The Minneapolis journal., 1905-11-30
RIOT ACT READ
TO Mr.. M'CALL
Continued from First Page.

elimination of McCurdyism from the
Mutual Life. !.
The creation of such a committee in
the New York Life was first seriously
proposed when disclosures were made
few. days ago before the Armstrong
George w. Perkins and the payment Of
$4,000 by Morgan & Co.. to Andrew
Hamilton. 'E .:.
Norman B. Ream Of Chicago, Alex
ander E. Orr and Oscar Strauss are said
to be among the directors who favor
the eradication of all the existing evils
in the New York Life and the abso-
lutte protection of the policyholders ir-.
respective Of what may happen, TO- any
guilty of betrayal of his trust or
wrongdoing of any kind. :5s2e>--- z : =
Should John A. Mccall be forced out
Of the company it Is the general opin-
ion that George w. Perkins will also
be compelled to retire, also the big
crowd Of Mccall relatives, who have
sinecures in the company. r.. =.
Huge Deals with Hamilton. Il:
The magnitude of. Andrew Hamil-
tom 8 financial transactions and the
close bond which existed between the
Legislative agent of the New York
Life and its president, John A. Nc
Call, was further emphasized at yes
terday's session Of the Armstrong in
vestigating committee. 1t was shown:
That between Jan. Is, 1894, and Dec.
9, 1904, Hamilton borrowed from the
NeT n York la sseyrity e s tgo s Trust company co
senting $62,500, or one-half of the
,totaL John A. Mccall was the indorser.
The New York Security & Trust com
pany was owned by the New York
Life, and for that matter it's successor,
the New York Trust company, is prac-
tically owned by the New York Life.
What Hamilton did with all the money
he borrowed from tha Trust company
is as complete a mystery as what he
did with the immense sums paid him
direct by the New York Life on the
order Of President Mccall. A.
At the "House of Mirth.'' i.
,- That Charles P. McClelland, former
state senator and at present United
States general appraiser, acted as spe-
cial counsel for the Mutual Life at g
retainer of $4,000 year from 1896
until 1902, his special work being to
advise the company on all matters of
legislation at Albany. III 1902 he was
elected to the senate and during the
session of 1908, while he was a member
admitted that he lived in the Mutual
maintained ndA by Andrews peVS 6. G. Fields a,
the expense of the company.
That Senator McClelland, in addition
to his retainer of $4,000 a year, re
ceived large sums in excess Of thai
amount from the Mutual Life, the
money always being paid to him in cash
He could not remember or specify any
ice he rendered the company or explain
in any way the reasons for these pay
ments. n
Receipt Disproved Testimony:
That altho Senator McClelland swort
swore fatty that he never rendered any
service, legal or otherwise, to the Equit
| able Life and never received any money
from that company, receipt IN his owl
writing and bearing his own signature
for $500, representing a payment tt
duced and shown him. He admitted thai
the handwriting in the body of the re
ceipt was his and that the signature wa!
his, but he could make no explanation
whatever of the transaction. This re
ceipt was marked OF. Water Account
He declared he did not know what that
mysterious phrase meant.
| Barred from Minnesota.
That the Mutual Reserve Life associ
alton has made it a practice to confess
the death claims put in by benetic1arle'
of policyholders, and as a result OF thest
contests saved $722,OOO between Jan. l
1901, and Dec. 81, 1904. This $4,000
practically came out OF the pockets Of
| widows and orphans. :,
That because of it's refusal to permit
the insurance departments OF a number
| of states to make an investigation OF
| its affairs, the Mutual Reserve has beer
barred from doing business in Minneso
ia, Illinois, Kentucky, MASSACHUSETTS,
| Louisiana and California. Its License
| was also revoked by Wisconsin, but II
was subsequently permitted to resume
business in that state.
Volume Of Testimony.
The Armstrong committee, at a con
ference tonight, in which all Of IT.
counsel took part, decided that it wonl(
| be necessary to hold public sessions VI
| to Dec. 81. The committee will sit hv'
days during the holiday week between
Christmas and New Years. It. Is tn
purpose to complete the investigation
by Dec. 81 and then begin the prepara
| ton Of it's report to the Legislature
which will be hard task.
! Already 1000 typewriter pages @
testimony have been taken, averagin'
| $50 words to a page, or total of l,75O,
900 words.