The Birmingham age-herald., 1906-07-10
POLICY HOLDERS
 CALLED TO ARMS
(contlnued from First Pase)


 every section as far as possible, but under the law one-half of each board must be residents of the state of New York.
 When from the names we ask you to submit for consideration we have nom- inated candidates for directors, we shall have discharged the responsibility resting upon us. The election of these candidates will be entirely In your hands. The di- rectors now in power have nominated or will nominate for each company what is to be known as the administrative ticket, using machinery which they now control through the medium of their property to defeat your candidates and elect them selves or their nominees.
 Disregard Administration Influence.
 "As your representative in this cam paign, we advise you to disregard the in- fluence which will be brought to bear upon you by the local paid agents, and to exercise in this, as in any other cleo ton, your own independent and individual Judgment in the choice of the men who shall from this time forward act as the trustee for your insurance savings.
 "If you, as a policyholder, will intelli- gently exercise this personal choice and do what you can to instruct your immedi- ate friends who are policyholders so that they shall not be mislead by the efforts of paid agents. the objects of this cam paign in your interests is assured.
 "It is not the purpose of this body to disturb the actual working organl- cations of these two companies except so far as it may be necessary to correct the abuses which are the direct result of mismanagement at the executive cen ters.
 'It will be no part of the duty of this committee further to investigate the wrongs and abuses, some of which have been exposed by the recent legislative Investigation and by the inquisition of the grand jury. which is still under way. Within the brief time which the Arm strong committee was able to devote to that phase of their Investigations 1t was impossible for them to touch upon the administration of the subsidiary banks and trust companies. or to go beyond the mere surface of the abuses which were uncovered
 Suits Have Been Begun.
 Certain suits have been begun to re- cover moneys claimed to have been mis- appropriated wasted or lost, and 1t is charged that other suits should be com- menced. The further investigation, the prosecution of such suits as have been begun and the commencement of further suits if any, for restitution will devolve
 
 ters will constitute no part of the duty of this committed It will rest with you to determine whether such investigations and efforts to secure restitution can be prosecuted wtli~greater freedom and jus tice to you by the directors under whose administrations the acts were perpe- trated and suffered. or directors named by them or by new management which has had no connection with. and is under no obligations to the old onlcers.
 ''The expense of this campaign must be borne by the poiicyholders. It costs over $5O.OOO to place a circular in the hands of all policyholders.
 "A committee on finance will have charge of all receipts and expenditures and will see that all contributions re- ceived from policyholders are expended in their interest. At the completion of the combination a detailed expense re- port will be rendered.
 Under these conditions and in the full belief that this movement is one of the most important that has ever been insti- tuted In this country your committee feels free to urge you as a policyholder to forward to the secretary such voluntary contribution (from S1 upwardD as you may consider 1t your privilege to make. Form Permanent Organization.
 Should the policyholder give expres sion to such a desire this committee vii endeavor to form a permanent policy holders organization which shall have the following among its objects; "A-To maintain a vigilant supervision | of the conduct of the business of the companies. and to make an Independent