New-York tribune., 1905-12-24

other in carrying out the theory Of purely mutuai
1 called at your Office on Tuesday last to present
this request in person. together with some '5 t
be seen therefore present it in writing ana no ask @
| have the list with as little delay as possible.
! Mr.. Mccall promptly and curtly declined the
request.
There are hints of surprises in store in the
! Mutual. In fact, this promises to be ousy
and scintillating week in insurance affairs Ihe
| trustees of the Mutual meet on Wednesday ana
| there have been many hints at drastic actoh
! then. The finger of fate points with most per-
! sistence at Robert A. Grannss After him come
| those others who participated in the Juggling
| of accounts and took profit to themselves from
stock speculations James McKeen made
statement yesterday in regard to the connec-
ton OF Frederic Cromwell with the Lawyers
Mortgage Company stock. Mr.. Mckeen said;
According to the testmony given before The ine
estgatng sGss 81o an e neresSs Of its capital
stock, be divided among its stockholdeIrs pl9 ~
was decided that TO strengthen the company - H.
w93 ea ed Gf Me 10 30 SET aside 500 shares Of the new
stock for this purpose ana the MUTUAL va as "a
Coggesha testified to seeing MI MeSGrdY sid hat 0fn f
Mutual would be glad to participate Accordingly @
1000 shares were issued in the name OF N y. u "
Mutual It afterward turned out that the stock
was divided led a9ng sFfies faf in the list given
TO him Mr. Cromwell was among those TO receive
stock ledger did not show the transfer of any STOCK
to Mr. Cromwell. Evidently no stock was lssasi in 10
Mr. Cromwell connection with that tr3lsactlol-
On Friday too late for 1t to be put on tRe eecoIT, orc
ing that ne had been informed of the testimony and
that he had recollection of ever having known
anything about the transaction
Mr.. McKeen added that he thoroughly De-
,ieved that Mt Cromwell was absolutely inno-
cent of anv knowledge of this affair until II
was brought out in the examination and that
lie did not think Mr.. Cromwell was IN the
slightest degree culpable. It is prooapie Ihat
Mr.. Granniss and others connected win tne
affair will be called to the stand 70 testity ABOUT
IT One of the participants when asked 5esle1-
day about It said that the whole transactlon
was entirely legitimate and that MI Coggeshah
was simply under a MISUNDERSTANDING III con
nection win the whole affair. When the pro-
position was taken to Mr.. McCurdy. II was saio'
he did not think it was exactly one IN Whlch tile
funds Of the company should be invested, put
he did consider that he would be Wiling 10 IlsEe
his money. He suggested II 10 NattobS i1 bs ~.
his friends, and they also thougnt II Ils oo0 m
a good thing to go into There1ore, lHs i'Uv0 ~
shares Of stock were taken ana aIntoeo t op o
among them How Mr. Cromwehs s llaiAe so' '-1
the list was not explained.
WORK PILES UP ON COMMITTEE
After hearing the testimony Of the McCalls,
Appleton. Payn and possibly other officials ana
=
officers in the big insurance companies, the IN
vestigatins committee still has an Immense
amount OF work in front of it this week There
must be put into the record the statements OF
upward Of twenty insurance companies OF otner
States which have been clamoring TO be exam
ined and have sent in written reports according
to the request Of the committee. The fact that
two of these the Northwestern Mutual Life and
the National Life Insurance Company. Of Yer
Iav I'm
last ten years VIII give some idea OF the extent
Of the work involved in going through these
have done the same If they had been permitted
MIR. McKeen has been busy getting these re-
ports in shape to go into the record.
In addition to this Mr.. McKeen has been busily
working on the report. There is considerable
doubt yet as TO what kind of report will be
put in when the legislature meets A great effort
is being made to get a report into shape but it
is thought most likely that there viii be merely
a perfunctorv statement that the committee has
done its work and hands in the testimony taken.
In the mean time the Assembly itself will have
| to adjourn for two or three weeks to give time
| for the new Speaker to make up his committees
! and get the machinery Of the House in running
order. While that is being done, the insurance
committee will probably continue its sessions N
this city going over the testimony and dis
cussing the recommendations to be made TO the
legislature.
Pendreigh who was private secretary to James
W. Alexander and has hung on in the Equitable
offices since Mr. Morton took hold, has at last
landed I'm good job. Through the influence, it
is believed, of Mr Morton, he has been made
private secretary to James speyer, OF speyer
& Co.. bankers.
An organization of polcyholders of the Mutual
is said to be getting READY to demand the resig-
nation of Air. Peabody the president-elect OF the
company. and many OF the trustees II Is
believed that the organization mentioned is the
one Of which Thomas H Bowles is the head He
got up such organization once before and
left it hanging in the air.
Attorney General Mayer said yesterday that
he had come to no conclusion yet as to what he
would do insregaTd to insurance affairs He did
not he said intend to formulate any plans until
the report of the Armstrong committee had been
handed in. when he would probably nave some
thing TO say
INSURANCE COMPANY ENJOINED.