The Cairo bulletin., 1906-01-16
WILL JOLT LIFE
INSURANCE BUGS
DISTRICT ATTORNEY JEROME
WILL PROSECUTE TO THE
BITTER END
KEEPS PLANS HIDDEN
For Reason That They May BE Ger
tain of Success. ss.-Armstrong
Committee Mad at Pub.
lie Printer.

New York, Jan. 15.-lt can be au-
thoratively stated that District Attor.
ney jerome will prosecute those Off
GERS of the big insurance companies
who have violated the criminal law
No public move will be made by the
distric attorney for several days,
probably not until the goth Of the
present month There are reasons
which cannot be disclosed VIII ch pre-
vent him from taking the public into
his confidence at the present time.
These reasons invole matters which
have an important bearing upon the
success of any of the prosecutions he
may begin.
The district attorney, it can be
stated, feels keenly the criticisms
which have been leVeiied against him
for his seeming inactivity in life in
surance matters. Mr.. jerome could
not explain the cause fer delay in
prosecuting without ieopardizing the
success of the undertakings he has in
view.
When asked yesterday why he had
made no pubic move in the seventy.
two DAYS since he made mis- promise
10 prosecute guilty insurance officials
he declined to discuss the subject II
Is known, however, that he has been
preparing for the investigation by
special grand jury which may be
sworn in next month A special grand
jury room has been prepared for their
use.
Committee Dilieent, He Says.
Emory McClintock. vice-president Of
the Mutual ife Insurance company,
its chief actuary and acting general
manager, vigorously defended the
Truesdale Investigating committee
which has been criticized for failure
10 make public some results Of its
"house-cleaning Mr.. MCCl' ntock
said:
THE Truasdale committee is eX
cecIingly diligent It holds meetings
almost daily and Is continually max
ing specific recommendation to the
officers of the company. For instance
it recommends that the services of
this man or that man can easily be
dispensed with, and that man is dis
missed with a consequent saving TO
the company.
Mr. Truesdale the chairman of the
investigator committee, is also a mem
Der of the agency committee. and de-
votes large part OF his time to the
affairs 1of thegcOmpaay. This commit
Tee is also putting many changes into
cffect>W do not feel that there is any
just reason for publicity at this time.
"The agitation as a result of the
work of the Armstrong committee will
work to the ,very great good of the
policy holder What is true Of the
Mutual Life, Is true | know of the
other companies. The other day a
proposition was made to me which
called for the expenditure Of a con
siderable sum of mvaey. In the old
( days this proposition would have gone
through without question. but as a re-.
snIt,of the new order of things, It was
4. 50 mpdifed that its expense was re
duced one-half | might add there
was never a time when the trustees
cf the Mutual took such close per
sonaF interest in the affairs OF tha
company"
Demand to Change Policies.
Owing to the disappointing. results
af deferred dividend policies. many
holders are beseigng the Mutual. New
York and Equitable companies for per.
mission TO change to annual dividend
er other forms of policies Permission
is always refused Mr.. McClintock. on
behalf of the Mutual explained it in
this way: g.
= In the deferred. dividend or toniine
class each individual holder bears
relation To the others, the thory Of
tontine insurance being that the sur
SIvors benefit Through the money lost
by these who allow their policies 10
lapse or who die before their policies
mature. To let one out would be an
injustice 70 the others In the same
class
:. IN other words tonune insurance is
practically blind poll proposition. !
with the company as stakeholder. The !
survivors are the winners in that they
get a share of the losses of the Others. |
There l. no satisfactory or profitable |
way. il was declared for the holder of
a deferred dividend policy to get out
of his contract
Gage +. Tarbell Of the Equitable
Life. when seen gave an explanation |
almost identical with that Of Mr.. Nc
Clintock.
Members of The Armstrong commit |
tee are angry over the failure of the
state printer to deliver printed sets Of
the testimony taken. So far only one
volume has been delivered. The full
set comprises ten volumes. The work
s. being done By the Wynkoop- Hallen-
beek-Crawford company of this city.
CONCLUDED On Fourth Fsgs1