Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1905-10-20

New York oct. 19.-Tichard A. Nc
Curdy, president of the Mutual Life In
surance Co, made the statement. to-
day, that he had no intention of re-
signing, that he was elected to serve
until June I, and nothing can or will
drive him out.
1t was also announced from the ais
trict attorneys office that no action will
be t1kcn regarding the George j. Plum
kit matter that was turned over TO the
district attorney, yesterday, by the leg
islative committee that is Investigate
ing. Closing one of tn most sensational
and strenuous weeks Of the insurance
investigation. the committee, just be-
fore adjournment. today, concluded the
examination Of Richard A. McCurdy,
with the exception of few details he
is 10 supply. next week.
Mr. MrCurdy had been on the stand
thc greater part of the three days OF
this weeks session, and some of his
tcstimnUy has been the most startling
of any that has been adduced before
the committee. His testimony, today,
however. was very much of a technical
nature. though ii was of much value
to tn" committee in its work. When he
resumed the stand, this morning. it
was to take up his testimony as to the
Mutual LIES connection with trust
companies that was interrupted by adj
joiruiurnt, yesterday. The information
furnished by Mr.. McCurdy disclosed
thnt the trust companies with which
tar Mutual Life WAS connected became
very prosperous soon after they were
taken NJ by the Mutual Life. Two
eases in point were the MorristoWn
Trust 90. at MorristoWn, y. J., where
the MyCurdy family lives, and the
United States Mortgage and Trust Co.
The former Is now controlled by the
Mutual Life ANA Mr.. Curdy testified
that besides being Il director of this
trust company he is 4 large sto khold-
ar rnI would take more stock if he
could get it.
The Mutual Life keeps a balance Of
not less than $200,0o0 with this company
ON which it draws from = to , per cent.
Til" latter rate has been paid only since
September /. Mr.. McCurdy did not
know tine holdings of the other menu
brry Of his family in this company.
IN the syndicate operations Mr.. Nc
Curdy said he participated not with the
idea Of drawing bonds. but to obtain his
share If the commission allowed by
bankers.
Mr.. McCurdy was asked what life
insurance he carried. ana II" WAS UNI
able To- say Mt once. but James NJ. Beck.
his G., unset presented a statement snow
ing Nnrn The policies We're taken out,
for what amounts. and the plan. These
AGGREGATED 100000. all in the Mutual.
Mr.. McCurdy testified that he was also
insured in the Equitable, the Washing
ton. and the Connecticut Mutual.
E,fnre he left the stand, Mr.. Nc
Cur,Iy said he paid $4,000 for his apart
ment in the Grosvenor building, when
is owned by the Mutual
When Mr.. McCurdy was excused, his
son. Robert II. McCurdy, was called tC
explain some charges for travelling eX-
pruSCs in 1904. He said one OF ms
duties as general manager was to visit
the agencies about the country. Ihret
such trips were made. the expense OF
which aggregated about $4,000. Mr.
McCurdy said that while on one triE
he was accompanied by his father
mother. wife and the latter's maid, but
that the expense accounts We're FOL
himself individually and did not in
clude those of any other member OF
his family or party. He had a private
car on one of the trips. He could not
tell why the expenses on these trips
were 50 large. but said he would fur-
nish the details later.
Mr.. McCurdy was followed by w. w