Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1906-12-19
Both Sides Claim Victory in the
New York Life and Mutual
Elections
PROBABLY 100000 VOTES CAST
Several Weeks Will Elapse' Before Re-
suit. Are Knows Some Of tho Votes
May Be contested-sillion Dollars
che Stake for Which the Contest Was
Waaed-First Real Election.

New York, Dec. 19.-Probably never
before in the history OF the country has
there been anything to compare with
the election in this city Of trustees for
the New York Life and the Mutual
Life Insurance Companies In the num-
Der OF ballots cast and In the expendi-1
ture OF time and money, the election
approached that Of one OF the states
OF the union. certainly no corporation
or society election ever measured up to
It in magnitude or interest
The total vote cast in both compan-
les will approximate 100000, Of which
about 100000 will be in thu. New York
Life, in which the contest has been
more vigorously and more bitterly
waged. 1t is expected that it will be
some weeks before the votes are count
ed and the results Of the campaign
known.
The Equitable Life Assurance So
ciety. the Mutual Reserve Life Insur-
ance Company, and the Security Mu-
tual OF Binghampton, also held cleo
tons, but as there were no opposition
& tickets in the field in these compan-
i les, and the elections Of their admins
tration tickets were but perfunctory
proceedings.
officials Of both the New York Life
and the Mutual companies declared
that the administration tickets had
without doubt been elected by large
ma jorities.
The international policy holders
committee, thru Samuel Untermeyer'
Its general counsel, expressed the con-
viction that the reform tickets would
win in both companies. but by COM
paratively close margins
Representatives Of the administra-
ton of each company, the international
policy holders committee and State
Superintendent of Insurance Kelsey
were present during the voting.
There were frequent clashes over the
legality Of votes and 1t is likely that
much litigation will grow out OF the
election.
Representative Nicholas Longworth,
secretary of the international policy
holders committee, cast many of the
anti-a administration votes and was
present all day.
Never has so gigantic a struggle
been waged, for the stake involved IS
nothing less than II, 000, 100000 in casa.
or this 81 1000, 100000 the New York
Life held at its last report $50. 600 600.
The Mutual Life held s4S0,000.00o
Since the last report was filed these
vast sums-so vast that only the fin
ancial experts of the great govern
ments Of the world can cope with them
have been increased
This $1,000, 100000 is a sacred trust
held for the benefit Of the 100000 poll
+ ICY holders in the two companies. Up to
! the present time 1t has been controlled
BY two sets OF trustees twenty-fo
for. the New York Life and thirty-six
Tor the Mutual Life-and these truss
tees nave been selected practically by
themselves and naturally In the inter-
ests of the great financiers who have;
allied themselves with the two COM
panies.
Never until this year has the par
sticipation OF the policyholders in the
elections Of trustees of the mutual life
Insurance companies been anything
more than the most absurd farce. Nine
ty-mdne per cent OF them never knew,
In fact, that an election was to be held,
, ana no effort was ever made by the in
trenched management to inform them.
FOR instance, in the Mutual Life
election OF 1904, the total number OF
votes cast was 1853 out of approximately
100000, and these votes were cast by
employees and agents Of the company.
H At the election of 1905 the total NUM-
her Of votes cast was 1919. In the New
York Life, which has nearly double the
number Of policy holders in the Mutual,
the same farce was enacted year after
year at the annual elections.