The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-02
JEERSA AT TRUESDALE REPORT.
TNTERNYER SAYS 1T PROVES
NEED or REAL INQUIRY.
Asks why Truesdale Overlooked the Agency
Committee Of which he Was a Member
and why Fowler or the NJ. Y. Life
DUIgcd Liability or That Committee.

DOtiBru lIaDllity or Ihat COHlHiiiteo'
Samuel Untermyer, counsel to the inter-
national p~olicyholders' committee, in an
interview last night sharply attacked
the investigating committees of the New
York and Mutual life insurance companies
Mr.. untermyer was questioned in regard
to the findings Of the Truesdale committee
Of the Mutual, published yesterday.
"Yes /" said he, Il have read the latest
instalment from the expensive and over
worked press bureaus of the insurance
companies. The New York Life was heard
from. but its explanation was punctured
by Hamilton y revelations. And now comes
Mr.. Perkins. the real head and front of the
New York Life. who, to protect himself,
asserts that the members Of his finance
committee knew all about the campaign
contributions.
The ~farcical and insincere character of
these performances becomes more and more
apparent az each chapter is issued, The
~policyholders are not so badly misled as
some gentlemen seem to lima CINE. nor are
their memories quite so short as is supposed
"Mr. Truesdale William Fl. Truesdalel
was a member Of the agency committee OF
the Mutual Life, which was charged with the
duty of supervising the cont rac while
McCurdy. Thebaud d Co. were drawing
millions from the company over a period
of years. Will this so-called report is
loud in it, denunciation OF those who have
already been excoriated and exposed by
the Armstrong committee-which received
no aid or comfort from Mr., Truesdale and
his associates- it is as st tram ely silent as to
,bo D,.D,p,tIfI,t, ., ,T tho "a ~ porornittca
as was the Fowler committee concerning
the lial ilitv of the finance committee of the
New York Life.
"All these belated exposures Of the evils
Of which we already know, i'll sp te of the
attempts of these gentlemen TO suppress
the facts, serve only to emphasize the
urgent need for genuine investigation OF
these companies by mana ements that
are in no way responsible for the oontinu-
ance through all these years of conditions
of which we are Just beginning to learn the
opening chapters. One nj contem-
plate without dread the depths of corrup-
ton that must underly the surface, now
only scratched.
The companies have exacted through all
the years such eXorbitant premiums and
have returned so little that their solvency
is fortunately beyond question, so that they
can we'll endure the strain. But it must now
be apparent to all that there can be no
Ciltli 4 ~ NV WV lSepN 10
and the responsibility distributed where it
belongs.
THE efforts to shift all the blame Upon
the shoulders of the already discredited
and deposed officers ought not and will
not succeed.
"For almost a year after the Equitable
troubles we're in the public eye these
gentlemen stood idly by, not daring even
to go through the form of an investigation.
1t is too late now to befog thepublic mi nd
or to keep out the light.
at is now not only admitted but asserted
by way of defence in the Perkins habeas
corpus proceedings that Mr.. Perkins,
while civilly liable for the campaign contri-
button OF 1904. ought not to be held crimi-
nally liable, because the members of his
nance committee were aware of the con-
tribution n approved it.
How comes it that Mr.. Perkins and his
associates on that committee did not sue
themselves instead Of trying to divert
attention by piling up suits against the
irresponsible estate OF the dead presi-
dent? Perhaps they did not know that
they knew Of the contributions when they
virtually directed the beginning Of those
suits. This fairly illustrates what the
~policyholders may expect from that sort
of 'housecleaning' The sooner we have
an end of all this claptrap, the better it will
be for all concerned, including the reputa-
tons of the gentlemen who are conducting
the performances"