The Birmingham age-herald., 1905-10-07
Says High Salaries and Big Commissions Arc Rewards
 forLags Achievements
PRESIDENT OF MUTUAL IS
 PAID $15O,OOO ANNUALLY
Three Mysterious Expense Entries of 325,000 Each Are Unearthed as Having Been Paid About Time
 of Presidential Election.

New York, October 6.-Closing a week, every day of which has produced a sem saton that has stirred the country, the special legislative committee investigat- ing the methods of insurance companies adjourned today until Tuesday of next week.
 While other weeks of the hearing have had sensations, no previous week has had sensation every day, as the one that was concluded with todays session.
 In today's testimony the sensational de- velopment came when MT. Hughes de- manded the pay roll of the executive of- f1cers of the company This was produced and showed the salaries of these of- ficers since 1877. For the year 1904 Prcsi- dent McCurdy received S15O,O00; two vice. presidents were paid $50,000 each, a sec ond vice president $17,500; the third vice president s1oooO, and the general manager s250oo, who this year will receive 5000. and the treasurer s50,000.
 Never Knew Fathers Salary.
 Robert McCurdy said he never knew the salary of his father until today. when he heard 1t read in the committee room He thought, however, that there should be no limit to the salary of such posi- tions because they should be in accord ance with the accumulations of the com pany.s
 When asked If 1t was any benefit to the policyholders to increase the presidents salary, MT. McCurdy said he thought the trustees had considered that when they increased the presidents salary. No in crease however. had ever been considered when he was present at the trustees meetings.
 Earlier in the day when MT. McCurdy was on the stand, MT Hughes tried to bring out why c. H. Raymond & Co.,, and the partners In that firm, received larger emoluments from the business than any other agency. MT. McCurdy said he did not know what MT. Thebaud received from the business, and had never talked with him about his personal affairs He said it was large reward for large achievements" and that all businesses of large magnitude were built upon that principal.
 Takes Care of Relatives.
 During Mr. McCurdy's testimony it was brought out that George Raymond a brother of Charles H Raymond, was the general agent TOT NeW jersey, that HOW ard Lewis, the general agent for north ern New York. with an office in Albany, was a cousin of either the vice pres- dent, MT. Granniss, or Mrs. Grannise; that Mir. p. J. Moss, the medical director of the Mutual Life. married sister of the president of the company, and that P. Stuyvesant Pilot an inspector of risks, is cousin of Louisa Thebaud, sister-in- law of President McCurdy. and wife of a partner Of the Raymond firm. G. W. White. a secretary of the company, who ! MT. McCurdy was asked about, said he was no relative of any officer of the com pany. but that Mrs White was a niece of Mrs. Granniss, wife of Vice President Granniss" He knew none of the salaries of these officers.
 Mysterious Entries Fund.
 At one point in the days testimony much interest was manifested when the expenditures of the company were taken up. An auditor of the Mutual Life, c. M. Preller, was on the stand, and he was asked as to the method of recording the expenditures. It was gathered that these [, were passed upon by an expenditure com mittee. of which Robert Oliphant was chairman. Three entries on the books of payments to Mir. Oliphant of s25.0Oo each were looked into, but no information could be gleaned. MT. Preller was asked about the campaign contribution to the republican congressional committee which was disclosed yesterday. but he said none had come under his observation
 The $25O0 paid the congressional com mittee was looked for when the ledgers wre produced. but up to adjournment this afternoon this had not been found.
 Mccurdy Again on Stand.
 Robert H. McCurdy, general manager of the Mutual Life went on the stand immediately after Cornelius C. White. an auditor of the New York Life Insurance company left 1t, making a correction in his testimony relative to the S5.o00 pay ments to Andrew Hamilton, the lawyer. in 1904. He said that the $141077 received by Hamilton in 1904 included the $75,Ooo which was charged to state taxes
 MT. McCurdy said that the proportion of his commission on the foreign bus mess paid to c. H. Raymond after he left the firm of H. c. Raymond & Co., would be presented in a statement now being typewrftten.
 The salaries of the Mutual Life Insur- ance company's office the witness said were fixed by the financial committee. He did not know the salary of the president nor did he know that anybody did be- sides the president. He did not know that the finance committee ever fixed the pres- ident's salary. Witness said he as gen. eral manager made all contracts with agents The general agents on the same plane as c. H. Raymond & Co. number seven in the United States. two in Can ada and one in Mexico. All the foreign agents are general agents There are seventy-hve salaried agents aside from those who besides salary receive commis- sions on first year premiums but no re- newals The highest salary paid to these is s10000 paid to the general agent al Chicago
 Witness then detailed the changing of the agency system from that of the gen. eral agencies with commissions like the Raymond firm to that of salary agents