The Birmingham age-herald., 1908-05-03
Insurance Man Charges Wall Street FinaRciers With
 Late StingGncy
CONCENTRATION OF MONEY
 IN NEW YORK FOR PURPOSE
Edward A. Whittier Brings Damage Suit Against Insurance Company . and Makes Startling Charges
 In His Complaint.

New York. May 2.-(Special) )-Edward A. Whittier of Newark. until recently the New Jersey state agent of the Wash- ington Life Insurance company, today made sensational allegations in his com paint in a $90,o0o damage suit which he has brought against the company.
 In his pleadings. fleds in the supreme court in Trenton by his attorney, William NJ Atkinson, MT. Whittier asserts that the Washington Life Insurance company is dominated by Thomas F. Ryan. Harry Payne Whitney and Levi P. Morton, who own all of the company stock.
 The board of directors is characterized as a dummy" board, exercising no real power over the corporation.
 Referring to an order issued to the com panys agents throughout the country prior to the panic of last October, to send forthwith to the New York office of the company all moneys on deposit in all banks in excess of $5Oo. MT. Whittier in his pleading says:
 Caused the Panic.
 This order was not made for the good of the company, but was issued by it's of- fieers at the direction of Ryan, Whitney and Morton in collaboration with other unpatriotic and wicked persons in con- spiracy with said Ryan Whitney and Morton, to procure a dearth of money in other parts of the country than in the financial district of New York in order that financial panic would be produced to bring into contumely and disgrace the administration of Theodore Roosevelt, as President of the United States; procure a bear market in Wall street; bring conj- mercial panic and unhappiaess to the ma iority of the American people that dishon- est commercial methods were the price, or rather the prerequisite to the commer- cial prosperity and economic welfare of the American people"
 Proceeding in the complaint, Whittier ayers that similar orders were issued hy other life insurance companies in the control of Ryan. Whitney, Morton and others. the result of such orders being the withdrawal of money from different parts of the United States centering it under their own control here in New York, and thereby causing the panic.
 Into Hot Water.
 Mir. Whittier got himself into hot water with his company about a month ago when it developed that he had furnished evidence of certain facts, along the lines of his allegations in his present suit b United States Senator LaFollette of Wis consin, to be used in the senator's speech before the Senate on the panic.
 It was stated at the time that the Washingon Life asked MT. Whittier for his resignation when they learned these facts, but Mir Whittier denies that his resignation was even asked for. To q reporter today he said:
 "I was not asked to resign and did not company and when they broke their con tract with me l served notice on them to the effect that l would not represent them further.
 ''The issuance of the order to withdraw from deposit in local banks all sums of money in excess of $500 ruined my bus mess. With the deposit in my local bank which had for years averaged more than $500, I was enabled to discount paper taken in writing insurance business. With the deposit sent to New York the local bank would not discount the paper, and that ruined the business as the greater part of the insurance business Is done on credit
 pany for damages which I sustained by their acts along this line and l intend to push it."