The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1927-04-15

take care of the boys" up in Albany.
And so on. You get the point.
Where They Learn.
And also, it is the alma mater OF
many of our brightest life insurance
officials. Robert Lynn Cox, one OF
the assemblymen who sat on the IA
nous or is it notorious } Armstrong
Insurance Investigation Committee in
1905, got his start in the insurance
business with the Association Of Life
Insurance Presidents.
That Kind of Bride.
1t will be remembered that the "in-
dustrialo life insurance companies,
lie, the big Four" were slated for
a probing, as the tabloids have it,
They day before they were to come
before the investigating committee
the hearings were adjourned.
Mr.. Cox, who was then Assembly
man Cox, was shortly afterwards APP
pointed general manager of the Asso-
citation OF Life Insurance Presidents
at salary of $4,000 per year. Mr..
Cox is now a second vice president Of
the Metropolitan Life. AS a mutual
second vice president he receives
$4,000 per year.
1t is not being specifically charged
that Mr.. Cox accepted a bribe IN
taking the Association job If he was
not corrupted that would make in
teresting news. But now is the be-
lated time to look into this whole
matter of fraud, corruption and
swindle which taints the industrial"
insurance business.
Another Good Job.
The same mysterious circumstances
which surround Cox's appointment
also color ex-senator William J.
Tully, who Immediately after his
part as one Of the Armstrong Investi-
gators was appointed solicitor for the
Metropolitan Life at salary Of $780,
600 per year. Tully is still with the
old Metropolitan. Recently his pay
was raised to $4,000.
The big Four" are members Of the
Association of Life Insurance Presi-
dents. They are assessed a certain
membership lee each year.
In 1926 the Metropolitan Life, the
largest life insurance company in the
world, paid in fees to the Association
the sum Of -25,000
Took the Money.
During the same year, the Pruden
tial Life Insurance Company paid in
fees to the same organization for the
same services over $4,000.
Think of it!
Nearly a quarter of million dol
lars belonging to the mutual policy
holders of Prudential was given to
the Association of Life Insurance
Presidents.
Why?
What great service did the Associa-
ton perform for the Prudential that
it merited payment of nearly a
quarter Of million.
: Why was it that the Metropolitan,
J larger company than the Pruden-
tial was only assessed $4,000 while
the Prudential kicked in" ten times
as much.
, When Mr.. Cox of the Metropolitan
was questioned on this blatant fraud
he excused the Prudential by saying
that their entry was made in error,
: that no company paid over $4,000.
The entry was made in the official
report of the Prudential to the super
intendent of insurance. The entry
was made under the heading Of dis
bursements" and this error" balanced
the income If the Prudential really
paid $4,000 as is stated by Cox, then
. how did the Prudential accounts bal
/ ance their books for the year. The
Prudential fee was entered and pub
lished on pages 400 and 491 on the
official Insurance Report for the
, State of New York, issue 1926.
How did this outrageous piece Of
manipulation get by the Superinten-
dent?
: Mr.. James A. Beha is the. present
/, superintendent, he is personal APP
! pointee of Governor Smith.
Will Smith Investigate.
1t is high time that the Governor
i ordered an investigation into the
g malicious industrial insurance sys-
tenn.
Forty million worker-insurers are
! involved in this scandal. Every two
weeks they pay millions upon millions
of dollars to the big Four" II is
! not local issue. 1t is a national
issue. Practically every worker in
the state Of New York is interested
and affected.
Most Of the heads of the families
: covered by this type Of life insurance
are union members. The big Four
, are ruthless in suppressing all at
tempts at unionization. Now is an
:. 1919 -....--..A.....A.. r. 49,