The daily morning journal and courier., 1901-12-17
MORNING JOURNAL
OWES S8O,OOO IN BENEFITS
THE MASONIC MUTUAL BENEFII
 SOCIETY B4NKRUPT.

ceiver to be Made-Fatiure to Secure
 the Financial straits-Tho Orgapiza-
 ton Established Twenty eight Years
 Ago.
 | The Masonic Mutual Benefit associa-
 tion is in serious financial difficulties,
 owing about $S0,000 in death benefits
 and having very little in the way of
 assets. Application will, it is expected,
 be made to the superior court to-day 1 for the appointment of a receiver. | The organization, which has been in existence over quarter of a century
 amounts in death benefits, has been in
 financial straits for some time, due, it
 is said to inability to induce new mem-
 bers to join the society.
 There are forty unpaid death claims, and payment of these had been deferred
 so long that finally some of the benef- ti'i ISo tOpfA SGcl SlCpo lO pSluiC SGltlC-
 ment of their claims, and Helen Gris-
 wold, of Norton street, widow of the
 late William L. Griswold, who had been
 a member of and paid into the society
 for a long term of years, brought suit
 for $6,000 Funds of the concern to the
 amount of $6, 300 were attached by bene-
 ficiary creditors.
 This suit precipitated matters, and
 the directors decided that the associa-
 tion was doomed. Some of the diree-
 tors were inclined to, believe that a settlement might be made with heirs
 of deceased members, and an effort in this direction was made. It was found
 however, that such a solution of the
 difficulty was out of the question and a receivership was decided upon.
 The statement submitted to the direc- tors by Secretary R. L. Chase at the last meeting showed that the total in debtedness of the organization for death benefits is over $S0, 900. To meet these claims the association has but $6, 500 on hand
 Some of the directors suggested that the association make an offer to settle all claims on a ten per cent. basis, to be pdiu liIliIltQldltly. UT liiUSe NllU were not willing to accept ten per cent. in full for all their claims 1t was suggested that the association offer to pay twen- ty-five per cent. in five months, with five per cent. interest added. This of fer was made to a number of parties, but was not satisfactory. It seemed a hopeless task for the directors to settle the claims, and as a last resort they de- cided to seek relief in the courts.
 The Masonic Mutual Benefit associa- tion was organized on March 16, 1874. When first organized, and, in fact, un- til fourteen years ago, the association worked along very simple lines. Each member was assessed about dollar for each death. This plan was follow ed for fourteen years, when the direc- tors voted to adopt the graded assess ment plan. This was not changed until two years ago, when the association, that something must be done to infuse new vigor into the organiza- tion, decided to inaugurate the stipulat- ed assessment plan. This is the same as the old line insurance company plan under which the members pay a pre- mium rate.
 DeSDltE lIlt SllbllS Ol lnt ulltClDIS and officers to rehabilitate the associa- tion, the membership began to fall off and the conditions gradually became more ominous. Since 1894 there has been no appreciable growth in member ship. In that year the associat on had | 2,270 members and while everything seemed prosperous, the members who had knowledge of the history of other fraternal insurance orders realized that the time was coming when new measures would have to be adopted to keep the order alive.
 Three months ago statement of the | condition of the association was mailed [ to all directors. The necessity of in rreasng the membership and of bring ing in younger members was fully out lined. The statement plainly showed the members that the association was In desperate condition and many at once concluded not to pay any more as- They believed that the ap peal of the directors was the beginning of the end and that no more death ben eft claims would be paid. This belief was shared so generally that there has been falling off of 3A members dur US lft past lil tt llIDillliS' w lIllt llfIS effect was feared by the directors at the time, they realized that it was due the members that the true state of affairs )e made known. At the time the direC- .ors decided to take the members into heir confidence death claims ageregat- ng many thousands of dollars had ac- 
 Last year the total number of deaths vas fifty-eight out of membership of tbout 200O. This was higher than the leath rate of any other similar associa- ion. The average age of the members vas sxty-four years, which is remark .bly high. The unusual death rate is ue to the fact that for years members were taken in at any age and without a medical examination. Under these cir it is the general opinion hat the organization has lasted won- erfully we'll
 Since the association was formed in S74 there have been $50 deaths and over 1 800 GOO has been paid out in death enefits. This large sum has been paid lmOst exclusively to families of the de- eased members in Connecticut. Some f the members who died and whose antilles received the death benefit were evenly years old when they joined the ssociation. ic 4Lo