Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-11-17
LOSSES OF PENSION MUTUAL
3 ESTIMATED AT ABOUT MILLION;
PROTEST OF POLICYH0LDERS

HARRISBURG. Nov. 17.-Insurance
Commissioner o'NeIl and Attorney General
Brown probably will get together today and
decide on the best steps to take in regard
10 the tangled affairs of the Pension Mutual
Life Insurance Company.
The State officials now estimate the loss
90 policyholdcrs at almost n million dollars
They want to do their best by the policy
holders in way of making return to them
they also want to make any OF the COM
pany's officials who violated the law pay
their penalty and finally they want TO de-
termine the best way TO prevent In the
future any insurance companys being al
lowed to bring ita affairs to such pass
However the positions Of the stockhold'
era and the officials whom Commissioner
O'Neil believes wronged them are finally
determined, the State prober5 are deter
fitned to see that the future insurance COM
panies will be held to a more strict ac-
counting all along the line, so that Il Pension
Mutual Life Insurance Company story can't
be written under another name.
Nearly every train reaching harrisburg
brings one more polcyhoders Of the
Pension Mutual Life Insurance Company.
Same OF them come from as far as Ken
tneIy. Among the arrivals are women
Some Of them are in tho twenttes: others
are IN tho ffties As they walk out of the
railroad station, they make their way to-
ward Capitol Hill. They here to find
out whether they have lost the money
which they have invested in policies of the
company. Insurance Commissioner o'Neil's
latest estimate of loss to poIicyholders is
S849.195.
From chambersburg, Pa, came two men
representing group of investors who ex-
changed their stock In solvent company
for stock in the insolvent Pension Mutual
Life Insurance Company. They held Il con-
ference with Commissioner O'Neil, who as
sured them that he was trying to untangle
the affairs OF their company
former stable boy at western race
track and now in the sixties. walked up the
steps of the Capitol this morning. He held
policy Issued by the Pension Mutual Life
Insurance Company For years he has
been paying premiums to that company
'iPm game loser" said the former sta
nle boy. whose home is Lexington, Ky,
and many day passed by In my life that
! never cashed in on a ticket. but l never
kicked, because had a run for my money
But this Is the rawsst deal that ever got
IN my bettng experience. l guess Ill leave
the Insurance game for a while"
The next visitor to the Capitol was a girl
student In the Wadleigh High School, In
New York. She represented her mother.
who Is "A policy holder In the Pension Mu-
tuaI Life Insurance Company.
Mother lost her eyesght recently and
the policy which she has was to become due
shortly. We were planning to send mother
70 Vienna to have her eyes examined by
specialist. / guess our plans will not ma
lerlaiize now" said she,
7 guess not. grille" said the former
stable boy from Kentucky
The occupations of some of the policy
holders who are seeking TO be enlightened
on the affairs of the Pension Mutual Life
Insurance Company range from laborer 10
aaiesmen There are physicians merchants
and also few lawyers who frankly admit
that they now realize that they don't know
as much about insurance law as they
Thought they did.