The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1901-07-21

JUDGE pOTrERr RETURNS.
Matters Affecting the Endowment
Rank Shortage Discussed.

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of the Supreme Lodge OF Knights OF
Pythias, called to meet July 9th.
Mr.. Potterf, on being asked by
reporter rs to what was done at the
convention, answered that steps had
been taken to correct defects and
abuses in the management Of the
Endowment rank, the insurance
branch of the order.
He states that when the present
administration took charge OF the
affairs of the Endowment Rank a
few months ago its condition was
found TO be unsatisfactory.
In the first place the rates Of in
surance were TO low TO meet the
death losses occurring, and which
must necessarily occur.
In the next place their suspicious
we're aroused that the endowment
funds were not safely invested, and
had in part been misappropriated.
The new board OF control made
careful investigation, and then not
wishing to be held responsible for
any detciencies or misdeed OF form.
er management, and believing that
the fullest, complete aud impartial
Investigation should be made, they
asked tho insurance commissioners
Of Illinois and Connecticut to make
an examination also, which was
done.
The result showed that on June /
1901, the gross assets upon the books
s625, ,239. so, and liabilities for same
date $500, 1928. That the assets
$500, ,3s3.73 we're not passed or app
proved by the Insurance commission.
ers, because of the doubtful value,
thus leaving an apparent deficiency
OF S225, ,267. "a. Ii Ia thought that
much will be realized from assets
not passed, but same are not readily
convertible into cash now
It was disclosed to the supreme
lodge that the outrages perpetrated
on the order we're the acts OF a very
few men.
With but one dissenting vote the
supreme lodge authorized and in
structed proceedings, civil and orimi-
nal to be instituted at once against
the wrong doers.
Full reports will soon be sent to
every subordinate lodge, showing
proceedings OF supreme lodge, and
the status of the rank.
There ia no reason for the member
ship of the order, which numbers
about a half million, becoming dis
couraged, said Mr.. Potterf
The order Knights OF Pythias can
and would readily exist without the
insurance feature, but this Is not at
all necessary.
The endowment rank is now on
better basis than three fourths Of
the fraternal insurance orders.
We have simply done what all
others must do within wear or two
viz: Adopt the rates recommended
by the fraternal congress. These
arelhigher than our present rates,
but much lower than old line com
panies.
The legislatures OF several states
have already required this of frater-
nal orders, or that they cease to do
business. AS the whole order of
knights OF Pythias are behind OF and
guaranteeing the policies in force,
the Supreme Lodge concluded not TO
mince matters at all, but to reotify
all evils and mistakes, and start
right and stay right.
A number OF other fraternal orders
have asked the insurance commits
sloners of various states for a year
or so TO get matters shaped up, when
they promise to adopt tho rates Of
the fraterual congress.
The amount of money we have lost
is a small thing. The moral phases
of the losing is what hurts us. The
present board Of control is composed
OF thorough business men, who have
for years studied the insurance ques-
tion, and are pushing, energetic and
above reprosch.
A thorough system of checking all
accounts has been adopted 80 as TO
prevent evils of the past, and all off,
GERS and clerks are bonded with the
best surety companies.
1t ia to be expected that there will
2
be loss OF membership for time,
until the true state of things is
known. Other orders will claim for
time their rates are cheaper, and |
will never be raised, but this will |
only be temporary.
Those members who hold their pol
icies and pay up will be best on.
The Knights will not allow fail.
ure.