Evening star., 1939-02-08
BY JOHN C.. HENRY.

4lHOuSu IIlCcIlOChlllk uIcCtOT~ .
ships, the Metropolitan Life 1nsur-
ance Co., largest in the world, has
direct voice in the management of
some 100 other dominant American
corporations, it was shown before the
Monopoly Committee today.
In three instances, Metropolitan
directors are serving only as officers
of other corporations, but in nearly
10 cases the insurance company di-
rectors hold other corporate director
ships, and in nearly so additional
instances, Metropolitan directors
hold Affiliations as both officers and
directors in other enterprises.
Among the companies drawing
directors from the Metropolitan
group are IA banks and trust COM
panies, 13 industrial concerns, Is
other insurance companies of differ
ent types. oil companies. publish
ing companies, l8 utilities and 10
railroads.
Capital Concerns Included.
Among the utilities are the Chesa-
peake e. Potomac Telephone Co. and
the Potomac Electric Power Co.
Also named in this list of con-
Germs sharing" directors are the
Chase National Bank, Westing-
house Electric, Coca Cola, American
Sugar, Acacia Mutual Life. Union
Pacific Railroad. American Tele-
phone &, Telegraph, Consolidated
Edison and Western Union.
Several of these and others appear
in the list of concerns where Metro
politan directors are serving as both
corporate officers and directors.
In this group is the Riggs Ma
tional Bank of this city, Robert ".
Fleming serving not only as officer
and director of the bank. but also
as a director of Metropolitan.
These interlocking relationships
were shown in an exhibit submitted
to the committee by Gerhard &C.
sell, Securities and Exchange Com
mission examiner, during examina-
ton of Frederick H. Ecker. board
chairman of Metropolitan.
Subsequent to this show of varied
interests and exercise of influence
by Metropolitan. questioning and
documentary evidence before the
committee indicated the real con-
troll of the f1ve-billion- dollar cor
poration has resided over the years
in a bare majority of their 25-man
board.
IS Is Average Attendance.
Out of 125 meetings of the board,
for instance, records showed average
attendance Of Is members. with no
more than 20 present on any occa-
sion.
On this matter of attendance at
board meetings. Mr.. Ecker declared
he felt no concern. because there
mad been no trouble getting a
quorum and keeping important COM
mittees filled with active directors
1t was shown that Charles M
Schwab, steel magnate. attended
only three board meetings in SO over
seven-year period. L. A. Taz-
chereau, Canadian member, did not
attend single meeting in l6 years.
On being asked in 1898 whether
he should be renominated, Mr..
Taschereau left it to the remainder
of the board. reminding Mr.. Ecker
by letter that he had been invited
to join by Haley Fiske, former
Metropolitan president.
Mr.. Taschereau wrote:
Mr.. Fiske told me that, on ac-
count of his Canadian business and
especially Of the French Canadian
clients of the Metropolitan Life. he
wished to add on the board the
name of well-known French
Canadian. I was then the Prime
Minister of the Province of Quebec.
1T was distinctly understood at
the time that, as I was a very busy