The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1905-11-16
DEAL OF
THE ENTIRE LOT
President Hegeman OF Metro
pclitan Life Makes a Re-
markable Admission.
REBATE ON INTEREST
asminsily Paid Banking Firm az PET
Cent. interest and Received Re-
oates OF 3 Per Cent. in Per-
senal Checks.

New York. Nov. l5.-John A. Mccall.
rrssideni or the New York Life Insur-
auce company, was called by the COM
uit,ce Of investigation OF insurance
romp.an,es and percmptorily ordered by
An. committee To demand the return
from Europe to this country of Andrew
Hamilton. the lawyer who has charge
N the legislative matters OF the New
York Life Mr.. Mccall was
further ordered To demand an account
Ing from Hamilton OF the moneys ex-
pended by him and OF the balance
which he owes the New York Life.
MIR. Mccall denied that IL was the
,olIcy Of his company To have Mr.. Ham,
ilton remain abroad until this investi-
cation had been concluded. and said
that on the contrary he would Ike 10
have MIR. Hamilton return.
Mr.. Mccall. replying To Mr.. Hughes.
eounscl for the committee. said he had
called the attention of the board OF
trustees OF the company To his testi-
mony relative to Hamilton, ana gave
MIR. Hughes a copy OF his statement.
which said that IL Hamilton did not re-
tsl5. 600 by December 10 he would him
self pay IL TO the company.
Mr.. Mccall said Mr.. Hamilton was
either in Paris or Nauheim.
Another interesting line OF examina-
ton WIS opened up just before the adj
Iournment for the day. when John Nc
Guinness, an employe OF the Equitable
Life. was called. He produced letters.
books and memoranda. n OF which
AIR. Hughes read, and WAS In the midst
Of reading another when Adjournment
VAS taken. These were instructions OF
former Comptroller Thomas ID. Jor-
Ian, OF the Equitable Life. TO n. e.
Fields. relative To The killing or assist
- a.. - .. 20 ..s.wNs hill tVf rnHttrg1
into the legislature that would AFFECT
The interests of the insurance company
or any OF It's officers.
This line OF examination Will be fol-
lowed out when the sessions are re-
sumcd today.
New York. Nov. i3.-John r. Hege-
man. president ~ the metropolitan Life
Insurance company. was on the WIZ
ness stand again today before the In
Surance investigating committee. He
presented "a statement OF rebates paid
to him on interest on loans ON his per-
sonal account.
The statement show that Hegeman
paid Vcrmilyo a Co.. bankers. interest
at the rate OF a. per cent. and re-
ceived in personal checks OF various IN
dividunls Of the firm. at different times.
a rebate of this interest ut the rate or
; per cent
New York Life Must Disaorae.
John a. Mccall. president OF the New
York Life Insurance company. was
called before the Insurance Investigate
ing committee today and ordered by
the committee TO demand the return
To thia country Of Andrew Hamilton
and account for moneys which Hami;-
ton has expended and for which the
New York Life holds no vouchers be-
ynnd the personal receipts.
Hamilton Is believed to be In Eu-
rop".
Mccall said eiat II Hamilton does
not repay the company before Dcccm-
her ~ the sum OF ssg5.oO0 which Ham
ltop received from the company and
has not accounted for. he. Mccall. viii
pay the amount himself To he New
York Life before December 80.
loaned Money Toe Cheap.
II was shown that the Metropolitan
Life made loans Of 100000 TO 100000
az one-haif OF ! per cent. interest to
William Iicadc. ~ the firp OF Yer
milyc. * Co, on various dates In 1901
To 1903. The market rate for call loans
was nj the time from iis To 3 per cent.
Ncrnilyc * Co. were the banker
of the Metropolitan ut that time. and
when Mr.. Rcadc resigned from Yer
milyc ~ Co. and went into business
for himself he became the compnny's
banker. MIR. Hcgeman's explanation
for making these loans below the mar
kct rate was that rs valuable services
had bc,u rendered the company "
sought to repay favors where IL could.
Mr.. Hcgcman said that through the
watchfulncss OF Vermilye & Co. tn"
Metropolitan Life Insurance company
had now $4,000. 900 Or $4,000. 900 that
could he burned without impairing the
Solycncy Of the company.
ON bonds and stocks the M~ctropoli-
tan had cleared. according 10 Mr..
Hcgcman. about $t.200.000. and on
S~yndicatcs into which Nermilye & Co.
instructed the company To participate
the company has made about $3.50. 900.