The Topeka state journal., 1903-05-28
CITIZENS TO MEET
Will Discuss Reorganization
of Kansas Mutual, Friday.
John E. Noon Makes an Aff1da.
Wit of Denial.

Acting on behalf OF the city. the Com
mercial club has taken up the question
of reorganization of the Kansas Mutual
Life Insurance company as a Kansas
corporation. and it was decided by the
directors of the club at a meeting held
at 3 o'clock Wednesday afternoon that
a special meeting of the club shall be
held Friday evening, probably at Secur-
ity hall for the purpose of discussing
the best way of effecting a reorganiza-
ton of the company.
To this meeting all the policy holders
Of the company are invited. Opportuni-
ty will be given for a full discussion of
the question and if possible, a definite
plan will be agreed upon for the To-
peka Commercial club to present to the
policy holders of the company at the
reorganization meeting to be held Mon
day. June /.
There are three ways out of the pres
ent difficulty for the policy holders. One
is to dissolve, another is to reinsure and
third is to reorganize. A great ma
jority of the policy holders would prefer
the last method provided it could be ac-
complished with safety. 1t is believed
possible that the Commercial club will
find way to preserve the Kansas Mu-
tu1l DIS d uODlG lllcAllQllOl1ss II IS d COM
pany of great value not only to Topeka,
but to the state.
Those who were present at the meet
ing OF the directors Wednesday after
noon were John E. Frost, W. H Davis,
J. S. Warner, ]. J. O'Rourk E. B. H
Remley, f. H. Crosby, c. B. Blakely
and NJ. c. Holman.
On motion of Mr.. Holman, it was de-
cided to call the meeting of the club
for Friday evening. No other definite
action was taken, but considerable in
formal discussion of possible methods
of procedure took place.
The plan of reorganization of the
Kansas Mutual does not necessarily In
volve the restoration to control of the
old officers. 1t is likely that new di-
rectors and new officers will be chosen.
This is a detail which would have to be
settled by the policy holders.
John E. Moon, former secretary Of the
Kansas Mutual today gave out an affi-
davit contradicting the statement made
by Cyrus Leland and George Cole,
trustees, concerning the surplus of the
Kansas Mutual. The affidavit is as
follows:
John E. Moon, of lawful age, being
first duly sworn. on his oath says:
He has read the statement of cyrus
Leland, Jr., and Geo. E. Cole, trustees
of the Kansas Mutual Life Insurance
company, published in the State Jour-
nal of May %, 1903. Affiant says that
terview referred to in said publication,
or at any other time, that he had
known for some time that the company
had practically no surplus. He further
states that he did not say to Mr.. Cole
that perhaps it would have been better
If he had stated to the court that the
company had no surplus. He further
denies that he stated to Mr.. Cole that
he was in favor of stating to the court
that the other officers and advisers OF
that he other officers and advisers. of
the company had opposed ms making
such q statement
Afiant further states that It is not
true that over 5000, 900 belonging to GER
tain. policy holders has been misappro-
priated by the officers of the Kansas
Mutual Life Insurance company, ana
he denies that any other sum has been
misa ppropriated-
Afiant further states that there IS a
portion of the surplus of the company
to the credit of certain policy holderss
as shown by carefully kept memoran-
dunn accounts, but there is no provision
in the contracts of such policy holders
for the distribution of their funds until
the end of the accumulation period as
provided by their policies The surplus
does not become q liability until dis
tribution has been ordered by the board
or where the accumulation period has
arrived for such distribution
The surplus of the company stated by
the officers thereof in their annual
statement December g. 1902, based
upon the actuaries table of mortality
and 4 per cent interest, is absolutely cor
rect. All of which is true, to the best
of my knowledge and belief.
(Seal) JNO. z. MOON.
Subscribed and sworn to before me,
this 27th day of May, A. D. 1903
GEO. B. MANNING,
Notary Public.
Commission expires September 1S. 1909