The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-10-06
JEROME TO TAKE
UP THE SCANDAL
OF the Life Insurance Companies
to a Special Grand Jury
SHOCKING REVELATIONS
OF THE EQUITABLE ouTDoNE M
RECENT INVESTIGATIONS
MccuRDY REAREn RICH
HARVEST. A


New York. Oct 5.--That the as
founding total of more than s2,eG0,eO6
has been paid as commissions by The
Mutna1 1.ifa to- two members 81 the
family of Richard A. aTtcurdy. presi-
dent Of the. company, and the prom "a
| of District Attorney Jerome that the
| insurance scandals certainly VII be
submitted later to an extraordinary
grand jury were the sensational de.
veopments in the insurance situation
| today
! II was brought out by testimony be
| fore the legislative committee that
Robert H. McCurdy son of Richard
| A. McCurdy, has received as commits
sionsl on fore gn business 81, ,t63, $50.
! on domestic bus ness $541,S52. and
that Lewis Thebaud. son-in-law of
Richard A. McCurdy, received an ag-
gregate Of $a201t3 commissions from
the company. Ii was also brought out
that Robert IT. McCurdy expected his
income this year would be about
/ $4,000.
Previous to this testimony w r..
ThummeI attorney Of the Mutual Life
testified he had paid to the chairman
Of the republican congressional cam
paign comm ttee $2,500 cash as cam
paign contribution. This was made he
said because Of the DANCER Of election
of a democratic house, that would re-
suit in tariff and other legislation Of
! a character TO upset business and
effect the policy holders.
He said other companies had been
asked to contribute but he did not
know how many did So Thummel
J also told OF a pool of the companies
Ito hook after legislation and how the
territory was divided for this pilr-
Epcse.
Jerome IN announcing In court that
tho scandals Will be submitted TO an
!. extraordinary z and jury, said the en-
/. quiry by the legislative gnvernm mt
! has shown great moral obliquity and
4 neral obiuseness on the part of per-
sons important in the bueinosei world
! han did the shock ng revelations In
regard to the Equitable Life
Another incident of the days de-
yelopments was the publication OF a
letter from Charles T. Hughes, coun-
sci Of the Legislative committee TO
Samuel Uttermeyer, counsel for
4 James H. Hyde, fcrmer controlling
stockholder of the Equitable Life in
which Hughes said the comm ttee
would make no discriminat on 10 favor
Of Hyde In his examination before the
committee
s The chamber Of commerce at its
/. meeting today adopted a resolution
D declaring that additional legislation
necessary for proper regulation of
the life insurance compan es,
Robert H. McCurdy opened his tas-
timony with general statement of his
e career
IT McCurdy started in the company's
A. foreign business in 1885 and assumed
" the office OF general manager in 1908
g. at salary of 100000
b. The most startling part Of Me
a Curdy's testimony was made just be-
g fore recess when he submitted the
statement of profits, or revenue from
IN his contracts on foreign business for
is the company. From 1856 to 1902 while
t he was a member Of the firm of Ray
n mond & Company metropolitan
b. agents of the Mutual re, his profits
N wore S209,123 Under his contract
n with the firm he paid onehalf, or
ID $114,561 10 Mr. Raymond aud from
81, 1905. his commissions were sl059.
267, making q total personal revenue
from foreign business from 1886 TO
70 1905 Of 81 ,lG3,S29.
During the period of his connection
with Raymond & company. McCurdy,
ls according 70 his own testimony was
n receiving his hare OF the profits ol
X the bus ness of the Mutual I.ife writ
m en- hy his firm as metropolitan agents
81 This sum MeCurdy was unable to give
IN any estimate on. and later IN the day,
On when Raymond was called, II was
re brought these profits to McCurdy
is amounted to $54l,s52 net, after his
share OF expenses of the firms
profits had been deducted. This made
total of si,705,6Si that McCurdy re
>. ceived In commissions
IN 1888, WnSH McNuiuE l''Heu iloH
Raymond a company. he was sue
ceeded by Louis A. Thcbaud, son-In
= law of President Richard A. Mc
y Curdy. of the Mutual Lifs He was
practically under the same contrac
Nv as Robert A. McCurdy, and from
". 1899 10 1904 rece we'd in commissions
:" S920ll3 All these amounts were II
~ addition to salaries paid McCurdy ant
W Thebaud