The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-09-22
AGAINST PEABODY.
SAID HE WAS READY TO THROW
OLD MUTUAL TRUSTEES.
DickerIng was with the Baker P~OllcyhOld-
ere comprehension Designated for
Slaughter Mere Among the Trustees
VINO Elected PeabOdy-T. n. Fell Out.

Thene we're interesting Developments
Yesterday in the muddle in the Mutual
Life Insurance Company resulting from
the appearance in the field OF q third, or
fusion, ticket. The charge was made that
George T. Dexter, Aeoond Woo president
Of the Mutual, representing the Peabody
management, sought an interview with
Bernard n. Baker, president OF the Mutual
Life Policyholders' Association, an opposi-
ton organization, with a view to patching
up an administration ticket that would be
satisfactory to the persons concerned.
IL u charged further that Mr.. Dexter
designated certain 81 the old MOCurdy
trustees who ought 20 be dropped over
board and arranged for a meeting later
betw cen President Peabody and Mr.. Baker.
The trustees said to nave beer designated
by Mr.. Dexter are men who were active
in electing Mr.. Peabody president and
who are now up for the policyholders'
vote on the administration ticket. Repre-
sentGtives Of the policyholders' assooia-
ton say they have the list OF m which
Mr.. Dexter personally checked. Mr..
Dexter denies hat the checking Of the
names for decapitation represented any
opinion or sentiment on his part, but merely
indicated the wishes and desires OF Preet-
dent Baker OF the p~olicyholders' associa-
ton. The Baker COMMITTEES finally Joined
with the Untermyer organization in pre-
sentinE the united committees ticket"
The news OF the negotiations between
the Peabody management and the leaders
in the Baker committee came out as a result
OF the dismissal from the Mutual's service
yesterday morning OF T. Reed Fell. one Of
the oompany's managers in New York city
and president Of the Life Underwriters
Association. Mr.. Fell is one OF the com
pany's agents nominated on the united
committees ticket and Endorsed on the
fusion ticket. The dismissal wa in ac-
cordance with the policy Of the McCurdy
trustees who are up for reelection TO drive
the agents into supporting the administra-
ton ticket. Fell's dismissal was directed
by the agency committee of the board.
which is composed largely Of trustees OF
kha 6sd regime. Fell's brother, Herbert,
who is also a prominent agent in this city,
and two agency managers who are named
ON the fusion ticket, Biscoe Hindman Of
Louisville and Frederick o. Paige Of De-
troit, have been summoned to the Mutual
Offices M their heads will fall into the bas-
ket unless they pledge themselves not to
work in support Of the opposition ticket.
The Mutual Life Policyholders' Associa-
ton persuaded Mr.. Fell to run on the united
committees ticket, and in view Of his
dismissal and a general message which
has been sent out by President Peabody
calling on all persons connected with the
company "to sustain the administration
ticket wholly and unreservedly" the asso-
citation believes IL is due Mr.. Fell and the
policyholders Of the Mutual to know some
Of the circumstance under which his name
was used. The statement, which IL signed
by John De Witt Warner, the associations
counsel. sets forth these circumstances:
In April last George I. Dexter, one of
the present officials OF the Mutual Life Insur-
ance Company, representing, as this assOcia-
ton then believed and now believes. a large
contingent OF its present directorate, called
upon our president, B. n. Baker. at Balti-
more, for conference as to a ticket that,
while satisfying the r reasonable demands OF
~policyholders. should, as he urged. also giar-
antee efficiency and continuity in the conduct
Of its insurance business. On beng requested
70 be more specific. he design ated Messrs.
George F. Baker, Frederic Cromwell, Julien
T. Davies. Charles r. Hen derson, John W.
Auchincloss. Theodore Morford and Augustus
d. Juilliard as among members Of the old re-
gime who ought not TO be reelected. and whom
IL could not be expected policyholders would
tolerate. These men are now on the admin
i~stration ticket.
Upon this suggestion Of a basis on which
agreement could he had. at Mr.. Dexter's in
stance. Mr.. Baker consented TO meet Mr.. Pea
body and another of1cer Of the Mutual as he
did in company with Calvin TOmpkins. vice.
president of this association.
At this m Getting It soon became evident that
no such concessions were likely to be secured
from the pr esent administration as to justify
further conference with II. But 1t was not
.,-sfl aha 1p,fp2at = aNfAn NtDLaR annaaHaA chat
we could have believed it possible that the
McCurdy trustees could have been included
In II. 1t was not until the publication this
morning OF the above telegram 1.-THE Peabody
order regarding the support OF the admins
tration ticket signed by Mr.. Peabody and Mr..
McClintock that we could have believed that
the presence OF the MoCurdy trustees on the
administration ticket was not recognized by
many Of their associates and the working staff
Of the company as certain TO be resented by
the great body OF policynolders.
As TO the initial interview in question at
which trustees now on the administration
ticket were branded as unfit, fuller informA-
ton can be given II necessary.
The statement goes on TO say that Mr..
Fell, as president Of the Life U~nderwriters'
Association and a man Of creditable prom
inence and high repute in his profession,
seemed an ideal representative OF the ex-
pert insurance staf on the united ticket.
MT. reu winch hI5I dPPAOdSnOu IoAuScu 70
serve.
But says the statement, when urged
TO do 30 and advised Of the above facts,
which justified our belief that a reform
administration would be welcomed and
supported by those Of the present officials
to whom the managers would naturally
look, he consented. but absolutely without
pledges and urging that a larger repre-
sentation OF the expert staf be included
In our united ticket than was finally de-
cided upon"
The poIicyholders' association says it
deeply appreciates Mr.. Fell's public spirit
in not declining In embarrassing duty,
and feels it but justice that the above facts
b. made known.
In regard to President P~eabody's order
calling Tor the support OF all connected
with the company for the administration
ticket, the statement says:
st is a piece Of the selfish, merciless
and brutal policy from which the Mutual's
policyholders and its agency force alike
have long suffered"
Vice-President Dexter issued this state
ment in regard to the charges:
Last spring with the knowledge Of the
president Of this company I requested an
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