The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-07-28
COMPANY WINDING
UP ITS BUSINESS
Mutual Investment Association
Will Pay About IS Cents on
the Dollar.
RECEIVERS NOW AT WORK
Will Need Some Time to Con-
Glide All MattcrsWllo
Made Complaint?

AS far as the officers and directors
are able to say. the Mutual Investment
Association. which is now in the hands
or receivers, Will pay holders of certif-
ties about 55 cents on tile dollar The
amount may possibly vary slightly
from that estimate, but there Is not
likely to be any shrinkagc.
Though the company's business nj
fairs were conducted honestly and cco-
lnomcally, 1t was forced to suspend ny
reason Of ruling of the Postoiiica
Department that It's Investment plan
was in the nature Of a lottery. Tie
department, suggested that one feature,
Followed for seventeen years without
Icomplaint. be eliminated, but as that
would have threatened the destruction
lsof the concern, It was thousht hcst
| to liquidate.
| Decided to Quit.
Had the association failed to obey
| tile Federal order, It's officers and d.
| rectors would have been liable to Grim
linal prosecution, and, inasmuch as they
| are men Of Integrity, they decided
promptly to Quit. The name OF inc
/ Mutual Investment Association VIII
pass out of existence and no attempt
will be made to organize again.
/ 1t will take some time to wind VI
4 the business. Mr.. H. A. Mccurdy arc
i Mr.. e. Leslie Spence receivers, Wi
report to Judge Grinnan, q the cha an
i cerv Court The assets are tot fic'
Ititious. and it Will not be dlf'icult 7,
slpro- rate them among the certificate
tlholdcrs In fair and eqri.ahlo nan
ner.
Had 1t not been for the characte1
4 OF the men behind the concern, mem
4 bers Of the association woui1 hnv'
been more greatly excited than tic:
q were yesterday. Early in the nornln,
1.-the telephone in the head Office bega1
1 ringing, and those seeking Information
wanted to get few more detail
4 than had been printed. A4largo nu,n
= Der called during the day to talk owe
1.-THE situation, but they accepted T. 1
q q, matter of fact way. being satisfe
THAT as the association had TO go gu
q of existence. the money row IN tn
4 treasury and invested In safe sccuri
s. ties would be divided so that al
would be treated fairly and shar
3 alike.
n statement Issued.
: The most recent statement ISSUED r
1.-THE association gives these facts:
THE Mutual Investment Assoc
citation is purely a mutual bene--
fetal society. 1t has no stock
q
n ers It IL managed by Its mem
hers. and all the profits go TO Its
membership, and the members are
e all on exactly the same equality.
r The basic principle Of DUR plan
is not new, but very old; 1T IS the
r same as all cooperative societies
y have ! used - for hundreds OF .years.%
;."Our past experience has proven
that our plan.is both feasible and
practicable. We have paid to our
membership s5O419o.5O to the ii's:
e day of June, 1907. and have In tha
: reserve fund s143,2o5.26.
{ THE books and methods of the
y associa ton are always open 20 the
r inspection OF the members.
t. Certificates are redeemed and
:, cancelled each quarter. the mem
Der receiving cash, not5stock.
I TT you desire to make money by
q putting aside a small monthly
& payment, become a nle,nber@of the
e association, and II you continue TO
comply with the agreement. you
will certainly make a good proat
on your Investment
,dI THE certificates are Of the de-
#E nomination of $3.50, and the month
As " instalments afford an easy
Is means to secure safe and profi,a,-
:, BILE investment"
IN There is some curiosity to kno
20 from what source complaint w
Of lodged with the Postoftice DEPARTING,
"a On this point. however. there is !
rc information. and the identity OF I
y. complainant may never be 61uwn.6