Arizona republican., 1905-09-29

the S1,500 remaining bonus shall be
 available to you in the following man ner; as a loan to be absolutely liqui- dated and paid by you on Dec. 31, 1904, if you are still in the service of the company, $500 available when the first
 $50, ,000 of business is paid for $500 when
 the second $50.O0O of business is paid
 for, $500 when the third S5O,0O0 of busi-
 ness is paid for.
 Tt shall also be a matter of contract
 between you and the company that
 should, in any way, your business equal
 or exceed $100,0O0 all paid up business
 Cterm insurance eXcepted) you will be
 entitled to a commission of , per cent
 on renewal premiums paid on the third
 and fourth years insurance, in addition
 to the rates specified in section twenty
 of that agreement.
 "To further facilitate your business
 with the New York Life it is mutually
 understood that you will have a work ing balance to your credit of $500 for
 the first year of your contract. Said S1400 is available to you in cash not exceeding $50 a week. This $1,5O0 is simply an advance and it ought to be charged to your account Tt is further understood and agreed that this $500 is to relate to only one i year of your contract and your bon uses to extend only up to the time mentioned.
 And it is further agreed in the con ] tract that this term shah not affect the term of your other branch office con l tract with the company. Yours truly, ''N. Y. l.. I. CO, "By Thos. II. Buckner, Fourth Vice President" This is the contract under which MT. ! Desbeckher. with a number of other agents entered the employ of the New York Life.
 While Mir. Perkins was on the stand during the afternoon there was some
 what of a clash between the witness and Mir. Hughes, the first of anything
 of this nature that had occurred since the committee began it's sessions. It was when MT, Perkins was testifying { to the moneys in the "Nylic' fund of which he is trustee. MT. Perkins did not want it 10 appear on the records that the agents paid part Of their sal aries into the fund under contl act, un- less the words "and bonuses" appear ] ed. He said to MT. Hughes that ne (Mr. Hughes) was trying to get away from something, and the counsel hoCly retOTted that he was not, and that if Perkins would answer his question much better progress would be made with the investigation.
 Earlier in the day Henry R. Win throp of the Equitable while on the stand presented a statement of the ] transfers of the stock of the Equitable at the time of it's change of manage ment and the directorate. Most of the i transfers Mir. Winthrop was able to ex- plain, but so far has not. At the time : of these transfers Winthrop was hold l CT of twenty-five snares. He though.
 the actual owner was James H. Hyde,
 as he turned the checks for dividends over to Hyde.
 ! Winthrop was again called to the ! stand just before adjournment. Buck i her having given way to explain a i trustee account brought up earlier in 1 the day. Winthrop presented a type 1 written statement of the account and ! said the loans would be paid off in a ! few days and tle collateral entered on | the books of the company. Before MT Buckner retired, however, he was ask | cd to produce a statement of the ex- ] penses of the Paris office, with a re- | cord of the real estate held there and | the business that comes under that 1 Jurisdiction. Mir. Buckner had been | questioned most of the afternoon on the | foreign business and the cost to the | company. The committee will resume 1 f-s sessions tpr1 oTroyv