The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-17
COERCION CHARGES
DENIED BY PEABODY
Kentucky Insurance Commission
er Puts Mutual Life's Pres
ident on the Grill.

Frankfort, KY, Oct. 17.-Charles A. |
Peabody, president of the Mutual Life !
insurance company of New York, has |
appeared here before Insurance Com
missioner H. R. Prewitt to answer
charges which were read to him by the
commissioner as follows:
The department is Informed that
your company has not only violated the
law in reference to the approaching
election of trustees, but , that your
company is attempting to coerce, in
t1mldate and otherwise influence agents
Of the company into soliciting votes
for the ticket known as the admins
tratlon ticket; that you are not only
permitting, but compelling salaried en-
ployees Of the company to electioneer
and: solicit votes for that ticket that
you are employing agents, paying them
salaries and expenses from the com
pany 8 funds, to solicit votes for that
ticket; that you are having agents and.
other employees Of the company 90
from different sections Of the country
to the home office in New York for con-
ferences concerning the election of the
administration ticket, and defraying
the expenses Of such agents out of the
company's funds; that you are threat
enlng employees of the company with
discharge unless they loyalty support
the administration ticket; that YOU
have discharged already several Of the;
managing agents of. the company from
company's service because they or, some
kinsmen of theirs have accepted q
nomination on ticket other than the
administration ticket, or because thew
would not support and solicit votes for
that ticket; and that you have lately
dismissed Colonel Biscoe Hindman,
late managing agent of the company
in Kentucky. because he accepted a
nomination for trustee on ticket
| other: than the administration ticket.
| and because he refused or failed to
| Loyalty support the candidates on the
administration ticket.'
Peabody Denies All.
| To these charges Mr.. Peabody en-
tered a denial, saying that Colonel
Hindman had openly and avowedly at
tackled the integrity of the manage
ment and that it was for this reason
tnat Colonel Hindman was dismissed.
Mr: Pea body then read a prepared
statement in part as follows, stating
the position Of the company:
| The bylaws Of the company rro.
vide, that with the exception Of the
president and vice president, no Of
hcers OF the company shall be mem
bers Of the board of trustees. ,.s.
:. 'To comply with this bylaw in the
lew instances where managers or
agents OF the company have announced
the intention OF accepting nominations
for offices as trustees, this committee
has felt impelled to terminate the con.
tracts under which such managers and
agents have been in the company g
service. -
| No action has been taken by the
committee which can properly be char
I acter1zed as coercing any employee
into voting or soliciting votes other
wise than as his own free will die
| tates. ev. T., .....e.,l..~-s,
| No money of the corporation can
pc properly used in electioneering, and
this committee has not and will not
authorize any such use.'
i Hindman on Stand,
At the close Of the statement and
after some further questioning of Mr.,
Peabody as to details, Commissioner
Prewitt stated that decision in the
matter may not be announced for sew.
eral days. =. J. r. :.
Colonel Biscoe Hindman of Louisville
the deposed general agent, was the
principal witness. He told Of several
conferences and had read number of
letters exchanged before his discharge.
! Mr.. Hlndman said he was asked ia
support the administration ticket and
to write letter affirming such action.
This he declined to do. He was then
called to New York and told he must
either affirm or retire from the com
pany.
MI. Hindman said he considered the
! Mutual Life Insurance company safe
but he could not approve the McCurdy
trustees. Herbert N Fell of New
York, recently manager of the company
IN New York city, gave testimony along
/. similar lines S. ,sas :