New-York tribune., 1921-01-23
KNIGHTS OF COLUMBUS


UNITED we stand; divided we fall' represents the
principles upon which the h. of c. acts.
MIR. John B. Kennedy, publicity director of the K
OF C., was good enough to write the following letter.
winch is printed here with his permission as evidence
OF OF sincere cooperation in putting national
thrift movement and approving the motive Of Henry
L. Doherty & Company in their efforts.
Mr.. KENNEDY,S LETTER
KNIGHTS OF COLUMBUS
Committee War Activities
New York City
los West 4oth Street,
January 18th, 1921.
Henry L. Doherty & Co.,
60 Wall Street, New York City.
GentIcmen.
have read with great interest the gospel Of thrift
as written in yours and Mr.. William c. Freeman.
press statements, and am led to wonder whether or
not you know that in the Knights of Columbus tho
principles of collective thrift and by those
principles through individual practice.
Founded in 1882 by eleven under the leader
sh ship OF young priest, the Reverend Michael J.
of Columbus is international organization of
100000 men, operating exclusively in North America
throughout the world a strong, benevolent union
of !aymen. The reputation achieved by the Knights
of Columbus for and reconstruction work is the
foreground of of civic and patriotic utility
founded on the spiritual bond of faith and the
ferial bonds of thrift that have tied together tho
hundreds and thousands of men who have joined and
remained In the ranks of the order.
While promoting the religious wellbe;ns Of II.
membership the Knights of Columbus, from its very
inception, was thrifty organizafi0n-an organiza-
t,on practcing collective thrift and preaching in
dfVduai thrift In less than forty years has built
up the strongest, at least of the strongest,
fraternal insurance systems in the word-2350oo
men from IL to 20 years OF age holding certificates
in the organization. In its the K. of c. has
paid benehciaries to approximately that number of
men, sums varying from, to three thousand dol
lars. And through sick benefit funds councils Of the
organization have paid out millions OF dollars to
thrifty members who were encouraged to subscribe
to those funds the tontine and other bases
About two hundred knights of Columbus buifd-
ingS stand in many cities in this country and
Canada. built by the thrift Of members who took
stock in the building corporations. / believe it is
X. of c. are so many local headquas fers for the
spread of the thrift movement because the lecture
programmes carried out by these councils never fail
to include practical talks by bankers and others
familiar with the mechanism of investment
The board of directors of the knights of Columbus
every item of whose financial dealings as a board is
made public to the entire membership invests yearly
many millions of dollars of K of c. funds and their
mana cement has been astute that the K. OF G.
actually been able to waive many assess
the extraordinary loss Of sl,25o,ooo during the in
huenza epidemic without having their rates
THRIFT SO WELL PRACTicED AT THE TOP
OBVIOUSLY CARRIES ITS MORAL TO THE BOT
TOM
The Knights handled their war welfare fund of
S4OOOOOOC without charging cent TO overhead
expenses, because through intelligent purchasing and
prompt payment of bills--whcf have as much to do
with the practice Of thrift nvestnenf-thev
obtained discounts sufficient to meet all overhead
costs.
J, FOB ABOUT FORTY YEARS THE K. OF c.
HAVE PREACHED AND PRACTICED THRIFT
They will preach and practice thrift long as thew
continue active organization They believe that
thrift is not matter of "drivng' or "campaign-
ing, but the planning and efectng of substantial
growth, the inclining Of the mind Of the
to the habit of thrift and safe invest
ment They ready always to cooperate with
every enlightened ant disnterested movement to
spread the gospel of thrift and believe their record
is sufficient warranty Of the value of their CO.
operation
May add that tremendously interested in
your efforts inst in the minds of all people tn,
necessity Of practicing thrift? Cordially
(Signed) JOHN B. KENNEDY,
Mr. Kennedy in personal conversation with me
IN my office Thursday afternoon, Jan. 90 1921 said
Mr. Doherty and associates have struck the right
note IN urging everybody to practice thrift.
Not only is it duty for every worker to Law
ASIDE from his earnings enough TO maintain an ac-
count III savings bank-to pay life insurance pre-
mlums-but he should invest the securities that
keep going the industries of the country In addition
the X. Of c. teaches benevolence and brotherhood of
man. which they consider important.
he firn, f1. ,1I.e