New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-10-18

anu suggested by way Of pressing
his point:
Now you have been president of life in
surance company for some forty years. and you
get for your responsibility some $4,000 a
year. Now, I want to know what you know
about the business"
You want to prove that am a fool retorted
Mr. NcCurdy.
StiII persisttng OF the point Of increasing sal
aries and decreasing dividends, Mr.. Hughes said,
AFTER series Of refusals the part of the wit
ness to furnish information:
Well, then, tell US Mr.. McCurdy. If you know
why it is with all your boosted increase Of as
sets and writing Of new business, your divi-
bends last year on policy were So. where.
when your administration began. they were $50.
Do you know?
I don't admit the fact" replied Mr.. McCurdy,
In some confusion
do you mean that you deny the fact?" asked
Assemblyman Rogers, Then followed another
long series Of questions, which eliminated in
Mr.. Hughes's asking:
DO you not know that it has been the claim
of your company that the excess Of interest
earned IN recent years has been falling of so
that the dividends could not be paid at the same
rate?'
Il decline 10 go into any such discussion at
this time and place" said Mr.. McCurdy, voicins
the first definite refusal to answer a question
yet heard before the committee Following this
refusal Mr.. McCurdy made a similar answer to
a score Of questions of the same general char
acter. in each case declaring the companys actu-
airy could testify more competently than he
IT am not the proper person, and do not wish
to be led into & wilderness of cross-question-
tngs.'' he protested.
1T would be pertinent to inquire" Mr.
Hughes persisted, whether. the returns upon
investments being at such reduced rate as to
force q reduction in dividends. it was proper to
increase the salaries Of executive officers. and I
would like 10 know what you have to say on
that point
at may seem pertinent to you, but decline TO
discuss it," was the blunt answer.
Whether you think 1t pertinent or not have
you anything TO say about it?'' insisted MI
Hughes
I have simply to say that when the question
Of my salary was introduced for discussion
declined To discuss it in q self-commendatory
way I didn't care to. haven't fixed my salary.
7 am not fond Of seIf-advertIsing. and am not
here to justify my salary; other people fixed
that"
Again there was long sparring, in the course
Of which Mr. McCurdy steadily declined TO be
drawn out Finally. Mr.. Hughes. after review
ing the alleged increase in cost and the reduc-
ton OF dividends and introducing VdIIouS A0I-
ters to show these things, inquired;
Have you ever done anything to reduce ex-
pensesY'
Yes all I could
DID REDUCE SOME SALARIES.
eyer reduce salariesT' CThfs provoked
general laughl
"Oh. yes, you are entitled to the laugh" was
the calm response, ''but let me see how will
answer It" This provoked more laughter. I
didn't fix ny own salary other people did that"
You didn't reduce It, eitherT"
.rlo and don't mean to-not myself, what
ever other people may do" Mr. McCurdy then
talked about some reductions in salaries
.-vvhose were those?'' inquired Mr. Hughes
The clerical force
1.-THE clerical force"' Mr.. Hughes repeated. and
again the audience chuckled.
Nj Hughes then branched of on the legal
expeuses," and inquired II Mr.. McCuroy had
ever sought TO reduce these, which IN the MUTUAL
far exceeded similar expenses IN otheT large
oo-nnanies. The witness protested that he was
not interested in the statements Of other com
NAMES. He had no light TO shed on the reasons
[o- +hese expenses OF for the payments Of large
SUMS such as $4,000, on vouchers Of blind
character. Then Mr. Hughes produced a
long list OF vouchers for legal eX-
penses" and special services" Among the
men who received money for such work was the
late James F. Pierce, who took retainer from
the Mutual when he ceased to be State Superln-
tendent Of Insurance. One voucher for S2,ouO
was shown, with letter from the v1ce-presl-
dents Office directing the payment OF that sum-
but Of the services NJ McCurdy knew nothlng'
declaring he never gave his attention to this
matter
long list of vouchers for payments to ex-
TOvT76 riv o.
cratic member for Westchester. were then
shown They aggregated $1,000, and covered a
nariod from December, 1900. to March 3D. 1907
NJ NrcC1rdv. with the assistance Of a Mutual
attorney. recalled the fact that this was for
work IN cases Of mortgage foreclosure. one OF
these vouchers bore the pencined Endorsement
Of the mysterious A c. Fields, whose official
title IS superintendent Of the supply department
What MI Fields had to do with the law WORK
Mr. McCurdy did not know. A voucher OF James
P Craig was then shown for $3.50. but MI Mo
C4urdy could not throw any light upon the iden-
tity OF Craig.
Mr. Hughes then reverted TO Fields. and
showed an affidavit from q Westchester physi-
oisp regarding Fields, which seemed TO show he
was in California. but nothing more definite was
obtained. It was brought out that Fields rented
q house IN Albany during the legislative session
and similar significant facts already proved were
again brought out Mr.. Hughes raised laugh
by inquiring about the advantage Of the Albany
climate for an invalid. but Mr.. McCUrdy thought
an $500 house there was a material Offset to the
climate He thought Mr.. Fields was looking
after legislation
PAYMENTS A SURPRISE.
Judge" Hamilton was unknown 10 Mr.. Nc
c,urdv. who admitted surprise at the fact that
the Mutual had paid him money. bis surprise
deepened as Mr.. Hughes put in a variety OF
vouchers signed by Hamilton, one amounting to
80 90 .. tho, 9s one-tbird Of the $4,000 paid