New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-09-13
NEW MUTUAL LIFE BANp
TO BACK MANAGEMENT.
Polcyhoiders' Protective Association
Formed-Replg 10 DR.. McCabe.

a. meeting OF thirty-four men. fo- the most
part large poicyholders IN the company. the
Mutual Life Policyholders' Protective Associa-
don wss organized At the Waldorf yesterday.
resolving % support the companys "adrinstra-
ton" against the 3oint opposition" ticket James
c Colgate. a sl.5o0OoO policyholder was elected
president o. the association: william F. Har-
sfty OF Philadelphia. chairman OF the executive
committee: Charles Buckley Hubbe. who was
associated with the Equitable's Crimmins COM
raittee. treasurer. and Henry Siegel, temporary
secretary.
Douglas Robinson. President Roosevelts
or0ther-in-;sw. AT the meeting. and in
corsed the associations purposed ~administra-
;ioa" campaign. Congressman Nicholas Long
worth. Mr.. Roosevelt's son-in-law. IS secretary
OF The international committee. which seeks the
defeat OF the administration ticket
Photographers holding policies 10 the amount OF
s5.oO000o. or an average Of about $4,000 each
attended the Colgate meeting. although II was
sale tha- the,policies represented ran from $4,000
upward
The meeting resolved 20 appoint an executive
committee OF FIVE. as well counsel. clerks and
so forth. 90 ''circularize" the policyhoders and
conduct campaign looking 70 the success OF the
administration ticket. A preamble and res
olutions were adppted declaring that the inter
national committee. through Samuel Untermyer
had made false and unfounded accusations"
against certain OF the oompany's present officers
and trustees. Enthusiastically representing that
the present board and its candidates were com
United the continuance OF abuses found 10
exist under former officers OF the company II
was resolved unanimously that the administra-
don Of the oompanys affairs by SIS present
executive officers and trustees is efficient
economical and beneficial 10 the policyholsers.'
and that the interests OF the policyholders VIII
be best served by tho election Of the administra-
ton ticket ana the avoidance OF a break in the
continuity OF the company's management.
Among the prominent New York policyholders
who attended or were represented az the meet
ing were Mr.. Colgate. Mr.. Siegel. Nj Robinson
Or. z. r. l. Gould. William Cow and Edward
Holbrook Others were William A. Gayle. Of
Montgomery, Ala: Narcisse PerodeaU. OF Mont
real: the Rev DR.. c. c. Tiffany. OF Sharon.
Conn; the Rev DR.. Thomas O'Hanon. Of Long
Branch y J: Or. William o Thompson. OF
Columbus Ohio: James N Boyd. OF Richmond
Va and George r. House. OF Wheeling. W Va
Ex-Judge Parker made public yesterday his
reply 20 Bishop McCabe. The letter was OF
eleven typew-i;ten pages reviewing the inter
national committees case" against the admin
,strations OF the New York Life and Mutual
Life. and inclosing copy Of the committees re-
cent resolutions relieving Bishop McCabe from
recalled attention 20 Bishop McCabe's absence
from all committee meetings. and repeated much
Of the arraignment of the two administrations
made in recent statements by Mr.. Tntermyer
and G. r. Scrugham IN reply 10 Bishop Nc
Cabe's indorsement Of the administration"
tickets. Mr.. Parker says that 1T is believed"
that George W. Perkins Is still the dominating
spirit IN control" Of the New York LIES affairs.
The purpose Of this cOmpanys new bylaws, Nj.
Parker declares. is the intrenchment OF MessTs.
Kingsley, Buckner and r. r. Perkins a vice
presidents, without giving the policyholders an
opportunity 90 pass on their merits.
Mr. Parker's letter also revives some u the
Armstrong testimony. declaring that in view
Of the Fowler report II the present men con-
tinue in Office no suit can be brought consis-
tently for an accounting Of the '5oint account
transactions between George ". Perkins and
The reply again calls attention 70 the sup
pressed schedules" II the independent ac-
countants' reports, urging that only entirely
new management can thoroughly investigate the
companys affairs.
Mr.. Parker directs notice TO the fact that no
suits have been brought thus far against the
Mutuals agency. finance committeeman, etc.
for millions OF dollars alleged 10 have been used
improperly, or improperly accounted for. He
says: so far as has been ascertained. the Do
litical constitutions. excessive salaries and com
missions. the corruption fund, the losses on
real estate and interest. are estimated al over
Sl50oO0oO as a result OF the past administra-
ton"
Mr. Parker says the finance. agency and
auditing committees were responsible for the
conditions disclosed. several members. however
being candidates for reelection. In closing he
repeats that Bishop McCabes failure 10 con-
suit with his associates and RcQuaint himself
with the fact is responsible for what the COM
mittee deems the bishops error Of Judgment +"
q. r. Scrugham the international commit
tees manager, made public a letter sent 10
Bishop Mccabe by =. T. Gown Of Waterloo
IOWA. p Methodist policyholder." who asks rbe
bishop 20 explain HIS letter 20 Mr. Parker cred
sting tie bishops action 70 the persuasive in
nuence Of President Peabody" ard declaring
u, with adaptations. another instance Of In the
Bishops Carriage"
Russell W Fish. secretary Of tho Mutual Life
Fohcyholdeis' Association. gave out Yesterday
letters from Theron Epson Insurance COM
missioner Of Connecticut and F. g Cooper In
surance Commissioner Tor North Carolina in
oorsing the as0ciation's efforts 20 elect an op-
position ticket.