New-York tribune., 1906-08-07
UNTERMYER 0BDURATE.
WTEL NOT TAKE OFFICE
Says His Health Is Poor-Insur-
Gnce Investigations Lag.

District Attorney Jerome yesterday refused TO
,alk about his plans for continuing the life nsur
ance investigation which was started By a special
grand jury several weeks ago. Il is not exnected
:. the Criminal Courts Building that another oran6
fury will take up the life insurance problem until
October
Although several indictments of insurance oat,als
have resulted from the Investigations directed by
the District Attorney. there no telling when any
Of the indicted officials be brought to trial IL
= expected that the Bunhams and Vice-President
FIiridge Of the Mutual Reserve indicted on
charges Of forgery and larceny will be among the
first 10 juries. but. il is said they will make
determined efforts TO delay the trials beyond the
September term of the criminal branch Of the
supreme Court. They candidates for reelection
ss Mutual Reserve trustees. and IL they succeed
Al retaining control of the company. their friends
say they viii be in a better position TO meet the
charges against them in court than. they would il
they we're of power
samuel Cnfermyer. chief counsel for the Inter-
national Policyholders Committee, sent letter to
de executive committee from his country home
Sraystone. Yonkers. Saturday. saying that
his health poor that his physician had
ordered him TO take complete rest for a few days
7, Is therefore probable that Mr. Untermyer may
not be able to attend the meeting OF the committee
.bis week al which names for policyholders'
tickets Of the Mutual and New York Life 10
be considered.
In his letter. addressed TO Alton B. Parker. Mr..
TTnterTnyer declares that he Will not permit the
use Of his name for trustee in either company. His
letter which given the press yesterday after
noon is in part follows:
Members of the committee and polcyholders are,
as YOU know. insisting that shall permit the use
boa.ds Of both companies. in the event OF the sue
cess the policyholders in securing the control Of
their own property. They refer TO Mr; Tafts name
On the MutpsIs ticket, and M Miiburn on the
ments, ana they argue that because OF my 2cuVity
in the movement and my, familiarity with the sub
iect such course will be helpful 10 the COM
DO not agree with them. and not willing to
either company. Under no circumstances would /
hereafter accept an oflce, position oenent or
emolument in any form growing out OK this move
,acetan uT6 lie work of REORGANIZATION they will
~ ~iearfIIIIv ri,en as they are now being con-
tributed upon the distinct condition that l viii
accept 10 office; compensation or reward now or
hereafter directly indirectly.
The success OF this great and unprecedented cam
paign depends upon fun realization py me polCS5
holders and the public Of its unseltishness ana
of the sense CT public duty that inspired ana oot
mates H. The distinguished personnel OF the COM
mittee was accepted as guarantee OF the H dlsIn-
teresedness Of the movement II muSt 50 remain nam
nected with it should be placed in the position OF
seeming 10 want Office or benefit.
Tie old management are on the defensive. where
they belong. They should be kept there Already
The motives of the distinguished men engaged in
this public service and by malignant personal at
tacks me and my motives. as though were q
There are hut two. simple issues involved. We
should see il that they get chance TO obscure
OF divert them ID Do the poicyhOlders believe
that their property can be better administered Dy
their own chosen representatives han by the OLD
self-consttuied. discredited management and their
nominees? (2 Is there likely to be fulI resti-
Tltion for past misdeeds by re-electing the
men VINO responsible for them and their noml-
nees or selected by The policyhollers2
There IS another and a controlling reason against
the suggested action. If you succeed. as believe
you viii il will mark the beginning of the cor
recrion % many great abuses in corporate manage
ment We should now set precedent that VIII
inspire confidence In the disnterestedness Of such
movements It should be made possible for de-
frauded stockholders and policyholders who are
Wfdelz scattered and have heretofore been at the
mercy Of the men who have gained control of their
property without their knowledge or consent. 10
FEEL that this IS chance Of escape, and that there
are men who will espouse their cause WITHOUT
hOpe OF reward.
For the reasons stated 1 will not for moment
consider any suggestion that involves my being
officially otherwise connected with either OF
these companies a trustee, counsel or IN any
ether capacity told you that at the start ana
insist upon being taken al my word
II in the final analysis il shall appear that
have in any way contributed to the success OF
movement which will rescue these vast assets from
The grasp Of the speculative Wall Street hnanleIs
where they have been used for the dountIui
schemes Of high finance and TO corrupt legislatures
and political parties and 10 place them in honest,
conservative hands. selected by the owners OF tne
properties shall be more than content with nay
ing had the high privilege Of taking Part IN the
performance Of so great public duty.