Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-08-24
FROM THE OCCIDENTAL LIFE
Albuquerque, N. NJ,
Aug. 20. 1921.

Albuquerque, N. M,
Aug. 20. 1921.
Editor Morning Journal:
Referring to your editorial of
August 10 headed, ugly Rumors.
We do not concede your right to
publish "rumors' about individu-
ais or corporations; we do not con-
cede your right to determine
whether or not those rumors are
true. We do not believe that you
are fair, that you intend to be fair,
or that you could be fair. Your
policy of printing "rumors' and
trying to make. amends thereafter,
when they are proved to be false,
you know can cause nothing but
harm. You are well aware that
lies and ''rumors'' travel on swift
wings, while truth lags in a slow
walk. You ought to know, IL you
do not, that the impressions given
by false reports through news
paper, can never be fully counter
acted in any manner; you know,
or ought to know, that it is cow
ardly to use the publicity afford
ed by a newspaper of large circu-
lation for the dissemination of lies
and "rumors," against those who
have not the same means of pub
licity to combat such lies and 'ru-
mors." The "rumors" to which
you refer emanate from two
sources, and they have been kept
busy for the past three or four
years. One of those sources is p.
NJ. Lienau, now deputy for insur-
ance in the state bank examiners
office, and formerly clerk under
the insurance commissioner for
many years past. The other source
is the National Insurance company
of the Southwest. through its prin-
cipal officer, Ed Chase. Since jan
uary, 1917, P. NJ. Lienau has been
the avowed enemy of the Occiden-
tai Life Insurance company, and
during all that time has been the
active officer in control Of the in
surance department. Instead of
having a pull with the insur-
ance department, as you suggest.
we have been unable to obtain
even the barest Justice or courtesy
from that department. Anony-
nous letters have been mailed to
insurance departments in other
states, bearing the Santa Fe post
mark, attacking the Occidental.
Ed Chase, the manager of the
National Life Insurance company
of the Southwest, has been partlc-
ularly bitter in his attacks upon
the company, and resorted to such |
methods of annoyance as making |
a practice of hiring our trained
stenographers and clerks, proselyt- |
ing our agency forces, and trying |
by every means in his power to
insuring public.
At the time of our last examina-
ton, in 1920, the Occidental was
attacked by the means of anony-
nous letters mailed at Albuquer-
que to the examiner, after he ar
rived here to make the examina-
ton.
It is customary for all standard
life insurance companies to he ex-
amined every alternate year by |
actuaries representing
the insurance departments Of the
various states in which the said
is licensed or proposes to
do business. These examinations
are made, not by persons chosen
by the company examined, but by
persons who are chosen by the in
surance departments Of the states
In which the company does bust
ness, and are supposed to be actu-
aries of the highest standing and
often of national reputation. The
tVx1 40 I
very purpose of ascertaining not
only the solvency of the company,
but the honesty and competency
Of its management, and to learn
whether or not 1t is worthy Of pub
lie confidence. We have been ex-
amined at least once every two
years from the time Of the organi-
cation of the company Those ex-
limitations are a matter of record
In the insurance department of
New Mexico and are open to in
spection of the public.
We are doing business In eight
states, and each Of those eight
states, on the occasion Of every
examination, is invited to particl-
pate In the examination, usually
of states agreeing upon
some one Representative. 1t isl
Upon the result of these examina-
ions and reports that each COM
oany is licensed and authorized to
10 business. The National Life
Insurance company has been ex-
ahmed but once by such actu-
tries.
In April, 1918, Paul L. Wool
'ton, consulting actuary Of Denver,
Colo, examined both the National
Life Insurance company and the
Occidental Life Insurance COM
pany. Mr.. o. Sigtenhorst consult
Ing actuary of Texas participated
In the Occidental examination on