The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1877-04-06

SoUU upon sumo property To the Cnar-
ter Oak Insurance Companyi he received $1,000 In
money for IT, leaving tho $500 600 that was needed to
make the Charter Oak good my pay forthc mortgages
was SIMPLY commission OF seven und hall per cent
upon tho receipts OF the Charter Oak Company; the
receipts arc over 81, 600 900 year; the compact for
this mission cancelled when the amount have
advanced returned to me; Witness upon making the
arrangement, became financial manager and Mr.. Wig
gin became president Of the Charter Oak.
LAPsED POLICY HISTORY.
julius Hillborn Of New York, testified that upon
application TO the New York Lille Tor loan OF $40 900
or So 900 real estate lie required to take
policy Tor $50 COO. from which they deducted the pre-
mum OF some 81, 300 and charged him $500 Tor
the search q Tie lite TO his propcrty when no found
himself unable 10 keep up the premiums he asked TO
surrender his policy Tor paid up one, but they
iusod to give until he mado another premium pay
mcnt. winch would have amounted TO more than tho
amount OF money 10 be paid on the surrender; the
transaction was with Mr. Beers, Mr.. Barton and tho
general agent; at the expiration OF the trst year he
had allowed the poi.cy TO lapse.
"A recess was then taken until four o clock.
EXPENSE EQUITABLE BUILDING.
After tho recess Theodore Weston testified that he
architect OF tho Equitable Building; the work
commenced In May, 1874, and was completed July,
1876 the leases commenced In May, 1875 the orgi-
nal Office OF the Equitable was separated from tho
man building and It's completion wus delayed; there
Is restaurant in tho buildng Dcmonico's adioins
IL the actual expense OF putting up the main building
ABOUT 81 500, 600, including the land tho addi-
tona building about 81 600 900 witness received
were drawn by Mr. Kendall he had not tho
plans before the building Was commenced; tho inter-
nal arrangements were LEFT entirely TO the preliminary
the material 10 my knowledge; furnished statement
Of expenditures TO the Building Committee OF tho
Equitable at almost every meeting; Mr.. Lambert
chairman OF this committee they had meetings three
times week; tho plans wore submitted 10 them. and
the contracts made by their direction upon
mates made by Witness upon the larger contracts bids
were advertised Tor; all payments made
by approval OF the committee; Siiman 4 Cheney
the contractors Tor tho stone; they bid SOS, 900,
think; !: was the lowest bid Of seventeen II ran
little So per cubic loot upon the granite actually
furnished; the granite was measured by myself;
commission consideration was paid the contract
the contractor Tor the masonry work. who cut the
stono, was T. r. smith his work was lot in the same
way, ut SIS per LOCO loot OF brick and
50, or nbout that, for setting tho granite that
incuded pay for every thing; he was paid nothing
more; else received any gratuity on account OF
tho contract he did the nreproof wall In the
and the pasterng; Tor tho first he received forty
nifty cents and Tor the last orytwo cents per square
yard Morton and Chcsiey did tho carpenter work Mt
about $65, 900 no gratuity nor commission allowed
any one on any work; number Of contracts were
made for the elevators for the boilers, Tor the SUBJ
cellar Tor taking down tho old building and Tor other
purposes the entire work cost about ST. 600 000 and
upon II bonus commission was PAID to any one,
nothor TO officers, directors, nor any ono else; the
granite contractors furnished about 81 500 worth OF
work for Mr.. HYDE subsequently, this was used In