New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-08
ATTACKS NEW-Y0RK LIFE.
Missouri Demands Return OF SI48,-
7O2 and Officials RemoUat.

1s-fsrso, c,tv Mo oct w D. vandiver. State
Superintendent of Insurance, to-day sent com Iu
nieation TO John A Mccall. Of the NeW-fork @ LlIe
Insurance Company demanding that the Aas'11
campaign fund contribution be replaced in the
treasury of the company under penalty or revoca-
ton OF the company's license to transact business
In Missouri for failure 10 comply with the oenls-iu
In the communication Superintendent VanoNer
also informs President Mccall that the hlssou.l
Department of Insurance will insist on ne"
president. vice. president and financial committee
for the New-York Life Insurance Company just as
soon as directors can possibly effect the reorsani-
zation.
The letter in full follows:
To j. A Mccall. president oil the New-fork Lie
The recent starting disclosures in regard to the
insurance COMPANY and particularly the testimony
of yourself and other officers OF tne coinp -
NeW-York Legislature make il my duty as SSp3r Snper
intendent Of Insurance for tne Sae @ views and re-
duirements of this department, TO tne enc L. ,5nS
polcyholders in this State may noe be deIrauGsa r
If snv norton OF the dividends or surplus earn
ings that justly due them on the premiums
p PFoPgTyt 4ast tfnshs insaTapes ss
yourseIl ana otnea ts 1nds of q T5utuaI company
constitute a iducary trust, held and admnils- admni
ITr If whom are or viii be widows and orphans,
and many thousands OF people nave taKel EN- t fact
and the assurance that every dollar OF sesets oe
longs tR IL tbe prenuns or profits pre-
ynIIu1ls could be diverted to political purposes or
other uses contemplated wnen me ~ lo1aS
purpose of a life insurance organization, must ps
Considered by all right thinking people as gsTSs
Ths depsrtment holds therefore, that all moneys
taken by your order from the treasury OF tne New
York Life Insurance Company ana 0onaleu 70 aIly
political campaign committee or 70 any sIat;nr
agent lobbyist for aiding or defeatng "a tb
company, taken without warran! OF law oDr Or
rasnonsihiIities as trustee of the funds committed
TO your keeping And therefore, tnls oepdI m ~
must insist insist tna5 nd asrenIarly a the sum Of a70
which amount you confessed 70 naVlhs ,rises1
out OF the funaS OF Sns for the years 1886
1900 and 1904 must be replaced IN the treaSLy y.
said New-York Life Insurance Company Wltnih Ihe
Notice is hereby served upon the New-York Lie
Insurance Company. through you as lts \,
given that it viii be met without unnecessary de-
lay L as Superintendent of Insurance for lne SUE
of Missouri will proceed under the PROVISIONS %
Section SO22. Revised Statutes Of Missouri to can
eel or revoke the license Of the company 10 DO ousl-
There are rnanv other transactions disclosed by
the Investigation in progress particularly In
payments Of large sums OF money to one JuogSS
Hamilton without any accounting auditing on tne
hooks of the company, and the occupancy OF Costly
real estate Of fsI the c9mPaRy s pan Dy to be- DTaeeay
gift Of the property and also the e1 o 30
sands of dollars by the use of pocyholders money
as well as the Immense and dispropoTtonate ex-
busiass all os which indicate the grossest impro-
orietv and recklessness in management ana may
call for further investigation and oftca! ae9on;
that the interest of the policyhoders OF the NeT-
York Life insurance Company as wen as tne pa
nf fhe company This department, will. therefore;
insist that a. new president. vice-president ane
4napce s soon as its board Of directors may
he able to effect the, change.