Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1905-10-19
INSURANCE PROBING.
President Mccall of the Mutual Be-
fore the Committee.
Thu, WITNESS BECAME VERY ANGRY.


TOURNAMENT Ok tu6 AVblpt3tA'O S"s
tee. taken because Of the death las
week Of s. Fred Nixon. speaker OF tn
assembly Of tho state Of New York
was most exciting throughout the en-
tire day, and only the repeated threat
Of Senator Armstrong, chairman Of thu
committee. to clear the room prevent
ed violent demonstration of disappro
baton Of the witness, who was Rich
ard A. McCurdy, president Of the MI
tual Life Insurance company. AS Il
was, however, there were jeers at sew
eral periods of the days testimony
that temporarily interrupted the ,tes'
timony. These came when Mr.. Hughes
the counsel for the committee, asked
questions that Mr.. McCurdy was re-
! luctant to answer, or evade. and were
| made by the crowd that stood at the
back of the room, which long ago prov
ed Inadequate to accommodate the coun-
sci and witnesses summoned. and the
crowds Of spectators that increases
| WlLn every nearing.
Where this important Investigation
is going to lead, or where 1t will end
has caused no small amount Of con-
lecture and, doubtless, in some quar-
tiers anxiety. With the many threads
that have been taken up and dropped
before they have been followed to their
ends, In order that some new lead may
be taken up, and with the additional
features that are disclosed with al
most every days hearing, the inter-
est grows more intense.
In Mr.. McCurdy's testimony fea-
ture entirely new was disclosed, and
this was that the Mutual Life Insur-
ance company employed a literary bu-
reau to send out to the press of the
country news matter that was of bene-
fit to the company.
Mr.. Hughes announced that the COM
mittee had received large number Of
letters relative to the dividends on the
policies Of the Mutual Life Insurance
company. Some of them Mr.. Hughes
read to the witness, saying those he
read were from policy holders in New
York city. One writer who had taken
out a policy in 1865 for $4,000 on the
ten payment life plan said his dividend
in 1876 was $55.76. In 1881 1t was cut
to $50; in 1891 1t was reduced to 500,
and in 1904 to So. This, the writer said,
was in the face Of the reserve increas-
ing year after year. ,4 5S
MIR. McCurdy said Mr.. Hughes had.
the wrong witness. It was the actdary-
he said who looked after tie calcula-
ton Of dividends. Had he been not
iAed day ahead he would have been
fortified with this information.
Mr.. McCurdy complained that this
investigation was going outside Of
what was contemplated when the COM
mittee was appointed by. the legisla-
ture. He said he understood this was
to, be ap examination Of insurance
methods not an inquisition.
Mr.. Hughes replied that Il waH IN
deed In inQuisltion.
I'VE will have occasion TO cab
yOuP actuary but you have been in the
insurance business for 40 years and I
want to learnS what you know about |
your company" said Mr.. Hughes. you
are its president and receive $4,000 |
in salary. l want to learn for what |
you are responsible" "Youare trying 10
prove me fool" the witness retorted.
without commenting on that which
Is obvious, let me ask you to tell US
10 the best Of your ability some Of the
lines on which your company is con-
Quoted" said Mr.. Hughes.
Mr.. McCurdy insisted that his actu-
Ary must answer the questions on div
idends paid and how they are calcu-
lated. He declined to enter any expla-
nation further than that the policy
holder above referred to had a reduced
rate policy.
1t developed at Tuesdays session of
the insurance Investigation that the
Mutual Life Insurance company pald
house rent at Albany for A. G. Fields,
an employe Of the company. during the
legislative session
Richard A. McCurdg, president Of
the company, testified that Fields was
In Albany on legislative matters. Mr..
McCurdy said he did not know Andrew
Hamilton, of Albany and was sur
prised to learn that the Mutual Life
Insurance company had paid money to
Hamilton.
New KinE eOf Norway.
christiania Norway Oct liking
oscars oficial refusal Of the offer Of I
he Norwegian throne for a prince Of
he house Of Bernadotte Is expected
tuesday. when the government win i'm
ask the storthing to author
re an invitation to Prince Charles Of
Denmark 10 become king. It Is said
hat the reply will be favorable and
hat Immediately on its receipt the
Itorthing will proceed to his election.