The Worthington advance. [volume] (Worthington, Minn.) 1874-1908, 1905-10-13
ULTI||h h BY
MISSOURI State
NEW YORK LIFE MUST RESTORE
CAMPAIGN FUNDS AND RE-
TIRE MCCALL REGIME.
Cannot Do Business in State Unless
These Demands Are Complied
with-The Mutual Life a Family
Affair.

policyholders' money paid into the
republican national campaign fund
must be restored and that President
John A. Mccall. Vice President George
w. Perkins and several of their ASSOC
ciates in high places must give way to
new officers or the company can write
no more policies in the common
wealth.
What this move means to the New
York Life may be judged from the tact
that the company drew from Missouri
last year upward Of $2,500,000 in pre-
miums on insurance outstanding to
the amount of more than. $4,000, 900,
distributed among $4,000 policyhold-
ers, and that its new business in the
state amounted to about $1O.000,00o.>
Paid Princely Salaries.
New York, Oct. I'm Fridays evil
dence before the legislative insurance
investigating committee sensational
development came when Mr.. Hughes
demanded the payroll of the executive
officers of the Mutual Life company.
This was produced and showed the sal.
aries of these officers siiice 1877. For
the year 1904 President McCurdy re-
ceived $15O,OOO, two vice presidents
were paid $4,000 each, second vice
president $17,5O0, the third vice presi-
dent $4,000, and the general manager
$25 1000, who this year will receive $780,
600 and the treasurer $4,000.
Relatives Enriched.
New York, Oct. 6.-That the astound-
ing total of more than $2,60O,000 has
been paid as commissions by the Mu-
tual Life Insurance company to two
members of the family of Richard A.
McCurdy, president of the company,
and the promise of District Attorney
Jerome that the insurance scandals
certainly will be submitted later to
an extraordinary grand jury, were the
sensational developments in the insur-
ance situation Thursday. i.
1t was brought out by the testimony
before the legislat tive insurance CON-
mittee that Robert H. McCurdy, son
of Richard A. McCurdy, has received
as commissions on foreign business
81, 163,S29, and on domestic business
$541, 1852, and that Louis A. Thebaud,
of Richard A. McCurdy, has
received an aggregate of $920,113 in
commissions from the company. It
was also brought out that Robert H.
McCurdy expected his income this year
would be about $4,000.
Grand Jury tc Act.
Mr.. Jerome in announcing in court
that the scandals will be submitted to
an extraordinary grand jury, said the
inquiry by the legislative committee
had shown greater morals obliquity
and moral obtuseness on the part of
persons important in the business
world than did the shocking revela-
lions in regard to the Equitable Life"
Nevada Bars New York Life.
Carson, New, Oct. 4.-On Tuesday
State Comptroller and Insurance Com
missioner s. P. Davis revoked the H.
cense of the New York Life Insurance
company in this state. The following
telegram was forwarded to the New
York home Office by the comptroller:
John A. Mccall: Pending the inves-
tigation of the corrupt management and
fraudulent disposals of funds entrust-
ed to your company, and as long as
yourself and George Perkins retain Of.
fees of trust in the management of the
New York Life insurance company, the
license of the company to do business
in the state of Nevada Is hereby re-
voked. Upon advice Of change Of
management and satisfactory proof Of
honest management the license will be
reissued."
A notice has been forwarded through.
out the state warning all agents Of the
fact of the order and giving the agents
two weeks to close the records.