An order directing the United States Grand Lodge of the Order of Brith Abraham to dissolve or show cause why it should not be liquidated was issued by Supreme Court Justice Crain upon the report of State Insurance Commissioner Beha that the fraternal organization was insolvent and its dissolution advised on the ground that “its condition is hazardous to its members, its creditors and the public”
It was said in the petition filed that no opposition to the order for dissolution will be made.
The papers, which were served on Adolph Solomon, First Deputy, were based on an examination of the company and a report made by the Examiner, C. G. Baker, dated Dec. 1. He reported that the admitted assets were $36,912, including $20,882 in cash and bonds and $16,030 assessments due. The liabilities were $78,272, of which $70,050 was unpaid death claims, $6,685 loans and $449 unpaid salaries.
The income and disbursement account from April 15 to Nov. 23 was $124,752, of which $99,322 was mortuary assessments and $11,000 borrowed money. The total assets were $175,380. From this sum was paid $127,350 in death and liability claims, $10,200.