New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-03-19
WARNS Ny. LIFE BOARD
UNTERMYER PROTESTS.
Wants Trustees Held Responsible
for PrOry Expenses.

pOucyhOlderS committee. which is being formed
by stuyvesant Fish. The officials and trustees
are warned that the committee viii hold them
personally responsible for any of the companys
money spent in such campaign. tt is estimated
that the cost OF postage alone so far has been
$4,000 and that OF printing and stationery
much more
The protest was in the form OF a letter from
Samuel Untermyer to Alexander E orr. presi-
dent Of the New York Life. which was delivered
by messenger Saturday night at MI OTIS home.
No. 102 Remsen street. Brooklyn. No letter was
sent to President Peabody Of the Mutual Life
Insurance Company. which company IS also So
iciting proxies through its agency force It
was said that the MutuaTs election was not
scheduled TO take place until next June and that
decided action would probably be taken by the
committee later on.
Mr.. Untermyer starts on Tuesday for Colum-
bus. Ohio. where he will address the Ohio House
Committee on Insurance. which IS now consider
ing reform legislation based on recommenda-
tiOns of the Armstrong committee The invita-
tion came from Earl Stewart. who IS the Arm
strong OF Ohio" The companies will be heard at
hearing on Tuesday. They are making much
more extended fight in Ohio than they did Gt
Albany last week On Wednesday night Mr..
Untermyer and others viii speak in favor OF the
reform bills. It is likely that he will go from.
Cleveland to Chicago to attend a meeting pre-
sided over by Governor Johnson OF Minnesota
looking to uniform legislation on Insurance
matters.
Andrew Hamilton is coming 10 this city early,
in the week with other chapters OF his dis
closures. He viii probably give details OF
charges against William 3. HornblOwer, against
whom he has a bitter grudge. It was learned
last night that he purposed making some men
tion Of Julien T. Davies. the general solicitor OF
the Mutual Life. though in what particular,
could not be learned. Just what method the
Judge" Will use to place his additional state
ments before the public has not been decided
He purposes furnishing proof OF his unsupported
statements at Albany last Friday.
MR.. UNTERMYER's LETTER.
The letter which NIr. Unterrnyer sent to Presi.
dent Orr was called forth by the report that in
four months campaign the company has OBJ
tanned 100000 proxies. The Fish committee has
so far received between 10000 and $4,000 proxies.
The letter follows:
As counsel for the poIcyhoIders and committee
that are now representing upward OF fifty thou
sand poHcyholders IN your company. although no
structed TO protest in their behalf against the ex-
your ofacers OF the agency force Of the company.
pro2es for {b Tseso52 l52 Is s SeTySe - or soliciting
ea{es as directors at enormous expense to ths
You are well aware that your tenure OF oface and
@ s6t OF your associates are about to be terminated
@ ana a new eeclon oTdered by the enactment OF the
Pe4dng IeglsIatl0n You know that until this legis-
sDonsibis for their Is1rIess y2,si-ft ~ 4tI + a.
n v-as -Iria- y-o7-- ~ IN Us repel
or n3ideTs Tor inspection Of the lists. so that
and be able 70 communicate with them 70 tho
selection OF trustees. recently denied When
administration that the funds OF the polcyholders
suited in the extraordinary decision that denied
10 them access to the lists.
It IS the result OF that litigation, conducted for
his expense; which emphasizes the necessity for the
-rr-
0r5,rbt vro1 W. VISION ihaJ Inese lists
am informed that within tIe last few 5a,-z vor,
sent out from your head Oflce TO your entirss
agency Iorce tnroughout the country telegTams,
urging them to collect proxies I have before me-,
one OF a number Of printed letters and circulars
~ I91 & ron @ your hee once sisned by the cashier
Droxy addressed 70 "1C R oI IoTn ot
raphy OF each Of the directors and officers whom
is to Messrs John Cafin Osoar n sI5lI Inns Proxy o
Clarence H. Mackay. OF whom Biographies are sIsS.
inclosed printed at the expense OF the Poncyhold-'
Your interest as a policyhOlder cannot better
form and returning it as suggested
SAYS POSTAGE WOULD COST zoooo.
II these documents have been sent 10 every pol-
%ighoqe5 % 1 ne f cost & TO o tas m company on Postag
rif2, sIcb ityyrs S lt S en- more HoW you JUS
These g5 documents are coming 70 Us In great nu
quest that our committee take soma action 10 pre-
vent your thus wasting the money OF the polfcyr-.
Office.
I have also had placed in my hands circular let.
ters signed by your v1ce-president, Mr.. BUckner,
and sent broadcast to your agents soma month";
ago. before the pending bills were introdIced s1f5
Tor trustees would be held April IL auOr-
a cre1iarfzed 6nS f9nPy Gess{5 Sae sEenSy i force
TO them 10 gather proxies iE favor os the pressns
management In these circulars schemes and Com
binations are suggested and tie agents sra toIE
now many proxies are expected from each OF them
BY the management
I told that. as a result OF this naisrsa Of ~.
time OF the hlgh-priced officials OF the Company
ana s.a OF Lne agency I9Tce you have within the last
agents and otherwise, from policyhoders Who srs
thousand proxies OF which approyirls ai,- s
thousand come from your home Office agaDrs
about fifteen thousand from the Chfcago br5SCbSs,
and about fifteen thousand from v0Tr SC-eioSS
agencies t3rough your Paris ONCE.
Dp9n pubhcaton OF the Armstrong report YOU
issued inJunctions 70 STOP this campaign we
supposed that the end OF a. ard 7ba- -
would await the result OF the recommendations of
You have now resumed the campaign apparenr1v
holders while they are i'm this 5efencSIss sg poiey-
owing to the short time Intervening between 80
and April II. and 90 your refusal 20 allow men, ~
inspect the list OF pClicyhOlders.
IL Is generally understood that Won and ,-,-,-
associates are bending an your EFFORTS ana i-4,ss.
latinE the present board Of office Tho ar-r-5.
OF your representative at the Ges~i7o bs -y -Slo
legislative coulr7irree and ne ne
campaign 10 collect proxies confirm Thar belief
policy holders money for such manifestIv ir7r,-s.
purposes.
The poucyhoIders are stu hoping and ,xr,,..r-
latest move on your part. by postpouinE the als,-
But, I'm order that there shall Do no room for
misunderstanding on the subject you ara ha-sbtr
notified that YOU and every offcar ana 5f-a--,- -
vOur cOulpauv who he rssro-s-f1s 80 - OF
campaign win be held personally responsf6Is Us
r n ID and H.H~