Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1906-02-27
f rom Lawson on the Life
Insurance Tang|e.
Writes to Armstrong Committee,
Governors and Po|icyho|ders.
Commsnds Investigation But Says There
Is Much More to Do.

municatiOnS issued tonight, Thomas w.
Lawson of this city, who for several
months has been active in securing
proxies for pOlicyholders in the great
life insurance companies, stated that
he is ready and willing to do all in his
power to aid in the passage of the laws
recommended by the Armstrong inves-
tigating committee. Mr.. Lawson issu-
ed three letters, one addressed to the
Armstrong investigating committee,
another to the so-called committee OF
governors to whom he has turned over
all insurance proxies that he has thus
far secured, and third to the policy
holders themselves.
Mr.. Lawson's statement regarding
the proxies he has secured has been
awaited with interest, in view of the
fact that one of the laws recommended
by tfe Armstrong committee would
| inValidate each and every one of the
proxies already secured.
In communication to the Armstrong
| investigating committee Mr.. Lawson
says in part:
'On behalf of scores of thousands of
pOlicyholders of the New York and Mu-
tIal life insurance companies, I would
respectfully submit: At an expense of
hundreds of thousands of dollars I
have collected sufficient proxies from
policyholders to give me Cup to the
present tine) control at the coming
election of both the New York and Mu-
| tual Companies. 1 have turned these
| over to committee composed of gov
nf Sfa nd
| tative public men. My reason for col
Letting such proxies: had reason to
| believe the policyholders of these two
companies have been plundered of from
| ll5,000000 to s250,CO0.000 which can be
| recovered provided these companies are
placed in the hands of honest, fearless
men. I believe that if these companies
are placed in the hands of such men
some of the richest and best known
men in the country who have syste-
matically plundered the people for a
| quarter of century past will be sent
to states prison for long terms.
Il also believe that, in the trial for
the recovery of the moneys looted
from these companies and the punish
merit of the lOoters. evidence will be
brought out which will show how and
by whom the people have been robbed
of over a billion dollars during the last
25 years, through the instrumentality
Of banks. trust companies. railroads
and other large corporations"
Mr.. Lawson informs the investigating
committee that he has closely followed
it's entire work.
''While I know it has accomplished
| much" continues Mr.. Lawson, II also
know from personal knowledge it has not
exposed or touched upon single founda-
ton evil or exposed or even placed upon
the witness stand single one of the
head criminals responsible for the evil.
From personal knowledge I know the
rolicyholders cannot come into their own
or be insured against the total destruc-
ton of their companies. and the loss, in
whole or in part, of the funds which
have in the past years been grated from
! them. unless their companies arc taken
out Of the hands of the men who hay,.
either looted them or stood by while they
were being looted
In concluding his communication to the
investigating committee. Mr.. Lawson
says:
IF your committee will ask the Lcgis-
lature to enact the law which you have
said should be enacted to wit. that all
proxies now in existence. by whatsoever
collected or held. shall be made void:
| that the annual election shall take place
only after sufficient time has elapsed to
allow the committee to send to all policy
holders as many sets of names for direc.
tors and trustees as shall be nominate
by any 100 policyholders together with a
set nominated by the companies present
| trustees. and that such nominations shall
be treated fairly and alike and that there
shall be open to all a list Of polcyholders'
names and addresses, will not only adj
wise the governors committee to consent
to voiding all proxies collected by me.
but l will do all in my power to assist
in the passage of the laws YOU have rec
commended and advise the governors COM
mittee to do the same
In letter to the governors committee
Mr. Lawson advises it to assure the New
York Legislature that the committee APP
proves Of the new election law proposed
by the Armstrong committee He urges
the governors committee to do all in its
power to assist in the passage of the
law.
In a third communication. addressed to
the policyholders of the New York and
Mutual Life Cos. who have sent him their
proxies, Mr.. Lawson explained the situa-
ton and urged them to do all in their
power to aid in the passage Of the law in
regard to the conduct of the annual cleo
ton.
Mr.. Lawson also criticizes the present
management Of the companies named. He
charges that policies to new people are
being issued without the payment of any,
thing of value to the companies other
than the proxies. Mr.. Lawson also
speaks of "a secret contract in use by the
companies which the Armstrong commit