Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1905-10-11
BORROWED MONEY
At A LOW RATE
so TEsTlFiEs M'cALL BEFORE
INVESTIGATION COMMITTEE.
WHERE ARE THE CHECKS?
Neil F. Towner Says That Cancelled
Drafts From Albany Trust Com
pany Had Disappeared From Desk
of Judge Hamilton-No Record of
Campaign Contributions.

New York, Oct 5.--That John R.
Hegeman, president of the Metropoli-
tan Life Insurance company, borrowed
$4,000 from the New York Life In
surance company at TX per cent. in
terest, rate below the market rate,
was brought out in the insurance in
vestigation last week Yesterday
President Mccall of the New York
Life testified that he in turn bor-
rowed $4,000 from the Metropolitan
at the same rate. This was IN Janu-
airy, 1908. The loan was renewed
in January, 1904, and ran until March,
1905, when the rate was advanced to
? per cent. at which rate it is still
running.
Mccall testified that he was a di-
rector of the Metropolitan Life but
not stockhoider. Tie fact OF his
being director Mccall continued,
Gid not deter him from procuring q
loan at as low rate of interest as
possible when it was to his interest
to do so.
A sensation was caused when Neil
F. Towner of Albany was called to
the stand and disclaimed any Knowl-
edge of the whereabouts of the can
celed checks of Judge Hamilton of
Albany, Towner testified that he
was associated with Hamilton in the
practice of law in Albany. The
Hamilton account was under investi-
cation and Mccall had been excused
while Towner took the stand.
Cancelled Checks Disappeared.
Towner testified that he had taken
some cancelled checks from the AL
hany Trust company early in Septem-
Der and had thrown them into a
drawer in Hamilton's desk. When
he went to get them last week, in
response to a subpoena from the
committee, they were gone. He had
no knowledge, he declared of where
they could have gone or who could
have taken them.
Mccall, resuming, was asked about
the deposit to the credit of Judge
Hamilton of $162,041 September 1,
1905. Mccall said that the New
York Life had paid Hamilton no mon.
ey but suggested that part of it
might have come from the state con
trotler's Office by reason of assig-..
ment of tax moneys which would
come to the Judge by reason of his
securing the REPEAL of the tax law
which relieved the New York Life
from the payment of the taxes. Ham
ilton was to have one-third of the
amount that would be a rebate to the
company, sum of S272.000 netting
Hamilton about $4,000.
Edwin F. Devlin, real estate manag
er for the New York Life, testified
that the company acquired by fore
closure an aIar, nent house in one of
the most desirable residential sec
lions of this city, and which cost with
Improvements $203,056. The net in.
come from this property was found
to be .023 per cent. on the invest.
mont. 1t developed hat most of the
| tenants were McCall's three sons and
a son-in-law.
Assumed That Money Was Paid.
Mccall, during his testimony yes
terday. said that there WAS no record
on the books of the New York Life
of the S150,000 paid the republican
national committee for contributions
to the presidential campaigns. While
he had no personal knowledge that
the money was paid, he assumed that
it was, because he had tod the treas
urer to make these payments Nc
Call also made the startling asser.
ton that three-quarters of the bills
affecting the life insurance companies
were in the nature of blackmaii. The
officers of the companies were wor'
ried at the beginning of each year,
he said, by the proposal of laws that
would hamper their companies, and
these officers really trembled at
what they would have to endure the