The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1906-07-25
Colonel Shook Says it is Now
Now Up TO PoIicyhdIdsfs
MEN HAVE BETRAYED TRUST
Pclieyholders of Mutual Are Entitled
to Whole Board OF Trustees and
Should Be Satisfied With
Nothing Less.

New York, July 24-Col. A. NJ Shook
of Nashville, Tenn, member of the
international policyholders' committee.
who was placed on the administration
ticket as trustee of the Mutual Life In
sursnce company without his permission.
was in this city today and conferred with
the counsel for the policyholders' COM
inittee about the placing of his name on
that ticket. Afterward Colonel Shook said
concerning the Mutual Life Insurance
company:
The revelations during the past year
as to fragrant extravaganza in the con-
duet of the business, gross mismanage-
ment. diversion of the sacred trust funds
for unauthorized purposes, and wanton
disregard for the interests of policyholders
constitute an indictment not only against
the officers who were directly responsible.
but against the trustees TO whom the
po,icyholders had right to look for pro-
lection The throwing overheard of a few
officers who were caught and pillored by
public opinion for msdeeds is simply
morsel thrown to the whole body of out
ragged and injured policyholders.
Are Seeking to Dominate.
I'VE believe the power which has been
in control Of the affairs of TINS company
and which put in office the men who,
when caught at It and then deposed. are
seeking to dominate. It was this power
we are constrained to conclude which
caused men OF conscience to retire from
the board Of trustees months ago, when
they found themselves IN a minority in
advocating measures to the highest and
best interests Of policyholders. We can
not see It otherwise than that If we were
elected on the ticket proposed by the ad-
mlnistration we would find ourselves in a
hopeless minority and unable to do more
than raise a voice Of protest to policies
disregardfll of their interests.
Entitled to Whole Board.
THE policyholders who constitute the
real company and not the management
are entitled not to minority who will
look solely and alone to their interests. not
to a majority, but an entire board OF trus-
tees who will be thus actuated. We cam
not get away from the conviction that
there should be an entire change Of con-
troll of this company from the elements
heretofore In control TO tne pOHCynoieeIs
themselves 1t is neither logical nor safe
to trust a second time those who have
once been false.
"lf they should succeed at this time
in deluding the policyholders to again
blindy trust them, they could then pro-
ceed to greater lengths than ever in the
consciousness that by the ocea sional OFFER
ing of a sacrifice and by specious prom
ises they could at any time avert an up
rising of policyholders and with the fur
ther satisfying thought that after this
only a portion of the trustees would be
elected during any one year, and If they
can control the election this time there
will be no need to fear.
Up to the PoIleyhofders.
ut is, therefore. up TO the polcyholders
now or never to take control OF their
property and have It run in their own
control
THE present management Of the Mus
tual Life Insurance company is the only
power In America that undertakes TO de-
clare martial law and suspend the writ
Of habeas corpus in time of peace. Tho
conscript act that It is promulgating and
attempting to force Is so broad in Its pro-
visions that men like General Tracy and
myself. who are over 60 years OF age, are
in effect being forced on its ticket. It
does not limit it's right of conscripting
citizens to New York but goes to 1lli-
nois Delaware and Tennessee to recruit
It's forces"