The midland journal. (Rising Sun, Md.) 1885-1947, 1906-03-23
POLICYHOLDERS
MAKE PROTEST
Their Money Spent in Campaign Fol
Proxies.
TIE NEW YORK LIFE IS CRITICISED
Letter Sent to Alexander E. Orr on Be-
half Of $4,000 Policyholders, Strongly
Protesting Against the Rfiort OF Trustees
Whose Terms Shortly Expire to Have
Themselves Reelected.

New York (Specia) Samuel Inter
myer, counsel for the International Poll
cyholders' Committee, of the New York
Life Insurance Company, sent letter
to Alexander E. Orr, president OF the
New York Life, protesting, in the name
Of the policyholders, against what he
terms the extraordinary effort that is
being made by the officers of the COM
pany to obtain proxies for the annual
election which is to be held next month.
1t is estimated that more than $4,000
has been spent in this way.
The poxies are for use at the annual
meeting of the New York Life, on April
III. in the event of the failure to pass
the Armstrong committee recommended
tions before that date. If the Arm
strong committee bills relating to
mutual company trustees are enacted
before April II the proxies will, of
course, be void, and the annual meeting
postponed until November IS, or some
other date set by the committee, when
an entire new board will be elected.
Mr. Untenyer in his letter to President
Orr intimates that it is the desire of the
management to re-elect the six trustees
at the April election for the effect which
it will have in the more strenuous cam
paign that will precede the annual cleo
ton set by the Armstrong committee.
Mr. Untermyer's letter in part is as fol-
lows:
AS counsel for policyholders and com
bnf 1r
wards of $4,000 policyholders in your
company, / am instructed to protest in
their behalf against the extraordinary
use that is being made by you and your
pany who are being pressed into the
service of soliciting poxies for the re-
election of yourself and associates as
directors at enormous expense to the
policyholders.
1T was under your administration that
the requests of policyholders for an in
spection of the lists, SO that they might
know who are their associates and be
able to communicate with them as to the
selection of trustees, was recently de-
MED
when the court granted that demand
it was under your administration that
the funds of the policyholders were used
in the appeal from that ruling, which
resulted in the extraordinary decision
that denied to them access to the lists
1T is remarkable that in the opinion
in that case the court observes with pro-
phetic vision that these lists 'might:prove
valuable asset in INSCRIPTIONS hands.
And so they will if you are permitted
to utilize them as you are now doing.
II am informed that within the past
few days you sent out from your head
Office to your entire agency force
throughout the country kilograms urging
them to collect proxies.
IT have before me one of a number
of printed letters and circulars issued
from your head office, signed by the cash
Ter of your company with an accompany
ing form of proxy, addressed to policy
holders, inclosing biography of each of
the directors and officers whom you seek
to reflect, including yourself. This
proxy is to Messrs. John Clahin, Oscar
S. Straus and Clarence H. Maclcay, of
whom biographies are also Enclosed,
printed at the expense of the policy
holders
These documents are coming to us in
great numbers from infuriated policy
holders, with the request that our com
mittee take some action to prevent your
thus wasting the money of the policy
holders in the attempt to return yourself
to Office"