The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1905-12-12

New York, December 5.-Instances
surance Company paid an aggregate
OF about $1,000 in what Vice Presi-
dent George ID. Eidridge. of thai COM
lp"ny called Hold ups. were related
70 tie life Insurance investigating con-
Inu,Jee by Mr.. Eldridge today. In one
case. III 1881. Mr.. E1dridge testified.
tie company paid $1,000 to John Nc
Donald. Il / Philadelphia lawyer, who
lhad been active in organizing the poll
Icy holders of the Mutual Reserve Life
assurance Company into Il movement
which charged President Frederick A.
Burnham, OF that company. with mis-
management and demanded his re-
lmoval. The charges also reflected upon
MIR. Eldridge'S management as vice
president, and threat was made To ask
for the appointment OF a receiver for
the company. Engaged in this move
HIeIt OF the policy holders also. was
d. =. Hoifecker, a former auditor of the
company, who had been dismissed or
who had resigned. Before leaving the
company HOffecker Informed Presi-
dent Burnh2E that he resigned be-
IcauSa their ideas AZ TO common hon
lesty differed So much, and because he
of 50 MANY questionable trans
actions Of which President BuInham
had approved. Mr.. Eldridge declared
that Hoffecker was not dismissed until
he'd had demanded Il increase in salary
from S35 to 500 Il week and especial
lily had said ii was safer for the COM
Ipany to keep him than to let him go,
liz view of what he knew about COM
lrany. Another instance of q hold up.
Mr.. Eldridge said, was in 1890. when
Max Behler. a so-called examiner OF
the Iowa Insurance Department came
to New York with his son as an assis-
tant examined the Mutual Reserve
Life Insurance Company and present
ed TO it a bill for $3.50 for the eXamina-
ton. Rather than pay the bill tho
company withdrew it's business from
Iowa; but a little later paid the bill
and another of $346 to Max Behler for
la verification Of his previous exami-
nation, iii order to get permission
Iagain TO do business in Iowa.
Mr.. Eidridge told also how he tried
Ito ecu n license for his company To
do business i'll Missouri in 1895. and
found that it would have to employ
w. II. Phelps as attorney before it
could do so. Phelps got the license
for the company in three days and was
paid $500 AZ illegal fees. Mr.. Ed
ridge said.
Mr.. Eldridge testified also that he
was certain there was no truth in the
statement made to n Canadian investi-
tgating committee by James ID. Wells.
former vice president of the Mutual
Reserve. that President Burnham of
THAT company had told Wells he had Ia
raise $4,000 to pay TO the New York
Insurance department in 1899, when
Louis f. Payn was superintendent of
1.-THE insurance.
The witness had previously stated
THAT portion Of q report made by Isaac
lN~anderpoOl an examiner of the New
York insurance department after an
examination in : = was eliminated
latter n hearing before the Insurance
department and before II was placed
ION file.
The part struck out recommended
THAT the committee he not allowed TO
lcall its lease Of its home office an as
tset and included 1t In It's surplus
Mr.. Eldridge declared that the Mutual
Preserve Company paid nc money tn
the New York State Insurance Depart
ment in 1894 except for the examina-
ItioD.