The Butler weekly times. (Butler, Mo.) 1881-1918, 1905-09-07
F|HDNHHSURAN5EFRAU
Investigators Unearth Evidence that
Policies Were Issued To Per-
sons About To Die.
LkRGe SUMS OF MONEY INVOLVED
Physicians Have Volunteered Testimony 10
Armstrong Committee that Practice
Has Been In Vogue For Nears-Proml-
nent Men subpoenSed by the New York
Legtslators.

New York, Sept. 4.-Writlng insur-
ance policies for large amounts on per-
sons about to uie is the new lead which
the Armstrong committee intends to
follow in its investigation. The conf
mittee has in its possession evidence
that extensive fraud was worked IN
these graveyard insurance" policies
that the writing oi policies for large
amounts on persons about TO die he's
been in many companies n common
form OF insurance bribery.
Physicians have volunteered tes,i-
mopy which will so to prove that this
fraudulent practice has been In vogue
for many years and the committee has
already struck upon plan which II be-
lieves will bring the frauds to light.
This plan will involve comparison Of
old policies and the compaiy's medical
records.
The medical records of policy-holders
insured as in good health will also be
compared with their history, to sec
II they died soon after the policy was
taken out Of any slow or chroni,
disease.
Despite the return of the loan nd
vanced by the Equitable Life Assur'
ancs society to the Dcpew Improve
ment company, Senator Chauncey NJ
Depew will be required 10 testifNNn
the hearing before the Armstrong In
vestlgating committee and to reveal
under oatl, the transactions leading NJ
to the advance to the company which
bears his name of $250,0o0 upon ar
amount of security that has since beer
admitted to nave been insufficient.
According to member OF the com
mittee one of the matters that Will hi
brought up Is the report that IN
Equitable and other insurance com
panies have been called on frequent!
to contribute largely to the campais'
funds.
Subpoena servers have succeeded II
| serving the principal officers OF IN
Equitable. Mutual. New York Life
Metropolitan and Mutual Reserve com
| panies. The committee believes thes
companies will give counsel for TIL
committee enough to work on for sew
eral weols. Other companies will b
investigated later.
It has been decided to take up sin
| gle subject and carry the investigator
| of that subject through each rompan,
before taking up another 1t is believe
that this method will prove the mos
orderly and will show results quicke
than If all the subjects were con
through with each company in turn.
One of the most important OF these
the matter of loans. 1t Is desired 7
clear IN the reports of bad fnancierir
in this respect, reports which appea
10 have considerable foundation in tn
light of former investigations.
Paul Morton. president of the Fqn
table. has sent to Mrs Henry 3. Hyd
and Mrs. James w. Alexander forms
notification that they would receive n
pensions from the company. Both lc
ters contained the form of resolutio
adopted by the board Of directors at II
last meeting confirming the order Is
sued nv MIR. Morton the day he wa
elected chairman of me board, whic
was hat the cashier. Michael Murra.
shorld withhold from Mrs. Hyde IN
95OnN annuity which she has enjoye
for six wears.