The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-10-08
MONEY STREAMS
INTO GOLFERS OF
TWO FAMILIES
McCrrdys and McCal1s Reap Rich
Reward from Life Insur-
ance Business.
HYDE IN DANGER OF
EXILE FROM GOTHAM
Cortelyou Will Stick to Post and
| Meet Campaign Fund
/ Charges.
New York Herald Special Service.

New York Herald Special Service.
! New York, Oct. THE family Of
Mccurdy got its fingers into the treas
pany more than half a centuray ago,
and ever since then the stream Of
money has been trickling steadily into
the families .capacious pockets. At
first the stream was tiny and modest,
but as the millions of money rolled in
from policyholders the McCurdy leak
increased in size, and now it is yield
ing an annual food Of gold.
One Of the most remarkable features
of this family fortune is the manner in
which it has been kept from public
knowledge. John D. Rockefeller with {
all his aversion to public print and his
sealed lips is an open book in his daily
life and transactions compared to the
McCurdys. j. P. Morgan, who is
never interviewed, is voluble gossip
alongside of Richard A. McCurdy. The
home life of a recluse could not be less
the affairs of the Morristown family
colony Of McCurdys. Search Of books
on noted New Workers, examinations of
biographies, reference to newspaper
files all reveal the same story of ST. .
lence and ignorance concerning their
history.
Barrier Of Secrecy.
It is one Of the astounding things of
New York Life that a man for many
years in an elevated position of public
prominence, whose name is advertised
in connection with his business from
one end of the country to the other,
could Maintain barrier of secrecy
about This person and, his company.
That old fiction Of eminent respecta-
bihty guarding the savings of widows
and orphans stood around the life in
! surance managers for generations. The
revelations of the past week before
the investigating committee stripped
| away the last shred of that blind before
| and leaves the McCurdy family naked
| to public gaze.
| The Mutual Life Insurance company
was founded Feb. /, 1843, by Morris
Robinson, who became it's first presi-
dent.
Enter the Mccurdys.
| Some years after the formation Of
the Mutual, The first McCurdy became
i connected with it. He was Robert 81.
1 McCurdy, man of some prominence in
! New York affairs.
Richard A. McCurdy, his son, was
born in New York city 1885, making
him, therefore, 70 years old at present.
! AO Jul was SOuG W I1dTtdFu, where ne
was graduated. Then he studied law
and was admitted to the New York bar
in 1856, when he had just come Of age.
4 just about the time Henry Hyde was
! leaving the employ Of the Mutual to
found the Equitable, the young lawyer
obtained his first hold on the Mutual
i treasury as legal representative. In
1860 he was appointed its attorney, and.
i five years later he was made vice presi-
dent.
Mccurdy's First Salary.
Three presidents came and passed
4 away during Mr.. McCurdy's long SER
vice as vice president and finally, in
4 1885, he became head of the company,
and the family was installed in power
i His personal salary at first was rela-
| lively modest 100000 year, altho large
enough to cause comments Of an inves-
tigatfng committee in 1887. For twenty
years now, Richard A. McCurdy has
been the dominating force in the Mu-
i tual, as John A. Mccall has done the
New York Life, with an autocratic one
1 man power.
The first family connection to enter
/ into the rich pickings of the company
was John A. Little, whose sister Richard
q A. McCurdy had married when he was
a young lawyer. Mr.. Little was the
& founder Of the agency firm now known
& as Charles II. Raymond & Co., which
q controls all the business Of Greater New
York for the Mutual. Originally the
firm was known as Little & Raymond,
but after accommodating a large fortune,
81 Mr.. Little went to Paris to live, and
there he died two years ago, leaving an
estate valued at 100000.
Enter Young Mccurdy.
s. After Mr.. Little's retirement Robert
H. McCurdy, son of the president, be,
: came partner Of Mr.. Raymond, and
! when he finally obtained a more profit
able berth as foreign agent, with per-
|: centages from all of Europe, and later
: general manager of the company, his
pIace in the firm was taken by the next
in line. Louis A. Thebaud, who hat
leloped with Miss Gertrude McCurdy, a
sister.
In the meantime another relative, DR.
Elias J. Marsh, brother-in-law of Presi
dent McCurdy, had become medical ex
aminer Of the company, with large
salary. In recent years a more dlstan
connections, Peter Stuyvesant Pilot, {
cousin Of Mr.. Thebaud, was let int,
the privilege Of family profit as spe
cial agent of some kind. Mr.. Pillo
was at one time rather prominent il
society, his OWE FAMILY belng claSSe'
! among the old New Workers.
Withdrew With Riches.
Having secured their enormous in
!: comes from the Mutual, the McCurd
: family withdrew itself from the gaz
and comment of city people. The.
) made no attempt to entersthe ranks Q
the so-called four hundred or to dazzl
Fifth avenue with wealth. They hep
9 the secret Of the goose that laid tn