Middlebury register. (Middlebury, Vt.) 1886-1937, 1906-02-09
To Life Insurance Policy Holders.

To Life Insurance Policy Holders.
In answer to my first appeal to the
policy holders of Vermont l have re-
daily.
The time has now come to make
little more definite statement of plan and
purpose.
My proposal is to unite the life policy
holders of Vermont in one organization
to protect their great interests in the
insurance companies where their money
is deposited as protection to their heirs.
The organization may be very simple.
l propose that it have permanent head
quarters in Burlington; that it appoint
one or more men, not to exceed three, to
attend the annual meetings of the insur-
of Vermont policy holders at the elections
in the examination of accounts, the
regulation of expenses and the election of
a board of honest and active trustees. If
at the same time other states should send
representatives as they undoubtedly
WILT will only be a short time before
the policy holders of the country will
take complete control of the companies
The man or men chosen to take the
proxies to the meeting and vote upon
them could be elected by the direct vote
of the policyholders by mail or in person
or by a committee of one from each
county, as seems best.
The organization machinery need not
be elaborate, just mutual society to
serve mutual interests in charge of one
person to receive proxies and record the
wishes of the policy holders. The cost
would be only few cents year-pos-
siby ten to twenty cents-for each policy
holder.
The need of an organization that will
eventually place the control of the COM
panies with the policy holders is just as
apparent now-even more so-as it was
when the investigation was in progress.
Day by day it is seen that there is no
change in spirit in the companies. The
lltduS nave DCtll Cul Oll, Out tildl has
not changed the vitals; the blood flows
in the same old way.
The companies will continue their old
course of extravaganza and reckless use
of the policy holders money-paying it
out for agents junkets, for big commits
siOns, Relating expenses and nearly all
the evils that come from the competition
in business and in the use of the money.
The mere fact that the big companies
are in control of the multimillionaires,
who fight with each other for such con-
troll that they may have the personal use
of the policy holders funds to make
millions for themselves-thisa alone should
stir every policy holder. Ryan in control
of the Equitable, Morgan, Rockefeller
and Hartman fighting for control of one
or the other, is spectacle that ought TO
send IA shiver down the back of every
policy holder.
The men in control of the great com
panies used the policy holders money
for their own profit and for debauching
legislation and are criminally liable, yet
no attempt has been made to prosecute
them. Hendricks, the New York super
intendent, was, to say the least, derelict
to his duty, yet he continues in office.
The legislature of New York has done
nothing yet towards curing the evil that
it has so long permitted.
Is it not time for the policy holders to |
begin an effort TO control their own
property? Can they expect its honest |
administration unless they do? If the
owners of business do not run it them
selves they will soon have no business
No legislation can take the place of per-
sonal supervision.
, l shall be pleased to add to the list
already in all those who care to belong
to such an organization. In writing
give the name of the company in which
you carry policy. JOSEPH AULD,
Editor Daily News, Burlington, VT.