Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-02-24
Oxo,Ms GUT TO Dust HENRY
PYLE OF NATIONAL LIFE
ASSOCIATION.
SOFT AIMS 70, PREsERvE
rs AsSErs o. MUTUAL CONCERN
Pnssidsnt Pyle Atsgsd 70 Have Failed
q Conduct Business in Accordance
Salary IN Exesss Of Reasonable Rate
Company Not Under Attack.
Special to I1mes-Republican.

Special to Times
Des Moines. Feb. 24.-Action by the
attorney general taken in district cour,
here to preserve and save one Of the
Iowa Insurance companies discloses
one reason why some insurance COM
panies have a hard time existing.
The action was one to remove from
office President Pyle OF the National
Life Association, mutual assessment
company. The reason this action was
taken was because Of desire to con-
serve the interests Of the association,
to prevent great loss to the same and
to provide that it's affairs be con-
Quoted with a view to permanent and
sensible business.
The National Life Association was
organized here in 1899. Its president
is Henry Pyle. In 1912 it had an in
come Of 1856, ss7.s1. Of which s143.-
00S.5S came from membership fees Of
new members. At the close Of that
year It had 1918 members and the po-
ltcies In force aggregated $50, 139. 500.
was 2,S74. Claims paid amounted to
S197.9oo.
Want Pyle Removed.
The action as shown in q petition
signed by Attorney General Cosson and
Assistant Attorney General Sampson.
asks the court for the removal Of Pres
ident Pyle, and appointment by the
court OF president in his stead to
~. -
members.
The statements In the petition are
astonishing as to the financial methods
alleged to have been followed in the
con duct Of this business. In general it
is asserted that Pyle has been con-
Quoting the business trau6ulentIy and
not IN compliance with the law nor the
regulations OF the insurance depart
ment, and that unless the system IS
radically changed there win be INSULT
oient funds TO carry out the contracts
WITH membesI More specifically It is
dechfed,
The officials failed to secure the ap-
has used policies which have not been
approved.
The policies are not based on satis-
many cases issued without medical ap-
provaa at the head office.
President Henry Pyle has failed 70
furnish the bond required Of him.
Circulars have been sent out mis-
representing the terms and conditions
Of the insurance contracts.
Money received from members has
not been invested az required by law
IA u-f ~,
insurance department. but has been
placed in banks in which the defend
ants are interested.
Assessments have been sent out
without stating the cause for the same.
There has been wrongful trans
ferring Of funds from one department
or fund to another.
Pyle Draws Large Salary.
The association has made loans OF
It's funds In territory not authorized
for such loans under Iowa law.
President Pyle Is alleged to have
caused to be paid to himself sums Of
money without right or authority in
the form Of expense money and other
wise.
An expense bill Of 1921 Is cited for
which no tented statement was fled.
President Henry Pyle 10 paying to
himself a salary Of 1920 year. when
officers In similar positions in other
companies get much less.
There Is being paid now to officers
and trustees and other over $4,000
annually In salaries.
The names of six members of the
family OF President Henry Pyle are
named who are declared to be on the
payroll Of the association and there is
being paid TO members Of this one fam
lily over $4,000 q year in salaries.
There was being paid to each drec-
tor $500.
A policy was accepted on the life
Of President Pyle's mother for $4,000
without medical examination, so it is
stated, and upon her death the $4,000
was paid to President Pyle without
proper proofs and other details.
President Pyle Is declared to have
neglected his duties and to have given
great deal Of his time to private bus
ness He has a farm in Canada, in
terests down south, a printing office IL
Oes Moines and Is interested in a big
corporation in Washington, and has
performed services for the Hart-Parl
company for which he has suit II
court claiming $4,000.
It is alleged that President Pyle
made a contract with the man il
charge Of the association business ir
Illinois by which Pyle was to get hall
If the income from the renewals.
It is alleged he has secret under.
standing with another man by which
he shares in profits from an alleged
exorbitant commission business for the
association.
1t is declared he made contracts witt
tnvestment companies in Oklahoma t.
get brokerage fee on loans made il
Oklahoma for the company.
These are few Of the slight irreg
ularities said to have been turned VI
on an examination Of the affairs of thu
association by the insurance depart
ment, and they and others not named
are deemed sufficient SO that demant
10 made for new deal by the resig
nation or ousting OF the three director
alleged to have been responsible 20:
the trouble.
Suit Causes Surprise.
The filing Of suit by the attorne!
general 70 Dust from office the activ'
head and manager Of the National Lift
caused surprise here, for very nttl'
was known OF this association her
beyond that 1t was doing fine bust
se.s President Pyle - net yer,