Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-09-07
THERE WILL BE MORE OF THEM.

The "get-rich- quick" people in Des
Moines are unhappy. Heretofore their
victims have been doing the walking,
now the bitter is doing some walkins-
Parties in Dallas and Guthrie counties
have brought suit against the North
western Life and Savings Company
asking that receiver be appointed,
and claiming that the pclicyholders are
entitled to the assets and not the Or
gani1ers Wicked lawyers are encour-
aging these men to believe that they
are entitled to their own money. and
good lawyers say that the prayer of the
are successful, then the proposed sale
will never be consummated, and in all
probability similar actions will be
brought against the National Life. We
have before US a letter from one Of the
most high-nlinded men in Iowa. He is
high UP in insurance circles, and is well
posted. Hear what he says:
Il have no doubt other companies
will be organized to take the place of
those which have passed away. We
have already heard a ramon that Mr..
- is proposing to organize am
other company. If he doesn't some
one else will. And if they do not do the
short endowment business, they will do
some other kind with little more credit
to life insurance principles. The stock
holders OF each of the large companies
which have recently reinsured have re-.
ceived very large returns for their in
yestment. As, long as that continues to
be true, men will organize companies.
And men OF good standing will be found
who will lend their names to the trans
actions. The outcome OF the re-insur-
ance of the Northwestern, where stock
holders are said to have received from
three to four hundred thousand dollars,
Is almost sure to be the organization of
d dozen other companies. The stock
holders Of the Northwestern got, IN adj
dition to large profits as they went
along, from $500 to $500 for every S25
they put in. AS long as this Is possi-
BILE, greedy capitalists will continue to
organize companies. It might be In
ieresting to know where the money
comes from to pay for this stock. What
a travesty on justice it would be should
we discover that 1t was actually paid
out of the assets of the company 1t
self"
Can such things be in Iowa, among
an intelligent and enlightened people
No wonder Ex-Governor Larrabee was
I led to exclaim in hotel lobby at Des
rAa ,inoc tho atfar MI nt ss,There has been
ID good deal OF what amounts to moth
ing else than obtaining money by false
pretenses." Think of this. that leading
sdnanciers and ex-state officials are
Apenly accused by Ex-Governor LARA
Zee, of obtaining money by false pre-
lenses.
But the letter from which we have
quoted above was written before the
suits were begun. If the plaintiffs re-
cover then no more gold brick" COM
panies will be organized, and the graft
will be worked along other lines. II
the stockholders of the Northwestern
fail to get their 1.600 Per cent profit,
now that 1t is in sight, It will diseour-
age a similar effort in others 1t must
be exaspera ting to a fellow to have
100000 in sight, within reach, and
then have ii slip from his fingers. and
ct that is just what is liable now to
Appen, and all honest men hope that
ihis very thing Will happen.