New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-01
WORKING FOR 4 CHANGE.
ACTION OF MUTUAL RESERVE POLICY
HOLDERS.
TO HOLD A PUBLIC MEL TING-MR. GUEST SAYS
THE EXPENSES ARE ALTOGETHER
TOO HEAVY.

TOO HEAVY.
More than twenty policy-i 'iders OF the Mutual
Reserve Fund Life Associate. held meeting yes
terday at the Offices OF Schnitzer, Meyer Philip
pean, at No. 100 Broadway, to outline plans for
calling a public meeting OF pocy-holders who pro-
test against the companys recent heavily increased
assessments. and to formulate a campaign OF ac-
ton for a reorganization Of the company and the
oustng of the so-called Durham interest
The policy-holders were led yesterday by Isaac
B. Guest. the we,l-known coal dealer H. j. Alt
man. John S. Conabeer, y. X. Bingham and John
A. Clussman whose suits against the company
are now pending. They al men OF frst-class
standing in the community. and they are plainly
ben; on pursuing their fight to the bitter end
special committee consisting Of these hve
men was appointed TO consider ways and means
for carrying the contest and to arrange Tor the
proposed public meeting committee OF arrange
ments was also appointed. The former will meet
tomorrow at the same place and on Monday next
1t will make It's report to the committee OF ar
rangements.
The plans and purposes Of these pocy-hoders
were stated as follows by Mr.. Guest
We believe that the situation Is critical N ,b bat
the company must be completely reorgahaea II
1t to remain soyenC II Is an open the present.
exorbliant salaries be continued, the company can
remain sOyent long hs Sa FOR saarss 1r
So sss 20 for officers and SIS ~ 40 for office employees
u @ this ,snn ssPss 70 o Managers
for officers and ss96i 10 for office employees ,, rse
amounts Tor officers ana office employees were Si''
At that rate Of increase what must me SALTY
nsa ee S Ssys been Ahn yea from 60 to 100
been raised from nm B to as and that Of another
who Is seventy-three years Old and unable to stand
the increase. from $50 TO SGD This goes to make
up the enormous increase IN salaries ..or..
from $4,000 to $4,000 charged for setting me Dl-
monthly death expense account Ana yet neorg =,
the president OF the company, is hired at salary
to attend to the legal business of the company.
or what FredrIck A. BGrnhain was the company .
attorney until the death Of Of e. t. Harper when
And how dld he become president? By the vii;
Of Mr. Harper Why M Ha per has made ,,tn per r,
FAMILY clause w ,9 h nse2ieS in 81 poe3 in iss
by which innocent policy holders were made to give
their voting proxies to T. u Harler and his brother
iy put Gauge IN his viii bequef thing those prox-
Ter to Mr.. Burnham Who ever heard OF such a
Ana yet tho Harper viii sets aside all the profits
from Mr.. Harper's contract on premiums with the
serve, provided Mr.. Burnham should be elect
ed president Of the company for i've years.
proxies in perpetuty We propose to get policy
holders now to revoke these proxies and then to
With a proper reorganization and with salaries put
at reasonable amount We believe the company
WY there arc over 81 10000 death Claims out
standing against the company Mr. Guthrie in his
the amount was 600. And yet only last May
the ye tens Of iieTSture sent out to policy
honest unpaid claim against the company.
Now we are going to hold a public meeting for
They are afraid to act because of Apprehension
tina; they may inture The company But they've
death Gains will swamp the company anyhow We
propose TO save It,