The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1905-11-11
|HEGEMAN ON
THE STAND
Metropolitan Life Paid It's
Little Contribution.
TO DEFEAT FREE SILVER
President Said Ne Thought Pay.
msnt Of Company Was
JusiiIiabls.

NEW YORK. Nov, ll-Ahdt iinuill'
ton. who handed The yellow dog
fund u the New YORK i.ife. acted also
a. Legislative counsel for the Metro
poiltan ilfe.
Between iko2 aud 1904 tie Metro
poilan Life paid Andy Hamilton ssa'
30 Tot personal legal services al A.
hany aud Ia other capitals. out 81 this
money be paid "asslstan, counsel"
Tho Metropolitan LIES record of
political contributions Il unique. &c.
cording 10 john u. iiesoman. u never
gave but two. Thess were Ia issJ-one
% 5000 20 tho Palmer and Bucsncr
people and $500 10 the national Rs'
publican committee.
All this testimony on tho subjects Of
the Hamilton payments aud the po.
iltical contributions came from prssl.
dent flegenan at the Insurance invss.
ilgatlon here.
The board OF directors" said he.
felt justified IN giving funds toward
the defeat of tho ~ 10 failacy. Tho
Metropolitan IA q stock company. and
u was considered that the contribu.
lions should be made In justice to the
stockholders The difference In the
amounts IL explained by our estimate
Of tho effectiveness OF each party NJ a
working force-what Palmer and Buck.
nsr could do aud what the Republican
party could do TO defeat the threaten.
Ing issue"
The case OF q man who was insured
In the Metropolitan In 1858 for $3.50
vas put up 90 Mr. Hcgcman. The In.
sured paid sis premium n year until
1850. when the premium wss increas.
ell 10 $3.50 year. SO far 500 has
been paid into the Metropolitan by
this man. who at the best can get only
sise. An agent once offered him $40
for the policy.
Hegeman couldn't explain the case.
He doubted that the fncts ss related
were true.
The Metropolitan Life lent William
A. Reid between May. 1901. and July.
1904. s2O0.OO0 and 100000. The In.
terest rate was never more than 2 per
cent and more often III per cent. The
market call money rate In May. 1901.
ranged from 2 10 9 per cent and 20 o
for banks and trust companies.
How do you explain. Mr.. Hege-
man, your letting William A. Reid
have money below tho market rate?"
"All I can say is that Mr.. Reid has
always been helpful TO the company"
William A. Reid was formerly
member Of vermilye & Co.. which until
a few months ago was the banker Of
the Metropolitan. There came a split
in the firm. and now civilian A. Reid
& Co." are the bankers.
Later II was shown that President
Begeman has had running personal
account" with VcrmiIye 4 co. In this
account. Hegcman testified. were funds
OF widows. orphans and people abroad
retired from business"
Members OF vermilye q Co. related
interest on the account TO him In per-
sonal checks. He didn't know why
and had never asked any questions.
For the past twenty years vermllye
* Co. have monopolized the vast finan-
cial operations Of the Metropolitan
Life.
Thomas +. Ryan was assalled from
the witness stand by William Barnes,
Sr.. father of the Republican leader
Of Albany, who said that the Equitable
Life Assurance society was today
struggling under Il one man power just
as much as when james Hazen Hyde
or his father was in control.