Evening Republican, Volume 16, Number 253, Rensselaer, Jasper County, 22 October 1912 — POLICY HOLDERS OPPOSE CHANGE [ARTICLE]

POLICY HOLDERS OPPOSE CHANGE

Insurance Policy Holders Want Lafayette Life Insurance Co. to Remain Mutual. , •More than 100 policy hplders of the Lafayette Life Insurance Cq., who reside within a s radius of 100 miles of Lafayette, met Monday to protest against the proposed plan to change the organization from a mutual company to a stock company. Bertram Day, formerly of Indianapolis, president of the company, presided at the meeting. Prof. William D. Nye, of Purdue University, represented the policy holders. Attorney Dan W. Simms spoke for the company and said that some change must be made in the organization in order to enlarge the business. It was decided to hold another meeting Dec. 20, and at that time an effort will he made to change the organization, but still to conduct it along mutual lines. Many of the policy holders who favor the mutual plan say that the stock plan would take the control of the company out of the 5,000 policy holders and place it in the hands of fifteen men and that dividends now shared by the policy holders would go to the stockholders. There are a large number of holders of policies in this company living in Rensselaer and Jasper county.