The Washington times., 1905-10-05
IHUNhEL ASSERTS
He HIMSELF PAID
$4,000 TO BABCOCK
Mutual Agent Handed 1t
to Republican
Chairman.
REALTY PROFITS SMALL
New York Lies Property
Brought Very Little Re-
turn as Investment.
REALTY PROFITS SMALL

NEW YORK, Oct 5.-Mr. Thummel
attorney for the Mutual Life, admitted
on the stand at the insurance invessi-
cation today that the Mutual Life con-
tributed $500 to the Republican cam
paign fund. He handed that amount
himself. ne said to Congressman Bah
cock. chairman of the Republican Con-
gressional Committee.
Edward /. Devlin. head of the
zeal estate department. of the New York
Life. the first witness. was called this
morning before the legislative investi
eating committee by Mr. Hughes. and
questioned TO some length regarding
certain real estate properties of the
company, and their values.
Mr.. Hughes asked Mr.. Devlin about
an apartment house at Sixty-second
street and Park avenue. and found that
it cost Si.0os. .S65.6s in 1891. and that the
net income was s126. 40 Is. or little
over 21z per cent on the investment.
Deylin admitted that other similar in
vestments had been made by the COM
pany, but were made previous TO the
present regime in the New York Life.
Lost on Hotel.
Devlin said that the company had
bought the Plaza Hotel, in this city.
tor $2.79.. 226.2 2S. and got out of il at a
loss of $4,000 Mr.. Devlin, speaking
of the company's office In Kansas City,
Mo-. said that it cost 1901. .7s1 y. and
that s76s,3o7 had been expended upon
the building. The net income of the
building was s69,0o2.S. or about 36-10o
per cent actual interest on the build
ing The structure Is carried on the
companys books at 81 zoo n1a
Western Profits Tiny.
The witness said thai the company's
building at Omaha cost 81, 246. .6fl.72. and
that the net earnings were a little
under 3 per cent on the investment. In
Minneapolis. the actual cost OF the
conpanys building was s.. OBS, 1872 81 and
the net income SIS. .so0.75. or about 2lz
per cent on the investment 1t was
Shown that the eompanys building at
ST. Paul cost s922.4 40. and that the net
income was ss,l22. or less than l per
cent.
Mr.. DevliD said some unusual ex-
penses had been incurred in fitting up
the 81. Paul building. which accounted
for the small net earnings. During the
year 1904. Mr.. Deviin said. the real
estate OF the company had yielded
about 37-10 per cent
MIR. Devlin was excused anG Corne-
pus c. White. auditor of the New York
Life, was called to the stand.
He said that the Sill, "a given TO
Judge Andrew Hamilton In June. 1904.
was charged on the company's books
an item OF s75.ooo given to Judge HamiI-
ton, WAS charged to the tax account
and later transferred TO the account of
contingent expenses White was ex-
cused-
Mutual Does Same.
legal capacity for the Mutual Life in
much the same capacity as did Judge
Hamilton for the New York Life. said
he was an attorney for the Mutual
Life
What department Of the legal work
occupies your attention."
Taxes and legislation"
Mr. ThummeI said that he looked out
fer legislation in the various States ard
that the Mutual Life had developed the
territory with the New York Life.
The Equitable had an apportionment
of territory. he said The witness gave
a list OF States which were apportioned
among the three companies:
Mr.. Thummel said he knew Judge
Hamilton. but as far as he knew, Judge
Hamilton had never paid him cent.
The New York Life had paid him some
E,ooey for an adjustment OF accounts.
Maintained Lobby Fund.
4-r&nimel said that he recalled that
somebody had once given him a spe-
csfc amount for a specific purpose"
When asked what the Specific purpose
was he replied that 1t was used to
create public sentiment and TO prevent
vicious legislation, and strike bills at
Des Moines, Iowa.
Thun1nel said that each OF the three
insurance companies paid their share
In these expenses.
Thummel admitted that there were
other expenditures in the work of pre-
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