New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1906-09-01
NEW INSURANCE BOMB
BISHOP FILES PROTEST.
Member of Committee Wants Com
pa1ues' Tickets Endorsed.

Bishop Charles c. McCabe OF the interna-
uonal policyholders' committee. has written a
striking letter to ex-Judge Parker urging the
committee to support the administration" tick
cts of the New York Life and Mutual Life and
the unanimous election of these tickets by the
policyholders. Copies of the letter obtain
able only at the offices of President Peabody of
the Mutual Life. The letter is dated Evanston.
ILL.,, August 20"
u H. Scrughan1. the committees organization
manager was in communication with Judge
Parker at st. Paul last night Mr.. Parker saying
no such letter had reached him. Mr.. Scrug-
hams inquiries at the committees headquar-
tiers, at Mr.. Parkers law office and his Esopus
home evoked the same response
Bishop McCabe, according TO Mr.. scrugham.
entered the committee at the direct solicitation
of Seymour Eaton. who resigned the secretary
ship Of the committee recently in a letter re-
leased for publication about midnight.
PROTEST AGAINST ADDRESS.
In the letter given out at the administration
offices of the Mutual Life at sis p m. Bishop
McCabe expresses his disapproval of the COM
mittee's address sent out to policyholders. with
printed addenda, at the beginning of July Ac-
Cording to the committees executive more than
twenty committeeman approved the address
several copies having been sent at the time TO
Bishop McCabe. The Bishop protests also
against the 'intemperate and vituperative Ian
guage in which alleged opinions con-
stantly set forth by the spokesman Of the COM
Inlttee" (Samuei Untermyer, its counseD. we'll
as against the further expression IN the com
mlttees name of opinions which he is con-
WINGED unjustifed He is satisfied that it
would be impossible to nominate trustees who
could better conserve the policyholders' inter
ests than those recently named on the two adj
ministration tickets.
If the letter fell like thunderbolt into the
mttees camp. the extraordinary circumstances
of its publication caused great speculation in
insurance circles last night Soon after the pub
LEGATION of Bishop McCabes letter Mr.. Scrugham.
on behalf of the committee sent a telegram adj
dressed TO the Bishop at Evanston. intimating
that he had been mised as to the committees
work and the personnel of the present manage
ment Of the two companies and inviting him to
meet the full committee on Thursday. or the
ecutive committee at any convenient date.
BISHOP MCABEs LETTER
Bishop McCabe's letter follows:
When 1 Joined the international policyholdsrs'
committee ! understood that its purpose was to
poIicyholders of the New York Life Insurance COM
pany and the Mutual Life Insurance Company in
BILE information. / therefore surprised when
an address was sent TO the poNcynolders, with my
name appended to it. which had never been sub
mitted TO do not approve OF the address. or
OF the other pages printed with il, and purpOrting
TO be issued by the committee. / quite sure
that the members of the committee who may have
personally signed the address cannot possibly ap-
prove the form IN which it has been sent out, or
the Incorporate and vituperative language In which
alleged opinions constantly set forth by the
spokesman of the committee.
and protest against the further expression in
the name OF the committee OF opinions and accusa-
tons with which 1 have no sympathy. and which l
convinced have sufficient justification in fact
The administration tickets of the two companies
include many gentlemen known to me, and many
others of whom have obtained much information
] satisfied that ii is not possible to nominate
trustees who under all the existing circumstances
could better conserve the great interests of the
policyholdeTs than those recently named the
two administration tickets. You are the chairman;
of a subcommittee charged with the duty Of form
ing g ticket, and, so far my voice and vote ara
10 be considered. l urgently recommend the adop-
ton by your committee OF the administration tickets
of both companies, and their unanimous election
by the policyholders. After long and careful con-
sideration, I thoroughly satisfied that the pres
ent administrations OF both companies now Eff
fecting great economies and reforms and these
institutions, purged as by fire, are now in posi-
ton to afford the protection Of life insurance IN
better form. and on better terms than any known
In the past. CHARLES c. MCABE.
Bishop OF the Methodist Episcopal Church.