The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-12-02
ATTACKS LIFE INSURANCE MEN
SINUELCNTERHYER SPEAKS FOR
the POZTCYHOLDERS.
He Declares That the New York and Nut usl
Lfe Are Conducting the Election In
violation OF Law Refers TO Them as
''Organi red Forces Of Financial Piracy"

BUFFALO. Dec. i.--Samuel UnteTmyer
and James McKeen Of New York tonight
debated the question whether the interna-
tional policyhol1ers or the administration
tickets in the Mutual Life Insurance Com
pany and the New York Life Insurance
Company should be elected. Mr.. Unter-
myer smoke for the policy holders and Mr..
McKeea f,- the administration The debate
took place before a joint meeting Of the
Saturn. Buffalo and University clubs. Mr..
Untermyer charged that the managers of
both the insurance companies were con-
Quoting the campaign for reelection in open
violation Of the letter and spirit OF the Arm-
strong law and referred TO them as organ
ICED forces of fnancial piracy
The paramount issCe, MIR. Unterrnyer
said, was whether the people are 10 be ca
joled and deceived into c~ondoning the many
years Of wrong that have been perpetrated
against the fair name of our country
thror xhout the civilized world by h body Of
men who nave used their great names and
wealth 10 betray the trusts that were i'm
posed in them.
This struggle for control, he continued, was
an unevei; one. On the one hand the COM
panies, with their almost unlimited faCili-
ties, have spread broadcast, at the expense
Of the policvholders a pass of mi~sleadingcir-
culars, while t costs the opposition $4,000
TO place a single circular in the hands of
every policyholder. The companies also
have II 900 paid agentt TO spread the garbleI
statements and inspire falsehoods that are
fed to them from headquarters by organized
forces OF financial piracy.
THE surface Of this bottomless pit of
corruption underlying the management
of these companies has not yet been
scratched declared Mr.. Untermyer, and
it never will be if they succeed in retaining
control. They are men Of vast wealth
and resources, Among them are men VINO
direct the secret Subterranean channels
of finance, who can reach and Influence
the sn aller men in the financial and corr
mercial world. whose pow or extends into.
the most remote corners OF the country.
Ii would take days to rehearse the many
unlaw full ways in which inc great poSrr
crush this movement and discredir every
one concerned in it,
He ridiculed the attempts made by the
present mani cement 10 discrecit the lnce-
pendent movement by saying 1t MAS con-
trolled by Tom Lawson, Tom Ryan OF
Rogers, and then asked: Does any sane
man believe chat such ren as X chard
Olney, J Judge Parker. Charles Emory smith.
Mayor Adam and the Governors OF SIX
States, who went on this ticket TO protect
the policyholders. have lent Themselves 10
a aeif-seeking and Cishonest rLoven ent!
Mr.. Untermyer then o timed the great
iss"ss at stake in part as follows:
Fl 1t, to vindi6Cte in the owes Of the Clrl-
lied world the financial honor OF our co n
trv; secondly, to wrest from the control OF
Wall Street Spectators the immense re-
sources of the Insurance companies, amount
ing 10 abort q, O0O.OO0 O0O thirdly, the m
vestigatio ION OF trust comIa nies allied with the
insurance companies. which the Armst ong
committee decided did not coms within the
scope OF their powe-s. Until thess COM
panic are investi1at 81, NJ. Inte-m'er
much about the real dishonest that has
charao terized the managem ent of those
companies.
-lfow is il pos siOle 70 get such z thing as
rertit ton from the w~onr"1c's. he asked,
when they and their nominees are in
power?'.