New-York tribune., 1906-06-19
NEW MUTUAL COMMITTEE
Makeup Shoes Large Financial In
tereStS 4re Still IN Control.

That the control of the Mutual Life Insurance
Company will remain with the large financial in
terests that were influential in its affairs under
the administration of President McCurdy is indE-
Gated by the makeup Of the general committee
or the board Of trustees For some reason other
President Peabody had been concealng the identity
OF the members OF this committee, which has been
made up by the election of member each by
the finance, real estate. insurance and agencies.
rnortuary claims and auditing committees. Its per-
sonnet was learned from trustee yesterday.
President Peabody is ex-oficio member and
chairman Of this committee, which has Just been
organized. Vice-President McClintock is also an
ex-offcio member. This committee, which was pro-
T1ded for under the bylaws. is of the
most important, IL has the functions OF the
usual executive committee. 1t Is at the
call OF the president to consider such affairs of
the company as may be presented other than those
specifically assigned to other committee
under the bylaws
This committee will also apportion among the
various committees the amounts TO be invested
under their direction and will receive the quarterly
reports showing the business and the income and
expenses Of the company. The committee will also
approve OF all salaries of officers elected by the
board, Will fix the compensation of all officers ap-
pointed by the president. and may provide for the
continuance in the service of the company, at re-
duced compensation, of officers and employees at
tanning the age of sixty-five years.
Although the members of this committee were
elected by the five committees mentioned, 1t is said
President Peabody. The general committee is made
up as follows: George F. Baker. representing the
finance committee; Charles r. Henderson. Of the
real estate committee; Dumont Clarke, Of the in
surance and agencies committee; Charles D. Dickey
of the mortuary claims committee and John w.
Auchincloss. of the auditing committee. Some idea
OF the vast financial interests represented by the
men on this committee may he gained from the
following partial of corporations Of which they
are directors:
George F. Baker president and director Of the
First National Bank director of eleven other banks
and trust companies director Of the United States
Steel Corporation and a large number Of corpora
tons in which the Morgan interests are Influential
a director of the Erie. the Lackawanna. the New
York Central and eleven other railroads. and di-
rector Of number of other corporations,
Charles r. Henderson, head of the hrm of
Henderson & Co. bankers director Of the United
States Mortgage and Trust Company, the Title
Guarantee and Trust Company. OF several banks
and trust companies and several fire insurance
companies and other corporations.
Dumont Clarke. president and director of the
American Exchange National Bank. member of the
board of managers of the Adams Express Com
pany, director OF the American Beet Sugar Com
pany, the Commercial Cable Company, the Law
yers Title Insurance Company, the Long Island
Railroad. Swift & Co, the Washington Life In
surance Company and several other corporations.
Charles D DicHey, member OF the firm Of Brown
Brothers & Co. director of the Fifth Avenue Trust
Company the Merchants National Bank, the Lon
don Assurance Corporation, the Washington Life
Insurance Company and other corporations.
John W. Auchincloss. of Auchincloss Brothers.
exporters director OF the Illinois Central Railroad,
the Mississippi Valley Company and other corpora
tions.
It was also learned yesterday. in spite Of Presi-
dent Peabody. that James c. Holden had handed in
his resignation a member Of the board OF trus-
tees Of the Mutual Life. He is TO be succeeded by
]. Lynch PendeTgast secretary and manager of
the National Safe Deposit Company. The latter IS
a subsidiary corporation Of the Mutual Life. occu-
pying space in the Liberty street side of the build
ing. Mr.. Holden is president Of the safe deposit
company.
The resignation of Mr. Holden is not altogether
surprise. He is more than eighty years old, and
expressed the desire 10 retire months ago. He
is the Oldest living trustee Of the company having
/ become a member Of the board IN 1867. For many
years he was member of the expenditures COM
mittee. which gained notoriety in the insurance
investigation through the padded bills which 1t
was shown have passed and the hundreds Of
thousands dollars which II allowed TO go into
yellow dog funds by passing vouchers for legal
! expenses and other such alleged objects This
committee passed out Of existence with the passing
Of the new bylaws MI Holden, in common with
the other members of the old committee, has been
sued by the Mutual Life FOR a accounting and
restitution Of the money which It is alleged was
wasted through the neglect Of the members of the
committee.
One Of the firms favored by the old supply de-
partnent of the Mutual Life was Holden & Motley.
of which ]. c. Holden's son, now dead. the
Hermann G Won Post, the second oldest living
director who entered board the year after
Mr. Holden, has also sgnihed his intention Of
tring from the board.
When a request sent in to President Peabody
Yesterday a copy OF his reply TO Samuel Inter
myer. counsel of the International Polcyhoiders
Committee. who attacked the president in letter
published Sunday. word was sent out that Pres
ident Peabody had not replied 10 Mr.. UnterTIyer
I and did not intend to do
A letter received from Ntce-PTesident McClfntock
yesterday said that he would be in Paris to-day,
and that had left England with the situation
there much improved, far as the revolt Of the
Mutual policyhoders concerned. II IS under
stood that the Actuarial Society Of England
sisted Mr.. McClintock materially in restoring con
ddence in the company. He is well known 70 tho
actuaries there, as he formerly president OF
- EnnLa n a ct