The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-09-06
MUTUAL TO CRUSH REBAHNG.
PROMISES Summary ACTION
WHEN PROOF rs PRODUCED.
COmpany's Side Of Texas Ease Back
a. Untermyer with Letter From Chairs
man or Iowa Commission supporting
+ Present Management "A Third Ticket.

~ NuNFEUN VI NNN AANNNEt " ~ ~
man or Iowa Commission supporting
Present "A Third Ticket.
George +. Dexter, second vioe-presIdent
OF the Mutual Life Insurance. Company,
made this statement yesterday relative TO
the charges contained in two letters sent
by men in San Antonio. TeX., to the inter-
national ~policyholders' committee:
THE staten ent that the Mutual Life
agents in Tex as were rebating was first
brought to our attention through q COM
munication to the president through a dis
charged and disgruntled employee OF our
San Antonio Office,
Specific charges were made and the
names Of the policyholders alleged TO have
received a rebate were furnished. An
Investigation was Immediately started and
We have a written statement from every
one Of the p~olicyholders We have $50 far
been able to reach denying the charge.
The complainant has been informed Of this
fact and asked TO furnish proof Of his claim.
We are ready 70 take summary action in
this or in any other case whsre proof is
produced that agents Of this company
> are violating or have violated our fnstruc-
tons prohibiting rebating. Our Instructions
are explicit. and agents will be dismissed
whenever the offence il proved
The complainant referred to 10 one OF the
two men who communicated with the inter
national committee. The whole matter
has been referred by the officers Of the
international committee to Grover Cleve-
land, rebate referee for the three big COM
psnies.
The Mutual Life people came back at the
i~nternational committee yesterday FOR
having passed out the San Antonio mans
letter to President Peabody by handing
out a letter written by J. H. Jamison. chair
man Of the recent Iowa insurance COM
mission, to the international organization.
In this letter Mr.. Jamison says that it is
the general impression in the West hat the
international committee was organized
/, through the efforts OF Mr.. Lawson (oi Bos-
ton, for the purpose Of gaining control
Of the gements Of the Mutual and the
New York Life in the interest Of Mr.. Law
son and some OF his friends.
1T occurs TO me-, " says the letter. that
If this committee wants 10 do something
IN good faith for the ~policyholders Of the
Mutual Life Insurance Company they can
do IL best through the directors already in
charge and through Mr.. Peabody, who, l
understand, has been elected president OF
this company since the investigation in
New York.
The Iowa man wants the international
committee to show him who is back Of the
& movement and what reforms it proposes to
~inaugurate in the event Of its ticket being
elected, 1t occurs to him that It In very
essential that the men who are back OF the
Mutual Life ought to know something
about insurance or be men who have had
experience in the management OF large
institutions,
al understand, I" says the Iowa man, that
the present administration are largely men
OF that character and can, perhaps, manag
lthis matter better than any new set OF
men could possibly do it,
MIR. Jamiscn holds that there were no
disclosures before the Armstrong COM
mittee that would warrant the policy
holders in turning the men now in charge
out and putting in new hands, for il has
been esta blished that the MutuaTs securi-
ties are intact, "a reported.
Il am informed I" said Chairman Jamison,
shat Mr.. La wson, as ! said before, started
the inauguration OF this committee and
endeavored TO get influential men in differ
ent parts Of the country to assist him in
revolutionizing the mana cement OF some
of these large companies. II this is true it
seems to me that the greatest disaster
that could befall the Mutual Life would be
to get IL into the hands OF men who have
been enemies Of the management and who
are frenzied .fna nciers, who are jealous OF
other great men h have made a success
of this financial institution"
Mr.. JRmison says that he can't conceive
how any committee in New York can select
n board of directors who will more effec-
lively protect the interests of the policy
holders than the present administration can.
The International people he We denied un-
euuivoca lly many times that La wson has
anything to do with the committee.
No explanation was given at Present
Peabody's Office az to how the Jamison
letter came into his possession. The COM
mission Of which Mr.. Jamison was chair
vyNan NJ .oraafad hy act NJ Inuvn GRnQraI
Assembly. Nobody in insurance circles
in this city recalled any reforms that had
emanated from the commission.
There was a long conference yesterday
between the nominating committees" OF
the international organization and that
Of the Mutual Life P~olicyholders' Associa-
ton. The two organizations are trying
10 unite on one ticket. The international
Olney. Harlow n. Higinbothan, Charles
Emory Smith, Alton B. Parker, Col. A. NJ.
Shook and FOL. Jennings. who is acting
as PROXY for Gov. Broward Of Florida.
The Mutual Life Association was repre-
VEented by Calvin Tompkins, Bernard n.
SHAW, John De Witt Warner and others.
The conference lasted until late at night.
A full committee meeting of the inter-
national organization will be held at the
Waldorf Astoria to-day, and at that time
the policyholders' tickets for the Mutual
and New York Life will be decided upon
definitely. IL il likely, though, that the :.
tplefVlOnN VIII nOI w HlANlt DuDilV ulLu
October IL, the date On which they must
be filed at Albany.
IL was announced definitely yesterday
that there will be a third ticket in the field.
This announcement came from a person who
is interested in the organization OF a new
committee. This third ticket, il was de-
clared, will DO absolutely independent Of
the Other two. Officers OF the international
committee have given it as their opinion
that this third organization is being backed
bv the insurance companies for the purpose
of splitting the policyhOlders' vote. So far
"a * known the new committee has made
no move yet toward getting the names OF
the policyholders copied or c~onducting a
campaign through the mails. Without the
cid Of the companies il would be almost
impossible for them to get the names in time
for any campaigning. There will probably
he some definite announcement to-day in
regard to this committee.
Samuel UntermveT. counsel for the inter-
national committee. will soil on September
II for Europe. where he will perfect the com
mi'tcc's bra nch Enizations there and
incidentally take a brief rest. He will be
back in this country before the announce