St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1905-12-13
Good Advice to Policy Holders.


The revelations of crooked manage
ment and great extravaganza on the
part of our biginsurance companies have
needlessly alarmed many policy holders
and some of them have been foolish
enough to throw up their policies. To
all.these and Others who are thinking OF
such a step we commend the following
excellent advice from our state insurance
commissioners, Hon. Fred G. Fleetwood
and Hon. John L. Bacon:
Realizing that the recent exposure of
extravaganza and Encouragement must
cause uneasiness among persons insured
in the life companies investigated, we
wish to caution policy holders against
loss to themselves through hasty action
in suffering their contracts to lapse by
non payment OF premiums, or in selling
them to spectators. We believe the
companies under investigation, in spite
of the irregularities shown, to be solvent
beyond question, and able to carry out
their contracts according to their terms.
In our opinion remedies for the abuses
revealed will be applied by the law
making bodies of the several states which
will protect policy holders against
repetition of the reprehensible transac-
tions of the past, and aid in preventing
future attacks upon their interests"
And Harper's Weekly gives similar
advice with warning to all not to
trust their affairs with Thomas W.
Lawson, the Boston broker and
"lrenzed finance" writer:
We are amazed to learn upon good
authority that there have developed two
phases of the insurance situation which
seriously reflect upon the hard sense of
good many presumably intelligent
Americans. ~ Hundreds, even thou
sands, are permitting their policies to
lapse. This is so stupid as to be, from
the standpoint of pure seli-interest, al
most criminal. There is no question and
has been and can be no question of the
solvency OF the companies. Enough has
| developed to prove beyond the shadow
of doubt that the total OF moneys wasted
and not earned that might have been
earned is bagateile in proportion to the
enormous assets. Every dollar of insur
ance outstanding isgood as gold whether
a new policy ever be written or not. tits
the uttermost folly, therefore, for any one
to sacrifice the slightest portion of what
he has paid in. To continue the payment
of premiums and demand restitution and
reform is the ouly sane policy. (2)
Thousands of policy-holders are sending
their proxies to Thomas w. Lawson.
They would better send them to the devil
| himself. II the wit OF man were exercised
to find way to wreck, ii possible, SOL
vent concern, one more effective than
this could not be devised. No right
| thinking person can condone proven
offences, but such a jump as this would
be from the frying-pan, not into the fire,
but into the bottomless pit. That sane
beings to any number likely to prove ade-
quate to his purpose should intrust their
property and the future sustenance OF
their benehciaries to a professionally
INSCRIPTIONS Spectator seems incredible.
And yet the danger is said to be real and
imminent. We hope and believe it is
magnihed by unwarranted boastfulness
on the one hand and BY distorted imagi.
nation on the other. But the interests
involved are so vast and so widespread
that no patriotic citizen should spare
any possible effort to save credulous
thousands from the inevitable conse
quences OF ther own rash action. If il
be possibly true that insurance officials
have become so discredIted as to be i'm
potent in withstanding the force OF q
wave OF insanity, it is high time for the
formation of National Vigilance com
mittee in the interest of the whole people