The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-08
NOT BOUND, SAYS PEABODY,
Writ MS PRESIDENT DECLARES
HIS INDEPENDENCE.

in Letter TO Haldeman He Says That He
Has No Connection With Any Standard
oil Clique Nor With Harriman-Is
Working Only for the Mutuals Interests
letter written by President Charles A.
peabody Of the Mutual Life Insurance
Company to D.. c. Haldeman, the company's
fondon manager. was made public yeeter-
d,v, In this letter Mr.. Peabody asserts
,,ost emphatically his entire independence
n all financial cliqles. He denies in the
strongest terms that he represents in anys
Vay Standard Oil interests or that he is
c~ontrolled by f. II. Hartman. Haldeman
IN the Mutual manager who resigned only
short time ago because he no longer had
faith, he said, in the present mana cement.
Nr Peabody's letter was written some time
hafore Haldcman resigned. In part i
follows,
# appreciate fully the difficulties under
uhich The interests of the company are now
laboring and which, to a great extent. are
cannon 10 all The agencies, foreign and do
nestle, but which press more heavily on you
than on some of the others. lam convinced,
hoNever.that the company has entered upon
a course which, persisted in consistently,
will ultimately triumphover the unfortunate
ircunstances which have shaken public
confidence and will restore to us the good
will Of our policyholders and others who
very naturally nave criticised severely the
methods employed by the company.
Those portions Of your letter relating
70 he company's business are referred to
Vice. President McClintock, who has been
placed by the committee on agencies In
general charge Of all these agencies and
rave been and will be the subject of serious
consideration by him and the committee.
ITO those parts which relate TO the policy
10 be pursued by the company's chief ex-
~ecItive. and which theref ore relate more
, personally to myself, | beg leave to say that
The statements of the newspapers that my
appointment as president has any connec-
don with any Rockefeller Morgan oombi-
nation are entirely without foundation.
have not now and never nave had any con-
necion Of any kind with these gentlemen.
Indeed. | have not their acquaintance. and
have no reason to suppose and nave never
papers, that they had any connection with
or attempted to exert any influence, directly
or Indirectly, on the subject of my election.
In saying this | intend to be understood as
saying all that is to be implied by these
words,
NdIll 10 bt lIICISlOOu dis SipllR I0HL |
al! suggestions that am the instrument Of
or was proposed by or am in any way
under the influence Of the gentlemen identi-
fed with the Standard Oil Company have
no basis whatever, except in the efforts Of
sensational journalism, Substantially the
same may be said OF Mr., Hartman. Mr..
Hartman has not now and never has had
any connection with this company. I have
never heard it suggested that he wished
TO have or that he or any one else expects
him to have any influence, direct or in
direct, over its affairs. I do not believe
that he has ever thought Of having any
such influence, or has any desire in that
conner ton.
please do not understand me as in any
way, by implication or otherwise, intend
ing or desiring to cast any reflections upon
Any, Of these gentlemen. | am simply
stating facts in answer to the suggestions
Of your letter, which In my opinion are
unjust to them as they are to me.
10 sum up in a few words, let me add
that I came TO the service of the
without pledges, bonds or obligations Of
any kind which could make me subject to
the In influence OF any one as controlling my
official action. The purpose of the trustees
n eecting me and my purpose in accepting
the election are to reorganize the business
m the company upon the most efficient
methods. The most rigid economy in the
expenditure Of the company's funds, the
most prudent and conservative investment
n the company's resources, the utmost
'tglanoe and activity in the promotion of
he company's busine IS and the guarding
Of its interests are the only thin gs that
been asked of me by those who pro-
vosed and supported my election.
For any action OF mine as president
alone am responsible. No one will attempt
70 control me, nor would ! be influenced
BY any one against what conceive to be
The best interests OF the company and its
no~licyholders. Much has already been
done, much more will follow. We are now
plans for the improvement Of the
Nomrany's service, which we hope to per-
during the coming spring. and l ask
,nly such reasonable patience and ipdul-
renee as the importance Of the work justi-