The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-10-03
More Exposures Expected
in Insurance Hearing.
investigating Committee Determined
to Get at the Bolton of The Matter.
Officers Will be Asked to Explain
lust What Measures Were Con-
Sidered Detrimental.
(Washin gton Post.)

New York. Oct. There is good
reason to believe that the surface only
of the present life insurance situa ton
will bring disclosures of a more sensa-
tional character even than those that
nave been made in the last two or
three days
Counsel for the investigating com
mlttee. It was declared yesterday, in
tended to go to the bottom of the
payments by the three big companies
the New York Life the Mutual. and
the Equitable-for legal services in
the matter of Legislative supervi-
sion The committees lawyers are
going to make the officers OF the three
big institutions explain in detail just
what sort of work these special legal
representatives rendered in return for
the big sums paid them. Counsel for
the committee are going to call upon
each of the companies for a detailed
statement as to when and where these
legal representatives" appeared be-
fore legislative committees and as to
the particular legislative measures
which required, as in the case of the
Equitable, for instance. the expendi-
ture in a single year of $13, 333.33.
Will Recall Officers.
1t is practically certain now, in view
of the statements made on Friday by
me ECuitable's assistant auditor that
the committee will recall to the stand
the officers of the New York Life for
further explanations of the $235,0O0
which the New York Life advanced to
Andrew Hamilton. President Mccall
testified that this amount was advanc-
ed to Hamilton for use in acquiring
bn n no 4
had never been spent for that pur-
pose. and was still unaccounted for
The committee vii! want TO know
Of the New York Life officers why the
expenses incurred by Hamilton and
others in supervising" legislation for
the three big companies throughout
the United States were divided equally
among the three big institutions,
where the records of the New York
Lies payment on this account are,
from what funds they We're made. and
how they were recorded on the COM
pany's books. President Mccall, OF
the New York Life, testified that there
was no personal account with Hamil-
ton on tha company's books.
For Mutual to Explain.
The investigators will want to know
of the Mutual, too al tho particulars
in regard to their transactions with
heir leg. slative representatives, f. l..
Short and w. F. Thummel. Subpoena
servers were out yesterday in search
of Thummel, but it was said that he
is out of the city, 1t wa said at his
apartments that he is out of the city
NEST of the time, and was not likely
10 be back for some time.
Living with Thummel is young
nan named Hamilton. Whether
IN op II a n L.
lily share the apartment with Thum-
mel was not ascertained, but the fact
was recalled that Secretary John c..
Mccall of the New York Life, in tes-
tifyng TO the amount of time which
Mr.. Hamilton spent in the city, said
that he maintained an apartment in
this city, although his home is in AL
bany.
Inquiry by Western Commissioners.
The insurance commissioners of five
Western States, meeting in this city,
will make an examination of the big
life insurance companies, which shall
supplement- the investigation at pres
ent being conducted by the New York
leg slative committee. The five COM
!nssioners are T.. Folk, of Tennessee;
H. r.. Prewitt, of Kentucky; NJ. Host,
of Wisconsin; Il. d. O'Brien, of Min
nesota, and j. l.. Pierce, of Nebraska.
The Western insurance commission
ers will examine only one compan4 1t
a time, taking up the affairs Of the
New York Life Insurance Company
first. They did not expect to spend
their entire time in New York during
the investigation, but will leave the
work of inquiry to assistants, and will
make FREQUENT visits here themselves.
II. X. Prewitt, the commissioner
from Kentucky, said he favored the
regular publica ton of the earnings of
life insurance companies in the case of
the deferred dividend policies
INTEREST IN THE DEWEY CASE