| OCR Text |
Show LIFE INSURANCE DEPREDATI ONS- One of the gigantic life insurance companies of Xew York is being prosecuted by a number of its policy-holders for wrongful sequestration of their funds. Tho recklessness and dishonesty of the management man-agement of these sacred institutions is the most reprehensible form in which "frenzied finance" has yet manifested itself. If there are any funds that should be regarded as sacred by. those with whom they are entrusted, it is those laid aside, often at great socrificc, by the millions of life-policy holders hold-ers of the land as a provision for their dependent dear ones when they shall bo deprived of the sup- j port of the household provider. Several months prior to the publication of al- j leged startling frauds directed against these funds I by certain managers of life insurance companies, j the present writer prepared for publication a series ' of articles calling attention to the enormous losses that the policy holders in the largest companies of the land were, made to suffer by the gross extravagance extrava-gance of the trusted managers of these sacred institutions insti-tutions of the people. This phrase is used advisedly, advised-ly, for these life insurance companies are, with very few conspicuous exceptions, purely mutual, and their managers are merely and simply the servants yof the policy holders. By this reckless extravagance expenditures in excess of the ratio expcricaiced by several of the more judiciously and economically managed companies com-panies of the country these policy . holders are mulcted to the tune of over twenty-five millions of dollars annually. If any evidence were necessary to establish the fact that the conditions of the day, created by the mad chase after wealth, render it incumbent upon men, qualified by experience and opportunity and animated by Christian principles, to wage a relentless relent-less warfare against the spirit of greed that is so utterly subversive to all Christian ideals, it is here abundantly afforded. How can men, who prostitute themselves to this ignoble spirit, in order that they may the more grossly wallow in the flesh-pots of life, be aught but coutaminators of their kind? And when it is remembered that these men are among the most conspicuous and "reputable" members of our society professed church members and moralists mor-alists we. cannot help but tremble for the future of our civilization. Xever was there a time more opportune than 19 the present to do heroic battle for the prevalence of higher ideals. The pace has been set by such il-.lnitriniiR il-.lnitriniiR men as President Roosevelt and President Hadlcy of Vale. The former, by virtue of his exalted ex-alted position and the unbounded admiration and esteem lie has won by the grandeur and sturdiness of his character, will probably leave a more indellible indelli-ble impress upon tho character of his generation than any other individual of our time. How fortunate, fortu-nate, therefore, that he has so enthusiastically championed the cause of the simple life, so to speak. Our worthy chief magistrate has merited the profound pro-found gratitude of his fellow men in more ways j than one, but in none, it is reasonable to assert, more pronouncedly than by the lofty ideals that he would inculcate by his glowing words and his pure and admirable life. Time there was, and that not very long ago, when a newspaper which dared to make a practice of denouncing the money-spirit of the age woidd j excite the suspicion of being a disgruntled crank or even of being tainted with anarchistic sentiments. senti-ments. Then it required moral courage of a high order to pursue a course dictated by sentiments of Christianity or humanita nanism. Fortunately, the public mind is now prepared for the propaganda for higher ideals, the prosecution prosecu-tion of which is peculiarly the mission of the re-' ligious press. |
