The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1905-10-12
MCALL GIFTS
: CHEAP MONEY
DoRRoWs FROM METROPOLITAN
LIFE At 11-2 PER CENT
INTEREST.
CANCELLED CHECKS MISSING
SENSATION IN THE LIFE lNSUR-
ANcE INVESTIGATION IN
NEW YoRk
CANCELLED CHECKS MISSING
INGALLS, GET CHEAP RENT
OCCUPY NEW YORK LIFE BUILD
ING THAT PAYS BUT .023 ON
INVESTMENT.

Hegeman, president of the Metropol-
itan Life Insurance company, bor-
rowed fifty thousand dollars from the
New York Life Insurance company
at / IL per cent interest, a rate below
the market rate, was brought out in
the insurance Investigation last week;
but yesterday President John A. Nc
Call of the New York Life Insurance
company, testified that he in turn bor-
rowed $75. 900 from the Metropolitan
at the same rate.
MI. Mccall testified that he was a
director OF the Metropolitan Life In
surance company, but not a stock
holder.
caused in the late hours of yesterdays
session of the legislative committee
which is
Investigating the Methods
of life insurance companies when Neil
F. Towner of Albany, law partner of
Judge Hamilton, was called to the
stand and disclaimed any knowledge
of the whereabouts of cancelled
checks of Judge Andrew Hamilton of
Albany. Mr.. Towner testified that he
made deposits for Judge Hamilton,
but not while the latter was in Eu-
rope. He had taken some cancelled
checks from the Albany Trust com
pany early in September and thrown
them into a drawer in Judge Hamil-
toms desk. He had had no occasion
to look at them again until last week,
when he received the subpoena to ap-
pear before the committee. He was
asked to bring these checks with him,
but when he looked for them they
were gone. He had no knowledge, he
declared, of where they could have
gone or who could have taken them.
Hamilton Gets Tax Money.
Mccall, resuming, was asked about
a deposit to the credit of Judge Hamil-
ton of $162,041 on Sept. 1, 1905. Mr..
Mccall said the New York Life Insur.
ance company had paid MI. Hamilton
no money, but suggested that part of
it might have come from the state
controllers Office by reason of an as
signment of tax moneys which would
come to the judge by reason of his Sc
curing the repeal Of the tax law which
relieved the New York Life from
payment of taxes.
Another interesting point was
brought u by MI. Hughes just before
the committee adjourned for the day.
Edward F. Devlin, the real estate
manager for the New York Life Insur-
ance company. testified that the New
York life had acquired Il. foreclosure
an apartment house i'll of the most
desirable residential sections of this
city, and the cost, with the improve
ments deemed necessary. was $2O3,-
O66.
Used by McCaIl's Family.
The net income from this property
was found to be .O23 per cent on the
investment. 1t then developed that
four of the tenants were. the immedi-
ate family of President Mccall, three
sons and a son-in-law. Mr.. Devlin was
asked who fixed the rental of these
properties, and said he discussed with
Mr.. Mccall.
Mr.. Mccall %enlivened the days pro-
ceedings further when he. said that
there was no record on the books OF
luc 4NcW 1Oih Lille Insurance COMPANY
of the $150,000 paid the Republican
national committee for contributions
to presidential campaigns. While he
Had No Personal knowledge
that the money was paid, he assumed
it was, because he had told the treas
urer to make these payments.
Earlier in the day Mr.. Mccall, in de-
failing the general legislation work of
Judge Hamilton and the counsel he
employed, denied any knowledge of
the legislative pool which was dis
closed in the examination Of Alfred
w. Maine, auditor of the Equitable
life Assurance society, last week.
MI. Mccall on this question made
the startling assertion that three
quarters OF the bills affecting life in
surance companies We're in the nature
OF blackmail. The officers of the
companies were worried at the begin
ming OF each year, he said, by the pro-
posal of laws that would hamper their
companies, and these officers "really
trembled at what they would have to
endure the first six months Of each
year."