Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1913-06-09

theft whether of money or merehan-
disc. who is not bonded
From city officials who are bonded by
statutory communicative Treasurer of
Chicago. for instance. whose reetitude
Is discounted by bond of $1,000 000.
and The Collector of the Port of New
York, whose honesty is worth about
Sfo0, ee0-down to the driver Of an ex-
press wagon. whose potentiaIity for
crookedncSs is not estimated at more
than $500. in some instances, the state
and the individual has sought 10y these
means To protect itself.
one of the largest bonding houses in
New York has in IFS files the records
Of more than 150o.ooo persons whose
history. last and present. is there in
| fullest detail. And despite the fact tha:
| the company is compelled to pay
claims against several OF these every
year, its officials are not overwhelmed
| h. human denravity. Far from it.
As the manager of the company eX-
pressed it: The average man is pretty
straight and goes along and does his
York as he ought To. the great major
| ity are as honest as could be wished.
| N fact. they have To be: If they
weren't We couldn't make moncy--and
we do
The general method OF obtaining a
| bond is simple. The head of depart
\ ment Store, or of bank. or of any
| concern which eontemplates employing
| i man or woman in Il position IN
| which temptation may arise and may
| lie successfully gotten away WITH"
places him at work on probation and.
! immediately sends an application for L
| bond to one of the bonding companies.
The latter requires the employee to
| answer certain number of questions,
| Ia give the names of relatives refer
enees and so on. With these as starters.
| the company goes through that mans
! record as with a iine-tooth comb. and
| according To what ii learns, either ac-
| eepts or rejects the application If it
rejects it the man usually is unable to
retain his position.
The amount of the bond naturally
varies according to the responsibility
of the position, and there are any num-
| Der of Instances of bonds or personal
| honesty being written as high as $685.
| 900. Although the premium usually is
$3.50 for $1,000 this often is Increased
| when the applicant is engaged in a So
| called hazardous line. such as sales
l
| etc.
The bond once obtained, the man
| whose fidelity is covered by it becomes
| Of vital concern to the bonding COM
| lany. He may not realize the fact, but
he nevertheless is the subject of con-
tinual scrutiny and periodical reports.
Not every man. of course; for the
small cashier in a department store. for
| drivers and the host of other employees,
| whose opportunities for stealing are
| both small and rare, the bonding COM
pany cannot provide tracers or inspec-
| tors. 1t cannot afford to do so in con-.
| sideration of the small bond that has
| been written. But in the ease of big
| risks cashiers Superintendent, Treas
| urers, high ofticals-$25 900, $4,000.
| 10000 risks--the bonding company is
! extremely watehful. No one who is not
| on the ""inside" knows the tremendous
| and intricate system of the secret SER
| vice which the bonding companies en-
| ploy.
! But it is readily admitted by them
| that their agents arc constantly
| watching the business and private lives
| of the men for whom large bonds have
been written, and make reports upon
| them sometimes as often as two or
| three times month
| I'VE have agents scattered all over
| the United States" declared the head
| If one OF the most prominent fidelity
| and surety companies, and We can
| place an experienced operator ut work
! or a case at any point in the country
! within eight err ten hours cannot tell
| You exactly what cur system OF self
| protection is; we cannot afford to give
| away the game That way. But | will
say that we hear of things in connec-
| ton with our risks from IA hundred and
! one sources.
Human nature is a very queer prob
| lem and it is difficult to believe how
! frequently we receive anonymous let
| tiers or telephone messages tipping us
off to irregularities on the part of some
! of the people we have bonded.
Suppose YOU have pretty good proof
| that a man is spending more, than he
J should; that is, living considerably