The news-democrat. (Providence, R.I.) 1906-1909, 1906-07-26
MUTUAL TRUSTEES
SILENT ABOUT A
STORMY SESSION

New York, July 26-The trustees
Of the Mutual Life Insurance company
held regular meeting yesterday
afternoon and for the first time in
several months the lid was put on
tight as TO what was done. No informa-
tion was given out. and II was an
nounced at the presidents ONCE that
none would be made public.
There were rumors that it was a
stormy meeting, and that this account
cd for the decision not to reveal the
substance OF what had taken place.
One OF the matters the trustees
had TO consider was a letter of protest
from the international policyholders'
committee against the expenditure OF
the company's money In the prepare
ton Of the stencil list OF poiicyhoIders
for private use OF the company in send l.
ing out campaign literature, and a
notice that IL the money used for that
purpose should not be returned to the
treasury and the expense assumed by
those responsible for incurring II. pro-
ceedinss would be begun against the
trustees who were responsible and that
they would be held personally liable
for IL
Samuel Untermyer, counsel for the
policyholders wrote that the Albany
list was so defective as 10 streets and
numbers that II it was used in mailing
In the great cities would be disfran-
chised In the coming election. Then he
charged that the agents OF the COM
mittee had seen in two large cities
complete lists OF policyholders in these
places. He added
We have been reluctantly compelled
70 give up all hope OF securing any
thing like fair treatment from the off,
GERS OF your company"
Mr.. Untermeyer then declared that
President eabody's denial that Sc
cret stencil list is being made vas
grossly inaccurate" and he said he
disliked 10 use such language in char
acterizing II, but he could not ade-
quately express the situation other
wise.
He asserted that he had full informa-
tion as TO the details OF making the
stencil list, which. he asserted, was be-
ing done at $40 a thousand names, after
the company had already been at great
expense 10 prepare another list for
filing at Albany. and that campaign
literature was being mailed at present
from the stencil list.
Mr. Untermeyer then returned 10 his
former complaints that the money OF
the stockholders Is being paid for ad-
vertisements in various forms extolling
the present management so as TO get
votes for the administration ticket.
The international poltcyholders COM
mittee announced yesterday that Chair
man william Alden Smith OF Grand
Rapids. Mich. had become a member OF
that body.
The French policyholders' committee
was also announced. It's members are:
Charles RouN. ex-member of the cham
Der Of deputies and president OF the
Compagnie Generate rans-Atlantique: (:
Leopold Mabinneau. president OF the
Social museum: Lee Higginson. Henri
Gounouilhon and Pirre Baudin. ex-
minister OF public works. The execu-
tive committee OF the international
committee will hold a meeting next
Tuesday
The trustees OF the New York Life
Insurance company had an adjourned
meeting yesterday and accepted the
resignation OF Oscar s. straus from the
board with appropriate resolutions.
James III. Eckels OF Chicago was elect
ed a trustee as was Julius Flieschmann
of Cincinnati. who served for two years
as mayor OF that city. Seth NJ. Mill
ken was nominated for trustee TO sue
ceed James A. Blair and John Reid
was nominated to succeed Mr.. Straus.
The New York Life will continue to
DO business In France. The trustees
passed a resolution directing the ON
GERS OF the company TO apply TO the
under the new French law This law
requires that all foreign life insurance
companies shall maintain in France
large reserves against the French bust
ness, not only that which is to be
written in future, but that which has
been written in the past