New-York tribune., 1905-11-12
J. B. DILL CHIEF PROBER.
MUTUAL LIES ACTION
Committee of Trustees at Work-
Resolutions Adopted.

The COMMITTEES appointed by the board of
trustees of the Mutual Life Insurance Company
to examine into the organization and manage
n.ent of the affairs of that company has been
in almost daily session for two weeks care
fully laying out the ground work of the pro-
posed action and examining the various ques-
tions submitted it. and has under consid-
Grafton several matters of interest both to the
policyhoders and the company.
No details could be obtained as to what the
committee has been doing except that resolu-
tions have been passed calling for the fullest
examination of the company and appointing
James B. Dill as counsel of the committee.
Haskins & Sells have been selected as the
accountants to assist the committe in the ex-
animation. The committee has been exam
ming the bylaws of the company. with view
to suggest amendments.
The resolutions adopted were:
Whereas This committee has been appointed by
the board of of the Mutual Life Insurance
GemPaay 19 9 ahe sars of the Company and to
report;
And whereas. 1t is the desire and purpose of this
committee to have thorough examination into all
of the affairs of the company and full and accu-
Be it resolved That this committee forthwith Sc
wSo ad anbjec5 eo' ali times to the direction
troll of this committee shall have power: c srsors
accountants assistants or technical experts as may
second-To make complete audit of the com ON
pany's accounts for the years ending De-
tail of the assets and liza bifites of the company
OF December 81 1901 and also OF the latest
of real estate and other property owned 3y tne ne
loans incllding in ~ the case of real estate each
parcel. the value at which it is carried on the
valuation of the property, whether above or below
the value which it is carried on the books OF the
company; (c) examination and statement or the
other investments of the company their character
a
statement of the income and expenses OF the COM
pany for the year ended December 81 lgo4 and OF
long a period practicable after January /,
1905. including statement of the ratio OF expenses
to income. and the cost of handling the od ousi,
ness, well as of securing new business; lee an an
as we as the manner Of accompanying; the com, com.
panys surplus the amount thereof which has d been @
manner in which it is carried on the books or the
ThirdETo make a thorough examination into and
report (sl the relations existing. or which
nansnes bspks safe depost companies and
other Institutions with which the company is or
has been affiliated by stock ownership or other
wise: (b) any all of the books, records and ac-
a Of any ara m all or or to
plete understanding of existing relations so far as
obtain the right of access thereto: tc} the relations
| personal otherwise. of trustees officers, en-
Companies banks and other institutions with which
ton Isd Is n b the e9 eopany with the result
| ing profit loss to each: (e) syndicate par
ticfpations or other profits If any. enjoyed by the
/ trustees officers employees agents of the com
/ pany through, or as d result Of their connection
/ with the company; 20 the methods of keeping the
! records and accounts the company (g) any all
| other matters that may. by the accountants in
charge, or by this committee be deemed necessary
! or proper to he reported upon.
Fourth-An examination into and report on tbs
organzation and methods of admit isl alton OF the
| cenlasny.
Fifth = frepeff setting firth the manner il
which the $pre organization and adm 'nstrat toI
and the present system of accounting may be i'm
| proved.
For the purpose cf facilitating the said audit an
examina ton the public accountants seected are
| authorized and empowered to have access to any
and all books records, papers, documents ant
| M belonging the company or IN lts
possession or under its control. pertaining in any
manner to its business, TO the business carried
| on or conducted for and account of the com
| pany by any of its officers or agents; and from
time time, under the direction and superv or
| Of this committed call before them and all
! officers agents enp'oyes of the company for the
purpose of ;nterroga ting them with respect TO any
| of it's affairs or transactions. with which they
! have been connected OF which they may have
| knowledge and do any and all other things
| necessary and proper to the making of a fun and
| complete examination ard report