Waterbury evening Democrat., 1905-09-07
VOTING IN MUTUAL
Insurance Probe Gives Details of Elections and Proxies.
NO COUNSEL FOR NEW YORK LIFE
yohn A. Mccall Appears With All the Company's Officers - Few Policy Holders Vote In Person at
 Annual Elections.


 Annual Elections.
 NEW YORK, Sept. 7.- How some mutualized insurance companies con- duct the elections of officers and trus- tees was disclosed yesterday at the first public session of the joint legisla- tive committee appointed to inquire into the methods and business condi- tions of insurance companies in this state, which was held in the alder manic chamber of the city hall. At the morning hearing Vice President Robert A. Granniss and Walter G. Oakman, a trustee and election in- spector of the Mutual Life, and John c. Mccall, secretary of the New York Life, were witnesses, and their testi- mony did much toward disclosing the inner working of the election machin- cry by which the executive heads and directors of the companies are chosen.
 According to the sworn statements of Messrs. Granniss and Oakman less than 200 policy holders in the Mutual participate in the annual election. Proxies for 10000 are held by the president and vice president, but they are never voted, because they are not needed. President Richard A. Me Curdy and other high officers suggest the names of the candidates. These names are printed on slips of paper and deposited in the ballot box
 Inspector Oakman admitted that eX- cept for the assurance of Mir. McCurdy, he didn't even know if the men who cast the ballots were qualified to vote. He recognized many of the voters as clerks in the employ of the Mutual and of two trust companies in which the Mutual was interested.
 Speaking for the New York, Secre- tary Mccall testified that very few policy holders voted in person and that the number of proxies cast at the an- nual elections was fixed arbitrarily.
 Chairman Senator William W. Arm strong presided at the session, and on either side of him sat the other mern- bers of the committee, Senators Will liam J. Fully and Daniel J. Riordan, and Assemblymen James T. Rogers, Robert Lynn Cox, William W. Wem- pie, John McKeon and Ezra P. Prem tice, the secretary.
 Ex-Governor Frank s. Black appear cd as counsel for the Equitable.
 Y am here for the Equitable so- ciety," he announced. We have noth- ing to conceal and no one to protect. We seek no legal technicalities to evade answering any questions We will aid in every way the progress of the inquiry"
 Paul D. Cravath was present in the interests of Thomas F. Ryan, and W. c. Gulliver was present as counsel for James HaZen Hyde.
 The presence of all the officers of the New York Life Insurance company, : from the prestdent@to thascbief ;aetu- ary, was one of the features of the inaugural hearing. When Senator Armstrong called for the names of those present in response to the sub- poems issued, those given were chiefly the names of lawyers appearing as at- torneys of record for one or the other of the insurance companies.
 There was a sensation, however, when President John A. Mccall, aris- ing at the invitation of the chairman, announced that the New York Life was not represented by counsel and that 1t did not intend to be so repre- scented.
 "The officers of the company are all here, however" MT. Mccall continued, ''and all questions put to them will be freely and fully answered. We have brought the books of the company which the subpoenas called for, and these are also at your disposal"
 With President Mccall were First Vice Presidents George ". Perkins, who is a partner in the banking firm of J. P. Morgan & Co.,; T. A. Buckner and D. P. Kingsley, Second Vice Pres !dents Rufus Weeks and E. R. Perkins, Secretary John c. Mccall and Treas urer E. D. Randolph.