Show THOMAS we LAWSON there Is little doutt doubt left among the acarl can people as to his sincerity par for the last thirteen months thomas IV lawsons frenzied Flu finance ancel has been running in magazine on account ot of general scepticism ie regarding garding regard lne re formations which existed throughout the united states and perhaps all the civilized world and the long drawn out educational groundwork ground work of the article people were about equally divided to in their opinions of the man and bis big object he was so go fearless and so fascinating however that interest did not lag in the story and when the june number came caine out nine out of every ten readers unqualifiedly came out also and arrayed themselves on the side of the writer the july number which Is now out Is even more replete it if that were possible with information than any preceding number in it mr lawson gives some valuable e A ABC B C lessons in finance and economics his article addressed to policy holders of of the equitable the mutual and the new york tork life is so pertinent that we e reproduce it 11 verbatim herewith to the policy holders of the new kew york life mutual sod and equitable insurance companies the time has come for you to act aben less leb le B than a year ago I 1 beran my story Frent led finance I 1 exposed the three great life alfe insurance earn comp p sales aDlea in the structure of the system I 1 explained that they were controlled in the interests of great financiers and that their funds were juggled with to compass the huge plunder plundering lag of wall street at the time shenew the bew wew york life the equitable add the mutual life loomed before the american people as the greatest most respected and most venerable institutions in our broad land today they stand for all that Is tricky fraudulent and oppressive A great change to have been accomplished in less than twelve twelvemonths months my readers are by this time familiar with the condi condition tiou of affairs la in the equitable the greed juggling and practiced by its officers and controllers have been fully exposed through aith the press I 1 hope none cone of those who have followed the terrific of rottenness and rascality made through the frick report are continued on page seven thomas we lawson conal continued aued from third pane page so 80 foolish as to imagine that the e evils ils described are arc confined to the equit equitable in MY iny own opinion the fault equit able Is much less reprehensible than the shenew mew york lite life and when that institution and ana the mutual matual are thoroughly shaken up as aa they will be in the future indubitable evidence of the same union of extravagances trickery and fraud will be found in plenty conditions in the ibe three institutions are the same though of late the new york lite life haa bas altered the character of 0 most of 0 its securities each bag baa piled up an immense surplus which ban bag been used through allied trust companies for stock juggling fitch each has paid extravagant comma along to agents the funds f of each have been managed to afford plentiful opportunities port unities of graft to high each has its real estate fire I 1 low reut real and aad loan favor graft in each will be found the same type of syndicate as president alexander and vice president hyde hyda used tor for their personal enrichment la in the equitable today president john A mccall of the new york lite life Is credited with po tessing a fortune ot of between ten tea and fifteen millions a few briel brief years ago he be was bbate superintendent of 0 insurance in albany the chief associate a in ia the management of the corporation george W perkins J Pier pierport pout nl morgans partners partner Is another very rich mari man whose wealth has been achieved in a few brief years do you imagine for a moment that such transactions ai I 1 set forth last year to la connection with the new hew york security and trust company in buloh the interest of the new york lite life was sold to a syndicate acate of its own directors tor for a sum tar far delow below the market value of the snares shares were put through without the cenal uni vance of president mccall and vice president perkins ns even it if the new york life as its president explains did make a large profit on the sale ol of the trust company Is 8 stock he canno cannot t deny that the syndicate paid far less IMS than the then market balue of the shares tor for the insurance comp companes com anys there is something particularly vile about the crimes crimea of these high officials official and distinguished gentlemen who haye hay been waxing fat and luxurious on life insurance graft la in a recent number of this magazine I 1 drew a parallel between the confidence operator and the burglar to show that tile latter dis pisek the former fr for a sneak thief who takes no chances in his thieving operations infinitely more depraved Is 18 the high placed functionary presiding over a great institution built up out of the saving of millions of people paid an Im immense merise salary for his hid emoor taut tant services trusted with vast funds because of his reputation tor for integrity and business sagacity who et uses his bis splendid place to line his own of all fiduciary institutions life insurance should be the most sacred It its chief function is 14 to care tor for the widow the orphan and the helpless the millions of revenue paid annually into the life ike insurance companies ot of this country represent the blood and tears and sweat of millions of americans who thus provide for the care of their dear ones lor for the time when death shall have put an end to their own income earning abilities the administrator of a trust so solemn and exalted should devote himself to its safeguarding as a priest dedicates himself to the service ol of his bis maker the responsibility confer conferred red on him Is the highest sad and hollest man can repose in his bis fellow mari man re ee mem bering all this coo consider sider again the revelations of greed and plunder in ill the equitable consider million upun millions mill luns of dolla dollars rs have been filched and alid wasted analyze the iba frick flick report and tho the letter of 0 president lexander alexander to the directors of the so caning calling irr for v ice from rum rif office flue ye e farmers and laborers of per personal bonal lug u in a brief period ut of salaries lirlea sa ol of annuala dou annu jalli all paid lor for afew a few hours ot of work per day think of vast sums bums of your money used to provide adte depould ln in with low priced raced quarters s thai the personal pera perS income 0 of men already may wax still greater er eacer think of tile great tion alon to whose hundreds ol of millions income you contribute your liaro hard earned dollars being abeln farmed milked and nd squeezed by a pack of bad and greedy schemers and robben note and oppressive than any band of fit daugs in the country when I 1 began to discuss to in EVERY MAGAZIN 13 tile the subject of the tha three life insurance companies I 1 stated staled d that there to is actually nothing between the two million odd policy holders and the possibility of their beani robbed of 0 the billions of dollars of on their heir accumulated savings but the devotion and the honesty of the men who are in control ot of these institutions you know what happened when I 1 said this to you the first time less alss than a year ago the 0 meers trustees and hirelings of these great compa companies oies laughed to scorn my statements and called me a liar and a scoundrel they drew the attention loa ot of the whole world to the standing and wealth and honesty of 0 the men wao abo managed these great corporations and proved by the most positive asseverations that nothing could be more preposterous than that any one of them could do wrong buethe but the great god who seldom allows his children to remain long deceived to their undoing heard beard these loudmouthed loud mouthed protestation sand today the world Is listening to exposures of low mean thefts and contemptible crimes far worse than arty to 1 had bad pointed 4 and from whom comes the proof of the treacheries and perpetrated within the equitable from the meo men who control and manage this preat irrean institution and its hundreds ot of millions of accumulations when bori my accusations first appeared these thesa men saw the handwriting on the wall and some of them bolder than others determined ter mined to seize these vast hoards of the publics money and at the same time get pus possession session of all evidence of past crimes so that they might be immune forever after from punishment and restitution in the art of grabbing however the robbers tell fell out with one another and prestol they are in the public square where all men women and children cats dogs and asses may bear and see as they kouke gouge bite and amuse accuse each other of the vilest crimes concluded next week |