Goldsboro weekly argus. [volume] (Goldsboro, N.C.) 1885-1909, 1901-08-01
TOOK RIGHT COURSE.
AUDITOR HART IINDDRSNS
ACTION OF ENDOW-
MENT RANK.
Seized the Right Horn Of a Di-
Iemma When it Kept Away
From Receivership.

"Ihe Endowment Rank. knight
OF Pythias, had the usual two horn
to It's dilemma" said State Audito
Hart last night. ''One horn was t,
raise the amount of it's deficit by a,
additional assessment, while tn,
other was to go into the hands of ,
receiver. Because of the affiliatio1
OF the Endowment Rank with The
general order of Knights of Pythias
receivership would mean takine
control by the courts of all the af
fairs and property of the Knights oi
Pythlas throughout the United
States.
The Supreme Lodge has acted in
a very sensible and honorable man
ner to it's members in concluding to
raise the rates in accordance with
the table of the Fraternal Congress.
which is an association of the bet
ter fraternal companies of the coun-
try. By this means the affairs of
the Endowment Rank will in few
months be in splendid shape, so that
Its delinquent death losses will be
paid and the mortality of the future
provided against.
Two years ago, when the f,atern-
al Insurance law of Indiana went in
to effect, I accepted the financial
statement of the Endowment Rank.
but felt considerable hesitancy about
1t. l on'y concluded to accept the
statement when I was assured of
the responsibility of the entire or
der for the financial affairs of the in
surance department. Tn year when
the financial statement was present.
ed there had been some material
betterment in that the order showed
an increase Of 5000 members and
was in no worse financial condition
than it was two years ago, but ] re-
fused to issue License to the rank.
L consented, however, that it might
transac. business in Indiana until
after the examination of it's affairs
was completed by the insurance de-
partments of Illinois and Connecti-
cut, and the report of that examina-
ton was acted upon by the Supreme
Lodge. |
STRICT BUSINESS METHODS.
Il think that under the manage
ment of Mr. Neal, of Lebanon. the
new president of the board of con-
rol O. the Endowment Rank, strict
business methods will prevail and
til. rs will be no investments in the
shape of second mortgages and am
lulte sure no personal pull on the
'he purse strings of the rank will be
Auditor Hart expressed amaze.
nent at the looseness of business
Methods that characterized the man.
cement Of the Endowment Rank
before the recent Investigation.
Why any board of directors should
AVE permitted such an inyestment,I !
s. was made in the Lexington
1otel," he said, land in half dozen
ther items that went to make up
he ranks so-caIled assets is more
han any sane person can under
tand. This all grew out of two much
ne man power and superabun- T
ance of hypocritical brotherhood.
''The fraternal insurance COM U
anies generally, however, have
ome to a recognition of the inexor- A
bic truth that death natures GER :,
ficates in fraternal company just
,e same as it does in any other in =
france company, and, unless rates g
ear some relation to the mortality. CT
is only question of very brief b
lper1erce until disaster is written
ross their horoscopes.
And SO the older companies that g
sgan on light mortality cost have. =
many instances, increased their
tes, and number of others are
'ntemplating such a change. At s