New-York tribune., 1905-12-29
g MCURDY MADE OFFER .
Objected to 1dmtittGmce of PrqDssiar,
Companies, Mr. CGdg Says.

Richard A. McCurdy was mentioned again
in the testimony taken before the Armstrong
committee yesterday. Mr.. McCurdy was not a
witness himself and It is not likely that he will
be asked to appear again to explain the testi-
mony of J. Rider Cady. because Of the press
OF work for the committees four remaining ses-
sions Mr. McCurdy's name came up in the
testimony of Louis F. Payn, who told Of his
dealing with various Prussian companies. and
their final admittance to do business in this
State against the will of Mr.. McCurdy. And in
connection with this he told Of employing ].
Rider Cady as his personal counsel. because of
his lack of confidence in the Attorney Generals
Office.
When Mr. Payn finished. Mr.. Cady was called.
He told Of visit TO Afr- McCuTdy in response
to a request of Mr.. Payn. 1t appeared that Nc
Curdy wanted to see Mr.. Payn, but that the
latter was unable to come to New-York at the
time, and asked Mr.. Cady to represent him. Mr..
Cady said he was directed by Mr.. Payn to
tell Mr. McCurdy that it had been decided to
admit the Prussian companies. and that Nc
Curdy was indignant that his views had been
ignored He seemed considerably worked up.
Mr. Cady said, that man of his position in
the Insurance world should be pointedly ig-
nored Then he worked around gradually to the
question of Mr.. Cady's relation with the Insur-
ance Department In Mr.. Cadys words. the
conversation continued as follows:
I said, MY relations ara simply those of
counsel who is consulted from time to time upon
matters upon which the superintendent requires
legal advice" He said You are not an ofn-
cer2' I said No. rot an officer of the
state He said. rs there any reason Why you
should not accept retainer in behalf OF the
Mutual Life upon this question:
said "Mr. McCurdy, there is every reason
why I should not accept retainer in behalf
Of the Mutual Life. While I have not been
counsel in this particular matter in which the
decision Of the. superintendent has been made
nor consulted by the superintendent as to what
decision should be made by him in the dispo-
sition of it. I have yet been requested by him
10 come here and have the interview which 1
have had with you. and regard myself to that
extent as his representative and to such an ex-
tent as to make it seem impossible for me to
consider the proposition of being employed by
or taking retainer from the Mutual Life"
Further, I said More than that, Mr.. Nc
Curdr regard the question closed"
MR.. PAYN DENIES CHARGES.
Before Mr. Cady was called Mr.. Payn had
ea1onded himself against various insinuations
N regard to the State Insurance Department
under his control It had been charged that
for $4,000 the Mutual Reserve was allowed to
edit the report which Mr.. Payn's department
made on the company. Mr.. Hughes called these
statements to Mr.. Payn's attention ,and asked
if they were true
The old man rose in his chair. at the time"
he said, "I told the newspapers had no COM
ment to make. and now I tell you that it is
absolutely false in every particular"
Was any payment ever made to you or to
any one connected with your department."
Mr.. Hughes asked.
Absolutely no." replied Mr.. Payn. and again
he rose: and if any man who walks the earth
came to me and made such suggestion he
would have been fortunate if he got out Of my
presence with a head on his shoulders
Mr. Payn's remarks caused q stir in the au-
dience.
Frederic Cromwell and Adrian Iselin appeared
at their own request TO explain their connec-
ton with the transactions in Lawyers Mortgage
stock by various Mutual trustees. When these
transactions first became public Mr.. Cromwell
could not remember that he had ever had any
Lawyers Mortgage stock, but yesterday he
testified to taking one hundred shares the
recommendation of Mr. Haven and Mr.. Juilliard
and selling it when ne got ready. In reply to
q question by Mr.. Hughes he said that the saw
ing TO the Mutual under the new order Of things
would amount to about 81 10000 a year He
said that the company would withdraw from a
great deal of foreign business. and especially
in France, as that country required it to make
s25OO0000 deposits TO continue business there
Mr. IseIin, though he Is a member OF the
finance committee and agency committee Of the
afs1tuaI, admitted that he knew little about
either. He said that he did not know the salary
Of Mr Mccurdy until Ii was brought out in the
Investigation.
Robert H Hunter. of the State Insurance
Department, said that he had caused the dis
charge by the Equitable Of Dr. Powell against
whom he was active politically in Poughkeepsie
EMPLOYMENT OF Mr.. CADY.
The day opened with Louis F. Payn the
stand on the question Of his employment Of
J. Rider Cady as his counsel the testimony
was:
Q-Did you consult The Attorney General in re-
gard 10 employing counsel2 A--No =
Q.-How many men did you employ counsel2
A--oh two or three among them J. Rider Cady.
Odd you nor take advantage of the Attorney
Generals Office? Al DO not wish 70 speak dis
respectfully Of State officers, but my experience
Continued third