The Montgomery advertiser., 1906-11-10
SHOULD VOTE AGAINST THEM Jelks Advises Holders of Life Policies. SOME INSURANCE FIGURES Governor Opposed to Administra-
 ton Tickets.
 ~ He Declares Big MusuaI Companies Have Drained Aiabama of Money
 ana Policy Must Be
 stopped.

Acting on information received from an inspection of the records of the State with regard to mutual life insur- terday publicly threw his influence against the present administration of the New York Life Insurance Company and the Mutual Life Insurance Company of New York, In the elections to uIree- torship which those corporations will hold In New York, December IS.
 In a statement given out yesterday, the. Chief Executive advised polfcT- . holders in these two companies to vote at the elections for the anti-adminis- tration tickets, which have been put In the field by the International Policy holders Committee, for election to the Board of Directors.
 This action on the part of the Gov ernor was taken after an examination made of the State records. In which was computed the amounts Of mohey paid out by Alabamfans during eight years to the five life insurance eoni- panies doing the leading business In the State, and also the amount of money returned to the citizens of ths State during the same time. This com putation showed. the statement said. that in that time the five companies collected $l4.0e0,o00 paying back only $5,000000, condition which had re- suited in a drain upon the State of more than s1,0eo,000 a year for those companies alone.
 Statement sby Governor.
 The statement made by the Governor in throwing himself into the contro- versy on life insurance matters follows in full:
 "A careful person has taken the trouble to compute from the records in the office of the Secretary of State, the money paid out by Alabamians in eight years to the i've life companies doing. the leading business in Alabama. and also the money returned to citizens of the State in the same time. He learned that the companies collected 14,000s0oo in that time and paid back them and a drain on the-S State of more than $ise00 q year for the five com panies alone.
 Two Of the companies considered in and the New York Mutual It was by the Illegal or improper holding of their part of this nine and other millions that, the two companies have been able to pile up together $es0.00o,000
 "A fight Is on for this vast sum Many people who have gained fortunes by Keeping 1t together or refusing to pay it out to polIcyholders want a fur ther' lease of life. The administration ticket in both cases are undoubtedly related to the old crowd; where a change has been made iE director 1t was hardly more than in name. ! have no policy with either one of the com panies, but I am sure 1t is the interest of such holders to vote a change.
 Tt has been said that the anti-ad- : ministration crowd will De as bad as the administration ticket. That can hardly be true. Those who kept up with the showing made by the Arm- strong Committee cannot conceive of that being likely or even possible. Hun dreds of millions were denied the pol icvholders In premiums, while these vast sums were used to bull and bear propositions in which the policyhold-