The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1906-08-31
A WARNING TO
POLICY HOLDERS
WHAT THE SUCCESS OF THE IN
sURANcE cRAFTERs WOULD
MEAN TO THE PUBLIC.

(From the New York American, Aug. g.
The pending struggle between life
insurance policy holders and life in
surance grafters will be the fight of
the plain, honest citizen against the
"high finaneiers" who believe that all
other men exist for them to plumber
On the one hand are the policy hold
ers of the Mutual Life and the New
York Life, represented by the Inter-
national Policy Holders Committee.
On the other are ]. P. Morgan & Com
pany, who manage" the New York
Life, and the precious Standard Oil
crowd that is conducting the affairs
of the Mutual, through Peabody, its
dummy president
| If the policy holders shall succeed
in coming into control of their own
property, they will be able to distrib-
ute among themselves the enormous
profits that hitherto have been side
| tracked into the Golfers of Rockefeller,
Rogers and Morgan. These vast
funds will be removed from the Jug
Cling of Wall street and diverted to
Legitimate channels of investment, and
will no longer be available for rigging
the stock market or making tight
money" easy money" for the stock
gamblers.
Notice will be served on the pirates
of thigh finance" who have long been
using 100000. 900 of money as if it were
their own, that, scattered and helpless
though the owners of the property
may have seemed, have at last found
a way to stand together to rescue their
own from the hands of the men who
were employing 1t to buy elections,
corrupt political parties and. inciden-
italy, line their own pockets.
And many exceedingly high finan-
ciers who have thus far escaped de-
lection will find themselves in grave
danger of being suitably and unpleas-
antly punished.
The last report Of the Fowler white
washing committee the members of
which are now candidates for re-elec-
ton, is an example of the lengths to
which these men are ready to go, re-
Lying on what they suppose to be the
apathy of the policy holders.
In the face of the Armstrong report,
every finding against Perkins and his
associates is sought to be defended.
If Perkins dummies of the Fowler
committee are reelected, 1t is easy to
guess what will become of the suits
that long ago ought to have been
brought against them and Perkins on
account of the 100000 Mercantile Ma
rine transaction, and against Perkins
and his finance committee because Of
the $4,000 Republican campaign fund
contribution, because Of the SAq,OOO
bodily taken from the treasury and
said to be turned over to "Nylic," and
because of the New Orleans Traction
juggle.
Then there are the "joint account
transactions, in which the New YORK
Life supplied the capital and Perkins
and his friends furnished the exper-
fence and captured profits without tax
ing the risks. Such men as Perkins
has selected to manage the New York
Life are hardly likely to favo. any 1u-
dicial inquiries into that deal, or airy
Of the innumerable shady operations,
some of which have been exposed, but
many of which still lie hidden, and will
remain hidden unless clean maua0e-
ment shall be elected.
| NOT A SUIT HAS YET BEE NBE-
IGUN BY EITHER COMPANY
| AGAINST THE REAL CULPRITS,
NONE WILL EVER BE BEGUN I'm
TIL, THE POLICY HOLDERS GET
! AT THE BOOKS.
The grafters who are now in control
of these two great companies, aud who
as yet have access to their funds are
not fighting for more money, GEAR as Ihat
lis to their souls. They see in tie snits
that have been brought by the Jolicy
holders a powerful organized effort
to find out what has really been going
onto bring to light the jugglery, the
window dressing" the plunderlng
and all other transactions whereby a
few men have helped themselves TO
money that belonged to other men
with such discoveries. now happi-
" possible, will come exposure, and
with exposure will come punishment
No wonder the Standard OF men,
Morgan. Perkins and the rest are
against them. They knew that for the
| first time they are in real danger, and
they are in an excellent position to
appreciate the gravity OF that danger.