The daily morning journal and courier., 1905-10-25
MUTUAL SENT OUT OWN
 REPORTS OF INQUIRY
PROBE PIERCES DEEPER IN THE INSURANCE INVESTI-
 CATION

COmpaHy's Actuary on the Stand-Ex-
 plains Technical points of Insurance
 -AdEOcates Practically No Laws for
 Insurance Companies Beyond Cen
 tain Supervision to Give Reports Pub
 Iicity-John R. Hegeman of the Me-
 tropolitan Life Under Examination.
 New York, Oct. 24-At the session to-day of the legislative committee in- vestigating the life insurance compa- nies the affairs of the Mutual Life In- surance company were under consider alton, and it was brought out that this company was paying for the dissemin- ation throughout the country of reports of tais investigation that were favora- ble to the company. Charles J. Smith. a newspaper man, was witness. He is employed by the Mutual Lite h. surance company to do a large num- Der of things, but a month ago was given the task of sending out these re- ports, Mir. Smith had vised a number
 
 of this work. These aggregated $ll,- GOO, with more bills to come in. He thought the amount to date would reach $14,000.
 Mir. Smith wrote the reports and submitted them to Allan Forman, who owns the Photographic News bureau, and to which, concern one dollar line was paid by the Mutual Life for the service. Clippings from various papers throughout the country were shown to the witness and identified as the dis patches he wrote and sent to MT. For man. These were sent to about 100 pa pers, but MT. Smith did not know whether the papers were paid for iu- serting them. In one dispatch Mir. Smith wrote that MT. McCurdy's atti- tude on the stand made distinctly fa- vorable' impression, and for this he had to pay two dollars line. This, he said was worth it. -
 Walter Sullivan, who has charge of the magazine. advertising department next was called. He said the Mutual advertised in twelve, magazines last year at cost of $42,000. Advertising in insurance papers cost about $30,00O more, but he could not tell where the rest of the s329,797 charged up to ad- vertising last year was spent, F.
 Earlier in the day Emory McClintock, the aetuary of the Mutual Life, was on the stand. The entire morning ses- . sion was given over. to his explana- tions of the technical points of insur- ance. McClintock advocated no laws practically for the Insurance compa- nies, beyond a certain supervision to give the reports publicity. He thought the public. could take care of them selves and that publicity was the best law. Asked how far this view was shared in official circles, he thought he was somewhat of a missionary along that line. s'.E ,- ..
 Mr.. McClintock was to have been on the stand again in. the afternoon ses- sion, but during the recess he was seized with slight attack of vertigo. He will be called again tomorrow.
 John R. Hegeman, president of the Metropolitan Life Insurance company, was examined, and when the adjourn ment was taken this afternoon, he was still on the stand with his testimony unfinished. While lacking the startling features of the testimony of some of the other life insurance presidents who have testified MT. Hegeman's remarks and explanations were none the less interesting, especially his statement that $S76, 900 was given to the industrial policyholders of his compaf1y last year