The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-20
ELKllVS, A RAILROAD
SENATOR, AROUSED TO
REPLY TO CUlNlNIlNS
INSURANCE FREE;
PRICE, A PROXY
Lawson Charges big Three
with Trading Life Policies
for Votes.
Special to The Journal.

Special to The Journal.
New York. March 2O.--Thoroly
scared is the "systcm,' says Thomas
w. Lawson in Everybody's Magazine
for April. The heads of the system, he
says, sec the imminent danger that their
access to reservoir of ready money is
in, and that as this threatens their con-
troll of the stock market and other.
financial matters they must at all haz-
ards keep control of the big Three. -
So frantic are the heads Of the system
to keep tn ewhip hand, adds Mr.. Lawson,
that they, or the men they now have i'll
office in the big insurance companies,
are actually offering insurance policies
in exchange for the proxies Of those
who are willing to accept the offer.
Mr.. Lawson backs up this startling
charge with the fac-simile Of such
policy and with the affidavit of the
man to whom it was made out. It
seems, however, that as insurance such
policies are absolutely worthless, for in
return for them. the insured not only
gives a proxy but receipt by which he
agrees to return the policy upon demand
of the company.
Mr.. Lawson further reproduces let
ter from q man purporting to be a
confidential man for one Of the big
| companies, in which the writer says:
"For three months I have done nothing
but chase proxies.
More Proxies Received.
The placing Of the thousands of prox-
les gathered by Mr.. Lawson in the
hands Of a committee of governors, the
i Boston man says, was followed by a
fresh influx Of proxies. The fact that
he had put the proxies out Of his hands,
i showing that he was seeking to play no
;; game of his own, seemed to inspire new
! confidence in this plan among policy
! holders.
! Proposed Law Favored.
! Mr. Lawson does not oppose the plan
; suggested in the report of the Arm
! strong committee to the New York leg
| islature, that a law be passed postpon-
ing the annual elections of the Mutual
! Life and the New York Life until
Noy. IS and multiplying all proxies
! knock out, of course, all of Mr.. Law
son s proxies, including those placed
!, in the hands OF, the three governors
Including Governor johnson Of Mime
sofa. But he argues that the new law
| would simplify the task of his commit
tee OF governors. He saws that under
it ''all they will have to do is to nom
mate. board Of trustees of unaues
toned honesty and fearlessness, whose
names must be sent by the company tc
every policy holder, along with those
Of the nominees of the administra
ton. BY another provision Of the pro
posed laW,' he continues, "all lists
OF policyholders must be made public
Accordingly it will be possible for ne
to provide that. at the same time thai
policyholders receive the rival lists OF
nominees, they shall have from my com
mittee, at our expense, a fair state
ment of the reasons for the selection
of each Of our trustees, making clea1
what their election will accomplish. -
That gives, in a word, Mr.. Lawson =
plan Of campaign in case the law il
passed by the New York legislature
In case the plan succeeds, Mr.. Lawson
says the world will have notice of TIN
beginning Of the end Of the System,