The Montgomery advertiser., 1905-11-29
DEPOSITION
 OF MIR. SQUIRE
tContinued from Page Onc.)

l Rastus s. Ransome. counsel for l George H. Squire of the Equitable So- | ciety, next testified. He produced a
 statement showing that a profit of | more than $22.000 had been paid to MT. Squire by the American Deposit and Loan Company as result of transac- tions in the stock of the Lawyers Ti-
 tie Insurance Company and the Law
 yers' Mortgage Company. Mir. Hughes produced checks showing a division of | the profits by Mir. Squire as follows: | James W. Alexander, $5,6sS; James
 H. Hyde. s5,6SS; Thomas D. Jordan, | $3,792: W. H. Mcintyre, $3,792." | George D. Eldredge Vfce-President
 and Actuary of the Mutual Reserve
 Life Insurance Company. was next | called. He said the statement of the
 assets and expenses of his company in | 1901 in the blue book of the New York
 State Insurance Department was gross
 ly inaccurate. He made many correc-
 tions. The salary of the President of
 the company. he said, was increased
 in 1899 from $35.5O0 and expenses to
 $37,50O.
 MT Hughes said the business did not then warrant the increase in sal
 ary, but MT. Eldredge said that 1t was paid because the President was earn ing it.
 MT hugheS then called MT. Eld- redge's attention to the complaint Governor Folk of Missouri, which came
 up few days ago, when MT. Eldredge
 was asked to look the case up. Bond Wiped Out. Mir. Eldredge said that as MT. Hall stated, he is a policyholder to the ex-
 tend O. $5,000 in the Mutual Reserve
 Life Insurance Company. and that a
 bond of $S7 had been credited to Mir Halls policy at the end of the first
 five year period in 1891, but that the
 bond had been entirely wiped out by
 special assessments before it became available for MT. Hall in 1901. The | special assessments in one year, he said. were $76.15, in addition to the reg ular assessments, and MT. Hall would have had to pay them in cash if he had not been credited with the bond
 MT. Eldredge said Hall had paid l $3S9.5 into the company on this S5,OOO policy, and when asked if MT. Hall still | owed $1, 300 to the company, as he had
 stated. MT. Eldredge said:
 That is as I have explained when | testified before"
 MT. Hughes then produced a policy | for $10,000 written by the Mutual Re-
 serve Life Insurance Company in 1904,
 and asked that if that also was subject 10 Speclal assessment. MT. Eldredge said that it was.
 Mir. Hughes then read the stipula- tions on the first page of the policy
 which provided that the holder should pay $23.9O on certain specified months
 in each year as premiums subject to
 the benefits and requirements where
 stated in this policy"
 Must Pay Anything Asked. In reply to question by Mir Hughes, Mir. Eldredge said there was no other allusion on the first page to any other
 than the regular assessments, but that
 the exception permitting the special
 assessments was contained in a clause
 on the second page of the policy. Mir
 Hughes read that clause which pro-
 vided that the holder O. the policy
 might be required to pay the company
 "any multiple or ratio of the premium stated on the first page which the Ex-
 ecutive Committee of the Mutual Re- serve Company might determine upon"
 Multiple, he said, might mean two.
 three or any number of times the
 amount stated. This clause Mr. Eld-
 redge said, was the only advice to the
 insured that he could be compelled to pay more than the premium of $23.90.
 He said that very few such policies are issued.
 The committee then adjourned until tomorrow.