The New York herald., 1921-01-23

los West doth Street.
January 18th, 1921.
Henry L. Doherty & Co.,
60 Wall Street New York City.
Gentlemen.
have read with great interest the gospel of thrift
Us written in yours and Mr.. William c. Freemans
press stateentE and am led to wonder whether or
not you know that in the knights of Columbus the
country has unique organization, built up on the
principles of collective thrift and sustained by those
principles through individual practice.
Founded in 1882 by eleven under the leader
McCivney, of New Haven, Conn., to-day the Knights
of Columbus is international organization of
500 900 operating exclusively in North America
and the possessions OF the United States, but knomn
throughout the trortd strong, benevolent union
of laymen. The reputation achieved by the Knights
of Columbus for and work is the
foreground of of civic and patriotic utility
founded the spiritual bond of faith and the ma
terial bonds of thrift that have tied together the
hundreds and thousands of men who have Joined and
remained in the ranks of the order.
While promoting the religious wel,-being of it's
membership the Knights of Columbus from it's very
inception, thrifty OrgGnizdtiOn-an crganiza-
ton practcing couectipe thrift and preaching in
diUdtaI thrift In less than forty it has built
up the strongest, at least of the strongest
fraternal insurance systems in the word-235,o00
men from Is to 70 years of holding certificates
in the organ zation. In its career the K Of c. has
paid benefciaries TO approximately that number of
men, sums varying from one to three thousand dol
organization teVe paid out millions of dotinrs to
thrifty members who were encouraged 20 subscribe
to those funds on the tontine and other bases.
About f,co Hundred Knights of CotpsDus b8't-
ings stand in as many cities in this country and
Canada, built by the thrift Of members who took
stock in the building corporations. believe it is
no exaggeration say that the 1900 councils Of &i,c
K. of c. are SO many iocul hea3Quartcr0 fo- the
spread Of the thrift increment because the lecture
programme carried by these councils never rail
to include practical talks by bankers and others
familiar with the mechanism OF Investment
The board of directors of the knights Of Coiu,buo>
every item of whose financial deaingo 90 beard is
yearly many millions Of dollars Of X 81 c. fu,ds and
their management has been astute that the K. OF
T. have actually been able 10 waive many Insurance.
assessments their n1ennbers yet they able
sustain the extraordinary loss of 81 ESQ 0c0 during
the influenza epidemic without having to increase
their rates.
THRIFT 50 WELL PRAcTIcEp At THE, TOP
OBVIOUSLY CARRIES ITS MORAL TO THE BOT
TOM.
The Knights handled their war welfare fund of
$40 900 ,Ooo wthout charging cent to overhead er
penses because THROUGH ints sigent purchasing and
with the practice of thrift actual nvestnnent-
they obtained discounts sufficient to meet all
head costs.
FOR ABOUT FORTY YEARS THE K: OF c. HAVE
PREACHED AND PRACTICED THRIFT. They will
preach and practice thrift SO long they continue
active organization. They believe that thrift is
matter of driving" campaigning but the
planning and effecting of a substantial permanent
growth, the nclining OF the mind Of the wage
to the habit of thrift and safe Investment They
ready always to co-operate with every enlightened
and disnterested to spread the gospel of
thrift, and believe their record is sufficient war
ranty of the value of their cooperation.
May add that we are tremendously interested in
efforts to nstii in the minds Of all people the
necessity of practicng thrift? Cordially,
(Signed) JOHN B. KENNEDY.
Mr. Kennedy in personal conversation with my offic
thursday afternoon Jan. 20, 1921 said;
~Mr Doherty and associates have struck the right
note in urging everybody to practice thrift.
mot only is it duty for every worker to lay aside from
his earnings enough maintain account in savings
bank-to pay life insurance premiums he should
invest in the securities that keep going the industries Of
lence and brotherhood Of man. which they consider inn
portant
seThis will be very fine world for all Of us if we viii
only live by the budget systemdyidng our incomes,
follows.
p. Family Fi support Of church school and service
to community TO State and TO nation.
49, Family bank account.
a. Family insurance
"5. Family investments.
IS. Family pleasure
20. Family benevolences
'These are seven fundamental points that the K Of c.
believe should be practced by every family in America
Henry L. Doherty & Company will be glad TO answer a
tiers asking for advice as to investments and they will ais
glad receive callers at their offices, to whom they wi
,und securities DO not hesitate to write to CALL matte
ow little you may have laid by
Sincerely yours. WILLIAM c. FREEMAN,
liz West 4eth St., New York City.