New Iberia enterprise and independent observer., 1911-04-01
Banks have been the severea

Il
tbam
Prosnari+v j -Ea condition .a
which his c5urag. rhrives This
j ,hown IL fne record thar -h-
highest Eio71raS ever reached by
embezzler> in one year was III
1906. few mguths before the pan
ic Of 1907 ~ loss by tbs species
Of theft the year beng over SIS
GgO0Oo
The vast majority o. Residents
q he Cnird State, ar. S,llI p-r.
f-r-Iv honest. The bulk i the
men daily trusted v.ta others
money are We worthy Of every
ounce Of trust placed IN .a.@. oh
efvi>e. the business Il the rouu-
Try would be in a rotten condition
land We should h. Wa.l1WinC p
e mire instead Of leadlng the
world in the healthy delights and
wholesome -riuuphS Of life.
The industrial .eadcr> II th.
United States are hut coming t. a
realization Of the enormous waste
in the dishonest man : d >>lpauln
and joining thr natl nal moNemrA.
for CONSERVATION al al oar r.
sources.
- disastrous Is tie effect oL
5 golden plague upon business.
upon the general handing et mon
eH by trusted persons, that AanN-
etS associations. Sta e oahNlhg
departments ana the nlIfd ;. a e>
treasury nave wrecked thef
brains 10 ina a remedy.
To meet the need. Just a> llre
insurance companies are sbeadIAS
toni and dollars and are >aee'ed-
me 10 the effort to check 1Ie. vast
waste py IRE III tilS country. nee
has come mo existence klhd "1
corporation that lnS'lfes govern
ments. wards ~ courts ana pilN-
dte business aI"'''>1 ~, ne 4i>.i"''S,,i l
oi s"1'. ui5i"tss. i ass I'd, ''UI-
.IpnJo ti}' anu H"'T i 1'N Il IL SiA'
WoHoeII"iIH W, III 'I[ last 5eh years
nv I "SHIaII" loF ll's.r SelN ! - I">
mace nfAIIH tNe'H cue - lne-n
~ o..S lin""''"l s"'yss> : IN '"'
oes l"N'ns
They have no more desire to pay
the losses OF the men or The In
sututons that they insure than
the fire companies have 10 loot tn
bills for damage done by flames,
So these new insurance corpora
lions. known as surety companies.
take Just as exhaustive care to.
learn the conditions thai VII lead
a man 70 theft and then 10 pre-
vent the, as fire insurers do IN H.
spectlng premises. having flFe de
partmen.s improved and extend
inc the bounds Of municipal dis
tricts in which frame buildings
are forbidden.
How the surety companies 90
about this phase of their work is
an interesting story in itself.
The man whose honesty is t. be
insured, the officer or other en-
plove, as a rule APPLIES for the in
surance himself and IN most eases
paws the premium. The form Of
the insurance is the fidelity bond. |
a familiar business instrument. /
now. from the humblest firm to I
the Standard Oil COMPANY.
The subordinate who apnlies for /
the bond guaranteeing thai he will /
not steal. and if h does. that the
surety company will reimburse
the emnlover. must tell the surety
company his record AZ a wage !
Garner. Agents of the surety
company then set almost unlim- |
tied means of Investigation 10
work 70 unearth about every sig
nificant act of the applicant in
position Of trust and to determine
definitely if he is really trust
worthy. By that procedure a
surety c0mDanE can Keen mint
persons out of a public office or
civil employment. and thus render
an effective service at the be-
ginning.
Next. if the applicant i found
to be clean and is bonded or guar
anteed bv the surety company.
those same agents watch him close
" in office and out TO make sure
that he remains clean. If he |
takes one step off the straight and
narrow path they ometlv suggest
that he return before he has done
actual wrong. If he manag ; 70
filcb his EMPLOYERS money. after
all. the company promptly makes
the loss good and then takes up
the chase after the defaulter.
There ara no detective stories
axtant more thrilling than those
that could be told daily bv the in
spectors of the snretv companies.