of millions more than necessary.

2d. The policy-holders have been robbed of scores of millions.

3d. The vast funds now on hand have been habitually used by the grafters
now in control of them in the rankest kind of stock-gambling.

4th. These funds have been used to corrupt the ballot-box and the
law-makers of the country.

I repeat, absolute proof of all this has been made public.

It should now be evident to all that:

1st. The funds now on hand are in actual jeopardy, because they are in
the absolute control of unprincipled scoundrels.

2d. Unless something is done, and done at once, by the policy-holders,
each and every one of the largest companies may become insolvent; that
is, they may not be able to meet the engagements of their policies,
because of waste of funds, tremendous falling off of new business,
tremendous cost of new business, and the nature of the new
business--so-called "graveyard business"; for I am credibly informed
that they are now seeking to insure those who formerly have been refused
insurance because of physical infirmities.

It should also be plainly evident that, if the policy-holders move, and
move quickly, they can be absolutely assured that:

1st. The funds as they are to-day will remain intact.

2d. They will be added to by the restitution of from $75,000,000 to
$150,000,000.

3d. A score of the thieves who have plundered policy-holders in the past
will be sent to prison.

4th. The future payments of policy-holders will be largely cut down.

5th. The present swollen surpluses will be returned in large part to
policy-holders.

6th. In the future policy-holders will actually run the company.

7th. All policy-holders can be assured that in the future they will
receive the actual worth of their policy at surrender.

All this being so, it is most eminently desirable for policy-holders to
act, and at once.

The time will never again be so opportune, for if nothing definite is
done now, policy-holders will be discouraged for all time.

I have given the subject the closest and most earnest study, assisted by
the best insurance experts and lawyers procurable, and guided by the
suggestions of over 100,000 policy-holders, for in addition to the
16,000 mentioned, I have received over 90,000 letters. I have come to
the conclusion that the one thing for policy-holders to do now is:

To authorize some one in whom they have confidence to select a committee
to take their proxies a