The Montgomery advertiser., 1905-12-06
HOLD UPS"
 FOR $2O,OOO How Mutual Reserve XaS Robbed. TESTIMONY OF ELDREDGE Philadelphia Lawy.r Secures SIS. DO fsr Silence. He Had Becn Active in Movement Which Was Looking to the Re-
 sisaation of President
 Bnrnham.
TESTIMONY OF ELDREDGE

New York. Dec. 5.--lnstances in wnicn tne Mutuai rseserve lsite lnsur- Ance Company psia an agsregate Of doout >zo.vvv in what k.ce-r -rresident oeorge D. Eiarsage of that company Sai.eu '.hoia Ups were related to tne siLe lnsuraiiee iavesagaang committee oy Mr. hiaredge touay.
 In one case. in less. Mir. Eldredge testified that the company pad Slo,vvv .o tom aacLvnald. q fniiaueipnia law ger, who nau heen active in organizing she pol.cynoiuers of the Mutual nessrve .ntu \ movement which cnarged Presi- dent Frederiex A. i5urnnani of that company with inismanas enient and oe- snAnuea ms removal The charges aiso refiected upon Mr. Eldredge manage inent as yice-PresidenL and the threat was made to ask tor the appointment of a receiver for the company.
 Engaged in this movement of the poll ieyhoiaers also was ]. F. Hoffecker. Il former auditor Of the company. who mad been dismissed or who mad res.sn- ed. Before leaving the company hof- fecker informed President Burnnam that he resigned because thelr Ideas as to common honesty dinered so much and because he knew of so many ques- tionable transactions of winch presi- dent Burnhana had approved.
 Demanded Increase in Salary.
 Mir Eldredge declared that Honecker was not dismissed until no had de- manded an increase in salary of from s35 to $ie0 week. and practically said it Was safer for the company to keep him than to let him go. in view Of what he knew about the company.
 Another instance Of ''hold-up." Mr Eldredge said, was tn 1890. when Max Behler, .'so-called examiner" of the Iowa Insurance Department came to Krs...k f4slr s.rtk s~ .s tnsfu exAmin~d the Mutual Life Reserve In- surance Company and presented to it bill for <46g for the examination. Rath- CT than pay the bill the company with drew It's business from Iowa. but little later paid that bill and another Of ss4s to Max Behier for a verifica- ton of his previous examination. in or- der to get permission again te do bus
 Mir. Eidredse told how he tried to se- cure license for his company to do business in Missouri in 1898. and found that 1t would have to employ W. II, Phelps as attorney before II could do so. Phelps got the iieense for the com pany three days afterwards. and was paid S3,600 as '1egai' fee.
 Thought it Was NOs True.
 Mir. EldredgC testified also that he was certain there was no truth in the statement made to Canadian investi- gating committee by James D. Wells. former Vice-President of the Mutual Reserve. that President Burnham of that company had told Wells he had to raise $4O.O00 to pay to the New York Insurance Department in 1899 when Louis F. Payn was Superintendent of Insurance.
 The witness had previously stated that portion of report made by Isaac VanderpoeI, an examiner of the New York Insurance Department after an examination in 1899 was el minated after a hearing before the Insurance Department and before 1t was placed on file. The part struck out recom- mended that the committee be not aI- lowed to call it's lease of it's home office an asset and include 1t In it's surplus.
 Mir. Fldredge declared that the Mu- tual Reserve Company paid no money te the New York State Insurance De- partment in 1899 except for the exam. fnatiOn.