The Temporary National Economic (Monopoly) Committee, which fortnight ago was entertained by SEC Chairman William O. Douglas' smart display of the insurance industry's enormous power, last week heard Bill Douglas try to prove that insurance directors use their influence to swing business their own way. Evidence: 1) while a director of New York Life, Alfred E. Smith solicited fuel oil contracts for certain of its properties; 2) Mutual Life's deposit at Bankers Trust Co. jumped from $150,000 to $1,500,000 when Bankers Trust's President S. Sloan Colt became a director; 3) the...
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