New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-28
names 70 the District Attorney for indictment by the
Grand Jury as conspiratOrs ana crihii!iais'
IIBFLLERS.


% Won the fact that We had successfully prosecuted
publisher for criminal libel upon the Association ana
its management. one Instance during the isst t"eNe
months has occurred whcre we were able 10 secure
,ont 81 nm old unn company who deliberately printed
and circulated in the state Of Michigan the most
Association ard the integrity Of IT, officers with regard
10 the payment Of It's Death claims. IIie party was
law had been placed upon him he desired the privilege
Of making iu retracton and pIop1sea 10 pay an
ncaNOn OF hi, fun rtractIon ~ the various PavJsi
An appeal for mercy cam" win ne s,p.odJ I lie s s
be prosecuted IT might cause hi, death undef tnese
crc'instn your management decided to accept the
P G oay G le nrrcs. bu th o" prosecution Of future
llbcllcrs OF this Association and its management
INSURANCE COMMISSIONERS.
It Is pleasure to be able to report to you that
this Association has received fair and honorable treat
ment from all the various Insurance Commissioners oi
the several states IN Unon many OF whom, as has
6sen P S o P ssa, t o 2g l A. Es W.
are under special obligations TO each ana al OF saia
Insurance Commissioners for this fair ana honorable
treatment Never. probably. I'm the history 81 NE III
surnnce have the Offices of Insurance CommiSo2hItS
I'm the various states been occupied rs wlole by
gentlemen OF greater ability or who have administered
the affairs of their several departments Win greatr
degree Of integrity and imEItialy tlan inc present
IT became my duty to report to yon at two preyon:;
The state Of Kansas. D. ". Wilder. was using his Office
rs a commissioner with the view OF advancing INC
interest Of single class oi INSURANCE % hiino
the injury Of those organizations rasactng DlAnesS
under different syem u Is 1easS oh lCr M, the 10 rg
sulancc Commissioner Of the state OF kansas, Ply Una,
gentleman OF undoubted Integrity ana MJhIS c ie,'
succeeded him I'm this important ana AolOlGDle oHCc'
THE NEW HOME BUILDING.
The business of our Association has grown 50
rautdIv that within the past eleven years we have
been obliged TO change Home Office no less tlah
four different times in order to secure sufficient &C
commod atoms for our officers and employees ana ioF
IN" uroper transaction OF the business OF the As5-
ciotiin =, well "A, to obtain sufficient room FOR inc
security of Il, important records. IL may DC saieIy
stated that I'm addition to the increased space required
In accommodate tho additional help absolutely needed
that upon every working day IN ule year sOlv IN
portont record book /, completed which contain.
records Of vital importance the future welfare 81
the Association ana for which additional room Is he-
In Iaa3 we secured nearly two floors OF the we'll
known BRYANT Building which VIC thought would ne
ample space to Accommodate our business lor al
future time. Having taken hveyear' lease upon
the same. proceeded with our MGrh. ana ~,Inn
two thereafter the space al our disposal had been
all occupied. and the demand for more Fjom was 81
urgent that besides paying the rent for ad ltl0nai
pants In said building 10 their rooms in order
to furnish association with the necessary accom-
unable ~ obtain sufficient additional accommodations
in the Bryant Building even by the PAYMENT Of large
move. your directors decided 10 lease two ho)rH IN the
Potter Building. our present location Whlch contains
upon three streets ~ the city. Again We Supposed
lime. but I'm the Last twelve monti' b. Reason OF TIE
steady increase Of our business. We have rallied the
ure'y Inadequate for t.; purposes Of ic a,soca lDh
Inde'd. within the last ninety DAYS We have been
Ing. I'm order t. furnish proper accomm ldauons for
agency department. while We have not desh-FOom
for additional cmpoyc and others must be- employed
mt very carly day while the present cmpoyc, have
scarcely clh0Wroom IN which t. transact the business
tnee yG9r o E aG 81 b o enc t
flnsf. tr4f holm
- feet front broadway by 122 feet Duane.st
with an ell IN addition for the crcction II modern
Mutual Rcscrve Fund Life Association Building TIE
ground IS valncd ut han million dollars, and the
supcrstrlctGr will cost about the SINE amount.
viii he completed on or before May J. 1893. Tho
ground valued at half million dollars and the cost
Of the building 10 the amount Of about half million
Weld estate at an annual interest rental for the entire
building. after doductng the income from the first
Of the present rent which pay for the two
floors OF the Potter building II IS proposed TO set
apart the second thr and fourth floors in this large
building for the and purposes II the Mutual Reserve
Fund Life Association the hfth sixth seventh, eighth
ninth and tenth oors will be rented by the Association
I'm addition % the first floor and basement. but upon
leases. that as the business Of the Association in
crcascs additio rooms may be obtained for It's ae
commotation. The term Of the lease Of this buildng
which IS 10 commence when completed. Is to be for
twenty years with one renewal, making forty years
I'm all. - -, 5000, - - CO.
ulAcent buildings in the city Of New York and else
where and who Is now the architect " tho New Neither
st. and Fifthave., for the AstOr estate. has been APP
pointed upon the JOINT approval OF the Weld estate
and he viii soon have the plans ready submit 10
your directors and tho trustees Of the Weld estate
STOCK VS.. MUTUAL COMPANIES.
There has always been less OF controversy
existing between what has been known on one side, rs
a stock or semi mutual Life Insurance Company. and.
on the other side. a Purely Mutual Company. In the
case OF stock or s,ml mutual companies. a company
with 100000 capital stock. half of IL viii be held,
as a rule. 10y single individual. Yet by Offering
insurance on what supposed by the public 10 be tic
mutual pan they have been enabled 70 accumulate.
t. SINGH, INSTANCES, more than s10OOOO.OUD. Not
witi,nrtn. TIN, fact. the holder Of tie 10000 Ot
stock with a single vote controls the election OF tho
directors aud Through them the election OF the various
officer, OF tlr company.
There hl, never been an attempt on the part OF
vent the control of these semi mutual concerns from
0b" hold a majority of he original capital stock,
although knowing full well that the policy holders,
one ana all have been absolutely DISTINGUISHED ana
are uovcllc,, 10 have Il voice ia the management II
the Companic, controlling the Hundreds ot MllIons VI
ii pnr.ly Mutual Companies believe that strict
attention u their own individual business best ,UJ-
serve, the interest Of their respective policy h1d'ts
without attempting 10 attend to Inc b",lne', oil i,r
the rule adopted by the stock companies. They have
been on the alert to secure 'hr passise oi NeA
III" m XIV ,rgnsf"rrcG from Inc friends Of thosr
organizations To those whose Interests were damctr-
cally opposed b. their future prosperity. These facts
.tri,lni Me reasons why Mlls have been introduced
mo the legislature OF State by which no proxy
could be held hy any officer, director, employe agent
r n'.licnI ay,nlncr and even only To A limited ex.
tent by policy holder of mutual life insurance com
pany At the same time the officers directors agents
and medical examiners u these stock semi mutual
lie insurance companies could secure and hold the
proxies Of these mutual life insurance companies
thereby placing the power for the continuation of these
mutual organizations I'm the hands Of their enemies
divStng the friends of these organizations from
the right protect the Interests OF those who nave
placed confidence In them. .
Il is Il well known fact that the policy holders d
the average life Insurance companies To very Large
extent are unable 10 attend the Annual Meetings IS
reason Of the excessive expense which would De III
cured I'm doing. II would cost The average policy
holder from 500 to $500 they being scattered all
the MnrldL 10 nnrsnnAlN Aiiemh an anMunl mccI