The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-10-18

loim, that appeared like an attempt
o ruin him.
After taking up the question Of the
reduction of dividends. Mir. Hughes
read a long list of policy nlNnbers
Hith the amounts of the face of the
policy, what had been paid in. and the
dividends received by the policy
holders. Asked what he haN TO say
o these, Mr. McCurdy said figures
ion't lie, but liars can figure" He
then hastily explained that he meant
that facetiously and he would be glad
o verify the figures. The only ex-
)lanation for a specific instance of a
reduction of dividends, Mr.. McCurdy
gave was that he supposed the policy
nolder had q reduced rate policy.
The legal expenses We're again re-
ferred to, and a number of vouchers
for the payment of various sums were
read. 1t was brought out that Will
lam Barnes ST., Of Albany, had APP
peared before the committee in AL
oany, last winter. and had received
81 1000 from the New York Life In
5urance Company. as the same amount
rom the Mutual Life Insurance Com
3any Eater ii WAS brought out i'm a
letter to Mr. McCurdy f rom William
Barnes Jr., that Mr.. Barnes, Sr. was
under an annual retainer to the Mu-
ACase of ''InsubOrdination.''
A voucher in 1902 for $4,000, pay
able to Il. H. BoWles, was explained
by Mr.. McCurdy as part payment in
settlement of a suit Mr. BoWIes, form
erly the general agent, in Milwaukee,
had brought against the company. tt
was testified to earlier in the month
that Mr.. BowlesA had been dismissed
by the company for inSubordinatio ton.
Mn n ~,
subordination consisted in throwing
mud" and trying to injure the COM
pany. He said that when it came
Mr.. BoWles' turn to have his business
taken over by the company under the
policy of the company to assume all
general agencies Mr.. Bowles wrote n
letter to the president which the presi-
dent termed INSTRUMENTATION" This
letter made a number of charges and
submitted a number of records and
tables. Later Mr.. Bowles agitated
policy holders crusade against the
company, and MI. McCurdy said the
suit was settled to end the agitation,
adding that Bowles went with the agi-
tation.
The entire testimony of the day was
a continual thrust and parry between
counsel and the witness, and when adj
journment was taken for the day. Mr..
Curdy. The latter will be recalled
tomorrow.
At the afternoon session Mr.. Nc
Curdy was questioned concerning a
payment of $4,000 to William A.
tricks, former insurance commits
sioner OF Wisconsin. MI. McCurdyi
testified that this payment was made
after the receipt of letter from
Charlton T. Lewis saying that Mr..
tricks would accept retainer ITO
see that the interests of the Mutual
Life should come to no harm in that
State. Mr.. McCurdy authorized the |
payment of the money.
Looking After Legislation.
1t developed that the Mutual Life |
Insurance Company. paid house rent
at Albany for A. c. Fields. an employe |
of the company, during the legislative
session. Mr.. McCurdy, testified that
Fields was in Albany on legislative
matters. Mr.. McCurdy said he did
not know Andrew Hamilton, of Al
bany, and was surprised to learn that
the Mutual Life Insurance Company |
had paid money to Hamilton.
When Mr.. McCurdy was asked what |
Mr.. Fields was doing in Albany he
said
He was looking after legislation.
If legislation was not watched in every
State every corporation would De Gull
pable for not protecting its interests.
If legislation was not watched the in
surance companies would be legislated
and superintended out OF business in
five years. 1t is the duty of insur-
ance corr panies to watch legislation in
all the States"
A voucher for the payment IN 1903,
$500 to S. S. Olds for professional
services in matter of Michigan, one
third of which was to be paid by each
of the three big insurance companies,
next came up.
Educating Legislators.
Mr.. McCurdy said:
Mr. Lewis told me he had spent
one winter in educating the minds of
the legislators of either Michigan,
Wisconsin and Ohio with regard to
certain legislation affecting the insur-
ance companies. He proceeded TO the
capital of the State and discovered the
residences of political god parents, the
relations and neighbors OIL et the i leglsla-
tors. 1t meant journey aIter Journey
up and down the State anu tlle 'Iuuc-
ing of men to go, too, VINO "ouAu eN-