The daily morning journal and courier., 1905-12-29
DECLINED OFFER. OF
 RETAINER BY M'CURDY
STATEMENT BY JUDGE o6DY. FORMERLY COUNSEL FOR
 [. F. PAKM

Proposition Made at Time When
 Prussian Insurance Companies Were
 Seeking Admission to New York
 state-McCurdy Had Requested That
 Permission be Held Up Until He
 Could See Payn-Acting Head o9 AEu-
 taal Life Testiaes-UnpIeanant Task
 of Discharsing Needless Emplsyes
 New York, Dec. 28.-Louis F. Payn and J. Rider cady. who was employed at times as counsel by MT. Payn while the latter was state Superintendent of insurance, were the principal wit nesses to-day before the insurance ana vestigating committee.
 Mir. Payn in reply to one of the first questions asked him, enphatfcally denied the report that he had received $40, 600 from the Mutual Reserve Life Insurance Company and had allowed that company to write it's own report of an investigation which MT. Payn had caused to be made in 1899. He characterized the report as abso1uteIy false in every particular and said A
 
 Wells, ronler vice president of the AIa- tual Reserve and President Burnharn pf the same company.
 Judge Cady was brought into the in- vestigation by reason of his having aps peared before MT. Payn In the inter& est of Prussian insurance conpanieep applying for admission to the state. This application was denied by Aar. Payn at the time but some two yaara later the Prussian companies were ad4 mitted. President MoCurdy of the lfu- tual Life Insurance Go. asked that tho permission be held up until he could see MT. Payn. This request was re- fused, but MT. Pawn had Judge Cady call upon MT. McCurdy.
 Mir. Hughes asked if Mir. McCurdy said the Mutual Life would pay any | money for contrary decision Indge Cady said he did not but that Mr. McCurdy offered him retainer fn be- half of the Mutual Life, which he re- fused.
 The New York office of the inslir- ance department was inquired into l when Robert Hunter, deputy supertn- .tendent of insurance was called. MT, Hunter could add nothing as to th conduct of the insurance departsnAr to what already had been supplied was brought out that through his fiuence he had had medical exanlir l of the Equitable Life Assurance s ciety in Poughkeepsie diSchargeds Accumuiative evidence on the aIlo ment of the 1000 shares of stock of tn 5 l Lawyers Mortgage Insurance CoTnpan. which while held for the Mutual Lii Insurance Company were accredited to members of the finance board, was taken up in the examination of Adrian IseIin and G. c. Haven, of the Fin ance Committee and of Frederick H Cromwell, the present acting president of the Mutual Life
 l Henry Morganthau, of the Lawyers Mortgage Insurance Co, told how MT. McCurdy had become dngnant be- cause he had not been allotted shares in the Lawyers Title Insurance 6 Trust Company and to appease him a block of Lawyers Mortgage msurance | Go, stock was offered him, but he would not take it, and further gave MT. Morganthau to understand that no applications for loans from either cona% pany would receive consideration from the Mutual Life.
 When Mir. Cromwell was on tElN stand he was asked what consideration he had given to economies in thU Mutual Iife He said he could not I give exact figures for the record buk that there would be a sayng of per haps a million and a half dollars next year. He added that the most uE4 pleasant duty he had had to perform was that of headsrnan in discharging employees during the last few weks Late in the day the United States Life Insurance Company,s af9airs ware taken up by Mir Hughes. The presis dent of the company, John F. Munn, was called to the stand. He suhmift- ed a number of statements of syndicate paTtictpations, which were read fon record; also statements of the cost of insurance to his company. He wfil re- slIrne tomorrow.
 District Attorney Jerome to-day re. ceived a copy of all the evidence thus far submitted to the tnsnrance t1avssti- gation committee. There are numerous l volumes.
 Acting District Attorney Mott said to-day that q special grand jury will probably be empanelled In February to consider the testimony.