The Washington times., 1905-12-02
"M'CALL MUST Gu
AND OTHERS TOO"
--POLICYHOLDERS
Movement on Foot to
Gust Equitable
Heads.
MAKE SERIOUS CHARGES
Lawyers Advise That Dis
closures of Counsel War
rant Some Arrests.
MAKE SERIOUS CHARGES

SEW YORK. Dec 2.-Dissusted with
the Indifference of the trustees OF the
New York Life Insurance Company and
their failure 10 drive out % the company
President John A. McCan and others. a
number ofinfiuenEal policy holders in the
company have practically decided TO
form a poIfeyholders' committee. take
command OF the situation themselves
ana make a clean sweep Of all The in
competent and corrupt men connected
with ne company.
subcommittee of these policy-hold-
ers had a protracted conference with one
OF tie best-known corporation lawyers
i The financial district. he advised them
ttlat the proposed move was feasible and
Should be undertaken.
He pointed out that such 3 commit
see could speedily bring matters TO
head BY one OF their number going be-
1ore a police magistrate and asking for
warrants for the arrest OF the RESPONSE
bic persons on az one or all OF the fol-
towing charges:
Basis for Charges.
based upon the fact that the books OF
the New York Life were faIsified in that
they do not contain any records what
ever OF the payments 10 Andrew Hamii-
ton OF s59. 009 J. P. Moran & Co: of
Sl6.0oo by the New York Security and
Trust Company. and of $4,000 10 Gco-Ee
W Perkins out Of the profits . j ii55.s,
70 Kidder. Peabody & Co.
Seeond-ConveTsio OF trust funds.
which. under the penal co5e. is larceny.
This charge the lawyer safd eatsld b.
based nI1en 2 large number or lraasAc-.
tions disclosed BY the testimony given
before fHa a FF4fF
Thifss7-fhe giving Of rebates. which IL
& tnlsesflieanor under the penal code.
This charge he said, could be based
upoa the admission OF Gage r Tarbell.
vice president 81 the Equitable, tf1aE he
Nlaes an arEafl senlss1t VIA 3 xEce preS5-
dent ce the New York Life for = com
mission or rebate on his insurance taken
out IN the latter company.
II was pointed cut by the Ia aXyer that
Z e policy holder took the step OF going
before 4 police magistrate it would com
pei District Attorney Jerome TO take
0ff3eial cOgDfZ3nce OF the many evils IN
the management Of life insurance com
investigation and probably le@z-to .
large number or prosecutions IN the
criminal courts
Trustees Complained OF.
The trustees of the New York Life
whose attitude is 50 unsatisfactory TO
many polieyholders in the company are:
James a Blair Thomas A. Buckner
John Claim. Charles =. E'airch5ld.
Thomas p. Fowler. VIM. 3. Hornblower
W. =. IngersoI. John S. Kennedy.
y. 2 Kingsley Woodbury. Langdon
Robert I-aE.g Clarence II. sfsckay
John A Mccall. George A Morrison,
Henry G. Mortimer, Ale1ande~ r.. Orr,
Augustus @. Paine. George W Perkins.
VIM b piunkett = D. Randolph
Norman. =. Rsam Hiram r Steele
James Stillman. Oscar s StrauS.
Henry Walters
= report printed that John A. Mccall
would resign from the New York Life
on January ] was enDhatically denied
John Z. Mccall. secretary Of the com
pany and son OF its president said:
There IS not a wore or truth IL that
statement"
John CIafln. one OF the trustees Of
the company, when asked il the trustees
ware about 10 demand the resignat ton
Of President Mccall. declared there was
no such movement ori root. Il is the
general opinion that both Mccall and
Perkins VIII not retire until they are
driven cut.
Mutual Life Changes.
The clique Of trustees IN the Mutual
Life who have been opposing the efforts
Of the TruesdaIe housecleaning com
mittee to bring about internal reforms
made partial retreat yesterday from
the peculiar position they have assumed.
More than a week ago the Trllesda,,
committee recommended changes IN me
Continued on Second T9agaA