The Birmingham age-herald., 1905-12-21
COMPANIES ARE STILL
 BEING INVESTIGATED
(contlnued from First Paee)

kOO0LlnuC0 ITofn .lTSt Fd9CI ->~~~~~~~-~~~~~~-~~ -~~S~~--~~~~~~~~>~>->->>>> he expressed he understood to be same as those of the finance committee.
 No Political Contributions.
 Cornelius Doremus. president of the Ger mania Life Insurance company, a stock company, followed MT. Tatlock. He has been president for seven or eight years. His company was organized in 1860. His company's stock was $200000. His com pany has out 6S.000 policyholders. At the last election 15,O00 policyholders votes were cast by the president vice president and treasurer as proxies. It has never made political contributions. In May 1894 s250 was paid a share in legislative work on the lien bill. The company also paid $500 for counsel fees in connection with the mortgage tax law. The company has about s1o, ,00o,00o invested in negotiable secu rities, nothing in stocks, s3.000,000 in real estate, $500,o00 which Is the value of the home building. Another building cost about s7Ooooo. A building in Berlin cost ,s41, another in Vienna s1so,799.
 MT. Doremus said about one-third of the company's business is done in Europe. The headquarters Is In Germany and the company's business in Germany.
 He said that business in every respect is better in Germany than the business done in this country. He said the Germans were not educated to our wild methods of doing business.
 Wild methods" MT. Doremus said. twas paying too much for it.' Relating he said was unknown in Germany.
 E. G. Potter, real estate agent, took the stand and testified that he received the $25O contributed by the Germania com pany in May, 1904, in connection with the passage of the lien bill. Others contri- buted to the legal fund for this purpose MT. Potter said. and in al, he received about 5000 which was paid to William H. Buckley, an Albany lawyer MT. Pot ter explained that his reason for employ ing an attorney was because he had been informed that there was opposition to the bill Chairman Armstrong suggested there might have been opposition out side the legislature. and witness said there might have been, but so long as the bill passed it was 5000 well invested.
 MT Doremus then resumed the stand. He presented a scale of commissions paid on policies by the Germania life, and a statement of legal expenses expended during the last ten years. According to the statement no payments were ever made to Andrew A Hamilton or A. c. Fields and nothing for legislative engineer ing. 3s
 Distributed Dividends.
 John Fuherer, actuary of the Germania, said for years the company had distribut ed annual or deferred dividends with the exception of 10 per cent which is re- tained for q contingency. It was brought out that the Germania annually makes up a report for the German government, separate from the one which 1t makes to the New York state insurance department The report of the German government Is a full and complete report. carried out to the smallest detail and covers the en- tire business of the company in all coun- tries.
 To the state insurance department the report is complete as far as the depart ment demands, which is not in as much detail
 Richard Morgan. a director of the Bank CTS Life company of the city of New York. was called. He was formerly pres dent of the company. This company was first started as a fraternal order among bank clerks It then became an assess ment company and in 1893 began to do a general business. MT. Morgan said that Henry P. Wisley, president of the Life Association of America was dismissed to general management of the Bankers Life in 1897 after an investigation of charges that he had deceived the policyholders and had endeavored to get control of the com- pany.
 The Bankers Life was incorporated as an old line company in 1899 This is the company of which the Knickerbocker In vestment company secured control and which was put into a voting trust.
 At this point E. L. Bailes. treasurer of the allied real estate interests that fought the passage of the mortgage tax bill and for which purpose the Germania Life contributed $500, took the stand, detailed I the collection of this fund which amount ed to so2 o00.
 Adjournment was taken with the ex- animation of the Bankers Life still un- completed.