Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1905-12-04
PRESIDENT OF MUTUAL SAYS HIS
HEALTH Is POOR.
ECkLES MAY GET PLACE
Chicago Financier, CIeVeIand's Comp
troIIer of the Currency, Offered At
tractive Position-Proclamat IS
sued by investigator Urging Policy
holders not to Drop Contracts.

New York, Dec. 1.-The resigna-
ton of Richard A. McCurdy as presi-
dent of the Mutual Life was the most
important development of the life In
surance situation yesterday. McCur-
dy is succeeded temporarily by Fred
erick Cromwell, treasurer of the COM
pany, but it is understood that the
position has been offered to, James H.
Eckles, who was comptroller OF the
currency during the Cleveland admin
istration and now is president OF the
Commercial National bank of Chicago
McCurdy's management Of the af-
fairs of the company has been the sub
iect of inquiry by the legislative in
vestigating committee, which brought
out the fact that during his presiden-
cy very large commissions were paid
his son, Robert H. McCurdy, and SON
in-law. Louis A. Thebaud. McCurdy
said he was impel1ed to resign be-
cause of considerations of his health.
Proclamation to Policy Holders.
One interesting feature of the in
surance investigation yesterday was
the issue of a thanksgiving proclama-
ton to policyholders by Senator Arm
strong, chairman of the investigating
committee, in which he advised them
against allowing their policies to lapse
because of anything revealed In the
investigation, and told them that they
are in a better position now than be-
fore the investigation began and that
the committee would recommend leg
islation to safeguard their interests.
Charles P. McClelland, former state
senator, testified before the commit
tee yesterday that he lived in the Mu-
tual Life company's house in Albany.
conducted by Andrew C. Fields in
1903. while he was senator and mem
Der of the insurance committee o.
that body. He stated that 1t never oc.
Cured to him as improper, as he and
Fields are old friends. 1t was shown
that for several years while McClel
land was not senator he was retained
by the Mutual Life at $4,000 year
and the committee had much difficulty
in obtaining a statement OF what he
did to earn that retainer. He said h
appeared before legislative commit
tees to argue against savings bank
tax and franchise tax bills.
McClelland had just stated that ne
was never employed by the Equitable
Life when the committee showed him
voucher for $4,000 paid by that So
ciety to the firm of which McClelland
is q member. it was written in his
hand writing but McClelland said he
could not remember it. 1t was cred
tied to the walter company account
as were also other vouchers paid by
the Equitable to William N. Johnson
and Charles #. Lewis, amounting to
800
John G. Mccall, son of the president
of the New York Life, told the com
mittee yesterday that Andrew Hamil-
ton. the legislative agent who got
large sums without an accounting
from the company, had been located
in Paris and that he had received
message from Mccall asking him to
come to New York, appear before the
committee and render an accounting
of his expenses. To induce him to do
that, Mccall said he was going to start
for Paris Saturday.