tunes in the past few years, of from one to
twenty millions, while at the same time premium-rates have advanced and
dividends decreased.

5th. That under the present methods of conducting these great companies
it is as inevitable as it was in the case of 520-per-cent. Miller or
Mrs. Howe's Woman's Bank, that as soon as they can get no more
insurance, the funds behind the old insurance will be dissipated and a
crash take place such as the world has never known before.

6th. That the companies are "milked" in every direction, through the
purchase and sale of real estate, through the loaning of their millions,
and through the manipulation and investment of their funds.

7th. That they acquire new business at an expense and by methods which
alone will in time wreck the companies.

8th. That in a single instance the New York Life sold securities for
$5,839,087, but its statement under oath to the State Insurance
Departments showed receipts of only $3,075,392.

9th. That the New York Life sold the stock of the New York Security &
Trust Company, which it held, to its insiders for over $4,000,000 less
then they could have secured for it from others.

I have specifically charged other things, and will, as my story
proceeds, make many more specific charges of as serious a nature; but
the above suffice for my present argument, which is, that up to and
including the April number I have made these accusations and that the
only way they have been met is by underhand mud-slinging and by alleging
that the incentive for my attack was that I could not secure insurance
from any of the American companies; and I have met this with absolute
proof, which must stand until it is disproved, that I have been during
the past ten years importuned and urged by the large insurance companies
of America to take out insurance.

Therefore I will leave the question of this million-dollar policy and
other forms of importuning until the insurance companies offer something
in rebuttal.

THE WAY OUT

The overhauling of the Equitable Life exposed conditions far worse than
I had indicated to the public, and it seemed probable that the usual
whitewashing process would be utilized to conceal the guilt of the
rapacious criminals who had been untrue to the most sacred trust that
can be imposed on man. Since that time, however, the Governor of the
State of New York has appointed a committee to investigate the affairs
of the Big Three corporations, and t