Richmond Palladium (Daily), Volume 40, Number 267, 21 October 1915 — Page 14

I PAGE FOURTEEN THE RICHMOND PALLADIUM AND SUN-TELEGRAM. THURSDAY OCT. 21, 1915

MU'MDITtfflBEIIDI -'i OH W8 LOflf DAHSEK

This concludes the article by William Bayard Hale .-on , the insurance situation: ; c ' These words, coming from a source so authoritative, are of the most alarmIns portent. There Is no objection to private banking houses taking on speculative ventures, such as bonds of foreign countries "that-may suspend specie payment." or "tell the world they are unable to pay their-debts." but that life insurance funds, the savings of American families, should be placed !n Jeopardy is a crime of the first magnitude. , Into whose hands has fallen the ! Equitable Life Assurance Society, one of the larget companies of the kind in the United States, with assets of $525,000,000. When the war in Europe began It was owned by J. P. Morgan, ; whose father had bought it from Thomas F. Ryan in 1909. Suddenly, on June

13 last, the surprising announcement was made that Morgan had sold the Equitable to General T. Coleman du Pont, the. powder manufacturer, who had made a fortune in war munitions. No official explanation was ever made of this extraordinary transaction. This powder manufacturer become over night the foremost insurance power In the United States. He was placed In a position in which he dominated the entire management of this great company, directing its policy as to the disposal of its millions of assets. Du Pont Owns Company. The Equitable is still a proprietary company, and has never been mutualized, despite the promises of years. General du Pont owns the company by virtue of 602 shares which he M. from Morgan. The entire caption is only 1,000 shares. The now owned by du Pont were the property of James Hazen now an expatriate in Paris, v the scandal of 1905 compelled to j.epose of them. When the latter parted with them to Mr. Ryan, three trustees were appointed to represent the majority owner. The trustees of the Equitable are virtually the holders for voting purposes, of the majority stock, subject to the will of the owner. They elect the board of directors of the Society. : The three trustees, at present representing du Pont, the powder manufacturer, are Morgan J. O'Brien, Joseph H. Choate and Lewis Cass Ledyard. Mr. Choate was for six years Ambassador at the Court of St. James's. He is now in bis eighty-fourth year. Mr. Ledyard was counsel for the elder Morgan, and is now on trial in the Federal District Court In New V'ork, as one of the directors of the New Haven Railroad, charged with having conspired to violate the Sherman law by seeking to monopolize the transportation facilities of New England an equivocal situation for a trustee of one of the greatest insurance Mtutions in the world, in which are osited savings of the people, love In Favor of Morgan Loan. Chortly after General du Pont's acquisition of the Equitable an energetic movement began among the trustees, directors and officers of the Society In favor of the Morgan war loan. When the . Anglo-French banking delegation arrived in New York a BccrA conference was held in the Morgan Library (night of September 11), at which these financial agents v.-ore present, and which was attended by the bankers in the Morgan syndicate and by many trustees, directors and officers of the four great life insurance companies mentioned above. What took place at that conference has never become known to the public. Among the Equitable's representatives there were Lewis Cass Ledyard, the trustee. On the night of September 30. at

the Pilgrims' dinner' given to the Anglo-French ' bankers at Sherry's, a remarkable demonstration was made by the - leading men -of the Equitable Life Assurance Society. -Joseph - H. Choate, - the most influential of the three trustees who bold in their hands the destinies of that great societysubject to the will of General du Pont in a public address, in which the venerable man displayed extraordinary feeling said : "Constantlyrdairy and nightly, I m sympathizing wjth the "allies. Lord Reading is going ., back home with

S500.000.000 in his pocket. He has

dealt splendidly with the American

people. And, now I hope that every

man. woman and child of the United

States who has got a hundred dollars will invest it in this loan, and, what's more, I hope that this Is only the first

installment."

George T. Wilson, for forty years

employed by the Equitable, and now a . director and second vice-president, jumped to his . feet at this juncture

and led an extravagant three cheers

for the King of England and the President ot France. Other officers and directors of the company took

part in these demonstrations.

At the secret conference held In the Morgan library on the night of September 11, the Mutual Life was represented by its president, Charles A. Peabody, and Its most influential trustee, George F. Baker, chairman of the First National Bank. On October 11, a Mrs. Olga H. S. Walsh, in Chicago, filed suit for an injunction to restrain the Mutual from investing its trust funds in the AngloFrench loan. Mr. Peabody, when questioned about this, said: "It would - be entirely lawful for use to Invest $10,000,000, or any other sum in the bonds within reason, if we saw fit to do so. There is nothing in the law to prevent our doing so without limit. The matter is under consideration and it might be that we would decide to take $2,000,000 or $3,000,000 of the ' bonds, as they are doubtless a good investment" "Mr. Peabody did not state whether he had consulted his fellow trustees

before reaching this decision. He did not say whether lie would consult the wishes of his Dolicvholdera. and vet

his company la a mutual concern, own4

ea absolutely by the policyholders. The president spoke as though be had unhampered control over the funds of the company. - - , Culled From Records of Scandal. Mr. Peabody's habitual attention to the wishes of bis policyholders may be

exempuiiea oy the following recitals from the record of the insurance scandal of the year 1906; , ,

Charges of unfairness in Insurance elections', were.- made : by the International -Policyholders' Committee. George R. Scrugham. manager of the committee,; said: 'Threats, coercion, intimidation and false statements are the stock in hand of the Mutual and New York Life companies in this campaign., v ,r. :'.? -f "Russell W. Fish, secretary of the

Mutual ' Life ' Policyholders' Association, sent a letter to the members of the executive committee of the association, saying:' 'We were advised by our counsel that the law of. New

York' was clear, and that the facts in

the premises indicated a violation by Mr. Peabody and other , officers and

trustees of the company, both of - Sec tion 168 and of Section 663 of the Pen

al. Code on ' charges of coercing agents to support the 'administration

ticket.". ; ' ,; ; v .

Mr; . John R. Hegeman, president and founder of the Metropolitan Life, was also- present at the conference in

the Morgan Library on September 11

It is 'of urgent interest to learn

whether, at the solicitation of J. Plerpont Morgan, any heads or officers of the ; life insurance companies there

gave him pledges to participate in the

$500,000,000 loan. .

FRIENDS NOTICE

War full proceedings of Mens Friend meeting , subscribe for the; Palladium with man at door or at office. The paper will be delivered by mail direct to your home address. --. -z ' ' ' " - - " "

HEAVY MEAT LATERS HAVE SLOW KIDNEYS Eat Less Meat If You Feel Baekachy or Have Bladder Trouble Take .. Glass of Salts.

No man or woman who eats meat regularly can make a mistake by flushing the kidneys occasionally, says a well-known authority. Meat forms uric acid which excites the kidneys, they become overworked from the strain, get sluggish and fail to filter the waste and poisons from the blood, then we get sick. Nearly all rheumatism, headaches, liver trouble nervousness, dizziness, sleeplessness and urinary disorders come from Bluggish kidneys. The moment you feel a dull ache in the kidneys or your back hurts or if the urine Is cloudy, offensive full of sediment. Irregular of passage or attended by a sensation of scalding, stop eating meat and get about four ounces of Jad Salts from any pharmacy; take a tablespoonful in a glass of water before breakfast, and in a few days your kidneys will act fine. This famous salts Is made from the acid of grapes and lemon juice, combined with lithia, and has been used for generations to flush and stimulate the kidneys, also to neutralize the acids in urine so it no longer causes irritation, thus ending bladder weakness. Jad Salts is inexpensive and cannot injure; makes a delightful effervescent lithia-water drink which every one should take now and then to keep the kidneys clean and active, and the blood pure, thereby avoiding serious kidney complications. Adv.

BANKS CHECK PANIC

S. E. Swayne .of this city, who is president of the National Implement and ' Vehicle association, presided at the session : which opened at Indianapolis last night.' Mr. Swayne said: "We have not had an opportunity to

get the 'practical-- nhHtmtfton - of taw benefits of the Federal loser e-bank act. It as been amid and I bsUeva

trathAuly so,', that mosey panics

as a result of tas

tier woold have beta had the. Fadsral

r banks sot bsan.readT.'V . !,

the lea

trss are tall oC

gcouifoiroirs

will PackF m h fPyramia FUa Tri t meat 1TW OaVrea PrcataPravo What It Will Da far Tarn,

. WIN 165 CROSSES.

STETTIN, Oct. 21. Few units of the German army have covered themselves with more glory than the Kolberg Grenadier Regiment No. 9 of Stargard. This regiment broke through the Russian lines in Courtland five times between September 5th and 19th. During the two weeks 165 soldiers and officers of the regiment were decorated with the iron cross. Three of "the heroes, Colonel Leu,' a sergeant and a private, received the firs class of this decoration.

One. child In four dies before it is six years of age.

Pyramid Pile Treatment gives quick ralief. stops ltch1 n sr. bleedlnr

.or protruding piles, hemorrhoids and mil rectal troubles. In the privacy of your own home. 60c a box at all . drug-gists. A single box often cures, . Ftp aajaple far trial with booklet mailed free In plain wrapper, U yos send us coupon below. , .

THIRTY-

FROM V feVCMTH

MMJ

Cf . : I THIRTY a PROS!' -v." ). csvsaTH .

Let UsiSclVra ;ia ProKn "2? "ERIEZ" tlctacl Gos j&r

Unquestionably the 'most complete line of Gcs Heaters shown in Richmond is on our

floor. A stove to. meet every requirement can be found here, and as usual the prices

are lower. -i. . - .

v. 'HorrENTOT' : BATH ROOM HEAT-

f -,

II II Ei

FREE SAMPLE COUPON. Pyramid Drug Company, 529 Pyramid Building, Marshall, Mich.: Kindly, send me a free sample of Pyramid Pile Treatment, in plain wrapper. Name Street City State

"ERffiZ" RADIATORS hare more square laches of radiating surface than any. similar 5 heater. Each tabs has Its Individual burner and the tubes are reinforced to ' prevent ; Duralng

out. - Oaa-Jost Kke

out priced .....

$6.75

he J.

The "EIUEZ" Fuel

Makes heat and saves fuel. The appearance la seat and attractive, and the TRIBE" standard of quality Is la every store, each detail of the eon atractlon la carefully watched by experienced man. and every stove will be found perfect perfect not only In construction, tout In action as well.The feet, fooe-ralL mtzer caps, side or naments, cover and urn are all highly polished and - nickeled. This stove comas id three sUss. Prioed, S1O00, S1&SO, SlSdOO

THE USSR OF AN EIIIEZ GAS RANGE

w4Tl hav tha

aaadlest. saslest cleaned, dmrable aas ranga that has

afferad ta the as era of gas. Prtesd $15. fit, $20 up.

"ERIEZ Reflectors ars construoted of the best polished blued steel throughout. Imported Oerman Lava Tips are need, securely set In wrought Iron pipe. One Just An fjj" Use cat, priced .... ValsOU

Voir Sift aid Owrcoalt

THEY'RE HERE $18 and $25 GARMENTS FOR

?15

And classy ones. Whether you prefer a new, nobby, close fitting style with pronounced patterns, or a more conservative model we have them in wide selections, in every size and shape. We are outfitting the best dressers in town and pleasing them. We want you to know the many advantages in buying here. "SAVE THE DIFFERENCE"

Come Here First When you want your dollar to do full duty and what you buy to give entire satisfaction. Come to this store.

Remember! If your purchase Is not .entirely, satstfactory we will refund, replace and repair to make ' you satisfied in your trading here.

1 1,1 -y

GROWN UPS LONG FOR IT. CHILDREN CRY FOR IT.

We are demonstating ELECTRIC CORN POPPER ; i Come In and get a taste of corn. It is better than the old way. You need not be afraid to feed it to children,, as the corn is thoroughly poped and cooked easily digested. All we ask is that you come in and see it, :. - ' -. Richmond Electric Co.

We cannot emphasize too strongly the opportunities we now offer in Rugs, Linoleum and Curtains at prices untouched anywhere for quality, delivered just in time for your Fall and Winter needs. Although we quote only a few 9x12 Rugs, we handle many other sizes, with proportionate price concessions on all. A Great AssorliimcMll Awaits YdDir CM hspetoi

-ROMEY'SBeaulllul Room Size

EU(GS

America's Finest Rugs. Whittall's Wilton Velvet Rugs $45.Q0 9x1 1 " 9-0x1 2-0 Body Brussels, extra quality, especially . $26-75 wear-resisting kind. . ' 9-0x12-0 Oriental Axminster Rugs, new $27-00 designs

This store is able to show the only complete line of Whittall Rugs, In all sizes and colors, In Richmond.

-RO IVilEY'SSpecials on Fine . Floor Covertep 4 ' Fine Wilton Rugs, - worth ypto $32-00 91-WAinster's'$24.00 heavy pile ; Especially selected lot

9-0x1 2-0 Seamless Tapestry Rugs,

closely woven . . . . . . . .

$13.50

Special "Union Ingrains, 9x12

Rugs:

only

$6.50 m

Many wise folks are learning what good "Specials" this stera Is maintaining at all times. . Better values, our hlef attraetlsns." - ' - - ' ' :

, sidsiI mm

Phone 2826. 19 South Seventh St.