Lawrence democrat. (Lawrenceburg, Tenn.) 1884-1925, 1905-12-08

poHie weeks ago SuSgestcu thIouSh
the press that Tennessee poicyholders
of mutual life Insurance companies ex-
ercise their right to participate in the
management of the companies in which
they are insured by attendance at the
annual meetings of policyholders in per-
son, or by adopting some means OF
selecting one or more poicyholders from
this State to attend such annual meet
ings on behalf of themselves and other
Tennessee policyholders.
| have received from many policy
holders expressions of approval OF my
suggestion, and they have requested me
to call meeting for the purpose of ef-
fecting an organization so that all Ten
nessee policyhoiders who desire may be
represented at the policyholders annual
meeting of the various companies.
In compliance with their request l
! have selected Wednesday, December
20, at the date of this meeting; and
hereby call it IL a. m. of that date at
the State Capitol. lsuggest that every
citizen of Tennessee holding policy in
amutual life insurance company atten d
the conference if possible. rather sug-
gest that these policyholders in mutual
companies who are unable to attend,
communicate with me and that each
give his name and address and the name
OF his company or companies. | will
turn over each of these letters to the
committee that may be selected for the
company in which the writing policy
holder is insured.
In order to emphathise the Importance
of this movement, it is only necessary to
say that the amount of life insurance
carried by people in this State in the
legal reserve life insurance companies
doing business in the State amounts to
$I22,000,000. The amount carried in
the various mutual companies is ap-
proximately $4,000, 900. The equities
to which the holders OF these policies are
entitled amount of several millions of
dollars In this connection desire to
call attention to the fact that every
policyholder insured in mutual COM
pany is entitled to participate in its
management, and it is prudent for his
own protection that his vote should be
cast Mt the policyhold ers annual meeting
either by person or by some one in
whom he has utmost confidence. be-
lieve that the best interests ofTennessee
policyholders would be subserved most
effectively by n citizen or citizen of this
State whom the policyholders themself
had selected.
In urging the Importance of atten-
dance at this conference want to say
that, as your insurance commissioner, |
am doing and shall continue to do,
everything in my power under the law
in the interest and for the protection of
Tennessee policyholders, but the obliga-
ton resting upon the policyholders
themselves in the mutual companies to
exercise voice in the management Of
their companies through the regular an.
nual meetings can only be discharged by
them.
At the conference policyholders of all
companies will first meet together and
take such action rs they may deem ad-
yisable but / suggest that after the gen
eral calculation the policyholders OF
each company perfect separate organi-
cation and elect their own representa-
tives.
respectfully request that the press
of the state make publication of this call
for the benefit OF the policyholders in
each county.
The mutual life insurance companies
now authorized to do business in Ten
nessee together with the number of pol
icyholders and amount of insurance in
force in this State December 81, 1904,
are rs follows:
Franklin Life Insurance Company
SAC Policies $Sl0,0S3 Insurance.
Fidelity Mutual Life, 1918 policies
$2,24i, 742 insurance.
Mass. Mutual Life, 1873 policies So,
46l, S46 insurance.
Mutual Benefit, 1929 policies $40, 972