Evening Republican, Volume 19, Number 245, Rensselaer, Jasper County, 15 October 1915 — LIFE INSURANCE CO. SUED FOR AID IN LOAN [ARTICLE]

LIFE INSURANCE CO. SUED FOR AID IN LOAN

Policy Holder Object* to Mutual Life Ins*ranee Co. Subscribing For Allied Aid. Chicago, Oct. 11.—Alleging that the Mutual Life Insusance Co., of New York contemplates investing $10,000,000 of the trust funds in the Anglo-French loan of $500,000,000, Olga H. S. Walsh, Chicago, holder of a $2,000 insurance policy in the Mutual, filed suit for an injunction in the federal court here today. Frank S. Mannett, former attorney general of Ohio, is the attorney for the plaintio. The insurance company, Charles A. Peabody, its president, the directors, members of the Anglo-French credit loan commission, J. P. “Morgan, individually, arid J. P. Morgan & Co., were named as defendants. The complaint to the court, which was filed by Mrs. Walsh in person, sets forth that among the thousands of policy holders are many persons of various nationalities, and that the investment of the trust funds f .these policy holders in the Anglo-French loan would tend to produce antagonism among the policy holders, might lead to the company and thereby depreciate the value of her interests in the company. In the language of the bill the court is informed that “the solvency of the company and the conservation of the Veserve fund depends on the good will of the policy holders and no part of the assets of the company should be loaned or invested in the securities of any of the warring nations or used for the purpose of abetting existing wars.”