The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1906-10-26
WASHINGTON IS INTERESTED
Capital Represented on Insurance
Trustees Ticket.
DIR. Maurice +. Egan Says Policy
Holders should All Take Part in
Election of New Ohicers.

The coming election for thirty-six trus-
tees of the New York Mutual Life Insu.-
ance Company. which win take place on
! December IS, is exciting unusual interest
There are three tickets in the feld-the
administration ticket. headed by John w
| Auchmeless, of New York, in which thers
/ is no Washington representative; the
united committees ticket. on which 10
/ seph Darlington represents the District
/ Of Columbia. and the selected ticket
headed by Charles r. Hughes, on which
/ ticket are the names Of Herman Ridder
Of the Staats-Zeitung, Of New York; John
Wanamaker. Sir Hiram Maxim, and
James T. Phelan.
Dr.. Maurice Francis Egan, whose name
appears prominently on the list of the
Policy Holders Association. said he
hoped that either the united committed
ticket or the fusion ticket would be
eieeted-nOt because there was any doubt
as 10 the personal integrity Of the gentle
men named on the administration ticket
but because they were gentlemen who
| had no part in the campaign g educating
the policy holder in his duties and rights
They We're unimpeachabIe as to honor
and honesty, in the opinion OF the Policy
Holders Association, but they had evil
IDENTIFY been put up TO continue a tradi-
tionsl policy. which implied a certain de-
gree OF autOcTaCy on the part Of the pres
ldent Of the company. This traditional
policy has proved a danger in moral and
practice as 1t left the policy holder very
much en- the dark as 20 the investment Of
his money and TO the reasonable profits
he was entitled 20, especially under the
tOntine arrangements.
Or. Egan said that he had been induced
to add his name and efforts to the Policy
Holders Association simply for the
reason that many Of the policy holders
were gradually coming 10 the conclusion
that. in view OF public scandals life in
suTanCe was a failure. and that. as there
is no US IN fighting for rights which they
dimIy understand, withdrawal from all in
surance companies was the only expedient
thing. The spread OF the opinion would
be a ma ional misfortune. IL would lead
TO investment in al sorts Of wildcat
schemes and mushroom companies with
highly ethical placards. Another reason
was that the policy holders under a real
ly mutual system, had right 20 insist
that the directors should be representa-
lives Of the policy holders, and not a
mere honorary staff OF the president OF
the company.
There are the reasons why / have done
my best TO assist the Policy Holders As
sociation in its work of aTousiug the in
terest Of some OF my hitherto conservative
friends 10 the necessity Of electing only
such directors. whether they have fnan-
cial or social prestige or not. as will feel
that their duties lie IN protecting and
gr--
hOldeTs-men who viii not only think Of
their positions as a sacred trust. but act
as il they recognized the trust as worth
fighting for against arrogant graft Well
conducted life Insurance is one Of the
strongest safeguards we have against
anarchy. pauperism, prostitution, and all
the horrible evils that follow poverty in
a land like ours. and. therefore. I believe
that 10 Is the duty Of every citizen 20 do
his best 20 make insurance companies re-
spected and efficient by watching them 20