Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-10-20
Corporations Pa;rcnissd by Insurance Com
psniSS Suddenly Become PrOSpersr
WILL NOT PROSECUTE TELEPHONE
George ]. Plunkitt Will bot Be R, Z d
to Answer Charge of Perjury. :
ROBERT wcURDrs EXPENSE A
son of the President TrRN
Private Car while on Inspse
tiOn Trip Through the
West.

NEW YORK, oct. 19.-Richard A. Nc
Curdy. president OF the Mutual Life Insur
ance company, made the statement today
that he had no intention of resigning, that
he was elected 10 serve until June Z 1906.
and that nothing can or will drive him out.
It was also announced from the district
attorneys office that no action will be
taken regarding the George J Plunkitt mat
ter that was turned over 10 the district at
torney Yesterday by the legislative COM
inittee that is investigating the insurance
companies.
Closing one Of the most sensational and
strenuous weeks of the insurance investiga-
tion. the committee, just before adjourn
ment today. concluded the examination OF
Richard A. McCurdy with the exception OF
q few details he is to supply next week
Mutual Trust Companies Prosper.
Mr.. McCurdy has been on the stand the
greater part OF the three days OF this weeks
session and some of his testimony has been
the most startling OF any that has been
adduced before the committee. His test-
mony today. however, was very much of
technical nature. though II was of much
value to the committee in it's work. When
he resumed the stand this morning II was
90 take up his testimony as TO the Mutual
LIES connection with trust companies that
WIS interrupted Dg gtbNeIudS.
The Information furnished by Mr.. McCurdy
disclosed that the trust companies with
which the Mutual Life was connected be-
came very prosperous soon after they we're
taken up by the Mutual Life. Two cases in
point were the Morristown Trust company
at MoTristown. N. j., where the McCurdy
family lives, and the United States Mort
gage and Trust company. The former is
now controlled by the Mutual Life, and M.
McCurdy testified that besides being
director Of this trust company he Is a large
stockholder and would take more stock II
he could get IL.
The Mutual Life keeps a balance of not
less than 10000 with this company on
which It draws from 2 TO per cent. The
latter rate has been paid only since Sep
tember. Mr.. McCurdy did not know the
holdings OF the other members OF his fam
ily In this company. .
Syndicate Operations.
In the syndicate operations Mr. McCurdy
said that he participated not with the idea
OF drawing bonds, but to obtain his share
OF the commission allowed by bankers.
Mr.. McCurdy was asked what life insur-
ance he carried and he was unable to say
at once but James NJ. Beck his counsel
presented a statement showing when the
policies were taken out, for what amounts
and the plan. These aggregated $2OO,0O0 all
in the Mutual Mr.. McCurdy testified that
he was also insured in the Equitable, the
Washington and the Connecticut Mutual.
Before he left the stand. Mr. McCurdy
said he paid $500 for his apartment in the
Grosvenor building which is owned by the
Mutual.
Travels in Private Car.
When Mr.. McCurdy was excused his son
Robert II. McCurdy, was called to explain
some charges for travelling expenses IN 1904
He said one of his duties general man
aEer was 70 visit the agencies about the
country. Three such trips were made. tn,
expense OF which aggregated about s.. 600
Mr.. McCurdy said that while on one trip
he was accompanied by his father, mother
wife and the latter's maid, but that tht
expense accounts were for himself indi
vi6uaily. and did not include those Of an!
other member of his family or party. HI
had private car on one OF these trips
He could not tell why the expenses on thes
trips were so large, but said he would fur
nish the details later.
Mr.. McCurdy was followed by w w
Richards comptroller OF the Mutual, VIII
explained the manner In which the Mutua
acquired some properties by the foreclos
ure. when the committee adjourned unit
next Tuesday.