The sun. [volume] (New York [N.Y.]) 1833-1916, 1882-04-23
INSURANCE GRAVEYARDS.
THE ASSEMBLY COMMITTEE PONDER
IN0 THE UNDERTAEERy FEES.
Mr.. McCurdy Denies that he Got oa5, 900
for Five Mtautes W ork. or that the Money
Came from any Company-Henvy Biiis.

Mr.. McCurdy Denies that he Got Gas, 900
for Five Miautes' w ork. or that the Money
Came from any Conpany-Heavy Bills.
yice-President Richard A. McCurdy Of the
Mutual Life was the first witness called BY the
Assembly Committee on Insurance Receiver
ships yesterday. He was asked II ne had to do
with the union OF the Mutual Protection Life
and the widows and Orphans Life.
Il want to say right hero" he said. that
Receiver Persons statement that / received
$4,000 for being . mere stakeholder between
these two companies Is unaualinedly false.
My counsel also advises me that an inquiry
Into what has happened years before receiver
has been appointed Is not embraced In the du-
ties OF your committee"
Well. we don't care about going too deep
into that" said Assemblyman Erwin. What
we want TO know Ii whether you received
$2S 600 g. q stekeholdeE, for tho transfer Of tho
don't come within The Scope 81 your r. duties to
INQUIRE into what happened years before Mr..
Yes | DO. Now, am advised tina. shall
Pierson has brought against me ca and others,
and don't want to injurS the Interests p
Or data Sstors me. which may Be used to theif
M; MSGa5dy then testified > a. q follows; u :,
D aS the he aSs snd 70
IL GssSr 70 to pay
could secure all the stock. Nearly every stock:
holder accepted the ofrer Of par and accrued
ssosf ws sssessSSSSo'y all did The
What was your relation to stockholders :"
How many were theyi Several hundred p
Woli.I don't know exactly how many. I
i've q thfss bsm
GAINS 1 was a STAKEHOLDER for nYe minutes,
tel him 50 70 bis face 0 Free iurnisHsd the
money from the Mutual Protection to purchase
The sS out sPS g. 81. oWn pSsss paid
beeR reia i, VI in the North America u
Why was 30 unusually large sum as
s25, 900 paid for such q negotiation
dollar be- had In the world was invested in e' ths
Mutual Protection. He had 100000 invested.
and his p and biz brother
he thought that il he could acquire the stock
duced and the assets Of Course. comSnedS "
Lucius McAdam testified that Judge West,
pecS IN the
Did you get anything out OF the CONT
Ny total claim was s3.1l5 and disburse-
ments.. You ask as il you were comparing q
lawyers fees to q 'longshoreman's."
We aren't comparing anything We want to
know what you got. How much in addition
will you get from the policy holders 2"
was TO get twenty per cent In some cases.
q, COO NV '''' lo'''' Aa' 80 WV" "
| company on some claims and lost 1t on others,
and yet you charge the company for all. and
Hore g long list Of bills was produced Of
which f750 aDDeared to be for drawing n
paper Of some kind. half On hours argument.
a letter to Judge Westbrook, and an inteTyiew
was long list Of charges for examining and
receiving papers. Major Haggerty asked:
DOT they receive q
Well. they do in those insurance cases." re-
piled Mr.. McAdam. We have to mako out an
itemized bill"
"wen. am not surprised at anything con;
nected with insurance matters. II you had
charged t25 for chuoking paper into pigeon:
hole ]. wouldn't have been astonished." said
Major Haggerty as he put on his hat.
The committee will meet again next Friday.