Word: ecker
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...before leading Metropolitan's self-made Chairman Frederick H. Ecker onto the floor, Bill Douglas reassured the 64,000,000 people in the U. S. with life insurance policies (45% of them with Metropolitan). Said he: "No policyholder need have any concern that any fact brought out in this inquiry will in any way jeopardize the protection which he counts upon...
Frederick Ecker saw nothing but good in this vastness. Slight, white-haired and precise at 71, he appeared in a natty pin-stripe suit, only a slight trembling in his hands showing his nervousness. When he went to work as a Metropolitan office-boy at $4 a week in 1883, a single investment of $10,000 was big stuff. In his grating voice, Witness Ecker remarked: "I have seen that grow to where ten million is only in the same proportion that the $10,000 was. . . . I haven't fixed in my mind any place at which it would...
There were only two ways, Mr. Ecker admitted, that Metropolitan could stop its growth-not writing any more policies, which would be "utterly destructive to the business," or not adding to its surplus, which would be "dangerous" if mortality rates suddenly rose in an epidemic...
...point Witness Ecker remarked that "the agent in his canvassing-he is resourceful. . . ." One aspect of Metropolitan agents' resourcefulness was considered next day. The Metropolitan is a mutual company, its policyholders being its shareholders and theoretically therefore electors of the management. Bill Douglas set out to show that this was only theoretical, that mutual management was actually self-perpetuating-just as the Armstrong Investigation concluded over 30 years ago. Noting that in the 23 years since Metropolitan shifted to mutual status the management slate has never been opposed, Bill Douglas further noted that at election time it is customary...
...more constructive line? The "Crimson" suggested none. What constructive action, short of enlisting, can Harvard students take to help the cause they believe to be right? The answer is plain: they can only urge their government to act for them-by lifting the embargo. Allan B. Ecker...