The free lance. (Fredericksburg, Va.) 1885-1926, 1905-10-10
GYMS, $4,000 4 YBAR
Pay Roll of Mutual Life Insurance
Co. Shows Immense Salaries.
GOOD THING FOR THE MccURoYs

Big Paying Jobs - Hard to Learn
How Expenditures Are Made - a
Week of Sensations.
New York, Oct. CLOSING a week.
every day of which has produced SEN
sation that has stirred the country, the
special legislative committee lnvesu-
eating the methods of insurance COM
panies adjourned until Tuesday OF next
week While other weeks of the hear
ing have had sensations, no previous
week has had sensation every day as
the one that just concluded.
On Wednesday. when President NC
Call. of the New York Life Insurance
company. was on the stand, ne heatedly
declared that three quarters of the bills
introduced into the legislatures OF the
states of the Union were Matchmaking
measures. and on that ground he ex-
plained the necessity of maintaining
the corps of attorneys. On Ihursday
counsel for the committee, Mr. Hughes,
took another tack and called Robert
n. McCurdy. general manager OF the
Mutual Life Insurance company and
son OF Richard A. McCurdy, president
of that company, to testify as TO the
agency system OF the company, this
feature of the business being under mis-
control. While Mr.. McCurdy was on
the stand counsel for the committee
brought out facts that changed the pre-
arranged course. and the result was the
disclosure of the immense pronts
NEARLY sS.OOO.OOO) derived from the
commissions of the insurance business
In the last days testimony the SEN
sational development was when Mr.
Hughes demanded the pay roll oil the
executive officers of the company. This
was produced and showed the salaries
Of these officers since 1877. For the
year 1904 President McCurdy received
$50. 600: two vice presidents were paid
$50. 900 each: a second vice president
sl7 500: the third vice president, $lO'-
600. and the general manager $25'OOO,
who this year will receive $4,000, and
the treasurer $4,000.
Robert McCurdy said he never knew
the salary of his father until he heard
II read in the committee room. he
thought. however. that there should be
no limit to the salary of such positions
because they should be in accordance
with the accumulations OF the COM
pany.
When asked If 1t was any beneht 10
tie policyholder to increase the presl-
dents salary. Mr. McCurdy said he
thought the trustees had considered
that when they increased the presi-
dents salary. No increase. however
had ever been considered when he was
present at the trustees meetings.
Earlier in the day when Mr.. McCurdy
was on the stand Mr.. 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.
During Mr.. McCurdy's testimony IT
was brought out that George Raymond,
a brother of Charles H. Raymond. was
the general agent for New Jersey; that
Howard Lewis, the general agent for
Northern New York, with an Office In
Albany. was a cousin of either the vice
president Mr.. Granniss, or Mrs. Gran
Miss: that DR.. E.SJ. Moss. the medical
director of the Mutual Life. married
sister of the president of the company,
and that D. Stuyvesant Pilot an in
spector of risks, is cousin OF Louis
Thebaud. son-in-law OF President Nc
Curdy. and partner of the Raymond
firm. G. W. White, a secretary OF the
company. whom Mr.. McCurdy was
asked about. said he was no relative OF
any officer of the company, but that
Mrs. White was a niece Of Mrs. Gran
Mss. wife of Vice President Granniss."
He knew none of the salaries OF these
officers.
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. Mr.. Prillah, was on the stand, and
he was asked as to the method OF re-
cording the expenditures. 1t was gath
cred that these were passed upon by
an expenditure committee, of which
Robert Oliphant was chairman. Three
entries on the books Of payments to
Mr.. OIiphant Of s25 900 each were look
ed into. but no information could be
cleaned. Mr.. Prillah was asked about
the $500 campaign contribution to the
Republican congressional committee
which was disclosed but he said none
nod ooroe ,pdor his observation