sal
aries to those residing in Baltimore S375,-
763.3 33. 1t has paid for State, city and
county taxes in Maryland alone since its
organization S104, 641 81, which is one
third the amount paid in dividends to its
stockholders. OF this amount s57, OTIS
was paid in 1897 and 1898. 1t has paid
50 far this year to the City of Baltimore
$50, 46O.34.
The success Of its efforts in behalf of
corporate suretyship unquestionably made
1t possible to organize the two other COM
panies doing similar line of business in
Baltimore, namely, the American Bonding
and Trast Company, which was incorpor-
ated in 1894, and the United States FL
deity and Guaranty Company, which was
incorporated in 1896. Each of these
companies is contributing its share to the
prosperity of the City of Baltimore and
State Of Maryland in the way of taxes and
expenditures for salaries, &c.
The combined assets of these two com
panieS amount to about So, 500, 900,
which added to the assets of the Fidelity
and Deposit Company of Maryland of S4,-
097 000 makes total of 1891, 900
employed in the surety business alone in
the State of Maryland The total cash
premiums received by these three eompa-
uies in 1898 was 81, 332, S48, of which
SSl9, l24 was received by the Fidelity
and Deposit Company of Maryland
The Fidelity and Deposit Company of
Maryland has, by its wide-awake and pro-
gressiye policy, attracted the attention of
business men in every section of the coun-
try to Baltimore as a financial centre.
HELPFUL To THE PEOPLE.
The business done by the Fidelity and
Deposit Company of Maryland does not in
any way conflict with the profession, work,
employment or efforts of individuals
What it does Is simply insuring or guaran-
teeing the honesty Of those occupying
positions of trust.
Il enables widows to administer upon
the estates Of their deceased husbands, and
10 become guardians of their infant chill
dreu Men of limited means, by using it
a, surety, are able to take responsible po-
sitions 1t relieves those possessed of
wealth from becoming surety for friends
and thus jeopardizing their estates.
Of the S744, 795 81, which it has paid
in losses since its organization s76, 500 SO
has been paid in the State of Maryland.
Had 1t not been for this company that
loss would undoubtedly have fallen upon
individuals, and would, no doubt, have
caused great suffering.
1t can, therefore be truthfully said that
such an institution as the Fidelity and
Deposit Company Of Maryland is bless
iBg in any community, and Baltimoreans
should feel proud that this company was
born in and has grown to such greatness
in their city.