The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-09-13
STAND BY MUTUAL MANAGERS.
NEW COMMITTEE WILL SUPPORT
AUGMENTATION TICKET.

Merely want 70 Control the Com pany
Twenty-eisht Mutual Life policyholders,
-presenting about 5000, 600 OF insurance,
net at the W~aldorf-Astoria yesterday In
T,sponse To a call sent out by James @
colgate. head Of the banking and brokerage
Arm Of james B. Colgate 4 Co, 80 Wall
,treet, and organized themselves into a
committed to support the present admins
tration Of the Mutual in the fight that is
hsinr waked against IL. Mr.. Colgate, who
!. headiJg the movement, is the second
largest ~plicyholder in the Mutual, carrying
Al 800 90 on his life.
The Jew committee has been organized
obIe6yto oppose the international policy
hol5.t' committee. 1t will open head
~op.rttrs soon and will begin an active
csnuainn. These are the men who at
enied the meeting;
James c. Colgate Of New York, Henry
sieRel, the dry goods merchant; Henry T.
I onard. president OF the American Beet
Sugar Company, New York: DR.. E. r. l..
Gould, president Of the Thirty fourth Street
Bank; william Cow Of the advertising firm Of
Ward a Cow, New York; Charles Buckley Hub
bell. a lawyer, New York; Edward Holbrook,
president Of the Gorham Company, New
York: WilliamA. Gayle. a cotton merchant Of
Montgomery, Ala; Tilgham II. Bunch, a
grain merchant Of Little Rock, Ark, DR.. Mar
cisse Perodeau, professor in Laval University
and Legislative Councillor OF the Province
Of Quebec, Montreal; the Rev. DIR. c. G.
tiffany Of Sharon, Conn, a retired Episcopal
Archdeacon OF New York; John L.. Weaver,
real estate dealer OF Washington. D. c.;
John K. Ottley, vice-president Of the Fourth
National Bank, Atlanta, Ga; John T. Beas-
lev. president Of the United States Trust
COMPANY and vice-president OF the Terre
Haute Savings Bank; George Blackstone,
president of the Union Trust Company,
Baltimore: DR.. Edgar o. Crossman. Col
leotor Of Int ernal Revenue. Lisbon,
n. H.; the Rev. DR.. Thomas o'Hanlon,
retired pres ident Of the Pennington
Seminary, Long Branch. N j.; William
T. May er. secretary and treasurer
of the Albany Chemical Company.
Douglas Robinson, real estate broker OF
this city; DR.. William o. Thompson, presi-
dent Of the Ohio State University and OF
the Midland Mutual Life Insurance Com
pany, Columbus, Ohio; John B. Roach,
president of the Roach Shipbulding Com
pany, Chester, Pa; William T. Harrity,
former Secretary Of State OF Pennsylvania
and chairman of the Democratic national
committee IN the CIeVelanO campaign
Of 1892, Philadelphia; William ID. Kelly,
president of the Clearfield Bituminous
Coal Corporation, Philadelphia; Col. Samuel
NJ. Nicholson, president of the Nicholson
File Works, Providence, r. l.; Edwin W.
Robertson. president Of the National Loan
and Exchange Bank, Columbia, s. c.; Col.
Joseph f. Washington, planter, Of Cedar
Hill. Tenn James ". poyd, president OF
the Planters National Bank and tobacco
manufacturer, Richmond, Va: George F..
House, merchant and manufacturer, OF
Wheeling, W. Va.
Letters were sent out by Mr.. Colgate
To more than thirty p~olicyholder.
The committee will be known az the
Policyholdcrs' Protective Association OF
the Mutual Life Insurance Company. These
G. Colgate, chairman of h executive
committee; William F. Harrity, treasurer;
Charles Buckley Hubbell. Henry Siegel
acted as secretary Of the meeting.
A committee on resolutions, made up of
Mr.. Harrity, Mr.. Thompson and Mr.. Bunch,
submitted a report which set forth that
an organization known as the l%nterna-
tional Policyholders' Association. composed
largely Of persons who are not policy
holders in the Mutual, has appealed TO the
IolicyhOldeTs Of the company for their
support with the aVowed object OF obtaining
control of tie management of the company
end it, vast resources and that II Is the
svowed purpose Of said organization TO
oppose tho election Of any person nomi-
mated by tho present board of trustees, how
ever we'll qualified, and tn replace the pres
ent trustees by persons of its own selection.
u was set forth further that the Inter-
national committee in its Efforts tn obtain
control and possession Of the Mutual Life
has, through its council, made false and
nnipundad accusations against certain OF
tho present trustees and officers OF the COM
pany and has unjustifably represented
that N" present board of Trustees n the
candidates nominated by them arc com-
mitted tn the continuance of abuses found
T. exist under former officers of the COM
ranr. Boc1use Of tl"yo things the newly
organized committee resolved as follows:
That il; in tho sensc OF This meeting that.
although there have been grave abuses in the
past management Of the company. the present
executive officers and trustees are. in the
opinion Of the PoliCyholdPrs' Protective
Association Of the Mutual Life Insurance
COMPANY Of %cw York. faithful to its inter-
eS'-. ard that their administration OF its
CHAIRS has been and * efficient. economical
crf h'n"A ia! ~ the policyholders; and
lha' tho administrator ticket" OF candi-
da'es for election ~ trustees Of the Mutual
LIE Insurance Company of New York is
worthy Of the confidence and support Of the
poli"yholders of the companv and that the
true interests Of the poliCyholdrrs will he best
served by the election OF such administration
ticket and the avoidance Of a break in the
continuity Of thr management Of the COM
pany and possible or probable confusion IN
the administration Of its affairs:
That II Is cXpedient that the policyholders
or this company should associate themselves
together, with a view to the election Of the
administrator ticket. " and to make plain the
true attitude Of the policyhOlders with refer
enoe To the misleading attacks which are
being made upon the company and its present
management.
That the association recommend TO the
polcyholders of the Mutual Life lnsup. nee
Company Of New York that they vote the
ballots containing the names Of the admins
tration ticket" Of the company.
Other member will be added 10 the pro-
tectlve committee at the discretion Of the
executive committee, acting with the
president and secretary. No definit plans
have been made for the conduct of a cam-
palgn, but the executive committee was
empowered to appoint such counsel
clerks and Assistants "a nay be necessary
70 Issue an address or addresses to the
policyholders and generally take all action
mat may he necessary or proper to lend
enect TO tho objects Of the association and
TO promote the interests and welfare Of the
DOlIcy hpldarg