The Washington herald., 1906-12-19

New York, Dec. lS.-The election for
trustees in the two largest mutual life
insurance companies in the world. the
New York and Mutual. is over and the
indications are that the administrations
tickets have been victorious over those
OF the policy holders associations.
The claims made by the officials of the
two companies are very extravagant. il
being claimed in the New York Life that
the administration has a plurality of over
10000, while the Mutual officials say
they have a margin of over 15o,0oo.
The men in the international policy
holders committee. which led the policy
holders. fight against the nominees Of the
two companies, claim victory and put
forward figures that are deserving of con-
sideTatiOn. The actual vote will not be
known for some time, however. and the
figuring that was done tonight is purely
guesswork on all sides. The most care
ful sort of figuring tonight by both sides
shows that about 10000 votes and proxies
were cast in the New York Lies cleo
ton. 1t is known absolutely mat $4,000
Of these are votes that We're sent to the
home office of the company This. in
cidentally, is the uncertain vote
The officials of the company assert that
from 50 to 80 per cent OF these are in
favor Of the administration ticket. The
international policy holders committee
says that on good information, obtained
by means Of postal card canvass of
votes sent direct TO the company. they
are sure Of at least 20 per cent. Of this
vote. and if they are right the policy
holders have won by a vote of between
7.00J and 5000
Committee Has Charged Fraud.
The International committee people
have made claims of fraudulent and
forged proxies against the management
of both companies. and Samuel Inter
myer has declared many times that he
will take the matter to the courts. Mr..
Untermyer was at the New York Life
polling place at daylight to-day. and cbaI-
lenged and protested many proxies.
UuteTmyer's law partner. Louis Marshall |
Wss on hand at the Mutual and did like /
wise.
Another contention made by the inter- |
national people is that when the coun; is |
taken It will be found that many proxies /
and ballots IN favor of both companies !
have been duplicated. The committee
claims TO have information from many
sections OF the country TO suDstantiate
this contention
There was great rejoicing at the offices
of the companies tonight. and all hands
identified with the administrations were
sure that they won easily. No votes were /
counted to-day.
So far as the Mutual Life Is concerned /
their officials decline to talk but the |
management of the New York Life. gloat- /
ing in its success, issued this statement !
tonight:
New York Life's Claim.
we claim the election Of the entire /
administration ticket. The majority poll 1
ed for twenty-three of the twenty-four /
men on the ticket will reach one hundred /
thousand and upward.
Mr.. Dommerich, who was nominated /
only a week ago, to succeed Ewald 1
Fleitmann, deceased, received the vote 4
cast by proxy only. For him something |
over 105,000 votes were cast.
In addition. we turned over to the in /
spectOrs l92, 900 ballots sent by policy 1
holders direct to the home office for the /
administration ticket.
votes cast including those cast by the /
administration proxy committee. The /
total vote cast IS probably in excess Of /
10000. and it will be some time before 1
we will be in position to give any /
figures"
Grand Jury at Work.
But even while the management of the /
companies were perpetuating themselves
in power the New York County grand |
jury began an investigation Of conditions
in the New York Life. after the sentenc-
ing yesterday TO two years in Sing Sing
Of George Burnham, jr, vice president Of
the Mutual Reserve Life Company. and
it was promised that when it concludes
its labors it viii devote its time to the
Mutual Life Insurance Company
All of the testimony brought out before
the Armstrong investigating committee is
to be passed on by the grand jury, and It
is generally admitted that the result viii
be the indictment Of both officials and
former officials OF both companies. Among
the witnesses called to-day were Edmund /
D. Randolph, treasurer, and F. II. Ship
man, assistant treasurer Of the New York
Life. and Alexander Webb, jr., vice pres
ident OF the New York Trust Company
A number of clerks were also called.
John c. Mccall. secretary of the New
York Life. said Mr. Jerome, who began
an investigation of the companies af-
fairs six months ago. recently got 80
books. He said the presentation Of the
matter TO the grand jury at this time is
doubtless the result Of his examination
Of the books.
Untermyer WIZ Say Nothing.
Samuel Untermyer, counsel of the In
ternatioRal Policy Holders Association.
when asked about the investigation, said:
i could tell very interesting story. but
It would not be proper for me to do so
at this time"
Hmrr