The sun., 1904-05-22

The present trend Is In tho direction Of
honesty remarked Henry ID. Lyman,
president Of the American Surety Com
pany, which has been In business since
1884. Honesty is largely matter Of
environment. II can't always he defined
by hard and fast rule. ..
The newspapers these days keep the
public posted as to almost every defaca-
ton which happens In any part OF the
country, whereas In the old days men
stole and cheated just as much and more
perhaps, but 1t didn't get into the news
papers 80 often.
Perhaps. In one section Of the country
five persons. say, will be arrested for en-
bezzlement In one week. In much larger
territory there will be no arrests at all.
Nevertheless. the fact that Ave persons
have been caught stealing In certain
area creates a sensation and causes many
people to believe that stealing has reached
the proportions OF an epidemic. OF course
1t hasn't done anything Of the sort.
when / said that honesty is often .
question OF environment meant this:
To-day. for instance am considering the
case OF man who used some money OF
his employers because Of sickness in his
family which meant doctors bills and
other extra expenses beyond his salary.
Finding he could not make the sum
good as he had hoped to do by borrowing
from other sources, he took some more
money and played the races expecting To
recoup himself In that way Well, the
races did not go his way. They seldom do,
1t seems, under such circumstances, and
he was deeper in debt than ever.
His theft was discovered and we we're
notified. Relatives came to his help and
he discharged his debt to his employer,
although that did not prevent him from
losing his situation.
Now, what l am pondering is this:
That young man has a chance at another
situation II he can give bond. and he has
come here and laid the case before me,
hoping that / may be induced to give a
second bond.
Shall or shall l not do as he asks?
I believe the man is and has always meant
to DO perfectly honest. Circumstances Of
the most trying nature caused him to yield
once-not the love Of pleasure or Of self
indulgence.
That man 10 stronger to-day than he
ever was; and II he gets the bond he will
probably do better work In his new post
than in the old. I have about decided to
give it to him. Some people would say
that the man was thief and meant to be q
thief. lido not
"The other day we gave bond for a rail-
road employee who Is married and has
fve children. He lives In a small town.
Nov, In the event OF sickness coming
into the family or extra expense of any
sort, that mans meagre salary will not 60
very far. If he should default it would
probably be with the intention Of returning
the money, not to steal.
with men occupying positions higher
up it is often the same way. A stress Of
circumstances makes man appear like
a wilful thief. who in reality shudders at
the word even. There are thieves. plenty
OF them, In the community; but considering
the allurements and temptations men are
sub bjected to in these days the trend Of
1T can't help but be so. for the reason
that the people are better educated on
account of the public schools"
Here are some figures which are more or
less significant and indicate that in some
instances at least the larger bonding COM
number OF the defaulters. For instance.
the proportion of LOSSES incurred to premi
ums received by the United States Guar
antee Company in 1908 was 20 per cent.
as against 42.2 in 1901. The American
Surety Company's proportion Of losses to
rremiums In 1898 was 267 per cent; In 1902
Il ran up to 81. CPr cent.
On the other hand the proportion oflosses
paid to premiums received by the fidelity de-
partment OF the Fidelity ard Casualty Com
i,any of New York was 81 o per cent. In 1903
against only 15.o in 1902. and was the hi gh-
est fot this concern In pire years.
The United States Fidelity and Guaranty
Company of Baltimore paid last year in
the fidelity department losses amounting 6
to ss.l per cent. Of the premiu ms; in 1902,
so.2 per cent: in 1901, only 1873 per cent
The proportion of losses paid to premiums
received last year by the National Surety
Company was 1871 per cent, the highest
In the seven years of its existence.
The Fidelity and Deposit Company also
paid last year the highest percentage Of
losses to premiums it has done in ten years
$50 Der cent. and the City Trust Safe De-
posit and Surety Company had the same
experience and somewhat higher per-
centage Of loss.
The Guarantee Company Of North
America, under the head of proportion OF
losses incurred to premium received dur.
ing 1908, charges only is per cent, the lowest
rate in ten years.