Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1903-09-01

to realize some of the promises on gold
bond" contracts; the Minnesota insur-
ance department sent an expert to in
veStigate few of the companies ana
his report was published, first In the
Times Republican. then IN other papers
outside of pes Moines. The T.-R. APP
peared with an editorial exposing the
plan of the sswindle and 1t was followed
by similar publications in the Cedar
Rapids Republican, Sioux City Journal,
Spirit Lake Beacon and other county
papers. More suits were brought and
pretty soon the National Life and Trust
Company sold out to a Chicago COM
rany. The details Of the transaction
we're never made public. hut it was re-
ported that President Stearns. of the
company, was retained at salary OF
$4,000 per year.
Then came Curtis from Chicago and
he wrote 'em up in the RecorN-Herald.
Curtis was a man With a great reputa-
ton writing in great pepper, and what
ne said hurt. altho he ted nothing new
ard was lamentaIbly weak in his use OF
the evidence. Curtis raised a terrible
fuss, and following him closely Lawyer
Mac kenzie sued the Northwestern Life
and Savings Company for some OF
those Accommodations IN a 5000 con-
tract held by a Miss Cathcart Iheh
the officers of the N. w l.. Il 5. co.
replied to Curtis and tc Mackenzie in
statement published IN Des Moines
and Minneapolis as advertising, in
which Curtis was called scamp and
Mackenzie blackmailer.
1t is needless to comment on the
company's defense. for the n. w. l.. q
S. Co. was sold to Minneapolis con-
earn three days before it issued its de-
NAL and counter-charge. The Mac
kenzie suit has since been settled by
payment of the clients claim. The de-
NAL was no defense at all, but bluif
1t had simply become too hot for the
company Men who are making the
money they claimed to be making, VINO
are doing so good a business as they
claimed TO be doing do not sell out vol
unfairly or as business proposition
alone. They have run for shelter
The substance of the denial, however
is that the n. w. L. & S. Co. never Is
suea a gold bond contract. Techni
cally this is true. But a jimpson weed
/ by any other name smells just as bad
The Cathcart policy is A 5000 policy is
sued In 1901. The premium is $50 pei
wear time ten years. 1t is called q
policy" 1t promises $500 and "aeeu-
mutations" in ten years and Miss Cath
cart has to pay the company $500 in ter
years.
The Burns policy sold by the Nation
a, Life ana Trust Company is $500
policy issued in January 1901. The
premium is $50, time ten years. 1t is
cat a gold bond 1t promises $500
| ans. .accumulations.' Wherein is this
| difference? Yes, there is a difference
| i'll Gegrae, hu, not in iniquity. The
catnaart policy agrees u pay the heirs
| Of tas insured $500 If death should oc-
cur wlthfn i've years. These Christian
pililanthropists are careful not to pay
more than they get. The Burns policy
| is more conservative. Lest 1t nigh
PROSTATE the heirs With the shock tbs
company agrees TO pay only $50 /
i death occurs in one year. $3.50 if with
| in the second year. etc. In all other re-
spects these contracts are alike. one !:
not called a gold bond" TO be sure, bu
both are the same kind of "gole
brick Any regular life Insurance
policy would entitle the heirs to th'
full amount of the face Of a $500 con
tract If death should occur the next da,
or any day during the ten year perfos
| and cost people Of the same age from
/ II tn 80 per cent less according 20 divi
dends. Think OF 1t In order to sci
such a policy" the victim Is promise
fabulous Accommodations" Litera tur'
estimating" 100 per cent In ten years
was found by the expert examiner. Nov
come the company officials with thei
advertisement in the public press stat
/ ing that the victim viii receive onl.
such proportion as the company ma.
see fit to give" They take UP tn
Cathcart policy, cali the lawyer 1
b,ackmailer and boldly proclaim 9TH
4 company has no fear of the trial. Tn
business of this company has been 81
transacted that the men who stant
sponsors for 1t have nothing to con
ce,al." And yet they pay Miss Cath
cart her money. What were the.
afraid of IL not the trial? But gol'
brick insurance has gone the way o
speculative building and loan and tn
Ipublic may now expect the same graf
to appear In a new form,
IOWA OPINIONS AND NOTES.