The Barre daily times. (Barre, Vt.) 1897-1959, 1905-09-07
Employees Cast Ballots For
Election Of Officers.
GRANNlS ON THE RACK
New York Legislative Probe Into the
Big Insurance Companies
Noted Lawyers
Present.

New York, Sept. 7.-The investigation
Of the affairs Of the Equitable and other
big life insurance companies BY the spec
ial legislative committee began in this
city yesterday afternoon Senator
Armstrong called the committee to order.
He announced that while the committee
would extend al Of the courtesies TO
the lawyers present, they had no rights
before the committee, but said the
committee would ike to know what at
torneys are present and who they rep
resent"
Former Governor Frank S. Black Of
New York arose and said that he rep
resented the Equitable society. James
N. Beck, former assistant attorney gen.
eral Of the United States, followed, stat.
ing that he represented the Mutual
| Life, and desired to facilitate the in,
yestigation in every manner. President
Mccall Of the New York Life declared
that his company was not represented
by counsel, but that the books Of his
company were open for the committee
pleasure.
| r. a. Lindabury Of Newark, N. j.
and c. y. Boree Of New York We're rec
ognized as representing the metropolitan
company. Frank 5. Lawrence and Frank
Platt appeared as representatives OF the
Mutual Reserve company.
Senator Armstrong then announced
that Charles r. Hughes, James Meheen
and Matthews Fleming had been ap.
pointed counsel for the committee. Mr.
MeKeen addressed the committee, spread.
ing upon the records the investigations
held in 1899 by a committee Of the as.
sembly. Mr. Hughes stated that bis
first line of inquiry would be TO fine
out how the policy holders figured u
election of officers and directors OF in
dividual companies.
lis Mr.. Grannis PRESENT. he asked.
Vice President Grannis of the Autua
Life came forward, and, as the first
witness, Mr.. Hughes queried him as L
the election OF officers, it being hi
purpose to show how many policy hold
ers actually vote; that the officers hi
dividually hold thousands Of proxies anC
vote them as they see fit when the occa
sion requires.
Mr. Grannis said that he, with Presi
! dent Richard A. NcCurdy, held a mum
! Der Of proxies jointly.
How manyf' inquired Mr.. Hughes
Il don't know. | cannot tell
"They run into the thousandsi'
Yes
Fifty thousands"
Cant say"
The witness explained that pToxi
I blank Is given every policy holder, an
they are asked to sign 1t or not, a
they see fit.
Walter G.. 0akman, a trustee Of tn
Mutual Life Company, testified that 70
five years he had served as m inspecto
of election OF the Mutual So far as h
I himself was concerned, he adnitte
that he had no knowledge Of the iden
tity Of the persons voting, other tina
) that impaired to him by the presiden
: and vice president of the company. H
q had the assurance from them that til
. persons voting were policy holders IN
Z method of voting was simply the pickin
Z up Of a printed slip for the purpose an
t the dropping Of it into the ballot boz
: Mr. Oakman admitted that he knew
+ number of those voting from seein
: them vote year after year, and that
s number of them were employees of tn
n Mutual Life, Of the United States Mort
E gage and Trust company, and Of tn
: Guarantee Trust company.
z There was no examination of creder
I tials, lie said, no presentation Of policiC
n OF any other way Of certifying the RICH
n of a prospective voter to cast his ba
a lot. Mr.. Oakman further admitted tia
0 most of those voting seemed to |
known to officers Of the company pres
y ent AZ the election
n John G. Mccall, son Of the presider
e Of the New York Life, and himself Sc,
e retmy Of that company, was next sworl
Z Mr.. Mccall testified that he was thirt,
II one years old, and that his salary
j. secretary was $4,000 d year. He Ia
! entered the service Of the company Il
# day after his graduation from Haryai
e IN $780, His salary had been SO,
at first, but had subsequently been raj
ed to $4,000, $4,000 and to SI4 900.