Omaha daily bee., 1908-01-16
FIGHT ON IN BANKERS LIFE
John w. Towle, Policy Holder, En-
joins Change in Character.
OPPOSES THE STOCK COMPANY
Ayers in His Court Petition that n
II. Robson Has Dominated and
Made the InstitutiOn a
Family ARair.

A restraining order to prevent the voting
Of the proxies of absent polcyholders In
favor of changing the Bankers Reserve Life
company from a mutual to a stock com
pany was. issued Wednesday about noon
by Judge Kennedy John w. Towle, one
of the policyholders of the company. made
the application through his attorneys,
Weaver & Gfller, and Judge Kennedy set
the hearing on the application to make
the injunction permanent for Thursday at
p. m.
The restraining order runs against Bas-
com II. Robson Ray c. Wagner, William
f. Milroy. Thomas w. Blackburn, Robert
L. Robson, Walter G. Preston and the
Bankers Reserve Life company.
In his petition Towle declares he and the
other policy holders have acquired vested
right in the property and assets of the
company which will be jeopardized by the
proposed change from the mutual to the
stock company plan of organization. He
declared b. II. Robson has always domi-
mated the corporation and has been run
ming it as family affair" lie, his son
and two sons-in-law constituting the ma
jority of the membership OF the board OF
directors.
on each application for a policy is at
tached a power OF attorney to be signed
by the applicant. giving B. II. Robson the
right to represent him. Recently, the petit
tion says, letters were sent out to policy
holders stating that all proxies not other
wise given would be voted by Mr. Robson
in favor of the change on the strength OF
this power OF attorney. 1t is the voting
of these proxies that is enjoined by the
restraining order issued by the court.
President Robson Talks.
This injunction was not secured by our
policy holders and they are not back Of
IT, said President Bascom II. Robson of
the Bankers Reserve Life company, when
told that an injunction had been secured
to prevent the voting Of the proxies.
Further than this I can say nothing"
said Mr.. Robson. II have not been In
formed as to what the petition for the
injunction alleges. T. w. blackburn and
]. H. Adams are the attorneys for the
company. They have been sent to look
over the petition and court order"
"Will you go ahead with your meeting?"
| he was asked.
1T is required by law"
"Will you vote the proxies?"
'It is required by law"
"But there is an injunction against vot-
| ing them"
Merely Hearsay Evidence.
'"That is what I understood but I don't
know anything about It."
Further than this President Robson re-
fnsed to- discuss the affairs of the COM
pany. He said he had a number Of affi-
davits to file which might change the APP
pearance of the matter.
The Bankers Reserve Life is advertised
as a million dollar company. The state
ment of October showed that It has re-
sources of $l,0146O7. The met mean re-
serve liability on all policies in force, COM
puted on the actuaries table OF mortality,
with a per cent interest" was stated as
S7SS, IA The death losses reported or un-
paid amounted to only $500.
The official staff of the company is:
| b. H. Robson, president.
Ray G. wagner, secretary.
| r.. L. Dunn, assistant secretary.
! r. l., Robson, vice president.
w G. Preston, treasurer.
/ f. j. Moravec, cashier
r. NJ Taylor, auditor.
! DR. w. O. Bridges, medical director.
| DR.. w. +. Milroy, assistant medical di-
Dr. J. e. Summers. jr., assistant medical
director.
John A Dempster' superintendent of
| agents
r.. F. Marquis, general agency director
! G. p. Bates, general agency inspector.
| +. G. Hoagland, general agency super
| intendent