The Black Hills union and western stock review. [volume] (Rapid City, S.D.) 1904-19??, 1905-10-13
REQUESTED Them TO
CUT DOWN INCOME
Son Of President McCurdy OF
the Mutual Life Had Too
Much of a Snap.
JEROME WILL PROSECUTE
Fits Commissions on Foreign Business
Exceeded a Million Dollars in
Twelve Years According to
Tcday's Revelations.

New Yark. Oct. 7.-District Attor-
ney jerome decided today he will
not have an extraordinary jury to
Investigate Insurance matters at
present. Later he said he might
present the matter to the grand
jury.
New York, Oct. fragments
amounting to Sl.O59.267 in commission
were made to Robert II. McCurdy, son
of President McCurdy, Of the Mutual
Life Insurance company. by that COM
pany during the years 1898 to 1905.
McCurdy was superintendent of the
compnny's foreign department and re-
celved a commission on all foreign bus
mess. His rate OF commission was
reduced several times at his w re-
quest, but despite the reduced rate his
compensation grew until it amounted
to S93,l5S for the year 1902 alone,
Jerome to Prosecute.
District Attorney Jerome announced
IN a statement to Justice Davy in the
supreme court today that he intended
after the legislative investigating COM
imittac had completed it's work, to pre-
49, ~ - >'t u y
the revelations affecting the conduct of
fife insurance business which has been
lmade before the committee. Jerome
!said the inquiry by this comittee has
shown greater moral obliquity n
mora! obtuseness on the part OF persons
important in the business world than
Old the shocking revelations in regard
10 the Equitable.
Gave $2,5oo to corte!you.
w L. ''I,.,,,,,,1 I.,,l .~,,,-. g. -
Mutual Life, testified before the lcgis-
latiVe investigating committee today
that he had received 81. 400 from Vice
President Galnish IN 1904 and had paid
ii personally 10 the chairman Of the re-
publican congressional campaign COM
mittee. Thunmel said the contribution
had been suggested by the danger of
a democratic house, that would result
in tariff and other legislation of such
character as Would upset business and
affect policy holders
Other companies. Thunnmel said, had
been asked 10 contribute, but he did not
Know whether they did or not.
~Neiehborly Borrowing Act.
lhat John r. Hageman. president of
the metropolitan Life Insurance COM
n*ny, borrowed $4,000 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
today President Jonn y. Mccall. of the
New York Life Insurance
testified that he in urn borrowed SIS
wv from the Metropolitan company at
the same rate. This was in January,
1908; the loan was renewed in Jan
uary. 1904. and ran until March. 1905.
when the rate of interest was advanced
to : "er cent, at which rate it is still
running.
M NTII',11 -. = ~
director of the metropolitan Life In
Siilance company. but not a stock
holder. The fact of his being a dircc-
tor. Mr.. Mccall continued, did not deter
him from procuring a loan at as low
a rate of interest as possible when it
was to his interest to do SO.
Checks Stolen from Desk.
somewhat OF a sensation was caused
when N. +. TONNES. of Albany, was
called to the stand and disclaimed any
knowledge of the whereabouts OF cam
celcd checks Of Judge andrew Hamil-
ton. OF Albany. Mr.. Towns testified
that he was associated with Judge
Hamilton in the practice of law in
Albany. The Hamilton account was
again under investigation and Mr.. Nc
call had been excused for a few min
utes while MI. Townes took the stand.
Mr.. TONNES testified that he made
deposits for Judge Hamilton. but not
while the latter was in Europe. He
had taken some Cancelled checks from
the Albany Trust company early in
September and thrown them into a
drawer III Judge Hamilton's desk. He
had no occasion TO look at them again
until last week, when he received the
subpoena to appelr before the commit
tee. He was asked to bring these
checks with him., but her he Looked
for them they We're gone.
He had no kDOWladpn ba 6acln rod
of where they could lave gone, or who
could have taken them. Pressed by
Mr.. Hughes. he said almost anybody
had access to the drawer in which the
checks We're placed.
Hamilton Was Well Paid.
Mr.. Mccall, %resuming. was asked
about q deposit to the credit of Judge
Hamilton of Sl62 .041 on September l.,
1905.
Mr.. Mccall said the New York Life
Insurance company had paid Judge
Hamilton no money. He suggested that
part Of ii might have come from the
state controllers Office by reason OF an
assignment of tax monies which would
come to the judge by reason of his Sc
curing Tie repeal of the tax law, which
relieved the New York Life from the
payment of taxes. Judge Hamilton was
TO have one-third of the noun that
would rebate TO the company. a sum of
$2I..000, netting MIR. Hamilton about
$50, 700.
Mccall Family Did Well.
Another interesting point was brought
oN, by Mr.. Hughes just before the close
of the day. Edward J. Deylin, real
estate manager for the New York Life
Insurance company. Was called to con-
tinue his testimony of last week relative
to tn" real estate values of the COM
pany's properties In his country and
abroad. Mr.. Devlin had to consult
the records. and he presented a num-
Der of transcripts of the records. 1t
developed that the New York Life ac-
quired by foreclosure an apartment
house in one OF the most desirable resi-
dental sections of this city, and the
cost with improvements deemed neces-
sary was s203, 056. The income from
this property was found to be .023 per
cent. on the investment. Among the
Improvements was the throwing OF two
apartments INTO one of nine rooms.
with baths. These were rented for
l.50O and Sl.S00 a year. It then devel-
oped that four of the tenants were
members of the family of President Nc
Call. three sons and a son-in-law. Mr..
Devliu was then asked who fixed the
rental of these properties, and he said
he did ii with MI. Mccall.
Campaign Fund flushed Up.
Mr.. Mccall enllvened the days pro-
ceedings further when he said there