New-York tribune., 1906-04-13
PEABODY OFFERS HEADS.
Trustees VII Surrender or Shoe
Cause, He Tells EneIshmen.

President Peabody of the Mutual Life Insurance
Company may be called on to make good on
statement he made yesterday when he said that
If the British policyhoders would state what trus-
tees they wanted to resign, those trustees would
resign or explain why they should not do so.
The statement made in a discussion with
reporters of cable message from London saying
that the British policyholders wanted the retire
fnent OF the trustees who had been closely asso-
clated with President McCurdy. 1t is looked upon
IN the light of a chaengs to them to bring forth
any charges they may have against any trustees
and shows to what lengths the present manage
ment Of the company is willing to go in order to
placate the British poltcyho!ders. 1t was pointed
oue last night by person in touch with the situa-
uoh on the other side that Lord Northclffe chair
man OF the British Policyholders' Association is
not In England now, but that on his return he
would be likely to taxa up President Peabody's
Challenge
president Peabody smiled when he was told that
the oispatcE from London stated that the policy
noloers there were dissatisfied with the reply of
Joseph H. Choate to their requests which were laid
peiofe the. trustees of the Mutual Life by A. D.
Juilliard
forty-eight hours ago." he said 'I saw cable
message from London in which the British polcy-
holders said they would be guided only by Mr.
Choate- Now that Mr.. Choate has done something
Ior them seemingly they are not satisfied with
"hat he has done. and want something else
When Mr. Peabody was told that it was reported
that the British poicyholders wanted the retire
ment Of the McCurdy trustees. he said
What is meant by the McCurdy trustees? 1
understand it means all who were in Mr. McCurdys
administration That would mean that all the pres
ent board except myself would resign"
What the British poliyhoders want according
10 reports he was told. 'fs the retirement the
trustees who particularly close to Mr. Nc
Curdy and who took active part in carrying
out his policies. Men like a D. Juillard and
George G. Haven"
And would they include George F Baker and
Julian 7. Davies?" asked President Peabody with |
a laugh.
ut would seem that they would" was the reply |
The British policyhoders have not intimated to |
US that they wanted the retirement of any par |
tcular trustees, added President Peabody
But that may be coming 4" was suggested
II the so-called McCurdy trustees were to retire |
To-Day said President Peabody, they would re- |
guest something else Tomorrow
i want to say. however. that If the British policy
holders will write and say what trustees
should resign, those trustees will resign or explain
why they should not"
President Peabody said he had never heard of
any such desires the part of the British policy
holders. but he had heard of other things |
they wanted, which desires had apparently been |
abandoned In order to make clear just what de-
fnanos or requests had been made to the trustees |
OF the Mutual Life through Mr.. JuilIard. who has
Just returned from England Mr.. Peabody said:
TTst t va1} they asked & us to permit an English aGu-
bilities which already had been made by the In |
ba4 qranGe @ Departm1ent OF the State of New York
= Second second they asked that we elect one more
English Eng trustees This, l presume. the company
have names suggested by the English policyholders
;, Third we have been asked to turn over the Eng
be & formed in London and to pay over at the same
the hs f95a M I ~ held against the English
doing at present. For that and for other reasons
questions involved are being examined now by Mr.
Choate. 49,
1t may be asserted on good authority that the
international Policyholders' Committee will not
consent to the surrender of the British business of
the Mutual Life to a company TO be formed there
Indeed there those interested in the situation
who do not believe the proposition was ever seri-
ously advanced. They say that the British policy
holders particularly anxious to force the re-
tirement Of all the old McCurdy influences in the
board of and also the influences attributed
to the Standard OIL group.
Although attempt will be made TO induce D.
Life, TO reconsider his resignation, which takes
effect on May TO- it is said that the fears
body of British policyholders. may attempt TO
into the Mutual's business there. It has been de-
cided that the successor to Mr.. Haldeman must be
of the foreign department, left for |
England he was considering the names Of three
year. Since then four other candidates have
tered the field.
1t true that the agents of the Mutual Life were
receiving increased commissions and commissions
go into effect next January He said
mend such course, the agents had suffered |
through the disturbance in the in |
surance world. and it would be proper that some |
be made to them.
working on the preparation of the lists of policy
holders for use in the coming campaign for proX-
les. The law department has granted to counsel |
for the McCurdys an extension of time until May
plaint IN the suits against them. IT said yes
Andrew e Fields by the Mntna e pfgup against
only actions against him in contemplation this