New-York tribune., 1906-05-15
MORE MUTUAL SUITS.
Continued from irst page.

titles. II is said. however. that they VIII con,
tinus 20 do the same work. Mr.. Fonda mas hao
charge Of the office buildings Of the company
Their management came I'm for severe eileiSi'li, =
b,- the Triesdale committee. The new second
1,tca-,residents have all been with the company
for some time. Dr. White has charge OF the
n,esIcal department Mr. Dexter Of the agencies
in this country. and James Tirnpzon mas peeh
assistant treasurer The office Of fnapcial man.
aear. which he also occupies. is new one Ihat
oflcer shall assist the finance committee. MI
Warren, the new treasurer. was formerly VICE
president OF the New Jersey Central. He came
10 the Mutual as an assistant TO President Fea-
body Mr.. Richards. manager OF the real estate
department under the new regime. has been con-
troller for several years. Walter S. Sullivan
for four years advertising manager, who as
sumed the duties of head OF the supply depart
ment when Mr.. Fields left the company was ap-
pointed TO that position as purchasing agent
uAvIEs's RETIREMENT A SURPRISE
Probably the greatest surprise was the retire
ment Of Julien T. Davies, who succeedeo tAr'
Short as general solicitor toward the end OK laSt
year His name has been mentioned oy the
policyhOlders who have been seeking for the re-
tirement of the trustees closely associated with
the McCurdy administration. but that he would
relinquish the place OF head Of the law depart
ment was not tnOusnt OF OutSlOS.
President Peabody said yesterday that Mr.. Da-
vies had never intended to give up his law prac-
tice permanently when he became general solci~
tor and that his resignation was entirely volur-
tary James McKeen, he said. would not give
up all Of his practice at once, but that he hoped
eventually the general solicitor would be able
to devote all his time to the company. Mr. NC
Keen did not care 70 discuss his appointment.
His selection was generally regarded last night
as a good stroke. Mr.. McKeen's connection
with the Armstrong investigating committee
where he became thoroughly familiar with In
surance in all its forms, and his reputation as
an able man and reformer will be of great
advantageito the Mutual in its effort to restore
the confidence Of the policyholders and the pub
lie in general.
President Peabody said he had heard no sug-
gestion that Mr. Davies would resign from the
board Of trustees.
The finance and the real estate are the most
important committees. The members Of these
as well as Of three other standing committees
are to be elected by the trustees. but President
Peabody was instructed to make nominations for
them, to be presented at the next meeting. 20 be
held on May %. Three Of the present finance
committee. consisting Of ten members, will have
20 be dropped, as the new finance committee
is to consist of only seven members. Il is now
composed as follows: George F. Baker, G. G.
Haven, Charles r. Henderson. Adrian Iselin. jr..
James n. Jarvie, A D. Juilliard and the presi-
dent, vice president, treasurer and general man
ager ex-oficio. The new committee is to be
composed Of FIVE trustees and the president and
vice president ex-of1cio. 1t is provided that no
payment shall be made or liability incurred in
excess Of $4,000 without the authority of the
proper committee Of the board.
The conduct Of the supply department. through
1-VV--
under the McCurdy regime, is to be hedged about
with unusual restrictions. The following pro-
vision is made:
more than three months or involving outlay ex-
ceeding q 900 must be approved by the president.
president and copies thereof shall be furnished 70
the controller
Two new trustees previously nominated. were
elected at the meeting yesterday. They are
Henry Phipps and William l. Mcmillan. of De-
troit Under the reorganization DR.. Elias j.
Marsh. former medical director. who for some
years has had only nominal duties on account OF
his age was retired.
PRESIDENT PEABODY PLEASED.
1.-The organization is getting settled down to a
business basls,'' said President Peabody, COM
menting on the changes He said he did not
know anything about the padded bills of Lysan-
grand jury, until he read about them in the
newspapers. He said. as a matter of law, he
did not know whether the old executive officers
and heads Of committees could be held RESPONSE
BILE for fraudulent acts Of which they were not
aware. If thought an executive would have
to be responsible for every act done by his in
feriors would not be here" he added. Fields.
in his opinion, got a good deal Of money with
out the participation OF the expenditures COM
nittee in the transaction He hoped to have
the final report of the Truesdale committee at
the next meeting Of the board but was not sure
1t would be done then.
Harry Epps, an expert accountant and book
keeper, and Charles A. Norris, who was assistant
to Andy Fields in the supply department of
the Mutual Life and witness at the Armstrong
investigation were among the witnesses exam
lned at yesterdays session Of the insurance
grand jury.
Before the Armstrong committee Norris testi-
fed that he had signed vouchers for money and
supplies In the name of Fields. He believed the
money had been used for legitimate purposes.
and he saw that all the supplies called for in
the order and voucher were delivered, he said.