The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-09-13
PARKER DESIRES
RADICAL CHANGE
is Opposed to Insurance Ad-
ADMINISTRATION Ticket
He GIVES HIS REASON
Many of the Candidates for Re-elec-
ton Are Said to Be Responsible
for Former Mismanage-
ment of Affairs.

New York, September 12.-Alton B.
Parker. chairman of the executive COM
mttee of the International policyholders
committee, today made public the text
of long letter written by him at the
request of the committee in reply to
Bishop Charles B. McCabe's letter, declar-
ing himself in favor of the "admlnistra-
ton tickets of both the New York and
Mutual Life Insurance companies.
After calling attention to Bishop Nc
Cabe's failure to attend any of the meet
ings, Chairman Parker expresses regret
that the bishop did not seek from the
committee enlightenment on the records
and personnel of the administration
ticket. At great length Mr.. Parker re-
views the careers of many of the admin
istration candidates of the New York
Life, calling especial attention to the
connection with the Mccall administra-
ton, under which the scandal occurred.
OF the thirty-six Mutual candidates, flf-
teen Mr.. Parker declares. are members
of the old McCurdy administration, and
in various degrees responsible for the
scandals revealed by the Armstrong in
vestigation.
There never has been an investiga-
tion," writes Mr.. Parker, of the relations
of the trustees of the Mutual Life, who are
now candidates for reelection with the
trust companies that are controlled by
the Mutual Life. We believe that the
policyholders are entitled to know the
extent to which the trustees Of the Mu-
tual Life have been profiting by their re-
lations with the subsidiary trust COM
panies, and the only way to obtain this
Information is through a complete change
of management which will open the books
to the policyholders.
Funds Deposited.
ut appears that on February 1, 1908, the
Mutual Life had almost $20,0O0000 on de-
post In various banks and trust COM
panies in most of which its trustees were
| interested.
| $50 far as has been ascertained the po-
| liticaI contributions, excessive salaries and
| commissions, the corrupt fund. the losses
| on real estate and interest are estimated
| az over $15O00,00 as the result OF the past
| administration.
1.-THE responsibility for the state OF
| things disclosed rests upon the finance
| committee four members of which are
| candidates for reelection. The RESPONSE
! bility for the unlawful commissions rests
upon the agency committee, all of whom
are candidates for reelection. Part OF
the responsibility for those losses and
diversions of funds rests upon the audit
ing committee. of which two members are
| candidates for reelection
| 1--WE believe that there should be radi-
cal changes in the policies of those COM
panles- both in the conduct of the insur-
ance business and the investment of
funds. None of the old directors seeking
reelection are experts in the insurance
business. None of them have ever been
connected with the business except as d.
rectors, and there can be no legitimate
reason for embarrassing the work of re-
form in these companies by electing any
| of them.
ut Is impossible for us to reconcile your
| endorsement of the administration ticket
| with the existing facts, except on the
theory that you have been misinformed.'