The Washington herald., 1906-11-01
Light from President Peabody

The insurance administration and its
supporters in the election contest now
pending seem-at least for election pur-
poses-to attach great importance to the
necessity of elecung trustees who are al
ready possessed of knowledge and ex-
perience' in the conduct of the business of
the companies. OF course, this necessity is
greatest in the case of the administra-
tive officers. and especially in the presi-
dent. Ascertainmeut OF the qualifications
in this respect Of President Peabody, Of
the Mutual Life. seems 10 have been at
tempted by the insurance commissioner
OF Kentucky in his examination, on Oc.o-
beT IS, before that officer in respect to
the conduct Of his administration in dis
charging all general agents who would
not undertake 10 work with the policy
holders for the election OF its ticket.
There is no president OF a bank or other
corporation ia Washington, and probably
none in the world. who does not know
approximately the average earnings OF in
come OF his company Mr. Peabody. upon
being asked the income Of the Mutual
Life, answered that he did not know
and on being asked if It was as much as
eighty millions, declared that he did not
think it could be so much as that: where
upon, being confronted with q recent re-
port, bearing his signature and purporting
10 have been made by him, he was forced
Ia admit that it's income is more than
eighty millions. Being asked the name Of
his Washington manager, our well-known
feliow-citizen. Thomas s. Morgan. ir..
who has for many years been the efficient
and popular manager Of the Mutual for
ilis district and adjacent territory. he
was unable TO state it, and, on being
given Mr.. Morgans name, was unable 20
remember OF locate him in any way until.
finally, upon being interFogated on that
subject, he admitted recalling Mr. Nor
gan's name in connection with some
travelling expenses which he. Mr.. Pea
body, paid personally" because he was
travelling on some business that was not
considered strictly the business of the
company. namely. the business of solic-
ittEg support for the administration
ticket in various States of the Union
At the same time. 1Ir. Peabody admit
ted that although Mr. Morgan's travel
ing expenses while engaged in this busi-
salary as manager was paid by the com
pany. Asked how many managers of the
company drew salaries from il and were
engaged IN the business OF soliciting
votes, he answered that there We're ninety
salaried managers i'm all: that five who
lad refused 10 support the administration
ticket had been dismissed for that cause
except one. who had resigned without
waiting dismissal, and that the other
oighty-five had been required by him 10
support the administration ticket, by
which he meant that each manager and
agent 'by every outward action and con-
duct should be a supporter Of the admin
istration.' and that he hopes they are
all distributing ballots.
On being asked by the insurance COM
missioner at whose expense the ballots
were thus being sent out he at first an
swered;
With all due respect. I do not see how that con-
oeTns YOU u is not done at the expense Of the
company. ! gant 10 make protest against being
asked Questions that don't concern this investga-
ton before you, Mr.. Commissioner"
On being informed by the commissioner
that if he did not answer It would affect
his company, he answered: Il am happy
10 tell you il was sent out at my ex-
pense;' but, on being further cross-exam-
ined as 70 whether ne was not to be re-
imbursed these expenses. by way OF
salary or otherwise. he finally comedies.
II do not say that I do not hope TO be
reimbursed, but / expect to pay my
share" Upon further cross-examination
as to the manner In which he was pay
ing the expenses Of the campaign, after
his repeated statements that they were
paid by him personally. he explained that
The expenses were paid by being charged
against me-" and that they would not
appear in the books of the Mutual
Light IS thrown upon the extent Of the
expenses thus paid by the evidence, OBJ
tanned from the employees themselves.
that persons not otherwise connected
with the Mutual are paid $50 a week in
Kentucky 10 make personal canvass
sn-ong its policy holders for ballots. If