The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-09-30
COUNSEL DREW
IMMENSE SALARY
TTE!-T.
To Look After Life Company's
Legislative Matters
SCHIFF ON THE STAND
AT INSURANCE INVESTIGATION
AND DENOUNCED STATE SUP
NTENDENT-HYDE WAS
THE WHOLE THING

New York, Sept. 29.-At the after
noon session of the legislative com
mittee On the insurance investigation
Alfred w Maine, associate auditor Of
Equitable Life Assurance Society, was
called to the stand.
II was then disclosed that the Equit-
able Life, Mutual Life. and the New
York Life companies had formed a
pool to look after legislation before
the various state legislatures. Andrew
hamilton, to whom president Mccall,
of the New York Life paid several
checks, the purpose of which counsel
for the committee, Hughes has not yet
brought to light, was one of the chief
members of the legal staff for these
companies and was employed and re
ceived money for services from the
Equitable.
Maine told of division of the country
to be looked after by Hamilton, in con
junction with E. L. Short and w. p,
Thummei, witless presented vouchers
for moneys paid by his company to
Hamilton and these showed that In
eight years from 1898 to 1908, $685.
$50 was said Hamilton for legal ser
vices
Maine could not give any details
of the duties performed by Hamilton
nor OF the committees he appeared
before, beyond The fact that Hamilton
looked altar the legislative matters
for all these companies in states
west OF Ohio.
Edward |. Devlin. the real estate
manager of the New York I.ife festi
fed ais to the cost Of the building Ii
Parts II was ss-.4~.aari,,. .44-a,t<a fhat tfr
Paris building was carried ON IN
books of the company al valuation
of si ,l02,60f whereas with the or
ginaI cost and improvements on build
ing. actual money to the amount of W.
533.11i was paid, over ono million be
Ing charged OIL the valuation on book
Of tho company.
The important development of tn
day the appearance ON the stand {
Jacob Eli Schitt, heal of the bankin
firm Of Kuhn Loeb e. Company. Mos
"a the time Schiff reclined leasurely
the chair on the witness stand but Q
enc point after another was brougt
out he grew excited and vigorous
defended his attitude while directt
OF the Equitable and claimed his fir
had acted In conscientious mann
In all It's dealings with the society.
All the conclusion of his testimo1
Schifi asked to be allowed to make
gtatement He was permitted, and
made an impassioned attack on Il
State Superintendent of Insurance al
the statements he had made concer
ing Kuhn-Ioeb & Company, during t
investigation Of the Equitable. DI
ing his testimony Schiff made t
charge that the minutes of the finan
committee regarding certain me
ing was false. He later qualified TIL
however, by saying IL transacted ,
der consideration, one In Union
CHIC, IHeltIIeu, wis dCtudHy uS'le
did not hear II though he was pr
ent at the meeting.
During his testimony regard
powers Of the finance committee
the Equitable Schiff said that the
tire committee was at the mercy
one man 1T was all Hyde" $
Schiff "all Hyde and Alexander ",
wrote messages regarding the off
made by my firm for participation
syndicates. Hyde signed all receil
Hyde wrote all letters"
In the matter OF the James II, n
and associate syndicates, Schiff h,
accused Hyde Of trying to schield f
self He said the position Of the
rectors In the Equitable was that (
negligible quantity and that the
rectors were mere figureheads.
fa