Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-10-07
HUGE Salaries PAID
officers of the Mutual Life
Given Enormous Pay by
the Company
PRESIDENT M'cuRDvs s15o,ooc
Two Vice Presidents Were Paid $780,
900 Each, the Treasurer $4,000 and
Other Officers in Like Pro oortion-
Surprising Number Of Mcc. rdy Rel
atives Drawing Big Pay.

New York, Oct. sensational tes-
timony regarding the payroll Of the
Mutual Life Insurance Company was
given before the Legislative investi-
eating committee yesterday. Mr..
Hughes for the committee demanded
the payroll Of the executive officers of
the company This was produced and
showed the salaries of these officers
since 1877. For the year 1904, Presi-
dent McCurdy received s150,000; two
vice presidents were paid $4,000 each,
second vice president s17,50O, the
third vice president $4,000 and the
general manager $4,000 who this year
will receive $4,000, and the treasurer
$4,000.
Robert McCurdy said he never knew
the salary of his father until today.
when he heard it read in the COM
mittee room. He thought, however,
that there should be no lint to the
salary Of such positions, because they
SIllvulQ DG III dCCJEUdICG WIFI luG dC-
curnulations Of the company.
When asked If it was any benefit
to the policy holders to inc ease the
presidents salary, Mr.. McCllrdy said
he thought the trustees had considered
that when they increased tle presi-
dents salary. No increase, however,
had ever been considered when he
was present at the trustees meetings.
Earlier in the day when Mr.. Nc
Curdy was on the stand, Mr.. Hughes
tried to bring out why C. III. Raymond
& Co. and the partners In that firm re-
ceited larger emoluments from the
business than any other agency. Mr..
McCurdy said he did not know what
Mr.. Thebaud received from the BUSH
ness, and had never talked with him
about his personal affairs. He said it
was a Large reward for large achieve
ments" and that all business of large
mag nitude was built on that princi-
pie.
Relatives Get the PIums.
During Mr. McCurdy's testimony it
was brought out that George Raymond,
brother OF Charles H Raymond, was
the general agent for New Jersey; that
Howard owls the general agent for
northern New York, with an office in
.-....-.!., Was d cousin of either the vice
president, Mr.. Granniss, or Mrs. Gran
Mss; that DR.. e. ]. Moss, thu. medical
director of the Mutual Life, married a
sister of the president of the company,
and that P. Stuyvesant Pilot, an in
spector of risks, is a cousin Of Louis
Thebaud, son-in-law of Presfie lent Nc
Curdy, and partner in the Raymond
firm. G. w. White. secretary Of the
company, whom Mr.. McCurly was
asked about, said he was no relative of
any officer of the company, but that
Mrs. White was a niecetof Mrs. Gran
Mss" wife of Vice President Gram
Mss" He knew none Of the salaries
Of these officers.
At one point in the days testimony,
much interest was manifested when the
expenditures of the company were ta-
ken up. An auditor of the Mutual
Life, c. A. Preller, was on the stand,
and he was asked as to the method Of
recording the expenditures. It was
gathered that these were passed upon
by an expenditure committee of which
Robert Olipant was chairman. Three
entries on the books of payments to
Mr.. Olipant of $4,000 each were
looked into, but no information could
be cleaned.
Mr.. Preller was asked about the
campaign contribution to the repub-
hc;ln congressional central committee
which was disclosed yesterday, but he
said none had come under his observa-
ton.
The $500 to the congressi ona1 cen
trail committee was looked for when
the ledgers were produced, hut up to
adjournment yesterday afternoon this
had not been found.