New-York tribune., 1905-12-30
ENDS TODAY.
REPORT TO COME NEXT.
Iseli1 Tells of Mutual Sy'adacates-
Threats to Magazines Charged.

Threats to Magazines Ch0rged.
The wind-qip of the work of the Armstrong
committee as an inouisitorial body will take
place to-day. perhaps this afternoon and per
hape tonight But midnight Will see the END
of the investigation by the COMMITTEES, unless II
follows the historical example of the United
States Senate and stays the hand of the CLOCK
that the death agony may be prolonged
II is not thought probable. however, that the
sessions viii extend beyond the afternoon This
morning J. G.. Van Cise. actuary of the Equi-
table will be asked to tell about actuarial affairs
in that company, and. If time should permit
1ice-president weekes of the New-York Life.
win he asked TO explain q few details of the
actuaries' department in his company. Then
the statements of various companies viii ne read
into the record and the odds and endseof ousi-
ness VIII be cleared
And that VIII make an end Of it, UP TO the
rrport And the ending is, after all. only the
beginning of the work. for all the many volumes
OF testimony taken must be read and dlsested'
and the conclusions as TO necessary legislation
must be deduced. This VIII take several weeks
more of close and trying work The committee
does not scnow yet whether Il will continue its
ratsorz tn this city or move to Albany but It Is
considered likely that It VIII remain here. first
putting in G preliminary report with printed
COPY of the testimony. es 1t viii be some time
on acooelut Of the delays incident to organiza-
zion OF the Assembly, before the legislature
can get down TO work
yessurfasSs dotngs tn the, City Hall were tame
IL thsv we're forecast of what viii happen
fo-agv the investigation viii die painless
death The committee gave Itself 10 a further
snquirydnao the syndicate proceedings of Adrian
1seIfa II listened 10 Dr.. Mum. Of the United
States Life and received information from
a5enry B SxoEes president of the Mammalian
Life Insurance Company. George G. Haven,
trustee OF the nTutuai L.ta corrected his tes-
tirnouy Of the DAY before IN regard 70 tne sal
aries sscrur11sstee OF the Mutual. and~told OF his
Syndicate operahous
R5cfaEEnd yVssf1tauan, president Of the bafe IN
.rurence Club of NepsYork. was the most inter
,ssfns Zsatness Of the day. The part OF Mr.
rYIefItrrra11s testimony that sttracted the most
,sttautfnn was f1la4 which related TO his adver-
f1ssnr of his business. He said that he had been
an agent OF The NewpYork Life. with g. business
ne g1 npnofra a. yesr flte most OF which was OBJ
.ssred trrngh advertising in various maga~
zines The magazines, he declared. had been
threatened by the Bruftabie Mutual and Fru-
DENTAL companies that, unless they refused ms
9W1gntu1an's) advertising they would receive no
more of the business OF those companies.
The morning opened with Adrian Iselina the
rsand. he furnished a statement Of the syndl-
cate operations Of A Iselin & CO. IN conJuncnon
with the Mutual Life. Mr.. 1selin said that his
.nrrn had purchased often more bonds than the
original subscription called for. When George
C. Haven was called to tell OF his syndicate op-
.erations with the Mutual he asked first to De
allowed 70 correct testimony which he gave on
Friday. in regard to the salaries committee Of
the company He said that the salaries COM
rnittee, instead Of being appointed by the presi-
dent. had been appointed by tbs finance COM
raittee twenty years ago. and had been acting
7,nder The authority conferred then until very
recently.
Henry B. Stokes president Of the Manhattan
Life Insurance Company, said that the COM
pany had never paid anything for political con-
trfbutions nor to Andrew Hamilton nor A C.
Fields: the company had never been interested
in any syndicate transactions nor had the officers
taken part in any syndicates. He furnished
list of the gratuities paid to officers Of the COM
pany for getting new business. These sums ran
as high as $1,000 year, in addition % the sal
aries of the officers. He said that the money OF
the company loaned to its directors when
ever they wanted IT. and that the company
transacted business through the firm Of Walter
C Stokes Of which his brother was member.
Ia regard 10 the election Of directors of the
company. Mr.. Stokes said that he held the
proxies of four thousand pohcyhoiders. There
were about thirty-fve thousand policyholders
IN the company. he said, but he did not try TO
get any more PROXIES and the other policyhod-
ers did not bother about voting. Maurice W.
Howard, secretary OF the company explained
the method of dividing up the profits. He said
that they were figured up end the stockholders
Egot oie-s,ghth and the rest was set apart for
tthe policyholders
President Stokes admitted that the expenses
scf the company, in proportion to the premium in
come were larger than those of any other in
suFenos company. He explained that this was
due In part to competition and the high COM
ne<r hI6fneks,
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