The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-10-06
business 81 his company His salary

y Business 81 his company His salary
* ,was $4,000. III
Mr. AfcErdy had d ty.pewritten state
& i1,et,t OF his career, which ne asked per-
ii fniesion to read This detailed HIS vnri-
~ OTIS conpeMsations, contracts and coin-
i missions. There verc d number az re-
N t1nctions Ii the commission which. he
said, we're made at his OWL REQUEST
n owing to the unforeseen st'ceess OF the
foreign Business This foreisi, business 81
n was ir1attgurnted because Of tho success
N attained By the New York Life INSTR
at,re Company and the Equitable Life
X Assurance Society. "a x N
ID 1 Mi, Mct.urdy started this foreign busl-
ness In 1885, and assumed the office OF
\ general manager iii 1900 1T salary Of
~ $40, 900.
\ His Profits Startling.
Tie most startling part Of Mr. Me-
I Curdy,s testimony was made just before
a recess, when he submitted q statement
"A ots his profits on the revenue from MS
contracts on foreign business OF the COM
pa1,y From 1856 to no., while he was
! d member of the firm Of Gil. Raymond
Il & Company the metropolitan agents OF
gthc Mutual Life Insurance Company, his
profits were s2o9.12$, Under his con-
VI tract with the firm hc paid ono half, or
.rsI04 sci 10 Mr.. Raymond, and from 1898,
& when he lett the firm, down to August
81, 1905, his commissions were $l039,267,
making n total personal revenue from
4, the foreign business from 1SsG 10 l9o5
4 Of s1,163 $40.
During the period Of his connection
with the firm of c. II. Raymond q
4 Company Mr. McCurdy, according to his
own testimony, was receiving his snare
Of the profits on behalf OF the Mutual
Life Insurance Company written ny MS
firm as the metropolitan agents. This
sum Mr. McCurdy was unable to give
any estimate Upon, and later In the day
and when Mr.. NlcCusdy was called 1t
was brought out that these profits to
Mr.. N1cCurdy amounted to $b4l,S52 net
or after his share OF the expenses OF the
A firm's profits had been deducted. This
made a total Of ,6S1 that Mr.. Nc
ECurdy received in commissions.
Nearly Million.
n In 1898, when Mr.. McCtrdy retired from,
.Sthe firm OF G. ii. Raymond & Co., he was
succeeded BY Louis a. Thebaud, q son:in-
law Of President Richard a, McCurdy, Of
the Mutual Life Insurance Company. lie
was practically under the same contract
as Robert McCurdy, and from 1S9a down
To 1904, he received in commissions on
first premiums and renewals the sum
K OF $92O,113. All these amounts were IN
addition to salaries paid Mr.. MoCurdy
and MIR. Thebaud. Charles FL RAYMOND,
who was called to the stand to supply
the figures of profits that Mr.. McCurdS
was unable to produce. occupied the
stand for tho remainder OF the session.
He was examined rs 10 the scope nnd l
territory Of his business, and tho amount
of commissions he received from the MI
t,,al Life insurance Company. hs vel as
the amount his firm paid sub-agents, was
closely inquired into. Mr.. Raymond's eS-
animation was not finished when the
committee adjourned for the day.
N Edward /. Devlin the real estate man
niger for the New York Life Insurance
\ Company, was the first witness to
day, having been called to conclude his
testimony interrupted by the adjourn,
ment yesterday. Mr.. Devlin presented
statements as to the real estate holdinss
Of his company in several western clties.
THESE showed that but from ono TO apoue
three ner cent. was realized last year on
Tho company's Investments in buildings,
MT he added that 1t was expected tnat
four per cent. would be realized TINS
wear, us 3.asstl III ,5Il.ssi Il. 4t&s etl 7t.a