The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-03-07

The Company to Its Policy-Holders.
The following correspondence between
the president of the Connecticut Life In
surance Company and the committee of
their policy -holders in indianapolis will be
of interest to many of our readers:
CONNECTICUT MUTUAL LIFE INsUR ANCE Co..
HARTFORD, Feb. 2S, 1883.
Henry ID. Pierce, Esq, Secretary, Indianapolis, Ind.
Dear Strive have to-day your letter inclosing
n printed form OF a letter to our Indiana policy
holders, asking them for money subscriptions for
your committee and fortheir proxies. You also re-
TO enable you to send this printed letter to them,
and saying that if we refuse the list you will adj
yertise your wishes and our refusal. We were
proposed to make of this list. think your COM
mittce Is acting under some misrepresentation Of
our proper position and action in this matter.
When i met the policy holders in Indianapolis
was assured by the members of your commit
tee that all that was desired was ar examina-
ton, to verify our statement, to see whether we
had the assets we claimed to have. They pro-
posed to have the examination made by the:
Auditor Of Indiana III accordance with your law.
such an examination, we should cheerfully afford
every facility for its most thorough performance.
] called upon the Auditor, and telling him what
had taken place, assured him of a cordial well
come and every facility if he saw lit to come.
Now your committee proposes to send a depu-
tat1on to supervise the Auditor in his work, for
what necessity does not appear; and to ask our
policy-holders to make a subscription to you to
pay the expenses of that deputation. Also, one
of your committee dominates another member
of your committee for Office as u director. And
you propose TO get proxies from our members to
use at the annual meeting in electing a board of
directors. And you ask us to give you a list
of our policy-holders in Indiana, in order
that you may solicit these subscriptions and
GERS Of the company are parties to your proposed
operations. This, in our Judgment, is an inn
proper position for us TO take or to allow our
selves to be placed In. We can properly have to
do only with the proposition to examine us under
the law OF your state. In regard TO that matter
our position is not doubtful. More than two
weeks has now elapsed since you were deputed
Dy such policy-holders as you represent 10 ask
the Auditor 10 act, and you have not done so.
When we found that, instead OF an immediate
examination, which was the only thing that
could be of real service to our policy-holders
your committee proposed to first enter upon q
prolonged correspondence with our policy-hOld-
FRS for some purpose which we did not learn I'M
I'll informed by your letter Just received that it
was TO solicit money and proxies, we felt that the
Interests OF the company would be prejudiced by
the delay, since it had been already published
widely that you were going TO demand an exami-
nation; and we therefore asked the Insurance Com
missioner OF Connecticut. whose powers and re-
sponsibflity are unquestionable, to anticipate his
triennial examination under the law, and to
make an immediate and exhaustive examination,
which he has undertaken TO do for the benefit of
our entire body of policy-holders We have thus
done all IN our W to meet at once all the
questions OF real interest or value to our policy
holders This Is the proper limit OF our action.
What your now asks has no such rela-
OuN 10 Ill tAdlillldlun Nv Tic STATE 1utnOrlrleS
or TO the general interests of our policy-holders
that we can take any part IN II. We regret that
.it Is so. IL You choose to ask them. in your own
way, for their money and their proxies, that is "a
personal matter between you and them. We do
NOT think We ought To be concerned in Ii; aud we
do not like to put lists of our policy holders into
any ones hands, however friendly. They are
too liable 10 loss, and would be used to our great
injury IL they should ut any time fall into un-
friendly hands by any misadyenture.
We are to-day in receipt OF a letter from your
State Auditor, Hon. Bruce Carr. IN which, among
other things, he refers TO the expectation that he
would have been called upon to examine Us, and
says thar no such request has yet been made.
We have again assured him of our readiness TO
AFFORD him every facility for such an examiua-
uon, II be shall deem IL his duty to make IL. Re
specially yours, JACOB L. GREENE,
President.
Yesterday the following kilograms passed
between the committee and Colonel Green:
INDIANAPOLIS, March 6, 1850.
Col Jacob L. Green, Hartford, Conn.,:
Had better direct agents to indOrse envelopes
TO policy holders; ii cannot prejudice you, which
publication Will Publication TO be made I'm the
morning. WILLIAM HENDERSON,"
10 the above telegram Colonel Green
promptly wired the following reply:
HARTFORD, Conn, March 8, 1883.
Hon William Henderson. Indianapolis: 4
Telegram received. Your asks our
pOilcy-nolders Tor money and proxies. This Is n
matter so entirely personal to your committee,
and so entirely disconnected, both in form and
substance, with an examination into the condi-
ton OF this company by the State Auditor, under
the law That we cannot assist you in any way