The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-19
LAWSON PREPARES
INSURANCE COUP.
Plans to Seize Control Of Two
Leading Companies for the
Policyholders.
HE APPEALS TO THOSE
INSURED TO COOPERATE
Time for Action, He Says, Is Now
Fears Officials May
Decamp.

LlI6 anu LIE MuLudI Lille 1uSuIdHCc
companies of New York for the policy
holders.
He has given the details of his plan
to the public thru the November num-
Der Of Everybody's Magazine. He de-
clares his purpose openly after warning
John A. Mccall, president of the New
York Life, in a scathing letter of his
intention to act and to act now.
Fears Insurance Men May Run.
He tells Mr.. Mccall that he has
holders, chiefly Of the three leading in
surance companies Of the United States,
and then says:
1T had intended to await the finish
of the New York investigation before
proceeding, but as I have had placed in
my hands during the past few days evil
dence of the determination of yourself
and your accomplices and fellow-con-
spirators to face it out, regardless of
pable Of committing the acts that have
been testified to during the past few
DAYS fully capable of taking the trans
portable part of the billion and a quar-
ter funds to foreign countries, and of
using them to keep themselves from
their Justly deserved punishments, I
have decided to act now.' .-
Policyholders Urged to Act.
Following this letter to Mr.. Mccall,
/ Mr.. Lawson has letter to life insur.
ance policyholders in which he outlines
his plan Of action. He urges the policy
holders to authorize someone in whom
they have confidence to select a com
mittee to take their proxies and at once
seize possession of the two great mu,
tual comps nies-the. New York Life and
/ the Mutual. He omits the Equitable he:
cause the Equitable is not mutual
sary before that company can come into
/ the policyholders hands.
IT. Has Spent $1,ooo,ooo.
! He believes that he himself is the
person who should select a policyhold.
ers' committee. His reasons for urg.
ing this are as follows: ,.,t-st
60 First have already spent in my
work over a million dollars Of my own
| money. ~. r,-..-.7 r. .,..-
ssSecond-I am willing to spend, if
necessary, two millions more, w..
/ "Third-I will absolutely prove ]
want nothing in return. -
"Fourth-I will absolutely prove or
the face of my plans that cannot in
any way benefit beyond the satisfaction
shall. derive from putting another
| Spike UQo system 8 sCOI1u. q
With this appeal is printed blank
on policyholders, especially Of the two
companies named, to sign and return
| to him at the earliest possible date.
Takes Credit for Inquiry.
In asking policyholders to take thi
step, Mr.. Lawson says the present in
vestigation in New York is the resul
of his effort, and then adds:
= "This Investigation has proceeded fa7
Lutte proof Of all the crimes / have
! charged, and three to thirty times a.
eft is now evident to all that:
F'First-The policy-holders in thu
great companies have yearly paid int
their company scores Of millions more
| than necessary.
. Second-The policy holders have
been robbed scores Of millions.
{. "Third-The vast funds now on hant
. have been habitually used by the graft
I ers now in control Of them in the rank
est kind of Safeguarding.
"Fourth-These funds have beel
used to corrupt the ballotbox and the
lawmakers Of the country.
Il II repeat, absolute proof of all thi
has been made public.
i Funds In Jeopardy.
!: cit should now be evident to al
that:
NeFirst-The funds now on hand ar
!: in actual jeopardy, because they are il
the absolute control of unprinciple'
scoundrels.
nSecond-Unless something is done
and done at once, by the policyholders
each and every one of the largest com
panies may become insolvent; that is
they may not be able to meet the en-
gagements Of their policies, because o
! waste of funds. tremendous falling of
Of new business, and the ma
ture Of the new BUSINESS calle
graveyard business; for I am credibl,
!: informed that they are now seeking t.
insure those who formerly have been re
fused insurance because of physical in
frmities.
What May Be Accomplished. .
cit should also be plainly eviden
move quickly, they can be absolutel.
assured that:
sFirst-The funds as they are toda.
will be remained intact.
!: sSecond-They will be added to b,
the restitution Of from $75,00O,0O0 t
!. $50, 100000.
nsThird-A score Of the thieves VIII
! have plundered policyholders in tn
!. past will be sent to prison.
!: "Fourth-The future payments 0
!: policyholders will be largely cut dowI
HFifth-The present swollen SUI
!: pluses will be returned in large part t
I. policyholders.
tSixth-In the future policyholder
will actually run the company.
1 4 ~ II A = 4
) assured that in the future they wi
!. receive the actual worth Of their polio
!. at surrender.